Christian elected chairman of Texas RRC
Tue, 18 Jun 2019 19:25:00 GMT

Commissioner Wayne Christian was unanimously elected chairman of the Texas Railroad Commission.

Anadarko sanctions Mozambique LNG project
Tue, 18 Jun 2019 17:42:00 GMT

Anadarko Petroleum has formally sanctioned its Mozambican LNG project, Mozambique LNG. Anadarko is developing Mozambique’s first onshore LNG facility, initially consisting of two LNG trains with a total nameplate capacity of 12.88 million tonnes/year. Feed gas comes from Golfinho-Atum field in Offshore Area 1 where Anadarko and its partners have discovered 75 tcf of recoverable natural gas resources.

Leaseholders told to recalculate royalties under 2016 rule
Tue, 18 Jun 2019 17:31:00 GMT

A federal court’s March decision that vacated the US Office of Natural Resources Revenue’s repeal of its consolidated federal oil and gas and federal and Indian oil and gas effectively reinstated the 2016 requirements, ONRR advised federal leaseholders. Accordingly, the leaseholders should recalculate royalties under the 2016 rule for production since Jan. 1, 2017, it said in a June 13 notice.

PTTEP agrees to acquire Partex Holdings
Tue, 18 Jun 2019 17:02:00 GMT

PTT Exploration & Production Co. has signed an agreement to acquire 100% of Partex Holding from the Calouste Gulbenkian Foundation of Portugal for as much as $622 million. The deal, expected to close by yearend, will boost the Thai company’s net-interest production by 16,000 b/d of oil and reserves by 65 million boe of oil and gas.

ConocoPhillips to acquire Nuna discovery acreage
Tue, 18 Jun 2019 16:55:00 GMT

ConocoPhillips Alaska reported it will acquire 11 tracts covering 21,000 acres in the western Alaska North Slope, which includes the 2012 Nuna oil discovery, from Caelus Natural Resources Alaska. Nuna lies east of the Colville River and 5 miles southwest of Oooguruk oil field where, in January, Caelus agreed to sell a 70% interest to Eni.

Roberts named Stakeholder Midstream COO
Tue, 18 Jun 2019 15:49:00 GMT

Josh J. Roberts has been promoted to chief operating officer of Stakeholder Midstream. Roberts is responsible for the management and oversight of Stakeholder’s engineering and operations functions. Since joining Stakeholder in 2015, Roberts has been responsible for the design and construction of the San Andres Crude Gathering System and the Campo Viejo Gas Gathering System.

Lime Rock to buy certain Oklahoma assets from BP
Tue, 18 Jun 2019 15:44:00 GMT

Lime Rock Resources has agreed to acquire from BP America Production certain oil and natural gas properties in Cleveland and McClain counties, Okla. The properties lie 50 miles east of Lime Rock’s existing Norge unit operations that it acquired in 2014.

MARKET: Brent crude falls more than $1/bbl
Tue, 18 Jun 2019 14:36:00 GMT

Brent oil prices fell on the London market by more than $1/bbl for August and September delivery while light, sweet crude oil in New York for July delivery settled under $52/bbl on concerns of the possibility of oil shipment disruptions through the Middle East. The price drops came amid talk of a possible military confrontation in the Persian Gulf and disruptions to tankers moving through the Strait of Hormuz.

ONGC moves 35 rigs ahead of monsoon season
Mon, 17 Jun 2019 18:12:00 GMT

India’s Oil & Natural Gas Corp. Ltd. reported moving a record-high 35 offshore drilling rigs to new locations ahead of the Indian monsoon season. Aqualis Offshore said it assisted with many of the moves.

DRBC approves dock, adds products to Gibbstown project
Mon, 17 Jun 2019 16:55:00 GMT

The Delaware River Basin Commission (DRBC) unanimously approved construction of a second dock and associated storage that would add LNG and other energy products to the proposed Gibbstown Logistics Center in southern New Jersey. The commission’s June 12 action followed a June 6 public hearing and a 15-day comment period.

MARKET: Brent for August tops $62/bbl
Mon, 17 Jun 2019 14:59:00 GMT

Brent oil prices rose moderately on the London market June 14 with the August contract closing slightly above $62/bbl while light, sweet crude prices in New York held fairly flat, again settling above $52/bbl.

Baker Hughes: US rig count down 6 units to 969
Fri, 14 Jun 2019 18:09:00 GMT

The US drilling rig count fell 6 units, reaching 969 rigs working for the week ended June 14, according to Baker Hughes data. The count is down 90 units from the 1,059 rigs working this time a year ago.

WoodMac: Argentina LNG poised to meet Asian demand
Fri, 14 Jun 2019 17:00:00 GMT

Rising natural gas production in Argentina coupled with competitive global LNG transportation costs are expected to position the country as an emerging source of gas supply to Asia during peak demand periods, recent research from Wood Mackenzie shows.

IEA consecutively cuts oil demand growth forecast
Fri, 14 Jun 2019 16:45:00 GMT

In its latest monthly Oil Market Report, the International Energy Agency cut its forecast for global demand growth in 2019 for a second consecutive month. It is now projected at 1.2 million b/d, reduced from 1.3 million b/d in the previous report and 1.4 million b/d in the April report.

Husky fined for 2016 Saskatchewan oil spill
Fri, 14 Jun 2019 16:23:00 GMT

Husky Oil Operations entered guilty pleas June 12 on federal and provincial charges related to a 2016 oil spill in Saskatchewan and will pay fines totaling $3.82 million. Husky was fined $2.5 million under the federal Fisheries Act and $200,000 for a violation of the federal Migratory Birds Convention Act. It was fined $800,000 under the Saskatchewan Environmental Management and Protection Act and assessed a 40% victim impact surcharge of $320,000.

MARKET: Oil prices rise on tanker attacks
Fri, 14 Jun 2019 15:42:00 GMT

Oil futures rallied on the New York and London markets June 13 following attacks on two oil tankers near the Strait of Hormuz although crude settlements failed to completely recover from the previous trading session losses of more than $2/bbl.

CSB: Operational lapses led to well blowout, fire
Thu, 13 Jun 2019 17:48:00 GMT

Poor barrier management combined with underbalanced operations performed without proper planning, procedures, or needed equipment to make an Oklahoma natural gas well blow out and catch fire on Jan. 22, 2018, killing five workers in the driller’s cabin on the rig floor, a US Chemical Safety Board investigation concluded.

EPA chief extends emergency fuel waivers in Pennsylvania
Thu, 13 Jun 2019 16:35:00 GMT

US Environmental Protection Agency Administrator Andrew R. Wheeler extended temporary emergency fuel waivers on June 12 for Allegheny County, Pa. The waivers were due to expire on June 17.

Callon closes sale of noncore Midland assets
Thu, 13 Jun 2019 16:21:00 GMT

Callon Petroleum Co., Natchez, Miss., has closed on the sale of noncore assets in the southern Midland basin to Sequitur Permian LLC for net cash proceeds of $245 million. Proceeds do not include potential contingent consideration payments of up to $60 million based on West Texas Intermediate average annual pricing over 3 years.

Canada nixes controversial-bill overhaul
Thu, 13 Jun 2019 15:47:00 GMT

Industry groups warned of further damage to Canadian oil and gas investment after federal Environment Minister Catherine McKenna rejected most amendments made in the Senate to a bill overhauling environmental review of energy projects.