During the first quarter of 2019, both oil and natural gas production in Ohio’s Utica Shale saw decreases from the fourth quarter of 2018, according to the Farm and Dairy. The Ohio Department of Natural Resources Division of Oil and Gas Resources Management reported 5,073,536 barrels of oil and 609,452,391 Mcf (609 billion cubic feet)
Read More...Argentine oil company YPF SA said it’s now loading the first shipment of liquefied natural gas for export from the South American country, Kallanish Energy reports. The shipment includes 30,000 cubic meters (1.06 million cubic feet, or Mmcf) of LNG from the Vaca Muerta Shale play, YPF said, in a statement. “This is the first
Read More...Crude oil futures ended Monday’s trading session lower after unsettled trading, as Saudi comments indicated Opec+ would extend supply cuts supported prices, but concerns U.S. tariffs on China and Mexico would hurt demand weakened the market. Opec+, which includes most Opec members, along with a number of non-producers led by Russia, since Jan. 1, has
Read More...Brazilian multinational corporation Petrobras Monday launched the sale of two sets of onshore concessions, Kallanish Energy learns. The concessions are located in the northeastern state of Bahia, where Petrobras is operator and fully owns all but two concessions. The deadline for applications is Jun. 24. The Recôncavo Cluster is comprised of 14 onshore fields, which last year
Read More...Based on the combined value of energy exports and imports, Canada is the largest energy trading partner with the United States, according to the U.S. Energy Information Administration. Canada is the second-largest importer of energy from the United States, in terms of trade value, behind only Mexico. Energy exports accounted for about 8% of the
Read More...Billionaire activist investor Carl Icahn last week filed a lawsuit against Occidental Petroleum, looking for board seats and eventually a sale of the company, Kallanish Energy learns. Icahn said in the lawsuit filed in Delaware Chancery Court he’s built a $1.6 billion stake in Houston-based Occidental, and is upset by its decision to acquire Anadarko
Read More...Canadian Natural Resources last week evacuated its Pelican Lake and Woodenhouse operations in northern Alberta, the first major shut-in of oil production triggered by wildfires in 2019, Kallanish Energy reports. The producer removed all 240 people working at the two sites, stopping a combined 65,000 barrels per day of heavy crude production, according to a statement
Read More...The volume of working gas injected into underground storage in the most recent Energy Information Administration survey topped 100 billion cubic feet for the third consecutive week. At May 24, 1.87 trillion cubic feet (Tcf) of working gas was stored, up 114 Bcf from the week-earlier total of 1.75 Tcf, Kallanish Energy calculates. The latest
Read More...The Ohio Department of Natural Resources approved 17 permits for wells in Ohio’s Utica Shale during the week ended May 25, according to The Youngstown Business Journal. The permit breakdown is as follows: Ascent Resources Utica LLC received eight permits for six wells in Jefferson County and two in Belmont County, Rice Drilling LLC received
Read More...Crude oil prices plunged Thursday on a smaller-than-expected decline in U.S. crude inventories and fears of a global economic slowdown due to the U.S.-China trade war, Kallanish Energy understands. The U.S. Energy Information Administration reported crude stockpiles fell nearly 300,000 barrels last week, less than the 900,000 Bbl decline analysts forecast in a Reuters poll, and
Read More...California regulators Thursday approved PG&E Corp.’s plan to impose blackouts this summer across large swaths of its territory to prevent major wildfires — and told customers don’t count on reliable electric service as the fire season gets underway. The California Public Utilities Commission approved PG&E’s “wildfire mitigation plan,” in which blackouts could conceivably hit every
Read More...Columbus Business First compiled a list of Ohio’s top 10 shale oil and gas producers in 2018. The list is as follows: Ascent Resources Utica LLC Gulfport Energy Corp. Rice Drilling D LLC Chesapeake Exploration LLC Antero Resources Corp. Eclipse Resources I LP CNX Gas Company LLC Equinor USA Onshore Properties XTO Energy Inc. Gulfport
Read More...U.S. oil and gas independent Devon Energy said this morning it’s selling its Canadian assets to Canadian Natural Resources Ltd. for C$3.8 billion ($2.81 billion) in cash, Kallanish Energy reports. Devon is one of several oil producers to invest in the Anadarko Bain’s Scoop and Stack plays in Oklahoma, which is seen by some industry players
Read More...Liquefied natural gas export terminal Cameron LNG is preparing to load its first export shipment of LNG following the arrival of the first LNG tanker at its Louisiana facility, the Houston Chronicle newspaper reported. The Singapore-flagged LNG tanker Marvel Crane arrived in the Calcasieu Ship Channel early Tuesday morning where it later docked at the export
Read More...U.S. crude oil futures gained nearly 1% Tuesday after flooding throughout the Midwest constricted crude flow from the storage hub in Cushing, Oklahoma, Kallanish Energy learns. U.S. West Texas Intermediate futures settled at $59.14 a barrel, up 51 cents, or 0.9%, from its close on Friday before the long Memorial Day holiday weekend. Flooded areas
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