Dramatic growth in American energy production has reshaped world energy markets over the past few years. U.S. shale oil – which was the world’s most expensive oil resource a mere four years ago – is now the second most affordable source of new oil supply globally, trailing only the giant onshore oil fields of the
Read More...Oilfield services firm Baker Hughes, a GE company, delivered what chairman and CEO Lorenzo Simonelli called a “solid” first quarter, due to stabilizing global oil and natural gas markets, Kallanish Energy reports. “The U.S. rig count dropped slightly less than expected, and international activity remained steady; the LNG market is very active,” Simonelli said. During
Read More...Increased natural gas consumption has generated a truly incredible story for the environment as U.S. greenhouse gas emissions have fallen to their lowest levels since 1992. But the air quality improvements go even further, as a new Energy In Depth analysis shows: The U.S. oil and gas industry is also making incredible progress in reducing
Read More...Thanks to America’s energy renaissance, the energy and utility sector has the highest median salary of any industry in the S&P 500, with the typical worker at one energy company earning almost $200,000 annually, according to the Wall Street Journal. An analysis of annual pay disclosures by the Journal found that Phillips 66, Anadarko Petroleum
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...Colorado’s top air quality regulator took issue with recent media portrayals of the state’s emissions regulations during the Air Quality Control Commission monthly meeting Thursday. During the “Director’s Report” portion of the meeting, Colorado Department of Public Health and Environment Air Pollution Control Division Head Garry Kaufman offered clarity around a recent Denver Post article
Read More...A literature review of studies that have unsuccessfully attempted to show fracking is negatively impacting health is getting some media attention based on its claim that air quality monitoring and modeling may not capture the full picture of oil and gas development impacts. And despite the authors’ best efforts to show otherwise, this compendium simply
Read More...The Colorado General Assembly passed its contentious overhaul of state oil and gas regulations today, sending it to Governor Jared Polis’ desk for final signature. SB-181 invokes several changes to existing law, including increased input from local communities, changes to forced pooling thresholds and an update to the mission and make-up of the Colorado Oil
Read More...... … … U.S. energy exports are growing in a big way and are already leading to U.S. energy dominance, a result thought impossible by many until the shale revolution. The International Energy Agency’s (IEA) five-year outlook expects that the United States will overtake Russia and potentially Saudi Arabia as an oil exporter by 2024. The U.S. shale
Read More...ExxonMobil has held talks on the sale of a number of oil and gas fields in Nigeria, as the company focuses on developments in the U.S.’s Permian Basin and Guyana, industry and banking sources told Reuters. The potential sales are expected to include stakes in onshore and offshore fields and could raise up to $3
Read More...Just two months after the New York Times reported that Texas and New Mexico’s Permian Basin could surpass Saudi Arabia’s Ghawar oilfield to become the highest producing oilfield in the world in the next three years, data released this week provided a new take: It already did. Now we know the Permian basin is now
Read More...This week, CNN ran a piece attempting to influence the confirmation hearing of acting Interior Secretary David Bernhardt. The report lobbed criticism at the Bureau of Land Management for approving oil and gas permits during January’s government shutdown – framing it as the oil and gas sector skirting the effects of the shutdown while the
Read More...The ample warnings about the potential consequences of SB 181 have done nothing to slow its push through the Colorado General Assembly. After passing through the House Appropriations Committee this morning, the bill is scheduled to be discussed on the floor this evening and a final vote is expected as soon as tomorrow. Ultimately, SB
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...A new wave of aggressive anti-oil and natural gas legislation is cropping up in several states, driven by national “Keep It In the Ground” (KIITG) groups that have failed numerous attempts at the federal level to restrict development. Emboldened by the introduction of the “Green New Deal”, KIITG groups have made it clear that nothing
Read More...