Scott DiSavino (Reuters) – U.S. energy firms cut the number of oil and natural gas rigs operating to a record low for a 10th week in a row but the rate of decline has slowed as higher oil prices prompt some producers to start drilling again. The U.S. oil and gas rig count, an early … Read moreU.S. oil & gas rig count falls to record low for 10th week: Baker Hughes
By Tara Weber BNN Bloomberg Western Correspondent There’s no denying it – getting a major pipeline project built is becoming a lot more difficult. New pipelines are facing increasingly savvy environmental activists and are getting caught up in political gamesmanship, resulting in many project delays and cancellations. As a result, investors are taking a greater shine to existing pipeline infrastructure that is already in … Read moreInvestors look to existing pipelines as new projects face major hurdles
By Saket Sundria and Alex Longley Jul 10, 2020 (Bloomberg) Oil fell as the International Energy Agency said a jump in Covid-19 cases could derail the market recovery, while Libya signaled the potential restart of crude exports. Futures slipped to near $39 a barrel in New York, and are down 4% this week. The IEA said … Read moreOil Slides on IEA’s Virus Warning and Libyan Export Restart
By Grant Smith Jul 10, 2020 (Bloomberg) The International Energy Agency bolstered its outlook for global oil demand, but warned that the recovery could be derailed by the resurgence of coronavirus.A collapse in fuel consumption during the second quarter was slightly less severe than previously estimated, and demand should rebound sharply over the next three months … Read moreIEA Warns Oil Demand Recovery at Risk From Virus Resurgence
July 09, 2020 | Source: Martin Midstream Partners L.P. KILGORE, Texas, July 09, 2020 (GLOBE NEWSWIRE) — Martin Midstream Partners L.P. (Nasdaq: MMLP) (the “Partnership”) today announced that it and its subsidiary, Martin Midstream Finance Corp. (“FinanceCo” and, together with the Partnership, the “Issuers”), have commenced two separate but concurrent transactions, and related consent solicitations, to extend … Read moreMartin Midstream Partners L.P. Announces Exchange Offer For Existing Notes, Solicitation of Acceptances of a Prepackaged Plan and Separate Related Cash Tender Offer Open to Certain Investors
Lesley Clark, E&E News July 10, 2020 Energy Secretary Dan Brouillette used the year’s chief global climate change conference to criticize 100% renewable electricity and to warn that government-mandated climate initiatives risk raising taxes and don’t take into account “real world” conditions. Speaking yesterday from Texas, where he plans to meet today with independent oil … Read moreBrouillette dismisses 100% renewables at climate summit
July 10, 2020 OPEC+ is another step closer to addressing the cheating that has dogged the cartel since its inception. Three weeks after a crackdown on members of the oil coalition lagging in their delivery of promised oil output cuts, the last main straggler has given assurances that satisfy the group’s leadership. Angola sent a … Read moreOPEC+ gets cheats in line as Angola makes new oil-cut pledge
Pamela King, E&E News reporter Friday, July 10, 2020 A federal judge yesterday refused to reverse his order this week that shuttered the Dakota Access pipeline pending a key environmental review.The dispute now sits with the U.S. Court of Appeals for the District of Columbia Circuit, which will consider whether Dakota Access developer Energy Transfer … Read moreJudge Won’t Undo Dakota Access Shutdown
Niina H. Farah, E&E News: Friday, July 10, 2020 The Supreme Court ruled yesterday that millions of acres in eastern Oklahoma are part of a Native American reservation when it comes to applying criminal law. A Supreme Court ruling yesterday declaring that nearly half of Oklahoma remains Native American reservation land is causing a stir … Read moreTribal lands ruling in Oklahoma: ‘Will it be ‘total chaos’ for oil?
By Robert Brown with contributions by Chuck Becht V In this difficult era of decreased margins and rapidly changing markets, onstream reliability is critical to the success of operating facilities. Achieving high onstream reliability can be particularly challenging for complex systems like a CATOFIN® Unit. The CATOFIN® Unit pairs extremely high operating temperatures with a … Read moreBecht: Multidisciplinary Approach to Improve Reliability of a CATOFIN Unit
Early job set-up and planning reduced the personnel intensity needs to meet COVID-19 safety requirements and the project being completed 15% under-budget with Zero incidents Vapour Phase cleaning was conducted on a plant in the Fort McMurray, Alberta area where the following equipment was cleaned: Feed Heat Exchangers Water Trim Coolers H2S Stripper and Auxiliary … Read moreCASE STUDY: Turnaround Vapour Phase Cleaning During Covid-19 – FourQuest Energy / FQE Chemicals
Crude oil is the world’s most important commodity, but it’s worthless without a refinery turning it into the products that people actually use: gasoline, diesel, jet-fuel and petrochemicals for plastics. And the world’s refining industry today is in pain like never before. “Refining margins are absolutely catastrophic,” Patrick Pouyanne, the head of Europe’s top … Read moreLost in Oil’s Rally: $2 Trillion-a-Year Refining Industry Crisis
By Rachel Adams-Heard, Ellen Gilmer and Jennifer A. Dlouhy Jul 9, 2020 (Bloomberg) Kelcy Warren, the billionaire pipeline mogul, has said he’s proud of the Dakota Access oil project like it were his son.So when a judge delivered a surprise ruling this week ordering the pipeline to shut until further environmental reviews are conducted, Warren flashed the … Read morePipeline Billionaire Girds for His Next War Over Dakota Access
LOS ANGELES/MADRID/LONDON (Reuters) – The booming rooftop solar panel industry nosedived overnight when the coronavirus forced homeowners to rein in spending and keep their distance from would-be installers. Now, in their struggle to survive, companies on both sides of the Atlantic are turning to online marketing rather than knocking on doors, using drones to inspect … Read moreRooftop revolution: Coronavirus chill upends solar power industry
By Rachel Adams-Heard and Ellen Gilmer Jul 8, 2020 (Bloomberg) Energy Transfer LP said it’s not making any moves to empty its Dakota Access oil pipeline after a judge on Monday ordered the conduit shut while a more robust environmental review is conducted.The Dallas-based company run by billionaire Kelcy Warren said it’s also accepting nominations for … Read moreEnergy Transfer Isn’t Shutting Dakota Access Despite Ruling
By Akshat Rathi Jul 7, 2020 (Bloomberg)Cars aren’t going away any time soon. So the ultimate green move will be combining two emerging technologies: autonomous driving and fully electric cars. Autonomy brings efficiency in driving and battery use, while electric cars drastically cut emissions, fuel costs and maintenance.Even so, a rift has developed within the automobile industry about … Read moreWhy the Cars of Our Self-Driving Future Will Be Electric
Miranda Willson July 9, 2020 The biggest oil-producing state in the country issued less than a third as many oil and gas drilling permits last month as it did in June 2019, another sign of the COVID-19 pandemic’s impacts on the energy industry.The Railroad Commission of Texas — which regulates oil producers — approved 312 … Read moreTexas drilling permits plunge 69%
E&E News Thursday, July 9, 2020 Protesters led a march to the Dakota Access oil pipeline route on Sept. 9, 2016, in Cannon Ball, N.D. Federal agencies and pipeline developers are under more pressure to take their time on environmental analysis after a recent court decision ordering the shutdown of the pipeline. Visual&Written/Newscom This week’s court-ordered … Read moreDakota Access NEPA ruling may end ‘build first’ strategy
By Nathaniel Bullard Jul 9, 2020 On Sunday, Virginia-based utility Dominion Energy Inc announced plans to sell almost all of its natural gas pipeline and storage assets to Warren Buffett’s Berkshire Hathaway Inc for $4 billion. At the same time, the Virginia-based utility said that it’s killing the Atlantic Coast gas pipeline despite a Supreme Court ruling … Read moreNatural Gas Is the Past. Natural Gas Is Also the Future.
By Aya Takada, Tsuyoshi Inajima and Stephen Stapczynski Jul 9, 2020 (Bloomberg) Japan tightened conditions for its support of overseas coal-power projects, but left the door open to new plants that use the dirtiest fossil fuel despite sustained criticism from environmentalists and dissent within its own government. The new policy, announced Thursday, is a blow to efforts … Read moreJapan Sustains Coal Support With Nod to Long-Term Green Goals
By Low De Wei and Alex Longley Jul 9, 2020 (Bloomberg) Oil traded below $41 a barrel in New York as coronavirus cases continued to surge across the world and U.S. crude stockpiles grew.Nationwide inventories rose last week, with supplies at the key storage hub of Cushing expanding for the first time since early May, according … Read moreOil Hampered by New Virus Cases While American Stockpiles Swell
By Emily Chasan Jul 8, 2020 (Bloomberg) It was a tough week for the North American fossil fuel industry. Over just a few days, the Atlantic Coast natural gas pipeline was canceled by developers, the Dakota Access oil pipeline was shut down by a federal judge and the Trump administration lost its Supreme Court bid to resuscitate the Keystone XL oil … Read moreThe Problematic Future of Gas Pipelines
By Anthony Robledo Jul 8, 2020 U.S. utilities are producing less greenhouse gases as they continue to shift away from coal.Carbon dioxide emissions from the 100 biggest U.S. electricity producers fell 8% last year, according to a report Wednesday from the environmental group Ceres. Sulfur dioxide and nitrogen oxides, two other key pollutants produced by burning … Read moreU.S. Utilities Are Cleaning Up Their Act With Emissions Down 8%
By Geoffrey Cann Have you ever wondered about the impact of digital technologies on gas stations? What’s to become of the thousands and thousands of gas stations in the low carbon future? Geneva Claesson and I were discussing this topic recently where we had a chance to speculate on the future of the oil industry. We spent some time noodling on some of the big sweeping … Read moreAre Gasoline Stations Doomed? – Geoffrey Cann
WRITTEN BY ROSS CLARK POSTED IN LATEST NEWS It is steadily becoming clear where the woke brigade will go once the current moral panic over racism has run its course (which can’t be long, following the news that London estate agents have stopped using the term ‘master bedroom’ to avoid its connotations with slavery). A week ago Andrew … Read moreCOMMENTARY: The Next Culture War Will Be Over Climate Change – Ross Clark
By Robert Tuttle and Kevin Orland Jul 8, 2020 (Bloomberg) At least 20% of shut-in Canadian production is being restored, just months after the price crash forced producers in Alberta’s oil sands to slash up to 1 million barrels a day of output. Cenovus Energy Inc., Husky Energy Inc. and Baytex Energy Corp. are among companies that have … Read moreOil-Sands Explorers Restore Some 20% of Shut-in Crude Production
By Saket Sundria and Alex Longley Jul 8, 2020 (Bloomberg) Oil traded below $41 a barrel as industry data pointed to higher American crude stockpiles before government figures later. The American Petroleum Institute reported that inventories rose by 2.05 million barrels last week, people with knowledge of the data said ahead of official figures to be … Read moreOil Below $41 With Signs of Swelling U.S. Crude Stockpiles
July 08, 2020 | Source: Harvest Oil & Gas Corp. HOUSTON, July 08, 2020 (GLOBE NEWSWIRE) — Harvest Oil & Gas Corp. (OTCQX: HRST) (“Harvest” or the “Company”) announced today that a wholly-owned subsidiary has entered into a definitive agreement to sell its Appalachian Basin assets, which will represent substantially all of the assets of the Company, … Read moreHarvest Oil & Gas Announces Entry into a Material Definitive Agreement for the Sale of Its Appalachian Basin Assets
Part Two: Process Automation With the advancements in technology and need to automate processes in the field, operators can move to a more proactive approach to operate their assets. The ability to validate events in the field to drive control is allowing the industry to increase operational efficiency while reducing EHS risks. Click here for … Read moreCOMING JULY 16th! Join Osperity and other Oil & Gas professionals for a roundtable to learn how video analytics can play a vital role in the future of process automation.
