Are you in the forecasting business? Not the weather, but business. (And isn’t everyone from CEOs to entrepreneurs and investors to engineers just doing their best to forecast what the market will need?) As you well know, the past year has defied expectations, but with a new administration in Washington and vaccines making their way
Read More...Tom ShepstoneShepstone Management Company, Inc. … … The Department of Energy just issued a comprehensive report about the dangers of banning hydraulic fracturing in this country. The Executive Summary follows: Abundant American oil and natural gas reserves are a strategic asset in driving sustained, long-term economic growth, achieving environmental goals, and enhancing the national security
Read More...Incoming U.S. president Joe Biden will announce America’s return to the international Paris Agreement to fight climate change on Jan. 20, the centerpiece of a raft of day-one executive orders aimed at restoring U.S. leadership in combating global warming. The announcements will also include a sweeping order to review all of ex-President Donald Trump’s actions
Read More...2020 Shale Technology Showcase In this special section, E&P highlights the latest technologies from more than 30 companies, showcasing how these tools are used for developing shale resources and how companies will benefit from the application of these advanced tools on their operations. This post appeared first on Hart Energy.
Read More...Akron City Council granted initial approval of a deal to allow horizontal drilling and fracking on 475 acres of public land at La Due Reservoir, situated upstream from the city’s main water supply, according to the Akron Beacon Journal. If approved again on Jan. 25 by all of the council, the deal would add another oil
Read More...Today’s arguments before the U.S. Supreme Court in the City of Baltimore’s climate litigation case went as both parties expected – focused on an arcane procedural rule. The Supreme Court justices raised an array of questions, delving into the procedural questions at hand as well as the broader questions of the underlying case. In the
Read More...The Trump administration said on Jan. 19 it had issued drilling leases on more than 400,000 acres (160,000 hectares) of Alaska’s Arctic National Wildlife Refuge (ANWR), delivering on a promise to fossil-fuel proponents on President Donald Trump’s last full day in office. Formal issuance of the leases by the U.S. Bureau of Land Management (BLM)
Read More...OPEC’s secretary-general said on Jan. 19 he was cautiously optimistic the oil market would recover this year from the slump in demand brought on by the coronavirus pandemic. Monthly meetings of OPEC and allies led by Russia—a group known as OPEC+—are there to stop an imbalance from re-emerging, OPEC’s Mohammad Barkindo told a virtual forum.
Read More...EIV Capital LLC and ARM Energy Holdings LLC formed a partnership on Jan. 13 focused on acquiring passive oil and gas interests across the Lower 48. The upstream joint venture, ARM Resource Partners LLC, will be led by Claire Harvey, an industry and investment veteran. Harvey most recently founded Gryphon Oil and Gas, a Blackstone-sponsored
Read More...Even if it was expected, the report that the incoming Biden administration would rescind the Keystone XL’s (KXL) cross-border permit—effectively killing the 12-year-old project—was a blow to the oil and gas industry’s system. Announced 12 years ago, TC Energy Corp.’s KXL is designed to move up to 830,000 bbl/d of Canadian crude from Alberta to
Read More...Maple Plain Minn.-based prototype and digital manufacturing specialist Proto Labs Inc. will purchase Amsterdam-based 3D Hubs Inc., an e-commerce software company, for $280 million. The deal is expected to close by the end of January. Once 3D Hubs, which uses software to match customers’ needs with manufacturing partners, is integrated with Proto Labs, customers “will
Read More...NGL Energy Partners LP provided an update on Jan. 19 regarding its global settlement with Extraction Oil & Gas Inc. following its expected emergence from bankruptcy. Extraction Oil & Gas is a customer of Grand Mesa Pipeline LLC, a subsidiary of NGL Energy Partners that provides takeaway capacity for crude oil producers in the Denver-Julesburg (D-J)
Read More...The industry downturn has spurred exploration and production companies to find new ways to reduce cost and increase efficiency. The legacy approaches used for scheduling and analyzing drilling programs are a key place to look for opportunities to improve operational processes and reduce cost, since drilling represents the majority of the dollars expended in monetizing
Read More...Windsor, Ontario-based Cavalier Tool & Manufacturing Ltd. has purchased Mold Services International Inc. (MSI) of nearby Oldcastle, Ontario, to increase its production capacity and technology to go after bigger projects. Founded in 1997, MSI manufactures injection and compression molds at a 22,000-square-foot facility for the automotive and other markets. Cavalier officials said the MSI plant
Read More...Prominent shale investor Dan Wilks on Jan. 19 reported a 7.5% active stake in troubled oilfield services firm ProPetro Holding Corp. through an investment vehicle, saying he may choose to push the company for a sale or other alternatives. Dan Wilks and his brother Farris Wilks made their fortune on the shale boom through a
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