Rangeland Energy III’s Rangeland Midstream Canada unit Tuesday announced plans to design, construct and operate new crude oil and condensate pipelines in the Marten Hills region of north central Alberta, Kallanish Energy reports. The Marten Hills Pipeline System will extend roughly 52.8 miles and include crude oil and condensate pipelines and related facilities. The system
Read More...A battle between Chevron and Occidental Petroleum, which now includes billionaire investor extraordinaire Warren Buffett, to take control of U.S. independent producer Anadarko Petroleum, is fueling speculation about more deals to come. But oil supermajor BP Plc CEO Bob Dudley Tuesday said his employer will not get involved. BP acquired BHP Billiton’s U.S. shale assets for
Read More...United Conservative Party leader Jason Kenney was sworn in Tuesday as the 18th premier of Canada’s largest crude-producing province, Alberta, and named a cabinet he says will go to bat for the energy sector, Kallanish Energy reports. Kenney, a former conservative federal cabinet minister, won the election in a landslide victory against Rachel Notley’s New
Read More...Experts believe an increased availability of ethane storage facilities in eastern Ohio, southwestern Pennsylvania and northern West Virginia will attract petrochemical plants that turn ethane into raw plastic, according to the Associated Press. Incidentally, plans are underway to create two underground facilities to store ethane in the Appalachian Basin. Energy Storage Ventures is awaiting approval
Read More...The United States set a new record and exported 112,000 barrels per day (b/d) of fuel ethanol in 2018, according to the Energy Information Administration. For the ninth consecutive year, the U.S. exported more fuel ethanol than imported. While exports surpassed the previous record of 91,000 b/d set in 2017, imports of fuel ethanol decreased
Read More...A sinkhole with a 12-foot diameter was discovered along the route of the Mariner East 2 pipeline along Baltimore Pike near the state police barracks in Delaware County, Pa., on Wednesday, according to the Daily Times. Although no leaks, damage or injuries were reported in relation to the sinkhole, the township launched an investigation to look
Read More...After a three-month shutdown Energy Transfer Partners LP was finally about to announce the Mariner East 1 resumed service Tuesday, according to WFMZ News. The Mariner East 1 was shutdown by state regulators in January a sinkhole in January that exposed a portion of the pipeline. Following its investigation, the Pennsylvania Public Utility Commission said
Read More...Energy infrastructure company Sempra Energy has completed the sale of its U.S. renewables business and non-utility natural gas storage assets for roughly $2.5 billion in cash, Kallanish Energy reports. The announcement comes with Monday’s completion of the sale of its remaining ownership interests in operating and development-stage wind assets to American Electric Power for $584 million in cash.
Read More...Murphy Oil Corp. announced its Murphy Exploration & Production Company – USA unit is acquiring deepwater Gulf of Mexico assets from LLOG Exploration Offshore and LLOG Bluewater Holdings for $1.38 billion in cash, Kallanish Energy reports. Additional contingent consideration payments are based on the following: up to $200 million in the event revenue from certain
Read More...Goldman Sachs expects the U.S.’s decision to end exemptions from sanctions for eight countries still buying oil from Iran to have a limited impact on crude prices — even though the timing is likely to have caught energy market participants by surprise. “While we acknowledge the near-term upside price risks, we reiterate our fundamentally derived
Read More...During the week ended April 13, Ascent Resources Utica LLC received 13 horizontal well permits from the Ohio Department of Natural Resources to drill in Ohio’s Utica Shale, according to The Youngstown Business Journal. Ascent secured the permits for well sites in Belmont, Harrison and Jefferson counties in the southern portion of the Utica Shale
Read More...Ohio’s continuously-growing shale energy industry has attracted $74 billion in investments since 2011, according to a study done by Cleveland State University. The study was prepared for JobsOhio and represents the most recent data available, including investments made through the first half of 2018. It showed drilling activity slowed but remained significant in Ohio from
Read More...Welcome to this week’s edition of The Buzz, a weekly feature where Kallanish Energy editors select the quartet of stories this past week we feel were the most important – have the chance to make the biggest impact on the oil and gas industry — and energy as a whole. This week’s selections include: Venezuela bypasses U.S. sanctions
Read More...Penn State Extension will host a workshop to help landowners understand the various factors that affect their royalty payments on June 11 in Elk County, Pennsylvania. Are you as a landowner receiving royalty checks and not fully understanding how the current trends and production figures mesh with your royalty payments? Do you have questions on
Read More...Crude oil prices were slightly higher Thursday, as a drop in crude exports from Saudi Arabia and a drawdown in U.S. oil inventories supported prices, Kallanish Energy reports. U.S. West Texas Intermediate crude futures settled 24 cents higher at $64 per barrel. Brent crude futures rose 35 cents, or 0.5%, to $71.97/Bbl, near Wednesday’s five-month high of $72.27/Bbl.
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