A bipartisan group of Texas legislators has asked the Biden administration to intervene on behalf of U.S. energy companies operating in Mexico amid the latter country’s increasingly nationalistic energy policies. Sens. John Cornyn and Ted Cruz, along with 18 of the state’s 32 U.S. representatives, signed a letter Tuesday (Oct. 19) to U.S. Ambassador to…
Energy
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Times are Tough, but Mexico’s Energy Sector Still Awash in Opportunities, Experts Say
Mexico’s energy sector has faced a difficult past three years which have seriously dented investor appetite, but the country still offers opportunities and the future could be bright, industry insiders said Tuesday at the Mexico Gas Summit hosted by Industry Exchange LLC in San Antonio, TX. The Woodrow Wilson International Center’s Duncan Wood said that…
Mexico Giving “Stay Away” Signal to Investors, Atlantic Council Energy Group Chairman Says (Part 1)
“By pausing the renewable energy auctions and pausing the oil auctions, the president has basically given a ‘stay away’ signal to foreign investment in the energy sector,” David Goldwyn, Chairman of the Atlantic Council Global Energy Center’s Energy Advisory Board, told NGI’s Mexico Gas Price Index. Recent policy decisions have “really put into question Mexico’s…
Current Mexico Energy Policy Harmful to Private Investment, Former CRE Commissioner Says
“We are effectively seeing this administration block the participation of private industry in the energy sector across all segments,” Montserrat Ramiro, former Commissioner at Mexico’s Comisión Reguladora de Energia (CRE), told NGI’s Mexico Gas Price Index. “Apparently they think the optimal outcome is total control of the market by state-owned companies. Moreover, they think markets…
Trump and Biden Clash Over Climate Change, Energy in Chaotic First Debate
More than an hour into a bitter, 90-minute debate that often devolved into inexplicable interruptions and trivial jabs more notable for political animus than policy substance, President Trump and former Vice President Joseph R. Biden Jr. sparred over climate change and energy. During the first of three scheduled debates Tuesday night at Case Western Reserve…
Forest Service Seeking to Streamline Oil, Natural Gas Project Approvals Through Rule Change
The U.S. Forest Service (USFS) is proposing to streamline the approval process for oil and natural gas development in national forests and grasslands. The proposed rule, issued on Tuesday, is posted in the Federal Register and available for public comment until Nov. 2. The overhaul, part of a larger mandate by the Trump administration to…
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…
NGI The Weekly Gas Market Report
ExxonMobil Joins E&Ps, OFS in Rethinking Strategies as Coronavirus Upends Everything
The coronavirus pandemic has wreaked havoc on life in general, and for the energy industry, the next few months may prove to be make or break, as capital spending plans are cut and employees move to home offices.
4Q2019 Earnings: PDC to Cut More Costs, Reduce DJ Basin, Permian Activity in 2020
PDC Energy Inc.’s oil and gas sales declined last year as commodity prices fell, offsetting a 23% increase in year/year production and a 22% annual decline in total costs.
WPX Closes Felix Acquisition, Adding 60,000 boe/d of Permian Output
WPX Energy, Inc. has closed its $2.5 billion acquisition of fellow Permian independent Felix Energy LLC, WPX said Friday.