Total SA plans to reduce its capital expenditures to $20-21 billion in 2016 from $23-24 billion in 2015 and a peak of $28 billion in 2013. The French multinational firm says it then will return to a “sustainable level” of $17-19 billion in 2017 and beyond. Source: News
Wexpro, Piceance Energy form drilling JV for gas development
Wexpro Co., a subsidiary of Questar Corp., Salt Lake City, has entered into a joint venture with Laramie Energy II LLC subsidiary Piceance Energy LLC to develop natural gas-producing assets in western Colorado’s Piceance basin. Source: News
Half of Abu Dhabi’s oil output to come from offshore by 2018, news agency says
Offshore reserves will account for about half of total oil production in Abu Dhabi by 2018, according independent news agency UAE Interact. Currently about 40% of oil produced in Abu Dhabi comes from offshore reserves. Source: News
MARKET WATCH: NYMEX oil price held steady pending inventory report
Oil prices dropped less than $1/bbl on the New York market Sept. 22 as traders and analysts awaited the weekly US oil and product inventory report, which showed an overall decrease. Source: News
Habitat conservation collaboration keeps greater sage grouse unlisted
An unprecedented habitat conservation collaboration led the US Fish and Wildlife Service to not list the greater sage grouse as a threatened or endangered species. Listing the greater sage grouse under the Endangered Species Act would have triggered restrictions having significant adverse impacts on oil and gas operations. Source: News
Turkmenistan to expand gas processing, petchem production
Turkmenistan is planning to build a series of plants designed to expand natural gas processing and petrochemical production in a move to diversify and increase the country’s share of exports to global markets. Source: News
BOEM moves forward in review of Hilcorp’s Liberty prospect
Hilcorp Alaska LLC has officially submitted its development and production plan (DPP) for the Liberty prospect to the US Bureau of Ocean Energy Management (BOEM). Source: News
Enterprise brings Rancho II crude oil pipeline into service
Enterprise Products Partners LP (EPP), Houston, reported its 88-mile, 36-in. Rancho II crude oil pipeline is now online and able to transport supplies between Sealy, Tex., and the company’s Enterprise Crude Houston (Echo) storage terminal in southeast Houston. Source: News
MARKET WATCH: NYMEX oil price rebounds on signs of supply adjustments
Oil prices rebound $2/bbl on the New York market Sept. 21 on signs that the growth of US oil production might be slowing, but commodity prices resumed their zigzag pattern again in early trading on Sept. 22, giving up some of the previous day’s gains. Source: News
Atlantic Coast Pipeline applies for FERC permission to build
Atlantic Coast Pipeline LLC applied to the US Federal Energy Regulatory Commission for permission to build its 564-mile interstate natural gas transmission pipeline. The pipeline—owned by Dominion 45%, Duke Energy 40%, Piedmont Natural Gas 10%, and AGL Resources 5%—will transport as much as 1.5 bcfd southeast from Harrison County, W.Va., to Chesapeake, Va., and Robeson […]