Hess Corp. is planning a 2016 capital and exploratory budget of $2.4 billion, a 40% reduction from its 2015 actual spend of $4 billion and 20% below its preliminary 2016 guidance of $2.9-3.1 billion provided in October. Source: News
EPA relies on weak methodology to justify proposed methane regulations
On Feb. 18, 2012, The Economist declared: “The home of laissez-faire is being suffocated by excessive and badly written regulations.” These words are still valid today. Source: News
Challenges lurk in 2016 in wake of 2015's successes
As 2015 became 2016, one inevitable question was whether the US oil and gas industry was a victim of its own success. The domestic supply outlook was as bright as ever, thanks to continued production growth from unconventional technologies. Source: News
The methane context
Without context, the senseless can seem sensible. Source: News
Terrorism's next wave
The ties between infrastructure, politics, and terrorism lie close to the surface. Infrastructural development falls largely on a given country’s politicians and bigger companies. Source: News
EIA: US oil output in November edged down to 9.32 million b/d
US crude oil production during November 2015 totaled 9.32 million b/d, a decline of less than a percent from the October total but still up 1.3% compared with the November 2014 total, according to data from the US Energy Information Administration mostly based on data from its EIA-914 survey. Source: News
Graham named CEO of Memorial Resource Development
Jay Graham, former co-chief executive officer of WildHorse Resources II, has been named chief executive officer and director of Memorial Resource Development Corp., Houston. Source: News
Democrats raise methane questions as Senate debates broad energy bill
California’s two US senators—Barbara Boxer and Dianne Feinstein—said that they will introduce an amendment next week to wide-ranging energy legislation currently on the Senate floor. It would direct US Energy Sec. Ernest G. Moniz to lead a broad federal review of the cause and the response to a leak at Southern California Gas Co.’s Aliso […]
BHI: US rig count drops 18 units; global count could fall 30% in 2016
With oil-directed rigs representing two thirds of the decline, the US drilling rig count fell 18 units to 619 during the week ended Jan. 29, the latest Baker Hughes Inc. data show. Source: News
Indian state-run refiners propose grassroots refining complex
Public-sector refining firms Indian Oil Corp. Ltd. (IOCL), Bharat Petroleum Corp. Ltd. (BPCL), and Hindustan Petroleum Corp. Ltd. (HPCL) are planning a joint investment for construction of a grassroots megarefinery to be built along the coast of India’s Maharashtra state. Source: News