Newly formed Ridge Runner Resources LLC, Midland, Tex., plans to pursue partnerships with other exploration and production companies and acquire acreage positions across the Delaware basin with a line of equity financing of as much as $300 million from Warburg Pincus.  Source: News

IGP Methanol has let a contract to CB&I to provide front-end engineering design services for work related to construction of its proposed 7.2 million-tonne/year Gulf Coast Methanol Complex on a 140-acre parcel next to the Mississippi River near Myrtle Grove in Plaquemines Parish, La. Source: News

Light, sweet crude oil prices declined modestly Feb. 2 on the New York market as the US dollar strengthened. Oil trades are based in US dollars so a stronger dollar makes oil more expensive for buyers using other currencies. Source: News

Senior oil and gas professionals are expressing optimism for 2018 and are feeling better-prepared for the challenges ahead. Of 813 senior-level professionals surveyed for 2018 by DNV GL, 63% said they are confident about growth in the industry, nearly double the 32% that said the same in the survey a year ago. Source: News

Pennsylvania Gov. Tom Wolf (D) announced plans on Jan. 26 to reform the state’s environmental permit process to reduce application backlogs, modernize processes, and improve oversight and efficiency. Officials from two Pennsylvania oil and gas associations told OGJ on Jan. 29 that they were examining the plan’s potential impacts on their members. Source: News

The future is not what it used to be for Mexico’s energy industry. The energy sector is fully open and, in oil and gas, the Mexican regulators, Petroleos Mexicanos (Pemex), and the private sector must learn to work with each other and create value under a common and transparent set of rules for years to […]