The latest Texas Petro Index reflects the ongoing contraction of the upstream oil and gas economy in Texas, falling 10.7 points to 235.4 in August compared with July. Source: News
Federal judge issues preliminary injunction of BLM’s fracing rule
A federal court judge in Wyoming issued a preliminary injunction that will keep the US Bureau of Land Management from enforcing its hydraulic fracturing rule until legal challenges against it are resolved. Source: News
PBF Energy inks deal for California refinery, logistics assets
PBF Holding Co. LLC, a subsidiary of PBF Energy Inc., Parsippany, NJ, has entered an agreement to buy ExxonMobil Corp.’s 155,000-b/d refinery in Torrance, Calif., which has been shuttered since early this year following an explosion and ensuing fire that struck the plant in February. Source: News
MARKET WATCH: NYMEX oil prices drop slightly on higher inventory
Light, sweet crude oil prices declined slightly to settle at just above $45/bbl lower on the New York market Sept. 30 after weekly inventory statistics showed a build in US oil and product inventories. Source: News
Three blocks awarded in Mexico’s Round One second tender
Mexico’s National Hydrocarbons Commission (CNH) awarded three of five shallow-water blocks in its Round One second tender, a more successful auction than the first in July that received just 2 bids on 14 blocks. All five blocks are part of the Southeast basin in the Gulf of Mexico. Source: News
Federal, state officials offering differing views of the ESA
The Endangered Species Act works best when state governments and local stakeholders are heavily involved, witnesses testifying before a US Senate Environment and Public Works subcommittee agreed. But they strongly differed on whether the 1973 law itself is still effective, or needs to be reformed. Source: News
BLM seeks comment on proposed oil production measurement rule update
The US Bureau of Land Management is seeking public comments on a proposed rule that would update and replace its regulations governing the measurement of oil produced from onshore federal and Indian leases. Source: News
Appraisal wells indicate communication with Alta discovery
Lundin Norway AS is considering two more appraisal wells after recent results from wells near the 2014 Alta oil and gas discovery in the Barents Sea. Source: News
San Leon discovers gas onshore Morocco
San Leon Energy PLC, Dublin, found gas shows within a 23-m-thick reservoir section of sandstone and conglomerate with its Laayoune-4 well drilled on the Tarfaya conventional license of Morocco’s Sahara region. Source: News
Witnesses cite pipeline safety progress, and unfinished work
Significant progress has been made in making US oil and gas pipelines safer and reducing the number of accidental releases, government and industry witnesses agreed at a US Senate Commerce, Science, and Transportation subcommittee hearing. But they also emphasized that more work needs to be done. Source: News