The Ohio Department of Natural Resources granted six new drilling permits for horizontal wells in Ohio’s Utica shale during the week ended March 16, according to The Youngstown Business Journal. Chesapeake Exploration LLC received three of the permits, while the other three were issued to Ascent Resources LLC. Both companies plan to drill wells in
Read More...Kimbell Royalty Partners said Monday it’s closed the previously announced purchase of oil and gas royalty assets from EnCap Investments for roughly $171.6 million in Kimbell Royalty Operating stock. The acquisition includes oil and natural gas mineral and royalty interests previously controlled by EnCap through Phillips Energy Partners, Phillips Energy Partners II and Phillips Energy Partners
Read More...Venezuela’s main oil port of Jose, operated by state-run oil giant Pdvsa, was virtually shut down following a massive power blackout Monday, two oil industry workers and a union leader close to the facility told Reuters. The most recent oil shipment for export, on very large crude carrier Dragon, chartered by Russia’s Rosneft, left the
Read More...Crude oil rose sharply Tuesday as Opec+ supply cuts and expectations of lower U.S. inventories outweighed concern about weaker demand due to a potential worldwide economic slowdown. Brent crude was up 70 cents at $67.89 a barrel, not far from its 2019 high of $68.69/Bbl hit on March 21, Kallanish Energy reports. U.S. West Texas
Read More...The Federal Energy Regulatory Commission plans to review two pipeline expansions in Pennsylvania, according to Seeking Alpha. Transco’s Leidy South project and National Fuel Gas’ FM100 project will undergo environmental assessments. An environmental assessment rather than a full environmental impact statement can mean a shorter review to arrive at a decision. The Leidy South project
Read More...A week ago, the Third U.S. Circuit Court of Appeals granted New Jersey a stay, which stopped construction of the PennEast natural gas pipeline, to give the state time to resolve issues with the company regarding property both parties have interest in, according to The Morning Call. The court issued the order in an appeal
Read More...The Canada Pension Plan Investment Board is forming a $3.8 billion joint venture with U.S. energy firm Williams Cos Inc, according to NASDAQ. The new entity will hold pipeline assets in the Marcellus and Utica shale plays. CPPIB, Canada’s largest pension fund, will invest about $1.34 billion for a 35 percent stake in the venture,
Read More...Hilcorp Energy Co.recently applied for three permits related to horizontal well development in Columbiana County, according to the Ohio Department of Natural Resources. Hilcorp has submitted applications for a pair of new horizontal wells in Elk Run Township at the ElkRun-Auer well pad targeting the Utica/Point Pleasant shale formation. The first of the three permits
Read More...Midstreamer Tallgrass Energy this week announced the promotion of chief operating officer Bill Moler to president, effective immediately. The Kansas-based company said David G. Dehaemers Jr. remains CEO and Moler will retain his current COO title, Kallanish Energy reports. “I’m delighted to announce Bill’s ascent to President, a move that recognizes his increasingly vital role
Read More...The Trump administration is granting Iraq a renewed 90-day waiver, exempting it from U.S. sanctions on Iran, a State Department official told CNBC Tuesday. The waiver, last issued in December and expired Tuesday, will allow Iraq to continue buying electricity from its neighbor, Kallanish Energy reports. “While this waiver is intended to help Iraq mitigate
Read More...Crude oil prices were little changed Tuesday after hitting 2019 highs earlier in the day, maintaining strength on expectations Opec+ will continue its production cuts. U.S. oil prices have risen 9% in the last six weeks, as the Opec+ supply cuts are now expected to continue through the rest of 2019. Opec+ representatives this week
Read More...Last week, Stark County Common Pleas Judge Kristin G. Farmer dismissed the state’s lawsuit against Rover Pipeline over alleged water pollution, determining the Ohio Environmental Protection Agency waived its right to regulate pipeline construction under the Clean Water Act, according to the Canton Repository. The Ohio EPA had a year to act on the Rover’s
Read More...Russian energy minister Alexander Novak said Sunday his country will be fully compliant with Opec+ supply cuts over the coming weeks. “As far as the meeting is concerned we, of course, discussed the situation with the execution of the agreement (and) we stressed once again that Russia is discharging its obligations in accordance with the agreement
Read More...Crude oil prices rose Monday, supported by the possibility of a longer-than-expected Opec+ crude supply cut and indications of inventory declines at Cushing, Oklahoma. Representatives of Opec+, the amalgamation of most Opec members along with a number of non-Opec producer-countries led by Russia, met in Azerbaijan to monitor their crude supply reduction deal. They said
Read More...Britain’s liquefied natural gas (LNG) imports for March are at their highest levels in roughly 29 months, helping British wholesale gas prices slide to a more-than 18-month low. Britain is set to receive 14 cargoes in March, with six tankers scheduled for this week alone, Reuters reported. The country is on track to import 1.18
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