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.
Read More...Venezuelan President Nicolas Maduro is moving cash from Venezuelan oil sales through Russian state energy giant Rosneft, as he looks to evade U.S. sanctions designed to oust him from power, according to sources and documents reviewed by Reuters. The sales are the latest sign of Venezuela’s growing dependence on Russia, as the U.S. tightens sanctions on Maduro,
Read More...Liquefied natural gas exporter Tellurian said Thursday the Federal Energy Regulatory Commission has issued the order granting authorization for Driftwood LNG, a proposed 27.6 million tonnes per annum (Mtpa) liquefaction export facility near Lake Charles, Louisiana. Also authorized was the associated Driftwood pipeline, a 96-mile proposed line delivering natural gas to the facility, Kallanish Energy
Read More...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 how to interpret the information provided on your royalty stubs? Are you questioning how to manage your resources and invest wisely? Penn State Extension’s ‘Shale Royalties
Read More...The Interstate Natural Gas Association of America (INGAA) estimates approximately 41,000 miles of pipeline and an additional 139,000 miles of gathering lines will be added now through 2035 to transport oil, gas and natural gas liquids. The use of horizontal directional drilling (HDD) provides a large role in minimizing surface disturbance and environmental impacts in
Read More...The Ohio Department of Natural Resources issued five permits to drill in Ohio’s Utica Shale to Ascent Resources Utica LLC and three permits to Eclipse Resources during the week ended April 6, according to The Youngstown Business Journal. Ascent secured permits for horizontal wells in Belmont County. Eclipse received permits to drill new wells in
Read More...Oil and gas companies have drilled more than 2,500 horizontal shale wells in Ohio, and according to Richard Simmers, chief of the state’s Division of Oil and Gas Resources, things are going to stay pretty consistent — at least for the next couple of years. Last year, oil and gas companies drilled 358 new horizontal
Read More...Energy stocks were on the rise, after California-based Chevron announced that it was acquiring Anadarko Petroleum Corp. for $33 billion or $65 per share, Kallanish Energy reports. The deal will create a 75-mile-wide corridor across the most attractive acreage in the Delaware Basin in West Texas and New Mexico, extending Chevron’s leading position as a
Read More...Crude oil markets are tightening, the International Energy Agency said Thursday, Kallanish Energy reports. The agency warned, however, an “extraordinarily” wide range of views about the health of the global economy was making it difficult to forecast oil prices. It comes at a time when the energy industry is concerned surging U.S. crude inventories and an economic
Read More...Waste and energy development company Brightmark Energy Thursday announced the closing of a $260 million financing package for construction of the nation’s first commercial-scale plastics-to-fuel plant, to be built in Ashley, Indiana. Financing for the project includes $185 million in Indiana green bonds, which were underwritten by Goldman Sachs, Kallanish Energy reports. As part of the
Read More...Pipeline construction within the Appalachian Basin has spurred economic activity in recent years, according to a study by Energy In Depth. Pipeline construction projects have created $32.6 billion of investments and more than 124,000 jobs as companies build more than 3,500 miles of pipelines in parts of Ohio, Pennsylvania and West Virginia, according to the
Read More...President Trump today will sign an executive order designed to prevent states from blocking pipelines and other energy infrastructure by using authority they feel is afforded them under the federal Clean Water Act, Kallanish Energy reports. Under Section 401 of the Clean Water Act, companies must obtain certifications from a state before they can build federally-approved
Read More...Crude oil prices fell Tuesday from five-month highs as Russian comments signaled the possible easing of the Opec+ supply-cutting deal overcame concern violence in Libya could tighten global markets, Kallanish Energy reports. A U.S. threat to place tariffs on hundreds of European goods and a downgrade by the International Monetary Fund in its global economic
Read More...Orders for Saudi Aramco’s debut international bonds topped $100 billion, a strong vote of market confidence for the world’s largest oil company, Kallanish Energy reports. State-owned Aramco raised roughly $12 billion from the deal, which was to be priced late Tuesday and is seen as a gauge of potential investor interest in the Saudi company’s eventual initial
Read More...Merrion Oil & Gas, a New Mexico-based exploration and production business, recently announced plans for a flagship project with U.S. Steel near Pittsburgh, according to Kallanish Energy. Merrion plans on drilling unconventional natural gas wells at U.S. Steel’s Edgar Thomson Works south of Pittsburgh in the Marcellus Shale. The project includes up to six wells
Read More...