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...Crude oil prices rose to a five-month high Monday, on expectations for tighter global supply due to fighting in Libya, Opec+-led cuts and U.S. sanctions against Iran and Venezuela. International benchmark Brent futures were up 69 cents, or 1%, to $71.03 per barrel. U.S. West Texas Intermediate crude settled up 2.1%, at $64.40/Bbl, and hit its highest level since
Read More...Houston-based independent producer Callon Petroleum said Monday it’s entered into a deal to sell certain non-core assets in the Midland Basin to an unnamed buyer for $260 million in cash. The agreement also provides for potential incremental cash payments of up to $60 million based upon future commodity prices with upside participation starting at the $60/Bbl West Texas Intermediate level,
Read More...Pressure pumper horsepower will increase in Q2, rebounding from a sluggish end to 2018, according to the new U.S. Horsepower Outlook report, offered by Westwood’s Global Energy Group. A 9% increase in hydraulic horsepower (Hhp) demand from Q4’18-Q4’19 could lead to a tighter Hhp market and potential undersupply in certain regions, Kallanish Energy learns. Westwood’s quarterly
Read More...Pin Oak Energy Partners LLC recently closed a deal with SWEPI LP, a Royal Dutch Shell affiliate, to acquire Utica Shale acreage in Northwest Pennsylvania, according to Kallanish Energy. In the deal, Pin Oak received 43,000 acres in Mercer, Crawford and Venango counties, which includes drilled and completed but not producing horizontal Utica shale wells
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