By Robert Tuttle and Sheela Tobben Jul 6, 2020 (Bloomberg) It was once the center of America’s shale boom — a vast reservoir of crude unleashed by hydraulic fracturing and horizontal drilling, turning North Dakota into the second-largest oil producer in the U.S. and helping transform the nation into the world’s largest supplier.These days, the Bakken … Read moreThe One-Time Heart of Shale May Never Boom Again With Dakota Access Shut
By Jennifer Jacobs and Eric Martin Jul 7, 2020 (Bloomberg) The White House dinner that President Donald Trump is hosting for his Mexican counterpart, Andres Manuel Lopez Obrador, will have business executives from both countries on the guest list, according to three people familiar with the matter. The Wednesday night event will be the closest thing … Read moreTrump to Host Mexican President, CEOs at White House Dinner
By Kevin Orland and Robert Tuttle Jul 7, 2020 (Bloomberg) This week’s escalation of American pipeline setbacks is heightening concerns among Canadian oil producers who export almost all of their crude to the U.S. Alex Pourbaix, the chief executive officer of Cenovus Energy Inc., called a ruling temporarily shutting down the Dakota Access pipeline on Monday … Read morePipeline Setbacks in U.S. Rattle Oil-Sands Producers in Canada
Ryan W. Oviatt and Cameron M. Tidball Promoted to Co-CEO and Co-President July 07, 2020 | Source: Profire Energy, Inc. LINDON, Utah, July 07, 2020 (GLOBE NEWSWIRE) — Profire Energy, Inc. (Nasdaq: PFIE), a technology company which creates, installs and services burner solutions in the oil and gas industry, announced today that Brenton W. Hatch is transitioning … Read moreProfire Energy Announces Executive Management Changes
By Brian Eckhouse Jul 7, 2020 (Bloomberg)Sunrun Inc., America’s biggest rooftop-solar company, is set to become a behemoth through a $1.46 billion takeover of its rival Vivint Solar Inc. Shares of both companies surged. The agreement announced late Monday is one of the industry’s biggest. It comes after Tesla Inc.’s 2016 purchase of debt-plagued SolarCity Corp. and … Read moreSolar Giant Sunrun Surges on Deal to Become a Rooftop Juggernaut
By David Wethe Jul 6, 2020 (Bloomberg) The shale industry is getting at least $2.4 billion in loans from the U.S. government’s Paycheck Protection Program aimed at helping businesses that are struggling with the impact of the coronavirus pandemic. The program will benefit more than 16,000 oil and natural gas explorers and service providers, according to data released … Read moreShale Patch Gets More Than $2.4 Billion in U.S. Virus Aid
NEW YORK (Reuters) – A U.S. District Court on Monday ordered Energy Transfer LP to shut and empty the largest pipeline from the North Dakota shale oil fields within 30 days, in a big win for the Native American tribes who have fought the line’s route across a crucial water supply. Energy Transfer’s 570,000 barrel-per-day … Read moreU.S. court orders Dakota Access oil pipeline to be shut, emptied
By Greg Stohr Jul 6, 2020, (Bloomberg)The U.S. Supreme Court refused to let construction start on TC Energy Corp.’s Keystone XL oil-sands pipeline, rejecting a bid by President Donald Trump’s administration to jump-start the long-delayed project.The justices, without explanation or noted dissent, left in force part of a federal court order that blocks use of a key … Read moreKeystone XL Pipeline Stays Blocked in U.S. Supreme Court Order
By Saket Sundria and Alex Longley Jul 7, 2020 (Bloomberg)Oil pared losses to trade near $40 a barrel before U.S. government data that’s forecast to show gasoline stockpiles increased.U.S. gasoline supplies expanded by 1 million barrels last week, according to a Bloomberg survey before industry figures expected later Tuesday. That was offset by the dollar … Read moreOil Near $40 With Volatility Falling and Gasoline Stocks Growing
July 07, 2020 | Source: Pure Acquisition Corp. FORT WORTH, Texas, July 07, 2020 (GLOBE NEWSWIRE) — Pure Acquisition Corp. (“Pure”) (NASDAQ: PACQ, PACQU, PACQW), an oil and gas exploration and production focused special purpose acquisition entity, today announced that it has amended its business combination agreement (the “HPK Business Combination Agreement”) with, among others, HighPeak Energy, … Read morePure Acquisition Corp. Announces Business Combination Merger Consideration
July 07, 2020| Source: Rattler Midstream LP MIDLAND, Texas, July 07, 2020 (GLOBE NEWSWIRE) — Rattler Midstream LP (NASDAQ: RTLR) (“Rattler”), a subsidiary of Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback”), announced today that it proposes to offer, subject to market conditions and other factors, $500 million aggregate principal amount of its senior notes due 2025 (the … Read moreRattler Midstream LP, a Subsidiary of Diamondback Energy, Inc., Launches $500 Million Offering of Senior Notes
By Katherine Chiglinsky Jul 6, 2020 (Bloomberg) Warren Buffett finally found his next crisis-era deal.His Berkshire Hathaway Inc., which has stayed relatively quiet during the tumult of the coronavirus pandemic, broke its silence at the end of a holiday weekend with its biggest acquisition in more than four years. The agreement for Dominion Energy Inc.’s natural … Read moreBuffett’s Berkshire Ends Deal Drought With Dominion Bet
July 06, 2020 | Source: NCS Multistage Holdings, Inc. HOUSTON, July 06, 2020 (GLOBE NEWSWIRE) — NCS Multistage Holdings, Inc. (“NCS” or the “Company”) (NASDAQ:NCSM) announced today that it has settled a patent infringement suit that was pending in the Western District of Texas, Waco Division (C.A. No. 6:20-cv-280). NCS had sued Innovex Downhole Solutions, Inc. … Read moreNCS Multistage Announces Settlement and License Agreement Resolving AirLock Casing Buoyancy System Patent Infringement Lawsuit Brought Against Innovex Downhole Solutions
July 06, 2020 | Source: Contango Oil & Gas HOUSTON, July 06, 2020 (GLOBE NEWSWIRE) — Contango Oil & Gas Company (NYSE American: MCF) (“Contango” or the “Company”) announced today that Farley Dakan has been promoted to the position of President of the Company. Additionally, the Company has appointed Chad Roller as Senior Vice President – … Read moreContango Announces Management Promotion and Additions; Clarifies Recent Share Registrations
By Rachel Adams-Heard and Ellen M. Gilmer Jul 6, 2020 To be an energy superpower, U.S. oil and natural gas requires a suitably gargantuan pipeline network that stretches for millions of miles. The country’s ability to expand that infrastructure is being tested like never before. In the span of less than 24 hours, a court … Read moreGrim Day for Pipelines Shows They’re Almost Impossible to Build
By Rachel Adams-Heard, Katherine Chiglinsky and Gerson Freitas Jr. Jul 6, 2020 (Bloomberg) One of the largest utilities in America is starting to turn its back on natural gas. Dominion Energy Inc., the second-biggest U.S. power company by market value, on Sunday said it’s selling substantially all of its gas pipeline and storage assets to Berkshire … Read moreU.S. Utility Giant Kills Pipeline, Sells Assets to Berkshire
Stay Visiable & Relevant with a Strong Digital Marketing Presence THE WORLD HAS CHANGED QUICKLY! In just a few months, a strong digital marketing presence just became your company’s most important, safe, reliable and consistent marketing tool. Expenses are being reduced but it is crucial some funds be available for an online presence. With … Read moreSave 20%, Get Extended Terms & Linkedin Images on ALL EnergyNow Marketing Plans – Don’t Wait to Expand Your Digital Marketing Presence – Details HERE
By Alex Longley and Saket Sundria Jul 6, 2020 (Bloomberg) Oil rose in London to above $43 a barrel as Saudi Arabia hiked its official selling prices, and as global equity markets climbed.Brent gained 1.3% in London to near the highest level since March. Saudi Aramco increased its crude prices to Asia as demand recovers. Libya’s oil exports are … Read moreOil Gains With Saudis Raising Prices, Equities Rallying
A rugged design, Drillform’s Bulldog Automated Floor Wrenches are well-suited to both onshore and offshore drilling applications. Advanced Offering innovative next-generation drilling solutions and practical design principles that will seamlessly integrate with existing rig automation. Efficient Superior automation and operational proficiency result in maximized rig performance. Safety-focused Designed with safety as a primary objective, removing … Read moreEquipment Feature: Drillform Automated Floor Wrenches Suitable to Onshore and Offshore Drilling Environments
Reuters U.S. energy firms cut the number of oil and natural gas rigs operating to a record low for a ninth week in a row although the reductions have slowed as higher oil prices prompt some producers to start drilling again.The U.S. oil and gas rig count, an early indicator of future output, fell by … Read moreU.S. Oil & Gas Rig count Hits Record Low for 9th Week -Baker Hughes
By Dana Hull Jul 2, 2020 (Bloomberg)Tesla Inc. reported a sequential gain in quarterly deliveries that seemed improbable weeks ago, sending its stock surging toward Wall Street’s most bullish price target. The electric-car maker handed over 90,650 cars to customers in the three months ended in June, exceeding analysts’ average estimate for about 83,000 in a … Read moreTesla Delivery Beat Sends Shares Surging Toward Top Price Target
By Andreas Kluth (Bloomberg Opinion)U.S. President Donald Trump is furious at Germany for many reasons, not all of them fathomable. In phone conversations with Angela Merkel, he’s allegedly called the German chancellor “stupid” and denigrated her in “near-sadistic” tones. Though this be madness, as the Bard might say, there is — on rare occasions — method in it. One such … Read moreNord Stream 2 Pipeline Could Sever U.S. Transatlantic Ties: Andreas Kluth
July 2, 2020 Business Wire Baker Hughes (NYSE: BKR) announced today that the Baker Hughes international rig count for June 2020 was 781 down 24 from the 805 counted in May 2020, and down 357 from the 1,138 counted in June 2019. The international offshore rig count for June 2020 was 194, down 1 from the … Read moreBaker Hughes announces June 2020 rig counts – See How the U.S. Stacks Up Against the World
