Texas

Texas Freeze Demonstrates Need for Further Mexico-U.S. Energy Integration, Expert Says

Texas Freeze Demonstrates Need for Further Mexico-U.S. Energy Integration, Expert Says

Freezing weather in Texas in February and the subsequent energy supply problems on both sides of the U.S.-Mexico border underline a need for greater energy integration between the two countries, Lorena Patterson, senior energy specialist and strategist, told NGI’s Mexico Gas Price Index.   “I would advocate for greater integration between the markets, and more diversification…

April 16, 2021
Led by Texas, Eight E&Ps, Five OFS Operators Sought Chapter 11 in 1Q

Led by Texas, Eight E&Ps, Five OFS Operators Sought Chapter 11 in 1Q

Eight of North America’s oil and gas producers filed for bankruptcy during the first three months of this year, the highest quarterly total since 2016, according to Haynes and Boone LLC. The law firm, which has monitored North American producer Chapter 11 filings since 2015, on Thursday issued its latest report covering 1Q2021. It also…

April 16, 2021
New Permian Oil, Gas Drilling Permits OK’d in March Surpass Year-Ago Total

New Permian Oil, Gas Drilling Permits OK’d in March Surpass Year-Ago Total

Texas operators applied for more oil and gas drilling permits during March than a year earlier, with the Permian Basin still the go-to place for activity, according to state regulators.  The Railroad Commission of Texas (RRC) said it issued 798 original drilling permits last month, versus 744 in March 2020.  Last month, the RRC issued…

April 13, 2021
Electric Power Sector Must Brace for Mounting Weather Disasters, Energy Economist Says

Electric Power Sector Must Brace for Mounting Weather Disasters, Energy Economist Says

The February freeze that crippled the Texas energy grid for days amplified a trend already well underway — high-cost and increasingly frequent climate-related disasters that the electric power industry struggles to manage through. That assessment comes in a new report from energy lender CoBank, based in Denver. The polar outbreak affected several states, requiring rolling…

April 7, 2021
Texas Storm Fallout Festers in Petrochemical, NGL Sectors

Texas Storm Fallout Festers in Petrochemical, NGL Sectors

The impacts of a Winter Storm Uri, which wreaked havoc on the Texas energy system in mid-February, are lingering nearly two months later as downstream facilities await freeze-related repairs. “From a natural disaster perspective, the impact on the petrochemical space from Uri is much greater than any previous event that we’ve had in recent memory,”…

April 6, 2021
ERCOT Says Power Generation More Than Enough to Meet Expected Record Summer Demand

ERCOT Says Power Generation More Than Enough to Meet Expected Record Summer Demand

A little more than a month after Texas’ main electric grid operator failed to keep the lights on during a prolonged freeze across the state, it said it has more than enough resources to meet projected record demand this summer. In its preliminary Seasonal Assessment of Resource Adequacy (SARA) for the summer released Thursday, the…

March 26, 2021
Mexico IPGN Natural Gas Prices Soar Tenfold in February to Historic High

Mexico IPGN Natural Gas Prices Soar Tenfold in February to Historic High

Mexico natural gas prices rose to an astonishing average of $21.37/MMBtu in February, up from $3.39/MMBtu in January, following freezing weather in Texas, according to the latest IPGN monthly natural gas price index published by the Comisión Reguladora de Energía (CRE). The February price, up from the February 2020 average of $2.71/MMBtu, was the highest…

March 25, 2021
NOV Reports ‘Softer’ E&P Orders, Hit to Operations from February Freeze

NOV Reports ‘Softer’ E&P Orders, Hit to Operations from February Freeze

Operational disruptions from freezing weather in February, as well as softer-than-expected customer orders are set to weigh on first quarter results, NOV Inc. said Tuesday. The Houston-based oilfield technology giant said severe weather during February knocked out operations in Oklahoma and Texas, two of its biggest operating regions. In addition, there has been an underwhelming…

March 17, 2021
Texas Retail Power Provider Griddy Seeking Chapter 11, Says ERCOT Caused ‘Financial Devastation’

Texas Retail Power Provider Griddy Seeking Chapter 11, Says ERCOT Caused ‘Financial Devastation’

Houston-based retail electricity provider (REP) Griddy Energy LLC has filed for Chapter 11 protection in the wake of February’s Winter Storm Uri, which caused power outages along with skyrocketing electricity and natural gas prices. A proposed reorganization would provide relief to Griddy customers unable to pay their electric bills as a result of scarcity pricing…

March 17, 2021
Fifth Circuit Finds Pipeline to Feed Rio Grande LNG Minor Threat to Wild Cats in South Texas

Fifth Circuit Finds Pipeline to Feed Rio Grande LNG Minor Threat to Wild Cats in South Texas

A federal appeals court ruled Wednesday that the U.S. Fish and Wildlife Service (USFWS) did not violate the Endangered Species Act (ESA) in determining that a pipeline that would feed the Rio Grande liquefied natural gas (LNG) project will not significantly harm wild cats in South Texas. USFWS issued a biological opinion (BO) and incidental…

March 11, 2021
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