The Latest

Restructurings

Bankrupt Chesapeake Asks to Cancel Pipeline Contracts, Sets Drilling Cuts

Chesapeake Energy separately said in a filing it plans to operate six to eight drilling rigs for the next two years, about half the 14 rigs active on average in the first quarter, as it battles a historic downturn in oil prices.

June 29, 2020

Policy & Regulations

E&P Last Word: A Standards Approach to Specifying Fluid System Components

Certified materials ensure repeatability and reliability.

June 29, 2020

Business

Oil Groups Boosted by Cuts to US Royalty Rates during Pandemic

The Trump administration has slashed amounts oil and gas companies must pay for access on government-owned land during the COVID-19 pandemic.

June 29, 2020

Public Capital

BP Sells Petchems Arm for $5 Billion

The company’s withdrawal from the sector reflects its shift to low-carbon energy.

June 29, 2020

Exploration & Production

Trump Administration Has Denied Most Onshore Drilling Relief Requests

The Bureau of Land Management has been fielding individual applications for royalty reductions and lease suspensions from oil and gas drillers since April after rejecting industry calls for broad cuts.

June 29, 2020

Legislation

Michigan Court Orders Enbridge to Temporarily Shut Down Line 5 Pipeline

Canadian pipeline operator Enbridge Inc. has to halt Line 5 operations and disclose information related to the recent damage caused to a part of the oil pipeline, a Michigan circuit court judge ordered on June 25.

June 26, 2020

Exploration & Production

Trump Administration Opens Sensitive Arctic Areas to Oil Development

The plan, contained in a final environmental impact statement, opens 18.7 million acres of the 23 million-acre reserve to development.

June 26, 2020

Business

Pennsylvania Grand Jury Finds Government Failures during Fracking Boom

The announcement followed previous criminal findings by the grand jury against two fracking companies—Range Resources and Cabot Oil & Gas —for repeated violations of Pennsylvania environmental laws.

June 25, 2020

Unconventional

Colorado Activists Revive Anti-fracking Ballot Initiative

The drive marks the third try in four years to tighten oil and gas drilling regulations in Colorado, which is the fifth largest oil-producing U.S. state.

June 25, 2020

Investment

New Initiative Looks to Boost Oil Industry’s Decarbonization Efforts

In hopes of avoiding a slowdown in momentum caused by the current downturn, OGCI Climate Investments launched a new program to finance oil and gas projects focused on methane reduction technologies.

June 25, 2020