Two-year trend of rising proved oil and natural gas reserves halts

Amid a decrease in oil and gas prices, a two-year trend of rising proved reserves of oil and natural gas in the United States has come to a halt, according to the Energy Information Administration. Natural gas proved reserves declined 1.9% year over year in 2019, falling to 494.9 Tcf from 504.5 Tcf. The change

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U.S. Oil and Natural Gas Showed Resilience in 2020

As we look back on 2020, there’s no denying it was a challenging year for everyone, including the U.S. oil and natural gas industry. Production decreased for the first time in years as a result of the pandemic and its impacts on global markets. But despite these unique and unexpected challenges, the industry continued to

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‘Completely Unacceptable’: COGCC Overruled Voters, Now Insults Colorado’s Oil & Natural Gas Workers

You can see a pattern developing at the Colorado Oil & Gas Conservation Commission and it shows a clear bias against the energy industry in the state. In September, the commission ignored the will of the voters by unilaterally extending setback distances. Now, staffers there have been caught insulting the energy companies it regulates, according to

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Colorado Emissions Roadmap Acknowledges Crucial Role Of Oil & Natural Gas

Last week’s Air Quality Control Commission hearing revealed deep ideological divisions among its members, but also an acknowledgement that oil and natural gas should play a crucial role in Colorado’s economy. After the Colorado State Assembly passed HB 1261 in 2019 that mandated reducing statewide GHG pollution 26 percent by 2025, 50 percent by 2030,

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EIA: US oil output to drop to 7.69 million bpd in shale fields next month

Experts are anticipating the biggest U.S. shale oil production drop since May, according to the U.S. Energy Information Administration’s most recent monthly forecast. Output is expected to decline by 123,000 barrels per day (bpd) in November to about 7.69 million bpd. Furthermore, overall output is expected to drop for the third straight month and is

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ICYMI: Fracking Has Taken Center Stage This Election Cycle

The future of U.S. energy is an important topic this election cycle – and always – as candidates debate on the best path forward to enhance energy security, reliability, affordability and reduce energy-related emissions. This has especially been evident in the recent debates and the sheer number of times the candidates have talked about fracking

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Reviewers, Findings Undercut New Oil & Natural Gas Radon Study’s Claims

Radon is the second leading cause of lung cancer in the United States and is found in high concentrations in homes, schools and businesses across the country. Despite its long prevalence in regions such as Appalachia, researchers continue to attempt to link the gas, and its known health impacts, to more recent unconventional oil and

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DOE Report Shows the Benefits of a Robust American Energy Industry, Shows Opportunities for the Future

The COVID-19 pandemic and accompanying shutdowns threw the American economy—and the energy industry—a curve ball this year, but domestic production will be a key part of the economy recovery. A new released by the Department of Energy (DOE) shows the benefits of increased domestic energy production and the opportunities to continue production in the future,

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Energy transition poses credit risks to NOCs: Moody’s

National oil companies (NOC) are less prepared for the energy transition than their counterparts in the private sector, which increases their credit risks, Moody’s said Monday. According to a new report by Moody’s Investors Services, the energy transition poses varying degrees of credit risk to the world’s largest NOCs. Those in oil importing countries, where

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Total posts $8B loss in Q2, maintains dividends

French energy major Total posted on Thursday losses of over $8.37 billion during second-quarter driven by impairments, lower hydrocarbon prices and production levels, Kallanish Energy reports. The net loss compares to a net profit of $2.76 billion during the same period last year, as “exceptional circumstances” led to asset impairments totalling $8.1 billion. The majority

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Apache posts net loss for Q2, announces new discovery off Suriname

U.S. independent E&P firm Apache Corp. reported on Thursday net losses of $397 million in the second quarter of 2020, alongside a new oil discovery on Block 58 offshore Suriname. The net loss attributable to shareholders was driven by significantly lower revenues from oil production during second quarter compared to the previous year, which fell

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Latest Orphan Well Report Overestimates Number of Wells and Cost of Plugging

Orphaned wells have been making headlines recently as a potential source of methane emissions. The oil and natural gas industry and regulatory agencies have collaborated on identifying the number of these wells and finding solutions to the unique challenges they present, particularly since most of them were drilled in the 1800s and early 1900s. Most

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Chevron, Shell lead industry’s resilience at $30/Bbl Brent: WoodMac

Chevron and Shell’s upstream portfolios are the most resilient at oil price at $30 a barrel and offer the highest cash margins at $70/Bbl, according to analysts at Wood Mackenzie. Tom Ellacott and the Corporate Analysis team at the consulting firm have studied the resilience of the seven oil and gas majors: BP, Shell, Chevron,

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Colorado Democratic Senate Candidates Discuss Transition Away From Oil And Natural Gas

The Democratic Senate primary in Colorado heated up this week with two debates between former Gov. John Hickenlooper and former State House Speaker Andrew Romanoff. Unfortunately, each candidate was only asked one question apiece both nights on energy. Hickenlooper, who supported the industry while governor, discussed a “fast” transition away from “carbon-based energy” like oil

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