Brent crude for April delivery rose by nearly $1/bbl on the London market Feb. 12 following a report that the Organization of Petroleum Exporting Countries reduced oil production in January by 797,000 b/d compared with December 2018. Source: News
EPA: US greenhouse gas emissions fell 0.3% in 2017 from year before
US gross greenhouse gas (GHG) emissions totaling 6,472 million tonnes of carbon dioxide equivalent (tCO2e) in 2017 came in 21.1 million tCO2e, or 0.3% less, than 2016’s 6,493 million tCO2e, the US Environmental Protection Agency reported. Source: News
EIA: New funding of US E&P companies lowest in 5 years
In 2018, publicly traded US oil and gas exploration and production companies issued the lowest amount of new funding since at least 2013, raising $14 billion in debt and $2 billion from public equity markets, according to an analysis by the US Energy Information Administration. Source: News
Harbert named as next AGA president
Karen A. Harbert, who has led the US Chamber of Commerce’s energy program for the past decade, will become the American Gas Association’s next president on Apr. 1. She will succeed David K. McCurdy, who plans to retire on Feb. 28. Harbert will be the first woman to lead AGA’s staff. Source: News
EIA revised down its 2020 oil price forecasts
In its most recent Short-Term Energy Outlook, the US Energy Information Administration forecasts Brent and West Texas Intermediate crude oil spot prices in 2020 will average $62/bbl and $58/bbl, respectively. Both prices are $3/bbl lower than EIA’s STEO from January. The lower price reflects the expectation of looser global oil market balances in 2020 compared […]
Sentinel to develop Texas GulfLink crude oil export terminal
Sentinel Midstream, Dallas, has reported plans to development Texas GulfLink, a proposed deepwater crude oil export terminal near Freeport, Tex. The completed facility will be capable of fully loading very large crude carrier vessels. Source: News
Stockholders approve Eclipse, Blue Ridge Mountain combine
Eclipse Resources Corp., State College, Pa., and Blue Ridge Mountain Resources Inc., Irving, Tex., moved closer to completing the all-stock deal to combine as the boards and stockholders from each company granted their respective approvals. Source: News
Shareholders approve Encana, Newfield merger
Encana Corp. and Newfield Exploration Co. expect to close on a deal to combine on Feb. 13 following approval of necessary proposals at the special shareholder meetings held Feb. 12. Source: News
APLNG combine lets Surat gas gathering pipeline contract
The Origin Energy-ConocoPhillips combine Australia Pacific LNG has let a package of gas gathering and infrastructure works worth $90 million (Aus.) to CPB Contractors—the Australasian construction company of Sydney-based engineering firm CIMIC Group—for the Surat basin of southeast Queensland. Source: News
DOJ makes settlement with Antero about Marcellus fracturing
Antero Resources Corp. has agreed to pay $3.15 million for Clean Water Act violations at 32 sites in three West Virginia counties affected by Antero’s Marcellus shale natural gas operations, the US Department of Justice reported. DOJ, the US Environmental Protection Agency, and the West Virginia Department of Environmental Protection said the West Virginia counties […]