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Latest Hart Energy Exclusives
Nord Stream 1 Pipeline to Shut for Three Days in Latest Blow to Europe
Gazprom said the three-day shutdown of Nord Stream 1 was because the pipeline’s only remaining gas compressor requires maintenance, yet the move will bring further disruption, particularly for Germany.
US Oil Refiners Aim to Run Fullbore, Spurning Recession Fears
“Refiners will continue to run hard in Q3,” Tudor, Pickering, Holt refining analyst Matthew Blair said in a note this week, adding he would not be surprised “if Q3 runs weren't higher” than June given past conservative forecasts.
Warren Buffett Gets FERC OK to Buy Half of Occidental’s shares
Warren Buffett’s Berkshire Hathaway has acquired about 20% of Houston-based Occidental Petroleum’s shares this year already.
Analyst: Gas Production Offshore India Continues to Ramp Up
The Block KG D6 development leads offshore activity for India, while oil and gas production onshore is likely to remain level through 2030.
Brazil’s ANP Opens Bid Round for 11 Offshore Blocks
Brazil’s oil regulator ANP announced details of a permanent bid round for 11 offshore oil and gas exploration blocks and plans to open offer envelopes in mid-December.
Pantheon Completes Drilling First Horizontal Well on Alaska's North Slope
Pantheon Resources announced the results of its stimulation and flow testing from the Alaskan Alkaid #2 well.
US Oil, Gas Rig Count Falls for Third Consecutive Week
The U.S. oil and gas rig count fell by one to 762 in the week to Aug. 19, Baker Hughes said. That was the first time drillers cut the rig count for three consecutive weeks since July 2020.
Crew Energy Divests Noncore Montney Assets for CA$130 Million
The divestiture includes approximately 47,025 net acres of Montney rights on land north of the Peace River with no associated production or facilities, according to Crew Energy.
Energy Transition in Motion (Week of Aug. 19, 2022): Advancing Projects, Investment
Here’s a look at some of this week’s renewable energy news including plans for a clean energy hub to be located in the Ohio, Pennsylvania and West Virginia region.
LLOG Awards Contract for Salamanca Project in US Gulf of Mexico
LLOG Exploration Offshore and Audubon Engineering Co.'s collaborative efforts will make LLOG's Salamanca project the first repurposed hub in the U.S. Gulf of Mexico.
OPEC Chief Says Blame Policymakers, Lawmakers for Oil Price Rises
OPEC Secretary General Haitham Al Ghais maintained a relatively positive outlook for oil production in 2023 during a recent call.
Oil Prices Slip, Headed for Weekly Loss as Recession Concerns Bite
A strong dollar has made oil more expensive for holders of other currencies, while equities, which often move in tandem with oil prices, also dropped.
Lukoil Says No Lawful Grounds for Postponing Ghana Oil Field Submission
Aker Energy, controlled by Aker ASA, owns 50% of the deepwater block off Ghana where the Pecan Field is located, while Lukoil holds 38%, Ghana National Petroleum Corp. has 10%, and Fueltrade 2%.
Michigan Judge Rules Line 5 Pipeline Dispute Belongs in Federal Court
Michigan ordered the pipeline to shut down by May 2021, which Enbridge ignored, and the two sides are embroiled in a legal battle over Line 5’s fate.
Tellurian Completes $125 Million Acquisition of Private Haynesville Producer
The cash consideration at closing for private Haynesville producer EnSight was $125.5 million, revised from the announced $125 million due to preliminary purchase price adjustments, a release from Tellurian on Aug. 18 said.
West Texas Exports ‘Record’ Gas Volumes to Mexico
Permian shale gas from West Texas continues to find increasing market share south of the border in Mexico amid robust demand and more pipelines connecting the central and southwest regions of the Latin American country.
Piper Sandler Adds OFS Analyst Luke Lemoine as Managing Director
Luke Lemoine joins Piper Sandler from Capital One Securities where he worked as a managing director for 17 years covering the oilfield services sector in equity research.
Marketed: Earthstone Energy Operated Eastern Midland Basin Opportunity
Earthstone Energy Inc. retained Detring Energy Advisors for the sale of a large, operated, contiguous and fully HBP Permian footprint concentrated in the eastern Midland Basin.
Ethanol Could Get Boost from Carbon Capture Credits in Biden Climate Law
Geoff Cooper, president and CEO of ethanol trade group the Renewable Fuels Association, said the Inflation Reduction Act is “the most significant federal commitment to low-carbon biofuels since the Renewable Fuel Standard was expanded 15 years ago.”
Liberty Lift Solutions Adds Kelly Raper As Business Development Rep
Kelly Raper joins the Liberty Lift Solutions team from Beaumont Manufacturing and Distributors (BMD), where he focused on providing equipment to the artificial lift market.
Poland's PGNiG in Talks to Get More Gas from Norway Through New Baltic Pipe
After it was cut off from Russian gas supplies in April for refusing to pay in Russian roubles, Poland's PGNiG is in talks with Norway to potentially receive more gas through the Baltic Pipe.
Kazakhstan Secures Extra Gas Supply from Chevron-led Tengiz Field
Kazakh President Kassym-Jomart Tokayev met Chevron CEO Michael Wirth in Kazakhstan on Aug. 18 and also discussed with him potential investments in petrochemicals and the expansion of Karachaganak, another giant oil project.
Supreme Court, Supreme Power: EPA Ruling
High Court’s ruling in EPA case could reverberate across federal climate policy, but oil and gas companies remain likely to stay the course toward energy transition.
Continental Resources Promotes Doug Lawler to President, COO
Doug Lawler joined Continental Resources in February as COO and executive vice president following three decades in the oil and gas industry.
Oil Companies Work Around Jones Act to Supply US Fuel Markets
To get around a century-old shipping law, oil traders are sending unfinished gasoline components to Buckeye Partner's Bahama terminal to finalize and send to the U.S. East Coast.
Industrial Action at Shell's Prelude FLNG Extended to September
Comprised of workers from the Australian Worker's Union and the Maritime Union of Australia, the Offshore Alliance stated that it would "extend industrial action for as long as it took" to reach an agreement with Shell.
Denbury Reportedly Explores Options Including Possible Sale
Investors are not paying anywhere near the full value of Denbury’s carbon capture business, MKM Partners analyst Leo Mariani wrote in a note. He added that the company still has hidden value in its CO₂ pipelines.
Phillips 66 Offers to Buy DCP Midstream in $7.2 Billion Cash Deal
The transaction, which Enbridge called a “joint venture merger,” will result in a single JV holding both Enbridge’s and Phillips 66’s indirect ownership interests in the Gray Oak pipeline and DCP Midstream.
US Court Vacates Decision to Block Federal Oil, Gas Leasing Pause
The 5th U.S. Circuit Court of Appeals vacated the Louisiana district court decision to block the Interior Department’s leasing pause after Louisiana and a dozen states sued the administration established arguing that they would suffer injury from the policy.
Analysts Remain Cautious About Argentina’s YPF
Argentina’s macro environment will continue to weigh on state-owned shale producer YPF despite strong second-quarter financial results that benefitted from robust commodity prices and a strong recovery in energy demand across the South American country.