Category Archives: News

New Importers Keep LNG Markets Tight

As the U.S. and Australia join Qatar as major natural gas exporters, the LNG supply surge that began to materialize in 2014 continues. Yet despite growing supply, the long-anticipated glut in global LNG markets hasn’t occurred. Indeed, physical markets haven’t loosened, but remain tight as global demand continues to rise. This partly helps to explain this winter’s spike in ...

Source: Oilprice.com

The UK May Renationalize Utilities

Back in the heady days of Thatcherism, the British government sold just about all its commercial assets: the banks, steel company, airline, ports, and utilities. Most of these assets had come under government ownership after World War II when the Labor Party took control of government. As we have argued elsewhere (in the book Electricity Acts and in numerous articles), ...

Source: Oilprice.com

Southern Company accelerating restoration efforts in Puerto Rico by deploying additional personnel and equipment

ATLANTA, Jan. 20, 2018 /PRNewswire/ — Southern Company announced today that lineworkers and support staff from each of Southern Company’s four electric operating companies – Alabama Power, Georgia Power, Gulf Power and Mississippi Power – will be deployed to Puerto Rico. Personnel are scheduled to arrive in Puerto Rico today, Jan. 20, to help restore power [Read More…]

Source: BOE Report

Environmental Activist Sued for Libel Over Facebook Comment About Oil and Gas Company

Pete Kolbenschlag (center) and anti-fracking activists in Colorado

On November 17, 2016, a Colorado environmental activist named Pete Kolbenschlag used Facebook to leave a comment on a local newspaper article, the kind of thing more than a billion people do every day.

However, most people don’t get sued for libel over their Facebook comments. (Although some do.)

Source: DeSmogBlog

U.S. On Track To Unseat Saudi Arabia As No.2 Oil Producer In the World

New forecasts from the International Energy Agency say the United States is on track to overtake Saudi Arabia as the second-largest oil producer in the world, just behind Russia, according to the organization’s report on Friday. "This year promises to be a record-setting one for the US," the IEA wrote in its monthly market report. "Relentless growth should see the ...

Source: Oilprice.com

Senior Interior Dept. Official Says Florida Still On Trump’s Draft Drilling Plan

A senior official from the Interior Department (DOI) said Florida was still under official consideration for offshore drilling, despite an announcement by Secretary Ryan Zinke last week stating that the state would be granted an exemption from the draft drilling plan due to concerns about its potential to effect coastal tourism. Walter Cruickshank, the director of the Bureau of Ocean ...

Source: Oilprice.com

Senior Interior Dept. Official Says Florida Still On Trump’s Draft Drilling Plan

A senior official from the Interior Department (DOI) said Florida was still under official consideration for offshore drilling, despite an announcement by Secretary Ryan Zinke last week stating that the state would be granted an exemption from the draft drilling plan due to concerns about its potential to effect coastal tourism. Walter Cruickshank, the director of the Bureau of Ocean ...

Source: Oilprice.com

Ohio again asks U.S. regulators to stop drilling on Rover natgas pipe

Ohio environmental regulators on Friday asked federal energy regulators to order Energy Transfer Partners LP to cease drilling operations on the Rover natural gas pipeline under the Tuscarawas River over concern about the potential for a spill. The Ohio Environmental Protection Agency said in a filing with the U.S. Federal Energy Regulatory Commission (FERC) that [Read More…]

Source: BOE Report

BP Returns to Northern Iraq’s Recaptured Oil Fields (Saturday, 20 January 2018)

BP has marked its return to the oilfields of northern Iraq with an ambitious deal to help Iraq more than double crude flows from its "super-giant" oilfield after government troops recaptured the region from Kurdish forces.

The oil major was forced to withdraw from the battle torn region in 2015 but on Thursday signed an agreement with Iraqi government officials ...

Source: The latest Oil and Gas Industry News - from oilandgaspeople.com

Global Energy Advisory January 19, 2018

According to a growing number of analysts, OPEC may end its oil output cut deal with Russia before December 2018. Recent developments have been unequivocally bullish, but they may have gotten to a level where they have become too bullish for OPEC, Russia, and their smaller partners in the deal. With Brent at $70 a barrel, OPEC’s and Russia’s oil ...

Source: Oilprice.com

Schlumberger Optimistic In 2018 For Oilfield Services Businesses

Schlumberger thinks that 2018 will be the year of recovery for the global oil industry after three years of “unprecedented market downturn,” according to a new article by the Financial Times. Earnings in the fourth quarter of 2017 from upstream, midstream, and downstream operations were higher than expected, demonstrating why the leading oilfield services company had become “increasingly positive on ...

Source: Oilprice.com

The Least Compliant Country In The OPEC Deal

Yesterday's monthly oil market report from OPEC showed that oil production from Kazakhstan likely increased by 180,000 bpd in 2017 to 1.74 million barrels per day. Such a rise gives Kazakhstan the unenviable accolade of being the most out-of-compliance producer in the OPEC / NOPEC production cut deal - surpassing Iraq (some feat). Digging into our export flows, we ...

