Gulf Coast

With Louisiana and Texas communities and businesses facing substantial losses after Hurricane Laura, charitable efforts by the oil and gas industry and beyond are providing a helping hand.  Cheniere Energy Inc., the largest liquefied natural gas (LNG) exporter in the United States, pledged $1 million to local organizations that are supporting relief efforts. The donation…

Louisiana Gov. John Bel Edwards, who oversees some of the richest oil and natural gas resources in the Lower 48, on Wednesday set the Pelican State on a path toward net zero-carbon emissions by 2050, which the energy industry is backing. Two executive orders (EO) were issued to reduce greenhouse gas (GHG) emissions and enhance…

Natural gas production from the Permian Basin is expected to return to record levels by late 2021 and reach 16 Bcf/d by the end of 2023, although delayed pipeline approvals could limit takeaway capacity beginning in 2023, according to new analysis by Rystad Energy. The 16 Bcf/d figure, which assumes a $45-50/bbl West Texas Intermediate…

The double whammy of Covid-19 and an oil market downturn resulted in stinging declines on the Kinder Morgan Inc. (KMI) pipeline network, but the midstream giant reported a fair share of green shoots during a second quarter earnings call. Houston-based KMI on Wednesday reported higher natural gas transport volumes year/year and said nearly all of…

The uncertainty looming over energy markets amid Covid-19 has not stopped private equity (PE) firm Energy Spectrum Capital from looking to the future as it has agreed to sponsor a new Houston-based oil and gas midstream company that initially would look to build a portfolio of terminals and storage projects on the Gulf Coast. Tivoli…

Global oilfield operator Forum Energy Technologies Inc. said Tuesday second quarter revenue is projected to plunge 37-40% sequentially because of the sharp decline in U.S. oil and gas drilling. The Houston-based operator expects quarterly revenue to be $110-115 million, down by as much as 40% from the first three months of this year. Free cash…

Comstock Resources Inc., which works in the Haynesville and Bakken shales, filed in late June applications with the Texas Railroad Commissioner to drill four new wells in the natural gas-rich Haynesville Shale in East Texas. In a July 2020 investor presentation, Comstock highlighted favorable supply and demand fundamentals for natural gas with “sharp activity decline…

Lilis Energy Inc., which plies its exploration talents across the Permian Basin, on Monday sought voluntary protection under Chapter 11 to reduce debt. The filing came one day after onshore giant Chesapeake Energy Corp. filed for voluntary bankruptcy. Fort Worth, TX-based Lilis filed petitions in U.S. Bankruptcy Court for the Southern District of Texas, Houston…

Surging U.S. crude oil and natural gas production over the last decade or so has been accompanied by dramatic improvements in onshore drilling efficiency, the Energy Information Administration (EIA) said Thursday. Oil and gas output each hit all-time highs in 2019, even as the average monthly rig count and number of wells drilled per month…