Clayton Williams Energy Inc. expects to complete 10 horizontal wells this year in its 65,000-net-acre leasehold in the Delaware basin of Texas. Source: News
MARKET WATCH: NYMEX, Brent crude prices rally on US gasoline supply draw
The light, sweet crude oil price for September rallied by more than $1/bbl on the New York market Aug. 3 after the US Energy Information Administration reported a larger-than-expected drop in US gasoline supplies. Source: News
Vaalco CEO Guidry to retire; Bounds named to interim post
Steve Guidry, chief executive officer of Vaalco Energy Inc. since October 2013, will retire from the company and its board effective Sept. 1. Source: News
Enterprise, Oxy commission Delaware basin gas plant
Enterprise Products Partners LP (EPP) and an affiliate of Occidental Petroleum Corp., both of Houston, have commissioned a 150-MMcfd cryogenic natural gas processing plant in Reeves County, Tex., to handle growing rich-gas production from the Delaware basin. Source: News
API petitions federal court to review EPA oil, gas emissions rule
The American Petroleum Institute has sued the US Environmental Protection Agency, challenging the agency’s final rule that imposes emissions limits for new, reconstructed, and modified oil and gas sources. The Aug. 2 petition to the US Appeals Court for the District of Columbia seeks a judicial review for regulations the agency issued on June 3, […]
APICORP: MENA countries investing $10.3 billion to import LNG
Countries in the Middle East and North Africa (MENA) account for a rapidly rising share of global LNG demand and will invest about $10.3 billion in the “medium term” to meet import needs, says Arab Petroleum Investment Corp. (APICORP). Source: News
EIA: US crude-oil shipments by rail on decline
Movements of crude oil by rail in the US averaged 443,000 b/d in the first 5 months of 2016, down 45% from the same period last year, according to the US Energy Information Administration’s energy-by-rail data methodology report. Fewer shipments of crude oil by rail from the Midwest (PADD 2) to the East Coast (PADD […]
Phillips 66 finds buyer for Whitegate refinery
Canada’s privately held Irving Oil Ltd., Saint John, NB, has agreed to acquire the 71,000-b/d Whitegate refinery—Ireland’s only—from current owner Phillips 66 Co., Houston. Source: News
Newfield further shifts focus to Oklahoma STACK play
Newfield Exploration Co., Houston, has agreed to divest all of its assets in Texas in separate deals with Protege LLC, Tulsa, and an undisclosed buyer for combined net aftertax proceeds of $390 million. The two deals are expected to close in the third quarter. Source: News
CEQ releases final climate-change guidance for agencies’ NEPA reviews
The US White House Council on Environmental Quality (CEQ) issued its final guidance to federal agencies on how to consider climate-change impacts of their decisions during National Environmental Policy Act reviews. The US Chamber of Commerce and Center for LNG (CLNG) separately responded with warnings that CEQ’s Aug. 2 action could create more regulatory hurdles […]