Shell Chemical Appalachia has completed installation of major equipment at its long-planned grassroots petrochemical complex currently under construction along the Ohio River in Potter Township, Beaver County, Pa., about 30 miles northwest of Pittsburgh. The heavy lift of the 2,000-tonne, 87-m tall quench tower was undertaken on Oct. 7 and is now completed, Shell said. […]
Moody’s: Permian basin pipeline constraints to limit 2019 production
A lack of pipelines to carry oil and natural gas out of the Permian basin in West Texas and southeastern New Mexico will limit exploration and production and weaken realized prices until late 2019, when new pipeline capacity comes online, Moody’s Investors Service said in a recent report. Source: News
IPC agrees to acquire BlackPearl Resources
International Petroleum Corp., Vancouver, BC, has agreed to acquire BlackPearl Resources Inc., Calgary, in an all-stock deal that would create a company with an enterprise value of $1.36 billion (US), proved plus probable reserves of 291 million boe, and production of 44,500 boe/d. Source: News
Equinor granted consent for continued use of Snorre A, B through 2040
Equinor ASA has received consent from the Norwegian Petroleum Directorate to continue use of the Snorre A and Snorre B facilities in Snorre oil and gas field in the Tampen area of the Norwegian North Sea through 2040. Previous consent was use of Snorre A until May 1, 2022, and Snorre B until May 1, […]
MARKET WATCH: NYMEX November contract gained to settle just below $75/bbl
Light, sweet crude oil prices gained on the New York market to settle just below $75/bbl on Oct. 9 while Brent crude prices climbed by more than $1 to settle at $85/bbl. Market participants on Oct. 10 closely monitored a hurricane in the Gulf of Mexico headed toward Florida. Source: News
Kosmos to plug Pontoenoe test off Suriname
Kosmos Energy will plug its Pontoenoe-1 exploration well in 2,497 m of water offshore Suriname after determining the main, Late Cretaceous target reservoir was water-bearing. The Block 42 well went to 6,194 m about 280 km northwest of Paramaribo. It tested a stratigraphic trap thought to be sourced from oil-mature Albian and Cenomanian-Turonian source kitchens. […]
Trump orders EPA to waive volatility limits for E15
US President Donald Trump ordered the US Environmental Protection Agency to waive volatility limits for gasoline with a 15% blend, facilitating its year-round sale in the country. Agricultural and ethanol interests applauded the Oct. 9 move, while the oil and gas industry and environmental organizations strongly condemned it. Source: News
EPA starts oil, gas wastewater management study amid complexities
The US Environmental Protection Agency is studying oil and gas wastewater management requirements and policies with the intention of producing a white paper early in 2019 that will help it determine if new federal regulations are necessary, officials said Oct. 9. They also acknowledged that it will be difficult. Source: News
Hurricane Michael prompts evacuations
Operators had moved workers off 10 production platforms as of midday Oct. 8 as Hurricane Michael entered the Gulf of Mexico, reported the US Bureau of Safety and Environmental Enforcement. No fixed drilling rigs had been evacuated. Five dynamically position rigs had been moved out of the storm’s path. Source: News
US clears Serica’s plans for fields off UK
Serica Energy PLC and BP PLC have received a conditional license and assurance from the US Office of Foreign Assets Control allowing work to continue at Rhum gas field in the UK North Sea although National Iranian Oil Co. holds a 50% interest through a subsidiary. The development allows Serica to proceed with acquisitions that will […]