Flaring intensity in Texas is well below the historic highs of the 1950s and much lower than other nations around the world, according to a new Texas Railroad Commission report. As Commissioner Ryan Sitton, author of the report, explained: “Currently, Texas flaring levels – and flaring intensity – are notably lower than the rest of
Read More...Coloradans living near oil and natural gas development are most likely to support this activity, while the industry’s biggest opponents tend to live in areas with little to no production, according to a new study. Key findings: (1) Strong opposition to #fracking is mostly found in places where there is little to no drilling activity.
Read More...A bill introduced last week by Sen. Bernie Sanders (I-Vt.) that Rep. Alexandria Ocasio-Cortez (D-N.Y.) helped craft would ban fracking nationwide by 2025, according to its newly unveiled text. The legislation would immediately prevent federal agencies from issuing federal permits for expanded fracking, new fracking, new pipelines, new natural gas or oil export terminals and other gas and oil infrastructure. A House version
Read More...Dominion Energy is buying a 5% share in the Atlantic Coast Pipeline from Southern Co. for $175 million, according to Kallanish Energy. The deal makes Dominion, based in Richmond, Virginia, the majority partner in the project with a 53% stake. Duke Energy Corp., based in Charlotte, North Carolina, is now a minority partner with a
Read More...EQT Corp is considering selling a 1% royalty interest in its revenue from natural gas production, according to ShaleOhio. EQT’s new management team has been working to cut drilling costs and improve its financial outlook as domestic shale has experienced sharp price declines. During a third-quarter conference call, EQT evaluated ways to monetize its interest in
Read More...1. How big is the U.S. oil and gas industry, and what is its growth trajectory? The US oil and gas sector employs about 880,000 workers and contributes about $1.5 trillion towards the US gross domestic product, the growth of which has been heavily driven by shale production. Production of oil and gas hit record levels in 2019, with natural gas production
Read More...By MATTHEW BROWN Associated Press BILLINGS, Mont. (AP) — Oil production from federally-managed lands and waters topped a record 1 billion barrels last year, U.S. officials told The Associated Press, as shorter permitting times and technological advances helped drive new development. Critics charge that the gains being made by energy companies come at the expense
Read More...London (CNN Business)The amount of oil needed to run the global economy will decline sharply in the first quarter of this year as the coronavirus forces factories to close in China, snarls transportation and hits supply chains. Global oil demand in the first three months of 2020 is expected to drop by 435,000 barrels per day compared to
Read More...As a result of continued low natural gas prices, oil and gas companies have had to recalculate and reduce the value of their assets to reflect the down market, according to ShaleOhio. Last month, Chevron Corp. recorded a $10 billion impairment last month and more than half of it was attributed to assets in the
Read More...Montage Resources will cut capital spending by 44% this year in the Appalachian Basin, according to Kallanish Energy. The company plans on spending between $190 million and $210 million on capital spending. That estimate is down from the $357.5 million it recorded spending in the midpoint of 2019’s capital spending guidance. Montage Resources will be
Read More...This week’s column is about succession planning — both at your company and in your personal life. It’s a very important subject. What sparked this was the Plastics Academy’s announcement that Dennis Tully, the president and owner of MTD Micro Molding, is getting inducted posthumously into the Plastics Hall of Fame. Dennis was just 58
Read More...Concerns over what he considers a growing amount of plastics misinformation have led plastics veteran Chris DeArmitt to write a book: “The Plastics Paradox: Facts for a Brighter Future.” The book will be available next month on Amazon. The self-published book will be available in hardcover and as an electronic version. DeArmitt holds a PhD
Read More...Avon, Ohio — Plastics remain an important of the business model at specialty chemicals distributor Maroon Group. “We’re bullish long term on plastics because of the scale that we’ve built,” President and Chief Operating Officer Mike McKenna said Feb. 5 in an interview at Maroon’s headquarters in Avon. “Plastics are in a great spot for
Read More...Nylon 6/6 leader Ascend Performance Materials has acquired a pair of materials firms in Italy. Houston-based Ascend purchased Poliblend and Esseti Plast GD from D’Ottavio Group. The deal includes a manufacturing facility in Mozzate, Italy. No purchase price was disclosed. Esseti Plast is a producer of masterbatch concentrates. Poliblend makes compounds and concentrates based on
Read More...Merit SI LLC and KOMIPO America Inc. inked a joint development agreement on Feb. 12 to complete the development and construction of the 150 MW Concho Valley Solar project located in Tom Green County, Texas. Concho Valley Solar will deploy Merit SI’s advanced power plant controls platform, capable of enabling intermittent renewable power plants to
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