ConocoPhillips Sees Global Oil Demand Returning The view stands in contrast to that of rival BP Plc, which sees the coronavirus pandemic leaving a lasting effect on global energy demand, though ConocoPhillips still expects “quite a bit of uncertainty next year.” This post appeared first on Hart Energy.
Read More...Top U.S. gas plays have added horizontal rigs recently but not enough to lead to a sustainable recovery for the sector, analysts say, as companies keep purse strings tightened. The optimism seen by some gas producers when the COVID-19 pandemic hit demand for oil, leading to a slowdown in oil production along with associated gas,
Read More...Max Midstream unveiled plans on Sept. 23 to develop a new export hub for U.S. crude oil on the Texas Gulf Coast following the acquisition of the Seahawk Pipeline and Terminal from Oaktree Capital Management LP. The revitalized terminal located at the Port of Calhoun is not only expected to connect the Port to both
Read More...Packaging giant Berry Global Group, Inc. and Azek Co.’s Azek Building Products are working together in a program to send Berry waste plastic to Azek for use in sustainable building materials, such as composite decking. Based in Evansville, Ind., Berry is the largest plastics processor in North America. The recyclable plastic will come from its
Read More...Constructing wells are capital intensive in terms of financial, operational and reputational risks. Artificial intelligence (AI) will be pivotal in leveraging both historical and new data from drilling operations to generate immediate, accurate and comprehensive insights for improved decision-making. Digital twins provide unprecedented insight into drilling operations for planning, optimizing and monitoring with advanced analytics. The technology allows
Read More...Canada’s Calfrac Well Services on Sept. 24 rejected a takeover offer of 18 Canadian cents per share from billionaire investor Wilks Brothers LLC and said it was sweetening its recapitalization plan to reduce debt. The new plan offers 15 Canadian cents in cash per common share and two warrants with the cash. Alternatively, the shareholders
Read More...A sharp rise in the deployment of carbon capture, utilization and storage (CCUS) technology is needed globally if countries are to meet net-zero emissions targets designed to slow climate change, the International Energy Agency (IEA) said on Sept. 24. A growing number of countries and companies are targeting net-zero CO₂ emissions by around the middle
Read More...The following information is provided by RedOaks Energy Advisors LLC. All inquiries on the following listings should be directed to RedOaks. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions. Summit Discovery Resources LLC retained RedOaks Energy Advisors as the exclusive adviser in connection with the sale of operated Eagle Ford
Read More...Mountain Valley Pipeline LLC asked federal regulators for permission to resume construction on the $5.4 billion to $5.7 billion pipeline from West Virginia to Virginia in the Appalachian Basin by Sept. 25. Mountain Valley said that would allow it to complete as many activities as possible before winter, according to a filing with the U.S. Federal
Read More...Näfels, Switzerland — KraussMaffei High Performance AG has developed a new Netstal PET line for beverage preform applications that it says is fully compatible with legacy side-entry molds and post-mold cooling stations. Officials of the Swiss subsidiary of Munich-based KraussMaffei Group call it a milestone in the history of the business, which has been focused
Read More...A private investment firm, Auxo Investment Partners, has purchased Fort Wayne, Ind.-based Paramount Tube Engineered Solutions and Cleveland-based Euclid Medical, which both operate under the brand Precision Products Group Inc., in a deal that closed Sept. 1. Terms of the deal were not disclosed in a Sept. 22 news release. Dave Hooe, CEO of PPG,
Read More...2020 has been an active year for Saudi Basic Industries Corp. (Sabic), as the materials firm reacts to the COVID-19 pandemic while advancing in sustainability. Polycarbonate and other materials made by Sabic are being used in face shields and other health care applications, Americas Vice President Greg Adams said on a Sept. 21 interview with
Read More...Earlier this week we brought you a post exploring whether or not PTT Global Chemical will, in the end, actually build a $10 billion ethane cracker plant in Belmont County, Ohio (see Is PTT Going to Build a Cracker in Belmont County, OH…or Not?). Yesterday gave us one more strong signal for the “yes they
Read More...On Tuesday Equitrans Midstream sent the Federal Energy Regulatory Commission (FERC) an official letter (called a filing) politely requesting FERC get off its collective rear end and grant permission to resume construction activities for Mountain Valley Pipeline (MVP) so they can complete certain kinds of work before winter sets in. Equitrans requested an order allowing
Read More...S&P Global analysts have been looking at natural gas production numbers for Pennsylvania. The most recently available data is from June (numbers are always delayed a few months). S&P found that shale gas production in PA dropped 2% in June from May, to 18.48 Bcf/d. June’s numbers were essentially flat to the same time in
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