By Elizabeth Low and Grant Smith Jul 3, 2020 (Bloomberg) Oil slipped on Friday, paring a weekly gain as surprisingly strong U.S. economic data and tightening crude supplies jostled with fears that a coronavirus resurgence will erode demand. Futures fell toward $40 a barrel in New York, but are still up 4.3% for the week. Crude … Read moreOil Pares Weekly Gain Amid Virus Fears, Signs of Tighter Supply
Laila Kearney, Devika Krishna Kumar NEW YORK (Reuters) – U.S. pipeline company Energy Transfer (ET.N) has taken the rare step of invoking force majeure – normally used in times of war or natural disaster – to prevent oil firms from walking away from a proposed expansion of the controversial Dakota Access pipeline, according to two sources … Read moreEnergy Transfer digs in on North Dakota pipeline expansion despite oil slump, sources say
By Akshat Rathi Jun 30, 2020 (Bloomberg) Plentiful reserves of fossil fuels and rich seams of valuable minerals are no guarantee of national health, wealth or happiness. The “resource curse” has blighted many countries: Venezuela and the Democratic Republic of Congo, for example, have suffered from years of graft, civil unrest and poverty.After discovering oil in the 1960s, … Read moreNorway’s $2.6 Billion Carbon Capture Plan Could Help the Whole Planet
By Aya Takada Jul 1, 2020 (Bloomberg) Japan may shut about 100 inefficient coal-fired power units by 2030 to reach its emissions reduction target under the Paris agreement.The powerful Ministry of Economy, Trade and Industry will soon start expert panel discussions on details of the closure plan, according to an official with the ministry. The shut downs are … Read moreJapan May Close 100 Old Coal Units by 2030 to Hit Emissions Goal
By David Wethe Jul 2, 2020, 7:38 AM – Updated on Jul 2, 2020, 8:47 AM Word Count: 285 (Bloomberg) —Exxon Mobil Corp. incurred an unprecedented second straight quarterly loss as almost every facet of the oil giant’s business slumped amid Covid-19 lockdowns that stunted economic activity.The explorer’s oil and natural gas unit took a hit … Read moreExxon’s Historic Losses Multiply on Virus-Driven Crude Slump
By Grant Smith and Julian Lee (Bloomberg)OPEC slashed oil production to the lowest level since the Gulf War in 1991, as it escalated efforts to revive global markets just as a resurgence of the coronavirus is threatening demand again.Saudi Arabia faithfully delivered the extra curbs promised in June, and the laggards, though still trailing in … Read moreOPEC Cuts Output to Lowest Since 1991 as Virus Slams Oil Demand
July 2, 2020 Reuters Canadian heavy crude’s discount narrowed versus West Texas Intermediate (WTI) on Thursday, the beginning of a new monthly trading cycle.Deep curtailments and ample space in storage and pipelines have compressed differentials, traders say. Western Canada Select (WCS) heavy blend crude for August delivery in Hardisty, Alberta, traded at $8.70 per barrel below … Read moreHeavy discount narrows, new trading cycle begins
By Hailey Waller and Andrew Marquardt Jul 2, 2020 (Bloomberg) Oil closed at its highest level in almost four months before the U.S. holiday weekend, cheered by signs the world’s biggest economy is recovering from coronavirus-related lockdowns, even as fears linger over a resurgence. Prices strengthened after a Labor Department report showed that payrolls rose by 4.8 million … Read moreOil Closes at Highest Since Early March on Robust Jobs Report
July 2, 2020 CNW CALGARY, AB and LANSING, MI – Enbridge Inc. (TSX: ENB) (NYSE: ENB) – Today the Ingham County Circuit Court of the State of Michigan amended its temporary restraining order requiring Enbridge to temporarily shut down the west segment of the Line 5 dual pipelines through the Straits of Mackinac. Enbridge will now begin safely restarting the west segment and anticipates operations … Read moreEnbridge resumes partial operation of line 5 dual pipelines
July 02, 2020 | Source: Petroteq Energy Inc. SHERMAN OAKS, Calif., July 02, 2020 (GLOBE NEWSWIRE) — Petroteq Energy Inc. (“Petroteq” or the “Company”) (TSXV:PQE; OTC:PQEFF; FSE:PQCF), an integrated oil company focused on the development and implementation of its proprietary oil-extraction and remediation technologies, notes the announcement issued by TomCo Energy PLC (“TomCo”) earlier today that following … Read morePetroteq Announces Management and Operations at Asphalt Ridge Facility to be Taken Over by Valkor LLC’s Newly-Established Joint Venture With TomCo Energy PLC, Greenfield Energy LLC
By Will Mathis and Akshat Rathi Jul 1, 2020 Government spending to develop clean energy technologies needs to triple this decade in order to prevent the worst effects of climate change, according to the International Energy Agency. As the rapid acceleration of wind and solar farms have significantly decreased emissions from electricity, other emissions-heavy industries … Read moreEnergy Innovation Spend Needs to Triple by 2030 to Hit Climate Goals
By Elizabeth Low, James Thornhill and Grant Smith Jul 2, 2020 (Bloomberg) Oil rose for a second day as a bigger-than-expected drop in American crude stockpiles and plunging output from OPEC producers outweighed nervousness about a coronavirus resurgence in the U.S.Futures held near $40 a barrel in New York after rising 1.4% Wednesday as the Energy … Read moreOil Edges Higher With U.S. Stockpiles Drop Offsetting Virus Fear
By Rachel Adams-Heard (Bloomberg) ConocoPhillips said it will begin restoring curtailed oil production in July as crude prices rebound from their lockdown depths.The company will bring back output in Alaska and other states next month, with Canadian production coming back in the third quarter. “Given ongoing variability and uncertainty in the outlook for production curtailments, the … Read moreConoco to Bring Back Curtailed Oil Output in Response to Rally
By Alex Longley Jul 1, 2020 (Bloomberg) Demand growth for refined oil products will never return to the levels it reached before the coronavirus outbreak, Citigroup said.As the global economy restarts, fewer people will fly and use their cars, analysts including Ed Morse wrote. With meetings going virtual and business no longer needing to move employees … Read moreDemand Growth for Oil Products Has Peaked, Citigroup Says
By Reed Stevenson Jul 1, 2020 (Bloomberg) Tesla Inc. displaced Toyota Motor Corp. as the world’s most valuable automaker, underscoring investor enthusiasm for a company trying to transform an industry that’s relied on internal combustion engines for more than 130 years.Shares of Tesla, which have more than doubled since the start of the year, climbed as much … Read moreTesla Overtakes Toyota as the World’s Most Valuable Automaker
June 30, 2020 Case involves Transcontinental Pipeline project Agency uses review process that delays litigation Federal regulators can’t dawdle on pipeline appeals and keep challengers out of court in the process, the D.C. Circuit ruled Tuesday in a landmark decision for energy law. The Federal Energy Regulatory Commission violated the law by routinely issuing “tolling … Read more‘Kafkaesque’ FERC Pipeline Process Needs Revamp, Court Says
By Bloomberg News Jun 30, 2020 (Bloomberg) Anthony Fauci, the U.S. government’s top infectious disease specialist, warned lawmakers that coronavirus cases could rise to 100,000 a day if behaviors don’t change. The European Union extended a travel ban for Americans, deeming the U.S. response to the outbreak insufficient.Weekly deaths involving coronavirus in England and Wales fell to their lowest in … Read moreTexas Cases Hit Record; Fauci Gives Grim Warning: Virus Update
By Hailey Waller and Andrew Marquardt Jun 30, 2020 (Bloomberg) Oil posted its best quarter in nearly 30 years, bouncing back from this year’s historic price crash. Futures in New York surged 92% in the three months through June 30th following crude’s worst quarter on record, buoyed by OPEC+ production cuts and rebounding oil consumption in … Read moreCrude Posts Best Quarter Since 1990 After Historic Price Crash
By Kevin Crowley and Akshat Rathi Jul 1, 2020 (Bloomberg) America’s biggest oil companies are coming under increasing pressure from climate-conscious investors to disclose their long-term forecasts for crude prices as the Covid-19 pandemic injects fresh uncertainty into the demand outlook for fossil fuels. Exxon Mobil Corp. and Chevron Corp. don’t publish such estimates, meaning that … Read moreExxon Faces More Pressure Than Ever to Release a Private Outlook
June 30, 2020| Source: Vantage Drilling International HOUSTON, June 30, 2020 (GLOBE NEWSWIRE) — Vantage Drilling International (“Vantage” or the “Company”), announced today that it has entered into a contract with Eni Montenegro BV (“Eni”) for its premium jackup rig, the Topaz Driller, to perform drilling services offshore of Montenegro for 180 days. Ihab Toma, the … Read moreVantage Drilling International Announces Contract for the Topaz Driller
June 30, 2020| Source: Lilis Energy, Inc. FORT WORTH, Texas, June 30, 2020 (GLOBE NEWSWIRE) — Lilis Energy, Inc. (NYSE American: LLEX; OTC Pink: LLEXQ) (the “Company”), an exploration and production company operating in the Permian Basin of West Texas and Southeastern New Mexico, announced today that it has received notification dated June 29, 2020 from … Read moreLilis Energy Receives Delisting Notice From NYSE American Transitions to OTC Pink Marketplace
June 30, 2020 | Source: Sanchez Energy Corporation HOUSTON, June 30, 2020 (GLOBE NEWSWIRE) — Sanchez Energy Corporation today announced that it has completed its financial restructuring and emerged from Chapter 11 as a privately held corporation under the name Mesquite Energy, Inc. (“Mesquite Energy” or the “Company”). In connection with the restructuring and pursuant to the … Read moreSanchez Energy Successfully Completes Financial Restructuring; Emerges as Mesquite Energy, Inc.
