Joint venture partners WhiteWater Midstream, MPLX LP, along with lead investor in the Agua Blanca pipeline system First Infrastructure Capital, this morning announced a positive final investment decision to expand the Delaware Basin Agua Blanca system. The expansion includes a 42-inch trunkline that more than doubles system capacity to over 3 billion cubic feet per day
Read More...Crude oil prices rose more than 1% Tuesday on hopes for a U.S.-China trade agreement and optimism Washington could roll back some of the tariffs it has imposed on Chinese imports, Kallanish Energy learns. Brent crude futures gained 84 cents, or 1.4%, to settle at $62.94 a barrel, while West Texas Intermediate crude futures gained
Read More...Onshore drilling service provider Independence Contract Drilling (ICD) said Tuesday it received written notification from the New York Stock Exchange that as of Nov. 1, the company is no longer in compliance with NYSE continued-listing criteria, Kallanish Energy reports. Said criteria requires listed companies to maintain an average closing share price of at least $1.00 over 30 consecutive
Read More...Shale Support Global Holdings, a provider of frac-sand and logistics services to the oil and gas industry, has signed an extension to continue working with Shale Rail as the exclusive supply company for a Bradford County, Pennsylvania, frac sand storage facility. In an effort to better serve the Marcellus Shale play, Shale Rail released plans to
Read More...Oil and gas industry veteran Steven Keenan, who is credited with the Alpine High shale discovery for Apache Corp, resigned from his position as senior vice president of Worldwide Exploration, the company said. Houston-based Apache told Reuters Keenan’s resignation is not connected to the well the company is currently drilling offshore in Suriname. The company said,
Read More...Millions of Californians were without power Sunday as Pacific Gas and Electric Co. implemented its largest-ever blackout to prevent wildfires during high and hot winds, Kallanish Energy reports. The outages extend from parts of California’s Humboldt County to the Salinas Valley and were expected to reach a portion of the state’s Kern County by Sunday
Read More...President Trump said Sunday he’s interested in making a deal with ExxonMobil or another producer to tap Syrian oil reserves, Kallanish Energy reports. “What I intend to do, perhaps, is make a deal with an ExxonMobil or one of our great companies to go in there and do it properly … and spread out the wealth,” he
Read More...Saudi Aramco has delayed the planned launch of its initial public offering in hopes pending third-quarter results will raise investor confidence in the world’s largest oil firm, two sources familiar with the matter told Reuters. Aramco had been expected to announce plans this week to float a 1% to 2% stake on the kingdom’s Tadawul
Read More...The Carlyle Group, an international private equity/investment firm and the entity behind efforts to build a $1 billion crude oil export terminal at Harbor Island, Port of Corpus Christi, Texas, is pulling out of the project. The Washington, D.C.-based company said in a statement it’s dissolved its relationship with The Berry Group, Kallanish Energy finds. The
Read More...President Trump last Friday announced he has nominated deputy energy secretary Dan Brouillette to replace departing energy chief Rick Perry, Kallanish Energy reports. “I am pleased to nominate Deputy Secretary Dan Brouillette to be the new Secretary of Energy. Dan’s experience in the sector is unparalleled. A total professional, I have no doubt that Dan
Read More...Crude oil prices were lower Friday, as concerns about China’s economy outweighed strong signals from its refining sector, Kallanish Energy learns. But losses were limited on hopes for progress toward a U.S.-China trade agreement. Brent crude oil futures fell 49 cents, to settle at $59.42 a barrel, while U.S. West Texas Intermediate crude futures lost
Read More...The world’s largest oilfield services company surpassed Wall Street expectations on third-quarter revenue, but took a huge hit on the bottom line due to pretax charges, Kallanish Energy reports. Schlumberger reported an $11.4 billion loss on $8.54 billion of revenue during the quarter, a loss per share of $8.22 for common stockholders. One year ago,
Read More...The share of U.S. total utility-scale power generation from natural gas-fired power plants will rise from 34% in 2018, to 37% in 2019 and 2020, the Energy Information Administration forecasts in its October Short-Term Energy Outlook (STEO). EIA/STEO forecasts the share of U.S. electric generation from coal will average 25% in 2019, and 22% in 2020, down from
Read More...The Henry Hub natural gas spot price averaged $2.56 per million British thermal units (MMBtu) in September, up 34 cents/MMBtu from August, the first monthly price increase since March, the Energy Information Administration reports in the just-released Short-Term Energy Outlook (STEO). EIA/STEO forecasts Henry Hub prices to average $2.43/MMBtu in the fourth quarter of 2019,
Read More...Enterprise Products Partners has announced it has long-term agreements that support additional expansion of the Midland to Echo crude oil pipeline system. The midstreaming giant will build a pipeline that connects the partnership’s 6-million-barrel (Mmbbl) Midland, Texas, storage facility to its Echo Terminal through its Eagle Ford system in South Texas. This line will have
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