Although Gulfport Energy saw an overall production increase in the second quarter of 2019 when compared to the same quarter a year ago, its Utica Shale production dipped slightly, according to Kallanish Energy. The company as a whole reported second quarter 2019 net production of 1.36 billion cubic feet-equivalent per day (Bcfe/d), which was a
Read More...Republicans took to the House floor this week to discuss “the American energy renaissance” that’s helped power economic growth, create jobs, boost innovation, lower emissions, and strengthen national security. The members who spoke are from the House Energy Action Team (HEAT) – a caucus of House Republicans led by Republican Whip Steve Scalise (R-La.), Rep.
Read More...Texas’ oil and natural gas industry is creating major economic benefits in the Lone Star State, thanks to record-breaking production in the Permian Basin. Texas Oil & Natural Gas Is Creating Jobs For instance, a recent economic analysis by the Perryman Group finds that the state’s oil and natural gas industry now supports one in
Read More...Inspired by the “throw everything at the wall” approach utilized in climate liability cases filed by municipalities across the country, the Rockefeller-funded Conservation Law Foundation is now changing its tactics in its lawsuit against Shell Oil Co. Chief Judge William Smith of the U.S. District Court for the District of Rhode Island ruled yesterday to
Read More...Range Resources recently agreed to sell assets in the Appalachian Basin for $634 million, according to Seeking Alpha. The company will sell a 2% net proportionately reduced overriding royalty interest in 350,000 net surface acres, which produced a combined 1.9 billion net cfe/day in the first quarter, in the southwest Appalachian Basin for $600 million.
Read More...In the Energy Information Administration’s newly released Drilling Productivity Report, it projects crude oil production in the U.S.’s most productive unconventional basins in the lower 48 states is projected to rise roughly 0.5% from July to August, according to Kallanish Energy. Overall production is expected to rise 49,000 barrels per day from 8.50 million barrels
Read More...Our pick of the downstream industry news you need to know. × EIA revises oil demand forecast The International Energy Agency (IEA) is reducing its 2019 oil demand forecast due to a slowing global economy amid a U.S.-China trade spat. The IEA is revising its 2019 global oil demand growth forecast to 1.1 million barrels
Read More...The Energy Information Administration projects natural gas production from the seven most productive basins in the lower 48 states will jump from 81.21 to 81.96 billion cubic feet per day from July to August, according to Kallanish Energy. Of the seven major basins, six are expected to see a month-to-month increase in production. The EIA’s
Read More...My good friend, Rick Stouffer, has written a superb article which outlines the truly opportunities coming to the Ohio River Valley. The Valley has world class infrastructure for the petrochemical industry. The roads, rail and river are second to none in the U.S. That’s why Shell is in Monaca, Beaver County, Pennsylvania and PTTGC is
Read More...(courtesy Herald Star newspaper, Linda Harris, staff writer) STEUBENVILLE — With one ethane cracker plant nearing completion and another inching closer to a construction announcement, Commercial real estate specialist Bryce Custer told Steubenville business leaders Monday they’re right where any entrepreneur would want to be: In the middle. Custer, a broker with NAI Ohio River
Read More...“The natural gas industry in the Appalachian Basin will see a major transformation with the Rice Brothers taking over the leadership at EQT,” commented Bryce Custer, one of the leading commercial realtors in the Appalachian Basin. Custer thinks drilling activity will become more focused in the Southwestern Pennsylvania and Southeastern Ohio. “We’ll be tracking activity,”
Read More...Another Positive Step Forward Bryce Custer, NAI ORC, comments that JobsOhio’s latest grant for the PTTGC cracker plant is making the plant construction one step closer. Custer stated, “I predict onstruction on the PTTGC cracker plant will begin when Bechtel is able to move workers from the Shell cracker plant in Monaca, Pennsylvania to Dilles
Read More...SEACOR Marine Holdings Inc. has announced that Robert Clemons has stepped down as executive vice president and COO, effective as of July 12, 2019. Clemons joined SEACOR Marine as executive vice president and COO in June of 2017, and was previously the vice president and COO of SEACOR Holdings Inc.’s Americas offshore division. “On behalf
Read More...Hillenbrand Inc., the parent company of compounding extruder maker Coperion, is buying Milacron Holdings Corp. in a cash and stock deal valued at approximately $2 billion. The transaction, announced July 12, is expected to close in the first quarter of 2020. The combined company is expected to generate annual sales of approximately $3 billion and
Read More...An intensifying tropical storm in the U.S. Gulf of Mexico (GoM) on July 11 cut more than half the region’s oil output, with energy companies evacuating staff from nearly 200 offshore facilities and a coastal refinery. Oil firms shut more than 1 million barrels per day (bbl/d) of oil production, 53% of GoM’s output, and
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