By James Crombie (Bloomberg) More U.S. retail companies sought bankruptcy protection in the first half of 2020 than in any other comparable period. Energy filings piled up at the fastest pace since oil prices plunged in 2016, data compiled by Bloomberg show.There have been 75 filings among all companies with liabilities of at least $50 million … Read moreU.S. Bankruptcy Tracker: Retail, Energy Set Grim Milestones
July 01, 2020 | Source: Targa Resources Corp. HOUSTON, July 01, 2020 (GLOBE NEWSWIRE) — Targa Resources Corp. (NYSE: TRGP) (“Targa” or the “Company”) announced today that Targa NGL Pipeline Company LLC (“Targa NGL Pipeline”), a wholly owned subsidiary of the Company, has launched an open season commencing July 1, 2020 and closing July 31, 2020 to … Read moreTarga NGL Pipeline Company Launches Open Season
July 01, 2020 | Source: Rosehill Resources Inc. HOUSTON, July 01, 2020 (GLOBE NEWSWIRE) — Rosehill Resources Inc. (NASDAQ:ROSE, ROSEW, ROSEU) (the “Company”) and Rosehill Operating Company, LLC (“Rosehill Operating,” and together with the Company, “Rosehill”) announced today that Rosehill has entered into a Restructuring Support Agreement (“RSA”) with the lenders under Rosehill’s revolving first lien credit … Read moreRosehill Resources Inc. and Rosehill Operating Company, LLC Enter Into Restructuring Support Agreement With Certain of Their Creditors
June 30, 2020 Reuters U.S. crude oil production dropped 669,000 barrels per day to 12.06 million bpd in April, the government said in a monthly report on Tuesday.The decline came as production fell 234,000 bpd in Texas, the largest oil-producing state, and 195,000 bpd in North Dakota. Output fell 16,000 bpd in federal waters in the … Read moreU.S. crude oil output falls 669,000 bpd to 12.1 million bpd in April
By Joe Ryan and Brian Eckhouse Jun 29, 2020 (Bloomberg) –Tesla Inc. is planning to expand a battery-research facility in the San Francisco Bay Area, adding manufacturing capabilities that would run 24 hours a day. The electric-car maker laid out its plans in documents filed with the city of Fremont, California, where the facility is … Read moreTesla Plans to Make Batteries in Bay Area
By Laura Hurst Jun 30, 2020 (Bloomberg) Royal Dutch Shell Plc said it will write down between $15 billion and $22 billion in the second quarter, as the company gave investors a wider glimpse of just how severely the coronavirus crisis has hit Big Oil. The pandemic left no part of the energy giant’s sprawling business … Read moreShell Warns of Multibillion Writedown as Virus Curbs Oil Demand
By Kevin Orland Jun 29, 2020 (Bloomberg) Alberta Premier Jason Kenney is using the Covid-19 pandemic to accelerate efforts to diversify his oil-dependent economy, a change of emphasis for a leader who once pledged to return the Canadian province to fiscal discipline.Kenney’s government announced an economic-recovery blueprint on Monday that includes moving up a cut in … Read moreCanada’s Oil Province Uses Covid Crisis to Speed Economic Revamp
By Elizabeth Low and Alex Longley Jun 30, 2020 (Bloomberg) Oil edged lower as the resurgence of the coronavirus in the U.S. continued to dampen the prospects of a broader demand recovery. Futures in New York fell 1.3% toward $39 a barrel. With the coronavirus running rampant across southern and western America and many states pausing or reversing … Read moreOil Edges Lower With New Virus Surge Darkening Demand Outlook
Cyphre’s newly patented encryption now operates at 5x the speed and is optimized for harsh edge environments June 30, 2020 | Source: RigNet, Inc. HOUSTON, June 30, 2020 (GLOBE NEWSWIRE) — RigNet (NASDAQ: RNET, the “Company”), the leading provider of ultra-secure, intelligent networking solutions, announced today that Cyphre has enhanced its technology portfolio to quintuple speeds … Read moreRigNet Announces Major Cybersecurity Enhancements
Barium sulfate deposits have long plagued oil field and gas production operations. These scales interfere with fluid flow, enhance corrosion, cause production losses, result in equipment replacement, damage equipment and may host bacteria. Scales can develop in the formation pores near the wellbore – reducing formation porosity and permeability. It can block flow by clogging … Read more4 NEW CASE STUDIES: Dissolution of Barium Sulfate Scale in Oil Production – FQE Chemicals
By Julian Lee (Bloomberg Opinion) The unprecedented OPEC+ deal in April, which led to drastic output cuts, is now entering its most dangerous phase, with oil demand and prices recovering. At the time, President Donald Trump claimed credit for the breakthrough, even though the U.S., the world’s biggest oil producer, wasn’t part of the agreement. Now the American president could play … Read moreTrump’s Inaction Makes Oil Market Management Harder: Julian Lee
Osperity’s all-in-one OMNI solution empowers organizations to remotely monitor and inspect industrial sites & assets with visual AI-driven event detection and exception-based alerting. Contact us today to find out about a free evaluation/trial
June 29, 2020 HOUSTON–(BUSINESS WIRE)–Crestwood Equity Partners LP (NYSE: CEQP) (“Crestwood”) announced today that Chesapeake Energy (NYSE: CHK) (“Chesapeake”), a customer in the Powder River Basin and northeast Marcellus, has filed for protection under Chapter 11 of the U.S. bankruptcy code. Crestwood has been preparing for this event over the past few months and is … Read moreCrestwood Responds to Chesapeake Energy’s Bankruptcy Filing
By Margaret Newkirk, Emma Court and Joe Carroll (Bloomberg) It became clear that Texas Governor Greg Abbott was in retreat when he closed the bars. Ever since restarting the Lone Star state’s economy in early May, Abbott ignored the pleas of mayors and county leaders to impose strict rules to stop Covid-19. The 62-year-old Republican appeared … Read moreHow Texas Lost Control of the Virus
Scott DiSavino June 26 (Reuters) – U.S. and Canadian energy firms cut the number of oil and natural gas rigs operating to a record low again this week even as higher oil prices prompt some producers to start drilling again. The U.S. oil and gas rig count, an early indicator of future output, fell by … Read moreU.S. oil & gas rig count falls to record low again – Baker Hughes
By James Herron and Laura Hurst Jun 29, 2020 (Bloomberg) BP Plc agreed to sell its chemicals business to Ineos Group Holdings SA, taking a big step toward strengthening its finances while also furthering its transitioning away from being a traditional oil company. The transaction means BP hits its target of selling $15 billion of assets … Read moreBP to Sell Chemicals Unit to Ineos for $5 Billion
By Helen Robertson and Sherry Su Jun 27, 2020 (Bloomberg) As OPEC and its allies make their deepest cuts yet to crude production, Norway’s giant Johan Sverdrup oil field is exporting more than ever before.Crude loadings from the field are set at a record 4.4 million barrels, or 465,000 barrels a day, in August, according to … Read moreAs OPEC+ Cuts Deeper, Norway’s Giant New Field Pumps Flat Out
By David Wethe Jun 28, 2020 (Bloomberg) The shale bust has reached a grim milestone by claiming the pioneer of America’s drilling renaissance. But Chesapeake Energy Corp., which filed for bankruptcy protection on Sunday, is just the latest in a long list of casualties.More than 200 North American oil and gas producers, owing over $130 billion … Read moreChesapeake’s Collapse Is Latest in Long Line of Shale Disasters
By Alfred Cang Jun 29, 2020 (Bloomberg)China’s state-owned oil refining giants are in discussions to form a purchasing group to buy crude together, increasing their bargaining power and avoiding bidding wars. Senior executives from China Petroleum & Chemical Corp., PetroChina Co., Cnooc Ltd. and Sinochem Group Co. are in advanced talks to iron out details … Read moreChina Oil Titans Plan Joint Crude Buying to Add Market Clout
By Elizabeth Low and Grant Smith Jun 29, 2020 (Bloomberg) Oil steadied in New York as the boost from a weaker dollar offset concerns that the resurgence of coronavirus will crimp fuel demand.Futures held above $38 a barrel, recouping earlier losses of 2.6% as the slide in the U.S. currency made dollar-priced commodities an attractive hedge. … Read moreOil Steady as Weaker Dollar Offsets Fears Over Virus Resurgence
By Dawn McCarty, Olivia Rockeman and David Wethe Jun 28, 2020 (Bloomberg) ”We are fundamentally resetting Chesapeake’s capital structure and business to address our legacy financial weaknesses and capitalize on our substantial operational strengths,” Chief Executive Officer Doug Lawler said in the statement. “Despite having removed over $20 billion of leverage and financial commitments, we … Read moreChesapeake Pushed Into Bankruptcy by Plunging Energy Prices
New Director Appointed June 29, 2020 07:00 ET | Source: Lilis Energy, Inc. FORT WORTH, Texas, June 29, 2020 (GLOBE NEWSWIRE) — Lilis Energy, Inc. (NYSE American: LLEX) (the “Company”), an exploration and production company operating in the Permian Basin of West Texas and Southeastern New Mexico, announced today that it has filed petitions under Chapter 11 … Read moreLilis Energy Voluntarily Files for Chapter 11 Bankruptcy
June 29, 2020 | Source: Occidental HOUSTON, June 29, 2020 (GLOBE NEWSWIRE) — Occidental Petroleum Corporation (“Occidental”) (NYSE: OXY) today announced that, in connection with its offers to purchase for cash (collectively, the “Tender Offers” and each a “Tender Offer”) the outstanding senior notes listed in the table below and Consent Solicitations (as defined below), it is increasing … Read moreOccidental Announces Upsize of Previously Announced Cash Tender Offers and Consent Solicitations for Certain of its Senior Notes
By Magnus Gustafsson Why do outlet collectors only rarely fail, even when subjected to pressure-drops well above the design basis of the collector? The answer lies in the design approach which incorporates simplifying assumptions to accommodate a tractable and conservative approach. These conservatisms can be relaxed where necessary to give results much more in line … Read moreOutlet Collector Pressure-Drop Assessment – Becht
