U.S. Federal Gulf of Mexico crude oil production to continue to set records through 2020 – Today in Energy – U.S. Energy Information Administration (EIA) — Read on www.eia.gov/todayinenergy/detail.php Advertisements
The oil field services company is seeing reduced activity in its Rockies customers, so 650 people in Colorado, Wyoming, New Mexico and North Dakota were affected. However, the company is offering the majority of them the option to move to other operating areas where it’s expecting higher demand, according to a company statement. “Making this […]Read more "Halliburton cuts hundreds of jobs in the Rockies – Houston Business Journal"
A deep dive into the nation’s oil and gas reserves and production recently was undertaken by Ernst & Young LLP, looking at reserve disclosure information from 2014 through 2018. That period ranges from the triple-digit prices of early 2014 through the crash to near $30 a barrel in early 2016 and the price recovery since […]Read more "Study details Permian’s role in reserves growth – Midland Reporter-Telegram"
When car enthusiast John Hennessey started a YouTube channel more than a decade ago, he just wanted his Sealy auto modification shop to keep up with the times. Fast forward 12 years and Hennessey’s social media presence has exploded to 340,000 YouTube subscribers and 1 million Instagram followers watching his mechanics modify high-end cars and […]Read more "Courting millennials, Shell, Phillips 66 turn to social media influencers – HoustonChronicle.com"
Midland’s Concho Resources said Tuesday it will sell its more mature Permian Basin assets in New Mexico for $925 million to the Houston startup Spur Energy Partners. Concho, which has struggled financially of late, will use the funds to cut down on debt and initiate a share buyback program to help appease Wall Street, while […]Read more "Concho sells Permian assets to Houston’s Spur Energy for $925M – Midland Reporter-Telegram"
Dallas pipeline operator Energy Transfer is asking federal regulators for a five-year extension to build the company’s proposed Lake Charles LNG export terminal. Energy Transfer received a federal permit for the project in December 2015. Under the terms of that the permit, the 240-acre liquefied natural gas export terminal was supposed be operational by December […]Read more "Energy Transfer seeks five-year extension to build Lake Charles LNG export terminal – Houston Chronicle by Sergio Chapa"
Asia’s crude oil imports from the United States climbed to a record in August, but that may be as good as it gets for some time – and it’s not just the escalating trade war between Washington and Beijing to blame. — Read on www.reuters.com/article/column-russell-crude-usa-asia/column-asias-imports-of-u-s-crude-hit-record-but-pullback-likely-russell-idUSL3N25U1CCRead more "COLUMN-Asia’s imports of U.S. crude hit record, but pullback likely: Russell – Reuters"
Companies have proposed at least eight offshore oil-export terminals — many requiring billions of dollars in investment — that would stretch from off the coast of Brownsville to southeastern Louisiana and take advantage of a new flood of crude from the booming Permian Basin as several pipelines connecting West Texas and the Gulf Cast near […]Read more "The race to build offshore oil export terminals – HoustonChronicle.com"
Moody’s latest outlook for the global exploration and production business—which reflects its expectations for the fundamental business conditions in the industry over the next 12-18 months—is stable. — Read on www.ogj.com/general-interest/economics-markets/article/14036829/moodys-outlook-stable-for-global-ep-growthRead more "Moody’s: Outlook stable for global E&P growth | Oil & Gas Journal"
Pipeline, terminal shortages will continue to hamper Permian growth – Houston Chronicle — Read on m.chron.com/business/energy/article/Pipeline-terminal-shortages-will-continue-to-14128272.phpRead more "Pipeline, terminal shortages will continue to hamper Permian growth – Houston Chronicle"