Oil And Gas

Private Sector Sees Potential New Opening to Invest in Mexico Energy Sector

Private Sector Sees Potential New Opening to Invest in Mexico Energy Sector

Not for the first time, private sector energy leaders are holding high-level talks with senior officials of the current Mexican government in an effort to boost investment in oil, gas and power. This comes after Mexico’s government announced five energy projects worth $5 billion as part of a new public-private infrastructure plan. Four of the…

November 25, 2020
New Rules for Pennsylvania’s Conventional Oil, Natural Gas E&Ps Slowly Move Forward

New Rules for Pennsylvania’s Conventional Oil, Natural Gas E&Ps Slowly Move Forward

Pennsylvania regulators are moving ahead with regulations for conventional oil and natural gas producers, with tentative plans to unveil the rulemaking package next year as legislative efforts continue to fail.  The Republican-controlled general assembly sent another bill last week to establish regulations for legacy exploration and production (E&P) operators to Democratic Gov. Tom Wolf, who…

November 24, 2020
Colorado’s Updated Oversight of Oil, Gas Development Called ‘Watershed Moment’

Colorado’s Updated Oversight of Oil, Gas Development Called ‘Watershed Moment’

The Colorado Oil and Gas Conservation Commission (COGCC) has completed hearings to address sweeping changes to its mission, from “fostering” to “regulating” the industry.   The changes, which among other things also address wildlife mitigation impacts, were required by the state Senate Bill (SB) 19-181 signed into law last year. Hearings began in August to address…

November 23, 2020
Bakken’s Robust Production Threatened by Low Prices and Biden Presidency, North Dakota Officials Say

Bakken’s Robust Production Threatened by Low Prices and Biden Presidency, North Dakota Officials Say

North Dakota officials estimate that 25% of the Bakken Shale’s output could be negatively impacted by a change in energy policy under President-elect Joseph R. Biden Jr., threatening the 7,000 state-drawn, two-square-mile spacing units that contain all of the state’s future drilling sites. Nearly half (48%) of those units include federal-owned land and/or mineral rights,…

November 20, 2020
North American E&P, OFS Bankruptcies Slow in October, but More Expected

North American E&P, OFS Bankruptcies Slow in October, but More Expected

Bankruptcies in the North American oil and gas industry slowed to a total of three in October, but more filings are likely before year’s end, according to the latest monthly Oil Patch Bankruptcy Monitor report published Tuesday by Haynes and Boone LLP. “While the pace of bankruptcy filings for producers has slowed from the wave…

November 17, 2020
Federal Judge Chides BLM for ‘Sloppy’ Climate Review of Wyoming Oil, Gas Leases

Federal Judge Chides BLM for ‘Sloppy’ Climate Review of Wyoming Oil, Gas Leases

A federal district judge has again sent the Interior Department’s Bureau of Land Management (BLM) back to the drawing board on an environmental review of oil and gas leasing in Wyoming, citing inadequate consideration of climate change impacts. In a ruling filed late last week, Judge Rudolph Contreras of the U.S. District Court for the…

November 16, 2020
U.S. Crude Output Fell in August; Brent Poised to Average $47/bbl in 2021, EIA Says

U.S. Crude Output Fell in August; Brent Poised to Average $47/bbl in 2021, EIA Says

High global oil inventory levels and surplus production capacity will keep Brent crude prices near $40/bbl through the end of the year, with prices expected to climb to an average $47/bbl in 2021, according to a recent forecast from the Energy Information Administration (EIA). According to the agency’s latest Short-Term Energy Outlook (STEO), published Tuesday,…

November 11, 2020
California Resources Expecting No Significant Increase in Capex to Year’s End

California Resources Expecting No Significant Increase in Capex to Year’s End

California Resources Corp. (CRC) CEO Todd Stevens said the state’s largest independent is not planning any significant increase in capital investment in the fourth quarter after exiting bankruptcy last month.* CRC expects to add a renewable component to its traditional oil and gas business, Stevens said during the third quarter conference call.  “This has always…

November 10, 2020
Chatterjee Demoted at FERC; Trump Taps Danly as New Chairman

Chatterjee Demoted at FERC; Trump Taps Danly as New Chairman

FERC Chairman Neil Chatterjee, who recently oversaw the agency’s efforts to encourage regional carbon pricing mechanisms, has been demoted and President Trump has named James Danly, the Commission’s other sitting Republican, as the new chief. Chatterjee, a former energy policy adviser to Senate Majority Leader Mitch McConnell (R-KY), joined the Federal Energy Regulatory Commission in…

November 6, 2020
U.S. Rig Count Claws Back to 300 Mark on Strength of Oil Drilling

U.S. Rig Count Claws Back to 300 Mark on Strength of Oil Drilling

Another week of gains in oil-directed drilling lifted the overall U.S. rig count four units to an even 300 as of the week ending Friday (Nov. 6), according to the latest data published by Baker Hughes Co. (BKR). The BKR numbers, which are based on data provided in part by Enverus Drillinginfo, show a five-rig…

November 6, 2020
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