By Jeffrey Bair, Olivia Raimonde and Barbara Powell Jun 26, 2020 (Bloomberg) After months of empty roads, lockdowns were easing and people were getting behind the wheel again. A station in Northern California was selling gasoline for a whopping $5.98 a gallon.Then the coronavirus struck again — in a fierce way. Californians, Floridians and Texans are back in … Read moreA Second Wave of the Virus Is Threatening U.S. Oil Demand Again
By Skyler Rossi and Paula Seligson Jun 26, 2020 (Bloomberg) Occidental Petroleum Corp. sold $2 billion of high-yield bonds Friday to help push out its steep maturity wall. The company issued unsecured bonds in three parts, including a $500 million five-year bond with a yield of 8%. It also priced a $500 million seven-year note at … Read moreOccidental Petroleum Sells $2 Billion in Debut Junk Bond Deal
By Olivia Raimonde Jun 26, 2020 (Bloomberg) Hundreds of billions of barrels of oil stranded by weak demand could accelerate companies’ pivot to cleaner energy, or threaten their long-term survival. BP Plc raised the possibility of stranded oil assets when it announced this month it would take the biggest writedown on the value of its business in a … Read moreCovid to Keep More Oil Underground, Forcing Drillers to Change
By Geoffrey Cann The oil and gas industry spends hundreds of billions each year on new capital projects. An effort by a group of international producers should eventually improve the efficiency of that spend. DIGITAL CAPITAL I was contacted recently by a trade association representing about 40% of the global production of oil and gas … Read moreTransforming Capital Projects Using Digital – Geoffrey Cann
By Frances Schwartzkopff Jun 25, 2020 (Bloomberg) If you really want to reform the fossil-fuel economy, you have to do it from the inside, according to the head of investments at Danske Bank A/S’s $70 billion pension fund. Poul Kobberup, chief investment officer at the Danica fund, says just buying green assets isn’t enough. Institutional investors … Read moreA $70 Billion Money Manager Wants Oil in His ESG Strategy
By Kevin Orland Jun 25, 2020 (Bloomberg) Enbridge Inc. was ordered to temporarily halt operations of its Line 5 crude oil pipeline by a Michigan judge, handing a victory to state officials who have sought to shut down the conduit.Circuit Court Judge James Jamo ruled Thursday against the continued operation of the conduit’s west line and prevented it … Read moreEnbridge to Shut Oil Pipeline in Win for Michigan Officials
By Kate Mackenzie Jun 26, 2020 (Bloomberg) We now live in a world where climate gentrification exists: People and institutions are starting to assess and appraise properties based on their susceptibility to climate impacts. The idea was largely hypothetical as recently as 2016, but over the past two years a decent body of work has emerged, much of it from U.S. academics, … Read moreLenders With the Best Climate Data Will Be in a Position to Discriminate
By Low De Wei and Alex Longley Jun 26, 2020 (Bloomberg) Oil headed for a weekly decline — only the second since April — as a surge in U.S. coronavirus cases clouded the demand outlook, though the pessimism was tempered by huge cuts to Russia’s seaborne crude exports. Futures in New York rose near $39 a barrel on … Read moreOil Set for Second Weekly Loss Since April on U.S. Virus Fears
June 25, 2020 CNW CALGARY, AB and LANSING, MI – Today a Michigan Circuit Court issued a Temporary Restraining Order requiring Enbridge (TSX: ENB) (NYSE: ENB) to shut down Line 5 through the Straits of Mackinac within 24 hours until a hearing on the State’s request for preliminary injunction can be held Tuesday, June 30, 2020 and a ruling made on the preliminary injunction. … Read moreEnbridge responds to temporary ruling on line 5 operations
June 25, 2020 | Source: VAALCO Energy, Inc. HOUSTON, June 25, 2020 (GLOBE NEWSWIRE) — VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (“VAALCO” or “the Company”) today announced that Catherine Stubbs and George Maxwell were elected as new independent directors to the Company’s Board of Directors at VAALCO’s 2020 Annual Meeting of Stockholders. Ms. Stubbs and … Read moreVAALCO Announces Changes to Its Board of Directors
June 25, 2020 | Source: Hi-Crush Inc. HOUSTON, June 25, 2020 (GLOBE NEWSWIRE) — Hi-Crush Inc. (NYSE: HCR) (“Hi-Crush” or the “Company”), a fully-integrated provider of proppant logistics solutions, today reported first quarter 2020 results, along with additional financial and operational updates. Revenues during the first quarter of 2020 totaled $146.4 million compared to $125.5 million … Read moreHi-Crush Inc. Reports First Quarter 2020 Results and Provides Additional Financial and Operational Updates
June 26, 2020 | Source: Martin Midstream Partners L.P. KILGORE, Texas, June 26, 2020 (GLOBE NEWSWIRE) — Martin Midstream Partners L.P. (Nasdaq: MMLP) (the “Partnership”) today announced that it, its general partner, Martin Midstream GP LLC, and its subsidiaries Martin Midstream Finance Corp. (“FinanceCo”), Martin Operating GP LLC, Martin Operating Partnership L.P., Redbird Gas Storage LLC, … Read moreMartin Midstream Partners L.P. Announces Entry Into Restructuring Support Agreement
by A.J. Mistretta Houston’s economy continues to struggle and likely will for the foreseeable future as it continues to contend with the effects of the COVID-19 pandemic and the collapse of the oil market. That was the main takeaway from the Great Houston Partnership’s (https://www.houston.org/) news Senior Vice President of Research Patrick Jankowski’s June 23 … Read moreEconomic Update: The Latest on Houston Jobs, the Energy Sector and More
June 25, 2020 Reuters U.S. energy companies slammed the brakes on returning staff to their Houston offices as COVID-19 cases soared and top hospitals warned they could soon run out of beds for the most severely ill patients. A record number of new illnesses in Texas this week spurred local officials to impose restrictions as new … Read moreAmerican oil firms slam brakes on return-to-work as virus cases soar
By Mikael Holter Jun 25, 2020 (Bloomberg) Norway’s plan for a full-scale carbon capture and storage project could end up a financial disaster, according to a new report that includes an increased cost estimate for the venture.The likely cost of building and operating the project over 10 years — most of which would be funded by … Read moreNorway Warned of Perils of $2.6 Billion Carbon Capture Plan
June 25, 2020 Reuters Canadian pipeline operator Enbridge Inc has to halt Line 5 operations and disclose information related to the recent damage caused to a part of the oil pipeline, a Michigan circuit court judge ordered on Thursday.The company has been asked to keep the damaged east line of the pipeline shut and also close … Read moreMichigan court orders Enbridge to temporarily shut down Line 5 pipeline
By Low De Wei and Alex Longley Jun 25, 2020 (Bloomberg) Oil extended declines after swelling U.S. crude stockpiles and a surge in coronavirus cases across the nation raised concerns about demand in the world’s largest economy.Futures in New York slipped 0.6% to below $38 a barrel, after the biggest fall in almost two weeks on … Read moreOil Falls Again With Virus Resurgence Casting Doubt on Demand
By Will Mathis and Akshat Rathi Jun 25, 2020 (Bloomberg) On particularly cold winter days, the vast majority of the U.K.’s energy comes from burning natural gas. That arrangement will have to change radically—and soon—if the country is to hit its legally mandated target of net-zero emissions by 2050. As other countries adopt similar targets to … Read moreBig Oil’s Long Bet on Hydrogen Offers a Climate Lifeline
June 24, 2020 | Source: Petroteq Energy Inc. SHERMAN OAKS, Calif., June 24, 2020 (GLOBE NEWSWIRE) — Petroteq Energy Inc. (“Petroteq” or the “Company”) (TSXV:PQE; OTC:PQEFF; FSE:PQCF), an integrated oil company focused on the development and implementation of its proprietary oil-extraction and remediation technologies, announces the amendment of three convertible debentures and three warrants issued to … Read morePetroteq Announces Amendment to Securities and Shares for Debt
Robert Rapier Senior Contributor Energy This week BP released its Statistical Review of World Energy 2020. The Review covers energy data through 2019, and provides a comprehensive picture of supply and demand for major energy sources on a country-level basis. This annual report is one of the most important sources of global energy data. It is … Read moreFossil Fuels Still Supply 84 Percent Of World Energy — And Other Eye Openers From BP’s Annual Review
June 24, 2020 | Source: VAALCO Energy, Inc. HOUSTON, June 24, 2020 (GLOBE NEWSWIRE) — VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) today provided the comments Cary Bounds, Chief Executive Officer will make during its upcoming 2020 Annual General Meeting that is being held at 9:00 am central time in Houston, Texas on Thursday, June 25, 2020. … Read moreVAALCO Provides Comments From Chief Executive Officer During 2020 Annual General Meeting Scheduled for June 25, 2020
June 24, 2020 16:30 ET | Source: Dril-Quip, Inc. HOUSTON and ABERDEEN, Scotland, June 24, 2020 (GLOBE NEWSWIRE) — Dril-Quip, Inc. (NYSE: DRQ) (the “Company” or “Dril-Quip”) and Proserv Group (“Proserv”) today announced an agreement pursuant to which Dril-Quip will rely upon Proserv for the development and manufacturing of its subsea control systems as a supplier. The … Read moreDril-Quip and Proserv Group Announce Strategic Agreement
By Breanna T Bradham Jun 23, 2020 (Bloomberg) Americans remain divided along partisan lines on the causes and effects of climate change, but two-thirds agree the government should be doing more to combat it.Majorities of both Republicans and Democrats favor a range of five initiatives to reduce the impacts of our changing planet, from taxing companies based on … Read moreMost Americans Say Government Must Do More to Fight Climate Change
