Crude Oil

Shell’s LNG, Oil Demand Plunges in Covid-19 Rout, with Energy Impacts Still Uncertain

Shell’s LNG, Oil Demand Plunges in Covid-19 Rout, with Energy Impacts Still Uncertain

Royal Dutch Shell plc swung to a massive loss in 2Q2020, torn down by a historic loss in natural gas and oil demand, with CEO Ben van Beurden warning the long-term energy outlook remains uncertain as long as the global pandemic wreaks economic havoc. The Anglo-Dutch supermajor said the 2Q2020 current cost of supplies (CCS),…

July 30, 2020
Don’t Mess with Texas Oil and Natural Gas, Trump Tells Permian Crowd

Don’t Mess with Texas Oil and Natural Gas, Trump Tells Permian Crowd

President Trump rallied West Texas oil and natural gas workers on Wednesday afternoon during a visit to Midland, in the heart of the Permian Basin, touting American energy dominance and claiming the industry is not only back on track but expanding. The campaign speech of sorts came during a brief visit after the president toured…

July 30, 2020
North American Midstreamers Enterprise, Enbridge Find Success Beyond Liquids in Strong Quarterly Results

North American Midstreamers Enterprise, Enbridge Find Success Beyond Liquids in Strong Quarterly Results

The diversified systems of two of North America’s largest midstream companies were positioned for a solid second quarter in which lower oil volumes were partially offset by strength in natural gas, natural gas liquids (NGL) and storage. Enterprise Products Partners LP (EPD) and Enbridge Inc. reported second quarter results on Wednesday, with each company highlighting…

July 30, 2020
Hess Sees Bakken Oil Production Climb 26% in 2Q

Hess Sees Bakken Oil Production Climb 26% in 2Q

Hess Corp. saw net production from its acreage in the Bakken Shale increase to 194,000 boe/d in the second quarter compared with 140,000 boe/d in the prior-year quarter, with net oil output up 26% to 108,000 b/d. The New York City-based independent attributed the performance to increased wells online and improved well performance. Total second…

July 30, 2020
Permian Gains Give Oomph to U.S. Drilling Permits in June, but Recovery to 2019 Levels Not in Sight

Permian Gains Give Oomph to U.S. Drilling Permits in June, but Recovery to 2019 Levels Not in Sight

Requests for U.S. drilling permits improved in June following a brutal April and May, with the Permian Basin still the top region for operators, according to Evercore ISI. The analyst firm each month compiles permitting statistics for the Lower 48 and offshore using federal and state data. Covid-19 and low commodity prices had crushed permit…

July 20, 2020
Louisiana Property Owners Awarded Larger Payout in Court Fight Against Bayou Bridge

Louisiana Property Owners Awarded Larger Payout in Court Fight Against Bayou Bridge

Louisiana landowners involved in a lawsuit over the Bayou Bridge Pipeline (BBP), the last segment of the controversial Dakota Access pipeline system (DAPL), were awarded a larger payout after an appeals court reversed a ruling. In his decision on Thursday, Judge Jonathan Perry of the U.S. Court of Appeals for the Third in Louisiana said…

July 20, 2020
Trading Behemoth Vitol Launching U.S. Upstream Company

Trading Behemoth Vitol Launching U.S. Upstream Company

Swiss commodities giant Vitol Inc. is seeking to expand its upstream business in the United States with a venture to be headquartered in Houston and led by industry veteran Don Dotson. Vencer Energy LLC is focused on acquiring mature producing oil and gas assets, with a specific focus on key basins in the Lower 48.…

July 20, 2020
Chevron’s $13B Deal for Noble to Add Lower 48 Heft, Natural Gas Promise in Offshore Eastern Med, Equatorial Guinea

Chevron’s $13B Deal for Noble to Add Lower 48 Heft, Natural Gas Promise in Offshore Eastern Med, Equatorial Guinea

Chevron Corp. has clinched a definitive agreement to acquire Houston super independent Noble Energy Inc. in an all-stock transaction worth $5 billion that carries a total enterprise value, including debt, of $13 billion. The transaction, which values Noble at $10.38/share, would trade 0.1191 Chevron shares for each Noble share. Noble’s massive natural gas operation offshore…

July 20, 2020
Bakken Producers Scramble to Prepare for Life Without DAPL

Bakken Producers Scramble to Prepare for Life Without DAPL

Producers in North Dakota’s Bakken Shale play are beginning to come to grips with operating without the Dakota Access Pipeline (DAPL) that is now under court order to shut down and be drained by early August. The immediate challenges are how to move up to 300,000 b/d to Gulf Coast refineries, and longer term up…

July 8, 2020
Court Vacates Permits, Orders Dakota Access to Temporarily Shut as Army Corps Prepares EIS

Court Vacates Permits, Orders Dakota Access to Temporarily Shut as Army Corps Prepares EIS

The U.S. District Court for the District of Columbia has ordered Energy Transfer LP to temporarily halt operations on the Dakota Access Pipeline (DAPL) within the next 30 days while an environmental impact statement (EIS) on the crude oil line is completed. The stoppage order was handed down on Monday when the court vacated the…

July 6, 2020
‹ Previous 1 2 3