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Oil

Magellan, Enterprise and ICE to Launch Houston Oil Futures Contract

Magellan, Enterprise and ICE to Launch Houston Oil Futures Contract

A new oil futures contract is coming to the Gulf Coast. Magellan Midstream Partners L.P., Enterprise Products Partners LP and Intercontinental Exchange Inc. (ICE) said Monday they would partner to create a contract for the physical delivery of crude in the Houston area. The companies said the Midland WTI American Gulf Coast contract (ICE: HOU)…

June 21, 2021
GOM Activity Rising, with Williams Set to Expand Natural Gas Infrastructure

GOM Activity Rising, with Williams Set to Expand Natural Gas Infrastructure

Natural gas and oil opportunities in the deepwater Gulf of Mexico (GOM) look to be expanding, with Tulsa-based Williams preparing to take advantage. The midstream giant, which already has substantial GOM infrastructure, recently clinched an agreement to gather and transport natural gas from the Shenandoah development underway in the deepwater. The agreement is with Beacon…

June 18, 2021
U.S. OFS Jobs Seen ‘Fairly Flat’ as E&Ps Shift from Production Growth

U.S. OFS Jobs Seen ‘Fairly Flat’ as E&Ps Shift from Production Growth

Employment in the U.S. oilfield services (OFS) sector ticked up in May as growth in support roles and equipment fabrication offset declines in extraction, pipeline construction and manufacturing, according to estimates by the Energy Workforce & Technology Council. The sector grew by 1.6% in May, racking up an additional 9,707 jobs over April, according to…

June 18, 2021
Pony Express Testing Support for Wyoming-to-Colorado Oil Pipe Expansion

Pony Express Testing Support for Wyoming-to-Colorado Oil Pipe Expansion

Tallgrass Pony Express Pipeline LLC has launched a binding open season to gauge interest from crude oil shippers in securing expansion capacity on a section of the 830-mile pipeline. Pony Express has a capacity of roughly 400,000 b/d, and sources crude from the Williston, Denver Julesburg and Powder River basins. The system stretches from Guernsey,…

June 18, 2021
Federal Judge Temporarily Halts New Oil Leases as Sage Grouse Battle Festers in Wyoming, Montana

Federal Judge Temporarily Halts New Oil Leases as Sage Grouse Battle Festers in Wyoming, Montana

Federal authorities must apply more scrutiny to potential impacts on greater sage grouse across hundreds of oil and natural gas leases in Wyoming and Montana before authorizing new drilling, a federal judge in Idaho has ruled. Magistrate Judge Ronald Bush ruled that the Interior Department’s Bureau of Land Management (BLM), under former President Trump, failed…

June 14, 2021
Mexico’s Pemex Scraps Zama Offshore Oil Appraisal Well as Wrangling Over Operatorship Continues

Mexico’s Pemex Scraps Zama Offshore Oil Appraisal Well as Wrangling Over Operatorship Continues

Mexico’s state oil company Petróleos Mexicanos (Pemex) has jettisoned plans to drill an appraisal well delineating the Zama shallow water oil deposit, which straddles one block operated by Pemex and another operated by Talos Energy Inc. The decision was revealed Tuesday during a session of upstream regulator Comisión Nacional de Hidrocarburos (CNH). CNH approved a…

June 9, 2021
Natural Gas Count Down One in U.S. as Oil Count Steady

Natural Gas Count Down One in U.S. as Oil Count Steady

The U.S. natural gas rig count fell one unit to 97, while the oil-directed rig count remained unchanged, leaving the overall domestic drilling total essentially flat for the week ended Friday (June 4), according to updated figures from Baker Hughes Co. (BKR). The United States had a combined 456 active rigs as of Friday, up…

June 4, 2021
Alberta’s Pembina Acquiring Inter Pipeline Natural Gas, Oil Infrastructure in $6.6B Tie-up

Alberta’s Pembina Acquiring Inter Pipeline Natural Gas, Oil Infrastructure in $6.6B Tie-up

Pembina Pipeline Corp. will take over Inter Pipeline Ltd. in an agreement announced Tuesday to combine their Calgary-based western Canadian delivery, processing and storage networks for natural gas, liquid byproducts, oil and petrochemicals. The all-stock deal values Inter Pipeline at C$8.3 billion ($6.6 billion), topping a rejected bid from Brookfield Infrastructure Corp. in Toronto by…

June 1, 2021
U.S. Drops One Natural Gas Rig; Oil Count Climbs

U.S. Drops One Natural Gas Rig; Oil Count Climbs

The U.S. natural gas rig count fell one unit to 98 for the week ended Friday (May 28), including a decline in drilling activity in the Northeast, according to updated figures published by Baker Hughes Co. (BKR). The addition of three oil-directed rigs in the United States offset the decline in natural gas drilling to…

May 28, 2021
Mexico Private Sector Oil Output up 10.5% in April

Mexico Private Sector Oil Output up 10.5% in April

Private sector oil production in Mexico averaged 61,501 b/d during April, up from 55,682 b/d in April 2020, a 10.5% year/year increase, according to data from upstream regulator Comisión Nacional de Hidrocarburos (CNH). This marks the first time that monthly private sector production has surpassed 60,000 b/d since Mexico’s 2013-2014 constitutional energy reform ended state…

May 26, 2021