By Kevin Crowley and Catherine Ngai Jun 24, 2020 (Bloomberg) As oil prices tick up to $40 a barrel following a pandemic-induced plunge, there’s a sense the shale industry is snapping back to life with Continental Resources Inc., EOG Resources Inc. and Parsley Energy Inc. all saying they’re restarting closed wells.But top industry forecasters are painting a far … Read moreShale Oil Recovery Is Seen Taking Years After Decade of Excess
OSLO (Reuters) – Norway is planning a major expansion of oil exploration in the Arctic, despite commitments to tackling global warming and opposition from environmental groups. Minister of petroleum and energy Tina Bru said on Wednesday the expansion was needed to protect jobs and generate wealth. The government will auction up to 136 new oil … Read moreNorway plans big expansion of Arctic oil exploration
By Hailey Waller Jun 24, 2020 (Bloomberg) A spike in U.S. coronavirus cases is threatening the oil market’s recovery from its historic plunge into negative territory. Futures in New York slid 5.9% to the lowest in a week on Wednesday. The decline comes as U.S. crude inventories rose for a third week to a fresh record, placing … Read moreCovid’s Comeback Is Threatening Oil’s Remarkable Price Recovery
0 Dual Telemetry MWD System: The main goal is to provide redundancy to reduce NPT. The two MWD system piggy-back an EM system with a separate Mud Pulse system and in some cases effectively doubling the operating cost of the deployed system. In a dual telemetry system, MWD tools usually combine an early generation EM … Read moreThe Important Difference between Unified Telemetry and Dual Telemetry MWD Systems – Evolution Engineering
By Sharon Cho and Alex Longley Jun 24, 2020 (Bloomberg) Oil fell in New York after an industry report signaled another increase in U.S. crude stockpiles, and easing physical markets are making it hard to sustain a recent rally. Futures dropped 2.2%, falling for a second session. The American Petroleum Institute reported that inventories rose by … Read moreOil Declines With Rising Inventories and Renewed Virus Spread
Plan reduces greenhouse gases by more than 6 million metric tons annually, the equivalent of removing 1.3 million cars from the road June 24, 2020 08:02 ET | Source: DTE Energy photo-release Detroit, June 24, 2020 (GLOBE NEWSWIRE) — DTE Energy today took another major step in building a cleaner energy future for Michigan. Last September, the company … Read moreDTE Gas announces 2050 net zero goal; unique and comprehensive plan addresses greenhouse gas emissions and invites customers to participate
By Matt Day and Candy Cheng Jun 23, 2020 (Bloomberg) Amazon.com Inc. is investing $2 billion on “sustainable and decarbonizing technologies” in an effort to eliminate its carbon footprint.The fund, which will be run by the company’s internal sustainability team and aided by Amazon’s corporate development group, will have a mandate to back technologies being developed … Read moreAmazon Is Starting $2 Billion Fund to Back Climate Technologies
By Kevin Orland and Robert Tuttle Jun 23, 2020 (Bloomberg) The shortage of pipeline space that has hamstrung Canada’s oil producers for years may finally be over — just not in the way they had hoped.The pandemic-induced oil crash prompted Canadian companies to cut about 1 million barrels of daily crude output, freeing up space on … Read moreAfter Years of Angst, Canada’s Oil Pipeline Problem May Be Over, For the Wrong Reasons
By MARC LEVY HARRISBURG, Pa. (AP) — The Trump administration has taken the final step to allow rail shipments of liquefied natural gas, a new front in the movement of energy products that had been opposed by environmental groups and 15 states. The U.S. Pipeline and Hazardous Material Safety Administration published the rule late last week … Read moreLNG shipments by rail approved in US amid pipeline battles
Watch Now – Click HERE SAP customers must decide if they’ll migrate to S/4HANA now, given the planned 2027 end-of-support deadline, or gain the flexibility and time to choose a roadmap and next-generation system that best fits their needs. A new IDG global survey reports that 85% of SAP customers surveyed plan to continue … Read moreWEBINAR: Navigating the Future of ERP – IDG Market Pulse Survey Results
June 22, 2020 CNW Inspections show no damage to twin pipelines CALGARY, AB and LANSING, Mich. – Enbridge Inc. (TSX: ENB) (NYSE: ENB) (Enbridge) said today the temporary restraining order and preliminary injunction sought by the Attorney General of Michigan is legally unsupportable, unnecessary, and will be vigorously opposed by Enbridge. Enbridge understands the importance of the Great Lakes to the … Read moreEnbridge Says Line 5 Injunction Unnecessary – Inspections Show No Damage to Twin Pipelines
WRITTEN BY Mark Olalde for the Energy News Network A pumpjack rusts among nut trees near Arvin, California, after its owner went bankrupt and orphaned it. Democrats leading the push say their plan has no real downside, while critics say it gives the industry a pass. When the U.S. was fighting to emerge from the Great … Read moreSupport grows for taxpayer-funded oil well cleanup as an economic stimulus
By Laura Millan Lombrana and Rachel Morison Jun 23, 2020 (Bloomberg) The electric vehicle sector has been stuck for years with a chicken-and-egg problem. Until there were extensive networks of public charging stations, a critical mass of people would never feel comfortable driving EVs—but until a critical mass of people were driving EVs, there was no sense in … Read moreElectric Car Charging Stations Are Finally About to Take Off
Oil resumed gains, clinging to a three-month high as signs of improving demand buoyed a market momentarily roiled by confusion over U.S.-China trade. Futures in New York rose 0.4% after President Donald Trump said the deal with Beijing was “fully intact” following remarks from a trade adviser that were interpreted as an end to the agreement. After … Read moreOil Recovers Losses After Trump Says China Trade Deal Still On
By Julian Lee (Bloomberg Opinion) Remember negative oil prices and the fear that every storage tank on the planet would get filled to the brim? That seems a long time ago, with West Texas Intermediate crude now hitting $40 a barrel and the buildup of stockpiles poised to go into reverse. The warning sent by that trip below zero was … Read moreBuyer Beware: Oil Stockpiles Are Enormous: Julian Lee
June 22, 2020 | Source: Contango Oil & Gas HOUSTON, June 22, 2020 (GLOBE NEWSWIRE) — Contango Oil & Gas Company (NYSE American: MCF) (“Contango” or the “Company”) announced today its financial results for the first quarter ended March 31, 2020. First Quarter 2020 Highlights Production of 1,720 Mboe for the quarter, or 18.9 Mboe per … Read moreContango Announces First Quarter 2020 Financial Results
June 22, 2020 | Source: Apache Corporation HOUSTON, June 22, 2020 (GLOBE NEWSWIRE) — Apache Corporation (Nasdaq: APA) today announced that it has opened the application season for its 2020-2021 Tree Grant Program. In its 15th year, the Apache Tree Grant Program has provided more than 4.7 million trees across 17 states since 2005. Last year, the … Read moreApache Opens Application for 2020-2021 Tree Grant Program
June 22, 2020 | Source: U.S. Well Services, Inc. HOUSTON, June 22, 2020 (GLOBE NEWSWIRE) — U.S. Well Services, Inc. (Nasdaq: USWS) today announced it has executed a contract to lease a turbine generator for peaking power and other power generation needs to a customer in Mexicali, Mexico. U.S. Well Services will deploy one of its … Read moreU.S. Well Services Finalizes Contract to Provide Power Generation Capacity in Mexico
By Geoffrey Cann The oil and gas industry spends hundreds of billions each year on new capital projects. An effort by a group of international producers should eventually improve the efficiency of that spend. DIGITAL CAPITAL I was contacted recently by a trade association representing about 40% of the global production of oil and … Read more
By Kevin Crowley Jun 22, 2020 (Bloomberg) Almost a third of U.S. shale producers are technically insolvent with crude at $35 a barrel, according to Deloitte LLP, highlighting the industry’s acute financial strain even as oil prices rebound from a record low earlier this year.West Texas Intermediate edged up to $40.06 a barrel at 11:38 a.m. in New … Read moreThird of U.S. Shale Near Technical Insolvency, Deloitte Says
By Sharon Cho Jun 22, 2020 (Bloomberg) As the OPEC+ alliance sticks to its guns in trying to curb oil output to shore up prices, Asian buyers are increasingly looking to the U.S. for a cheaper source of supply. Refiners in the top crude-importing region have been forced to accept big reductions in their regular contracted … Read moreAsian Buyers Turn to U.S. Oil Amid Uncertain Flows From OPEC
By Javier Blas Jun 19, 2020 (Bloomberg) OPEC+ is “on the right track” to re-balance the global oil market but still has “a long way to go,” Saudi Energy Minister Prince Abdulaziz bin Salman said on Thursday at the group’s Joint Ministerial Monitoring Committee. NOTE: Prince Abdulaziz’s comments are according to his introductory remarks made at … Read moreSaudi Oil Minister Sees ‘Encouraging Signs’ of Demand Recovery
By Lars Erik Taraldsen Jun 19, 2020 (Bloomberg) Norway is set to tighten rules for building wind turbines, caving in to massive protests from locals. A government proposal on Friday to slow down the development of onshore wind power comes after increasing local resistance mirrors sentiment in other European countries. Norway already decided to scrap a plan … Read moreNorway to Rein In Wind Power After Raging Opposition From Locals
By Alex Longley Jun 22, 2020 (Bloomberg) Oil held near $42 a barrel in London as investors weighed signs of rebounding demand against a resurgence in new coronavirus cases.A rise in coronavirus cases in Germany and the recent jump in China are underpinning the difficulty for oil consumption to return to levels seen before the pandemic. Still, OPEC … Read moreOil Holds Steady While Investors Weigh Demand Against Virus
