Chesapeake budgets total capex at $1.9-2.5 billion for 2017

Oklahoma City independent Chesapeake Energy Corp. reported a budget with plans for total capital expenditures to range $1.9-2.5 billion, including capitalized interest, for 2017. This compares with $1.65-1.75 billion budgeted for 2016. Source: News

Favorable executive orders also create challenges, API official says

While US President Donald J. Trump’s executive orders dealing with proposed crude-oil pipelines clearly were favorable, they also will require companies in the oil and gas industry to make new contacts with departments and agencies that were not required previously, an American Petroleum Institute official suggested. Source: News

Impacts negligible if Enbridge ships more crude on Line 67, DOS finds

Environmental and other impacts would be negligible if Enbridge Energy LP is allowed to ship more crude oil across the US-Canadian border in a pipeline that has the capacity to handle the additional volumes already, the US Department of State said in a draft supplemental environmental impact statement on Feb. 10. Source: News

MARKET WATCH: NYMEX crude oil for March settles below $53/bbl

Light, sweet crude oil prices for March dropped by nearly a $1 to settle under $53/bbl on the New York market Feb. 13 while Brent crude oil prices dropped slightly more than $1 to settle at under $56/bbl on the London market. Source: News