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Oil

Michigan Moves to Prevent Restarting Enbridge Line 5 Oil Deliveries

Michigan Moves to Prevent Restarting Enbridge Line 5 Oil Deliveries

A formal demand to shut off oil flows immediately has been added to the Michigan lawsuit seeking to cancel the state’s 1953 right-of-way easement for Enbridge Inc.’s 540,000 b/d Line 5 across the Straits of Mackinac. Michigan Attorney General Dana Nessel injected urgency into the case by filing motions requesting an injunction and restraining order…

June 23, 2020
Oil Export Growth Continuing at South Texas Corpus Port Despite Covid-19

Oil Export Growth Continuing at South Texas Corpus Port Despite Covid-19

Crude exports from the Port of Corpus Christi in South Texas are continuing to boom even amidst the coronavirus pandemic, and projects and enhancements appear poised to solidify its dominance along the Gulf Coast.

June 17, 2020
North Dakota Keeping Close Eye on DAPL Court Challenges

North Dakota Keeping Close Eye on DAPL Court Challenges

North Dakota is keeping a wary eye on the continuing legal challenges facing the Dakota Access Pipeline (DAPL), which carries 40% of the daily oil supplies from the prolific Bakken Shale.

June 17, 2020
Canadian E&P Spending Seen Contracting, but Natural Gas Outlook Positive

Canadian E&P Spending Seen Contracting, but Natural Gas Outlook Positive

Oil and natural gas investment will shrink by as much as 25% in Canada’s top producer province this year, the Alberta Energy Regulator (AER) said in its annual review.

June 10, 2020
Texas E&P Industry Records Stinging Losses in April as Covid-19 Strips Jobs, Permitting and Production

Texas E&P Industry Records Stinging Losses in April as Covid-19 Strips Jobs, Permitting and Production

Texas oil and gas activity suffered a bloodbath of sorts in April as the state began to register the full effects of the Covid-19 lockdowns, with upstream jobs tumbling to the largest monthly decline on record, the Texas Alliance of Energy Producers said Wednesday.

June 10, 2020
Lower Crude Prices Forecast to Reduce Global Reserves Growth, Increase Impairments

Lower Crude Prices Forecast to Reduce Global Reserves Growth, Increase Impairments

Oil and natural gas exploration and development (E&D) is predicted to decline in line with lower crude prices, which in turn would ding the value of proved reserves, the Energy Information Administration (EIA) said Thursday.

June 4, 2020
NGL Energy Says Customers Still Drilling in Permian

NGL Energy Says Customers Still Drilling in Permian

Although there are “significant challenges” in the current oil environment, NGL Energy Partners LP management struck an optimistic tone for the second half of the year as customers are “ready to ramp up production” in the coming months.

June 3, 2020
Even at Higher Oil Prices, More North American E&Ps Predicted to Seek Bankruptcy Protection

Even at Higher Oil Prices, More North American E&Ps Predicted to Seek Bankruptcy Protection

Nineteen North American exploration and production (E&P) operators have filed for bankruptcy protection since the start of the year, and it is “reasonable to expect” more companies will seek protection from creditors in the months to come, according to Haynes and Boone LLP.

June 3, 2020
Montage Turning Shut-in Production Back to Sales as Crude, NGL Prices Increase

Montage Turning Shut-in Production Back to Sales as Crude, NGL Prices Increase

Appalachian pure-play Montage Resources Corp. said rising oil and natural gas liquids (NGL) prices have prompted it to bring back production curtailed earlier in the year, which has led to an increase in full-year guidance.

June 3, 2020
GOP Lawmakers Want White House to Block Financial Institutions’ ‘Discrimination’ Against Energy Sector

GOP Lawmakers Want White House to Block Financial Institutions’ ‘Discrimination’ Against Energy Sector

Republican members of Congress have asked the Trump administration to battle what they say is discrimination against the U.S. fossil fuel industry by domestic financial institutions.

May 13, 2020