Got service rigs? Drillform has an extensive line of automated service rig catwalks designed to fit your needs. Advanced Offering innovative next-generation drilling solutions and practical design principles that will seamlessly integrate with existing rig automation. Efficient Superior automation and operational proficiency result in maximized rig performance. Safety-focused Designed with safety as a primary … Read moreEQUIPMENT FEATURE: Drillform’s Bulldog Service Rig Catwalks
Posted by Terry Etam in Industrial Energy “I was very sad to see so-called progressives attempting to stifle free expression and secretly emailing allies in the movement to have the film taken down. It is disgraceful, pathetic, enraging and cowardly. It is also contrary to the values of anyone that considers themself [sic] an artist, filmmaker or journalist.” … Read moreTERRY ETAM: The Epicentre of Poisoned Energy Dialogues – a “Cowardly Mob of Upper-Class Social Media Addicts…Moving Straight to Intimidation”
Scott DiSavino (Reuters) – U.S. and Canadian energy firms cut the number of oil and natural gas rigs operating to a record low even as higher oil prices prompt some producers to start drilling again. The U.S. oil and gas rig count, an early indicator of future output, fell to a record low for a … Read moreU.S. and Canadian oil & gas rig count falls to record lows: Baker Hughes
Mel Larson, formerly Principle Consultant at KBC Advanced Technologies has joined the Becht team. With over 40 years of experience in refining and technical consulting working for Marathon and KBC, Mel is an FCC/ Alky SME as well as has extensive business planning and optimization expertise. He has broad experience consulting internationally including South Korea, … Read moreBecht Welcomes Mel Larson and Robert Ohmes
By David Stringer and Akshat Rathi Jun 17, 2020 (Bloomberg) Three decades of advances took lithium-ion batteries from powering handheld Sony camcorders to propelling Tesla’s popular electric vehicles. The rapid rise is facing a major test in the Covid-19 pandemic.Demand for rechargeable batteries will decline for the first time this year, as sales of electric cars—the biggest user—slump with … Read moreThe Electric Car Battery Boom Has Screeched to a Halt, For Now
By Alex Longley and James Thornhill Jun 19, 2020 (Bloomberg) Oil rallied as stronger consumption continued to push physical markets higher, even as many countries struggle to bring the coronavirus under control. Futures in New York traded above $40 a barrel on Friday and are up about 11% this week. Oil traders Vitol Group and Trafigura Group and … Read moreOil in New York Tops $40 With Demand Recovery Accelerating
By Robert Tuttle Jun 19, 2020 (Bloomberg) In a parched and dusty patch of land in California’s central valley, a series of wells has been pumping out some of the state’s dirtiest crude oil.Almost a century after the Chico-Martinez oilfield was first opened about 145 miles north of Los Angeles, it is still producing heavy crude. … Read moreCalifornia’s Dirty Little Secret Is Threatening Its Climate Ambitions
SALYERSVILLE, Kentucky (Reuters) – In May 2012, Hanson and Michael Rowe noticed an overpowering smell, like rotten eggs, seeping from an abandoned gas well on their land in Kentucky. The fumes made the retired couple feel nauseous, dizzy, and short of breath. Regulators responding to the leak couldn’t find an owner to fix it. J.D. … Read moreSpecial Report: Millions of abandoned oil wells are leaking methane, a climate menace
By James Thornhill Jun 18, 2020 (Bloomberg) Chevron Corp. will start a sales process for its interest in the North West Shelf project in Australia, one of the nation’s first liquefied natural gas export ventures, after receiving a number of approaches from potential buyers. The U.S. energy major has been looking to make cutbacks as the industry grapples … Read moreChevron to Start Sale Process for North West Shelf LNG Stake
By Julian Lee Jun 18, 2020 (Bloomberg) Oil consumption is set to recover from the impact of coronavirus more slowly than previously thought, even though the worst of the demand destruction doesn’t look quite as awful as had been feared a month ago. Global demand will still be below pre-pandemic levels by the end of 2021, never … Read moreOil Demand Recovery Set to Be Slower for Longer
By Alex Longley Jun 18, 2020 (Bloomberg) The oil market showed signs of tighter supply as key gauges of its health rallied, although concerns remain over a resurgence in coronavirus cases in China and the U.S.Futures in London and New York gained, while Brent for August was trading above the September contract, a sign of scarcer … Read moreOil Shows Signs of Stronger Demand, But Virus Dangers Lurk
By Nathaniel Bullard Jun 18, 2020 (Bloomberg) One of the world’s iconic energy technology sites is soon to become an energy technology artifact. The Mesa Wind project, built on federal land not far from Palm Springs, is one of the first major wind power projects in the U.S., and its 460 turbines have been whirring away … Read moreAs They Reach Retirement Age, Wind Farms Become Prime Investments
By Matthew Martin, Anthony Di Paola and Javier Blas Jun 18, 2020 (Bloomberg) Saudi Aramco, the world’s biggest oil exporter, has begun cutting hundreds of jobs as it looks to reduce costs after a slump in energy prices, according to people familiar with the matter. Aramco is letting go of mostly foreign staff across several divisions, … Read moreSaudi Aramco Slashes Hundreds of Jobs After Slump in Oil Prices
By Kevin Orland Jun 17, 2020 (Bloomberg) Ovintiv Inc., the oil and gas producer that moved its headquarters out of Canada earlier this year, is laying off staff across North America as it reduces drilling activity.The layoffs are coming roughly equally from the company’s offices in Calgary, Denver and The Woodlands, Texas, as well as from field … Read moreOvintiv Cutting Jobs Across North America as Oil Drilling Slows
June 17, 2020 | Source: Laredo Petroleum, Inc. TULSA, Okla., June 17, 2020 (GLOBE NEWSWIRE) — Laredo Petroleum, Inc. (NYSE: LPI) (“Laredo” or the “Company”), today named Bryan Lemmerman as Senior Vice President and Chief Financial Officer, effective June 30, 2020. Michael Beyer will be leaving the Company effective June 17, 2020. Mr. Lemmerman has more … Read moreLaredo Petroleum Names Bryan Lemmerman as Senior Vice President and Chief Financial Officer
By Rachel Adams-Heard Jun 16, 2020 (Bloomberg) Texas will look into policies to “drastically reduce” natural gas flaring from the state’s shale patch as investors become increasingly sensitive to climate change concerns.The call to action from the head of the Texas Railroad Commission, which oversees oil and gas production in the state, marks a stark tone … Read moreTexas Eyes Gas Flaring Curb to Allay Wall Street Climate Worries
By Dan Murtaugh Jun 16, 2020 (Bloomberg) Spending on renewable power is set to overtake oil and gas drilling for the first time next year as clean energy affords a $16 trillion investment opportunity through 2030, according to Goldman Sachs Group Inc.Renewables including biofuels will account for about a quarter of all energy spending next … Read moreGoldman Sees $16 Trillion Opening as Renewables Pass Oil and Gas
June 17, 2020 Reuters U.S. shale producers are expected to restore roughly half a million barrels per day (bpd) of crude output by the end of June, according to crude buyers and analysts, amounting to a quarter of what they shut since the coronavirus pandemic cut fuel demand and hammered oil prices.Such a swift rise in … Read moreU.S. shale companies to boost oil output by 500,000 bpd by month-end
By Ann Koh and Alex Longley Jun 17, 2020 (Bloomberg) Oil pared an earlier decline as equities rose, shrugging off some concerns about a second wave of coronavirus cases in China.Futures in New York were 0.7% lower, after falling as much as 3.1%. Stock markets in Europe gained as traders looked at stimulus measures to help … Read moreOil Retreats With Concerns of Second Wave China Outbreak Threatening Demand
By Brian Wingfield and Javier Blas Jun 16, 2020 (Bloomberg) After flooding the U.S. with crude earlier this year, Saudi Arabia has all but cut off the taps to the American oil market. The kingdom has exported just one cargo to the U.S. so far in June, equivalent to about 133,000 barrels a day, tanker-tracking data … Read moreSaudi Oil Exports to U.S. Plunge To Lowest Level in 35 Years By Brian Wingfield and Javier Blas
By Mark Chediak and Joel Rosenblatt Jun 17, 2020 (Bloomberg) Only 19 months after the Camp Fire erupted in the tinderbox mountains of Northern California, PG&E Corp., the power utility behind the deadliest conflagration in the state’s history, is poised to emerge from bankruptcy with its safety still in question.As the state braces for another … Read morePG&E Is Set to Exit Bankruptcy, Ending Saga Sparked by Fires
By Anthony Di Paola Jun 17, 2020 (Bloomberg) The world’s biggest oil exporter is hitting the brakes in developing some of its crude and natural gas deposits, idling two offshore drilling rigs as the coronavirus batters energy use. State-run producer Saudi Aramco has suspended work at the two platforms for about a year, according to filings … Read moreSaudi Arabia Idles Drilling Rigs as Pandemic Saps Oil Demand
June 17, 2020 | Source: Oil States International, Inc. HOUSTON, June 17, 2020 (GLOBE NEWSWIRE) — Oil States International, Inc. (NYSE:OIS) announced today that it has amended its credit agreement. Total lender commitments under the amended revolving credit facility are reduced to $200 million in exchange for the suspension of the existing financial covenants from July 1, 2020 … Read moreOil States Amends its Bank Credit Agreement
June 17, 2020 | Source: DCP Midstream LP DENVER, June 17, 2020 (GLOBE NEWSWIRE) — DCP Midstream, LP (NYSE: DCP) (the “Partnership”) announced today that its wholly owned subsidiary, DCP Midstream Operating, LP (the “Operating Partnership”), has commenced a public offering of $400 million aggregate principal amount of its senior notes due 2027 (the “Senior Notes”). The Senior Notes will … Read moreDCP Midstream, LP Announces Public Offering of $400 Million of Senior Notes due 2027
