Oil

Editor’s Note: This is one of a 14-piece series NGI undertook as the energy industry readied for the new year, with Lower 48 natural gas and oil supply continuing to surge in an uncertain environment as liquefied natural gas exports ramp up, Mexico markets remain shrouded and stakeholders demand more value. Get your complimentary copy of NGI’s 2020 Special Report today.

Seeking to boost crude oil deliveries to the Gulf Coast, Seaway Pipeline is gauging interest for a proposed 200,000 b/d expansion of its 500-mile, 30-inch diameter system stretching from Cushing, OK, to the Freeport, TX, area.

Bakken Shale oil and natural gas production declined in September but North Dakota’s top oil and gas regulator said Tuesday the numbers could reverse in the next report covering October.

Targa Resources Corp. brought online a handful of expansion projects in the third quarter, with the bulk of the expansions taking place in the Permian Basin, management said during a conference call to discuss 3Q2019 earnings.

Alaska Lt. Gov. Kevin Meyer certified a ballot initiative last week that would end certain tax credits for oil and natural gas production in the state’s most prolific regions, and effectively increase tax rates.

Oil and natural gas production in August again set monthly records in North Dakota, but the statistics belie falling prices since, a state official said Thursday.

U.S. oil exports averaged 2.9 million b/d through June, an increase of 966,000 b/d from the first half of 2018, and they set a record high monthly average in June at 3.2 million b/d, according to the U.S. Energy Information Administration (EIA).

Oil prices, which spiked following attacks on Saudi oil infrastructure in mid-September, remain in flux beyond 2019, as questions swirl about whether a second quarter dip in demand was transitory or permanent.

The recent attack on key oil infrastructure in Saudi Arabia demonstrated the muscle of North American oil and natural gas production, but it again tested the notion of energy independence and enduring exposure to global energy markets.