Source: Oilprice.com

Penn Virginia Executive Chairman Harry Quarls To Retire

Penn Virginia Corp. (NASDAQ: PVAC) said Jan. 19 that Harry Quarls will retire from his positions as executive chairman and as a director of the Houston-based company at the end of next month. Additionally, Eagle Ford-focused Penn Virginia said it also appointed David Geenberg and Michael Hanna as new independent board members, effective immediately. Upon Quarls’ retirement, Penn Virginia’s board ...

Source: Oilandgasinvestor.com Feeds

Emerald Bay Perforates Final Three Wells at MarPat Lease, Somerset Texas

Calgary, Alberta (FSCwire) – Emerald Bay Energy Inc. (TSX Venture: EBY) (the “Company” or “Emerald Bay”) announced today that the Company began operations this morning to perforate the final three wells of the MarPat partnerships.  The MarPat wells have shown commercial viability in the Anacocho, Olmos, and Escondido formations.  To date, all the wells have [Read More…]

Source: Headlines – BOE Report

Only 1/3 Of Oil Patch Jobs To Return To Canada After Downturn Ends

Despite higher oil prices, only one-third of the Canadian oil patch jobs lost since 2015 are expected to return due to rapid technical innovation during the past three years of low oil prices, according to a new report by E&P Mag. “The good news is that Alberta oil and gas companies are figuring out how to prosper and thrive in ...

Source: Oilprice.com

Only 1/3 Of Oil Patch Jobs To Return To Canada After Downturn Ends

Despite higher oil prices, only one-third of the Canadian oil patch jobs lost since 2015 are expected to return due to rapid technical innovation during the past three years of low oil prices, according to a new report by E&P Mag. “The good news is that Alberta oil and gas companies are figuring out how to prosper and thrive in ...

Source: Oilprice.com

Mesa Royalty Trust Announces Trust Income for January 2018

HOUSTON–(BUSINESS WIRE)–Mesa Royalty Trust (NYSE: MTR) announced the Trust income distribution for the month of January 2018. Unitholders of record on January 31, 2018 will receive distributions amounting to $0.147883786 per unit payable on April 30, 2018. The Trust received $97,150 and $49,211 from the New Mexico and Colorado portions of the San Juan Basin Properties. Royalty income [Read More…]

Source: BOE Report

Chesapeake Energy Corporation Declares Quarterly Preferred Stock Dividends And Provides 2017 Fourth Quarter And Year-End Earnings Conference Call Information

OKLAHOMA CITY, Jan. 19, 2018 /PRNewswire/ — Chesapeake Energy Corporation (NYSE:CHK) today announced that its Board of Directors has declared dividends on its outstanding convertible preferred stock issues, as stated below. 4.50% 5% 5.75% 5.75% (Series A) NYSE Symbol CHK Pr D N/A N/A N/A Date of Original Issue September 14, 2005 November 8, 2005 May 17, [Read More…]

Source: BOE Report

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Polish Police set to Ban Spontaneous Protests and Secretly Gather Personal Data at UN Climate Talks

Participants of the next UN climate talks in Poland could be banned from taking part in spontaneous demonstrations and have their personal data collected, stored and used by Polish police without their consent if a draft piece of legislation becomes law.

Source: FB-RSS feed for DeSmogBlog

Luxe Energy CEO: Delaware Basin Ripe For Consolidation

Luxe Energy CEO A. Lance Langford senses another Delaware Basin opportunity, just as he did beginning in 2015 when he and President Jeff Larson cobbled together leasehold that later sold for half a billion dollars. Fueled by $820 million of capital from its private-equity backer and previous A&D success, Luxe Energy is set to make its return to the Permian ...

Source: Oilandgasinvestor.com Feeds

U.S. oil drillers cut rigs for 2nd week in three -Baker Hughes

U.S. energy companies this week cut oil rigs for the second time in three weeks even though crude prices traded near their highest level since 2014. Drillers cut five oil rigs in the week to Jan. 19, bringing the total count down to 747, General Electric Co's Baker Hughes energy services firm said in its [Read More…]

Source: BOE Report

Statoil, YPF Finalize Joint Vaca Muerta Development Deal

Norway’s Statoil and Argentine YPF have finalized a deal for the joint development of a block in the Vaca Muerta shale oil and gas play, the second-largest in the world. Under the deal, the partners will each take a 50-percent interest in the 38,800-acre Bajo del Toro block, with YPF acting as the operator. The deal, which was first announced ...

Source: Oilprice.com

U.S. oil drillers cut rigs for 2nd week in three -Baker Hughes

U.S. energy companies this week cut oil rigs for the second time in three weeks even though crude prices traded near their highest level since 2014. Drillers cut five oil rigs in the week to Jan. 19, bringing the total count down to 747, General Electric Co's Baker Hughes energy services firm said in its [Read More…]

Source: BOE Report