“A team you can count on. A product you can trust.” Gemini has a built a strong reputation for providing high quality fabrication and module assembly services to the Western Canadian energy sector. Through an all-in commitment from every individual on our team, Gemini is determined to work in partnership to deliver quality products … Read moreGemini Fabrication – Fabricators and Packagers of Process Equipment
“We moved to Rimini Street because the risks were low and we knew the financial savings would be a huge benefit. After we experienced far better support than what we had before, our decision was validated, and we’ve since significantly expanded our global footprint through Rimini Street support .” Simon Lytton, Global Applications Director, BrandSafway … Read moreGlobal Services Firm Drives Growth by Optimizing Oracle EBS, Payroll, JDE and Database Support
By Allison McNeely Jun 16, 2020 (Bloomberg) Chesapeake Energy Corp., a pioneer of the shale revolution, is putting the finishing touches on plans to hand control to creditors after it skipped a June 15 interest payment, according to a person with knowledge of the matter. The natural gas producer founded by the late Aubrey McClendon skipped a … Read moreChesapeake Energy Skips Interest Payment Ahead of Bankruptcy
Over the past decade, prices for solar panels and wind farms have reached all-time lows. However, the price for lithium ion batteries, the leading energy storage technology, has remained too high. So researchers are exploring other alternatives, including flow batteries, thermal batteries, and gravity-based systems. CORRECTION (March 14, 2020): At 12:53 we incorrectly identify the … Read moreWATCH: The Future Of Energy Storage Beyond Lithium Ion
June 16, 2020 Reuters U.S. natural gas futures traded within a few cents of unchanged on Tuesday on forecasts calling for similar weather and demand over the next two weeks as in the previous session. Front-month gas futures rose 0.5 cents, or 0.3%, to $1.674 per million British thermal units at 7:49 a.m. EDT (1149 … Read moreU.S. natgas futures little changed on steady weather, demand forecasts
By Ann Koh and Alex Longley Jun 16, 2020 (Bloomberg) Brent crude rose above $40 a barrel as broader markets rallied on stimulus from the Federal Reserve and physical supplies continued to look tight.Futures in London rose for a second session. India’s oil minister said consumption in the first half of June had recovered to levels … Read moreOil Rises on U.S. Stimulus and Tighter Supplies
By Jeffrey Bair Jun 16, 2020 (Bloomberg) In a sign that U.S. fuel demand is improving, gasoline futures are once again rallying when massive oil refineries shut down. Houston gasoline on Monday climbed to a three-month high after Motiva Enterprises LLC shut a key gasoline-making unit at the largest U.S. refinery, in Port Arthur, Texas. Earlier, … Read moreOne Sign Americans Are Hitting the Road Again: A Gasoline Rally
By Laura Hurst Jun 16, 2020 (Bloomberg) The coronavirus has exposed the fragility of some of the world’s biggest oil and gas companies, but also given them the opportunity to make investors swallow some unpleasant remedies. Since the pandemic started, BP Plc and Royal Dutch Shell Plc have made drastic changes to their businesses, from multibillion … Read morePandemic Brings Pain and Opportunity for Fragile Oil Giants
By Grant Smith Jun 16, 2020 (Bloomberg) Global oil demand will rebound next year as the world emerges from the coronavirus pandemic, but recovering to pre-crisis levels may take a couple of years, the International Energy Agency said. Fuel use around the world will remain 2.5% lower next year than in 2019, largely because of the … Read moreOil Demand Recovery May Take a Couple of Years, IEA Says
By Brian Eckhouse Jun 16, 2020 (Bloomberg) The U.S.’s Great Plains and desert Southwest have sweeping winds, abundant sunshine, and, crucially, not many people. Low population means lots of unoccupied land and very few buildings to block the breeze or throw shade, making them ideal for the production of renewable energy. This presents a problem: because there are … Read moreBefore the U.S. Can Have Clean Power, It Needs More Power Lines
June 15, 2020 | Source: Key Energy Services, Inc. HOUSTON, June 15, 2020 (GLOBE NEWSWIRE) — Key Energy Services, Inc. (“Key” or the “Company”) announced today the appointment of Nelson Haight as Senior Vice President, Chief Financial Officer and Treasurer. Mr. Haight is an accomplished professional with three decades of experience in senior level positions with public and … Read moreKey Energy Services Announces Appointment of New Chief Financial Officer
June 16, 2020 | Source: Comstock Resources, Inc. FRISCO, TX, June 16, 2020 (GLOBE NEWSWIRE) — Comstock Resources, Inc. (NYSE:CRK) (“Comstock” or the “Company”) announced today that it intends, subject to market conditions, to offer $400 million of its 9.75% senior unsecured notes due 2026 in a registered underwritten offering. Comstock intends to use the net … Read moreCOMSTOCK RESOURCES, INC. ANNOUNCES PUBLIC OFFERING OF SENIOR NOTES
By Anthony Di Paola and Mahmoud Habboush Jun 15, 2020 (Bloomberg) Oil-production limits adopted by a group of major crude suppliers will soon bring prices back to “normal,” according to the oil minister from the United Arab Emirates.When energy markets were in freefall as the coronavirus pandemic crushed demand, crude rising to $40 a barrel was … Read moreOPEC+ Deal Will Bring Oil Back to ‘Normal’ as Producers Commit
June 15, 2020 | Source: Contango Oil & Gas HOUSTON, June 15, 2020 (GLOBE NEWSWIRE) — Contango Oil & Gas Company (NYSE American: MCF) (“Contango” or the “Company”) announced today that it has amended certain provisions of its senior credit agreement, results of recent drilling activity and production for the first quarter of 2020, and the expected … Read moreContango Announces Amendment to its Senior Credit Facility, Certain Operational Updates and the Schedule for its First Quarter 2020 Earnings Release
June 15, 2020| Source: Mid-Con Energy Partners, LP TULSA, June 15, 2020 (GLOBE NEWSWIRE) — Mid-Con Energy Partners, LP (NASDAQ: MCEP) (“Mid-Con Energy” or the “Partnership”) announced today its operating and financial results for first quarter 2020 and details of the recently announced strategic recapitalization transactions. RECENT DEVELOPMENTS As announced on June 5, 2020, the Partnership … Read moreMid-Con Energy Partners, LP Announces First Quarter 2020 Operating and Financial Results, and Details of Recently Announced Strategic Recapitalization Transactions
By Hailey Waller and Grant Smith Jun 15, 2020 (Bloomberg) Oil reversed losses as investors shifted focus from a potential resurgence of Covid-19 outbreaks and toward supply-and-demand fundamentals.Crude futures in New York rose about 1% on Monday after earlier falling as much as 5.2%. The recovery came as equity markets pared losses. Iraq cut term oil sales to … Read moreOil Rises on Tightening Worldwide Supply-and-Demand Signals
By Greg Stohr Jun 15, 2020 (Bloomberg) The U.S. Supreme Court upheld a crucial permit for Dominion Energy Inc.’s planned $8 billion Atlantic Coast Pipeline, saying the Forest Service acted lawfully by clearing the natural-gas line to cross under the Appalachian Trail. The 7-2 ruling eliminates the biggest obstacle to the 600-mile (965-kilometer) pipeline, which would … Read moreSupreme Court Upholds Key Permit for Atlantic Coast Pipeline
By Ann Koh and Grant Smith Jun 15, 2020 (Bloomberg) Oil fell again as a fresh coronavirus outbreak in China, and increases in cases elsewhere, spurred concerns that a second wave of the virus will derail a nascent economic recovery.Futures traded near $35 a barrel in New York, sinking in tandem with equity markets, after losing … Read moreOil Extends Losses on Fears Second Virus Wave Will Hit Economy
By Sheela Tobben Jun 15, 2020 (Bloomberg)Yet another Texas terminal is preparing to export oil, even as the pandemic continues to hammer global demand for U.S. crude.Buckeye Partners LP expects to start loading ships with oil for export in the second half of July, after receiving crude at its South Texas Gateway terminal in the … Read moreTexas Oil-Export Terminals Start Up Even as Shipments Tumble
By Laura Hurst and Amanda Jordan Jun 15, 2020 (Bloomberg) BP Plc will make the biggest writedown on the value of its business since the Deepwater Horizon disaster a decade ago, as the coronavirus pandemic hurts long-term oil demand and accelerates the shift to cleaner energy. In a dramatic revision that prompted questions about the affordability … Read moreBP Writes Off Billions as Covid Redraws Rules of Oil Demand
Scott DiSavino June 12 (Reuters) – U.S. energy firms cut the number of oil and natural gas rigs operating to a record low for a sixth week in a row even as oil prices rebound from historic lows and some producers return to the wellhead. The U.S. oil and gas rig count, an early indicator … Read moreU.S. oil & gas rig count hits record low for 6th week -Baker Hughes
June 12, 2020 Reuters LONDON/MOSCOW, June 12 – An OPEC-led panel meeting to review the oil market this week will advise the wider OPEC+ group cooperating on a record supply cut, five OPEC+ sources said, meaning further talks would be needed on whether to extend the agreement further. OPEC, Russia and allies, known as OPEC+, agreed … Read moreOPEC+ panel meeting this week will advise on policy, not decide
Announces Entry into Restructuring Support Agreement and $125 Million Financing Facility to Position Company for Long Term Success June 15, 2020 | Source: Extraction Oil & Gas, Inc. DENVER, June 14, 2020 (GLOBE NEWSWIRE) — Extraction Oil & Gas, Inc. (NASDAQ: XOG) (together with its subsidiaries, “Extraction” or the “Company”) announced today that the Company has … Read moreExtraction Oil & Gas, Inc. Files for Chapter 11 Protection
CDN NEWS | 
US NEWS 
