E&P

Forty-five governments and producers, including BP plc and the State of California, plan to end routine natural gas flaring at oil production sites by 2030, the World Bank said Monday.

Natural gas and oil production from the nation’s seven largest unconventional plays in January is expected to compare with this month, despite colder weather and improving rig efficiency, the Energy Information Administration (EIA) said.

Dallas-based exploration and production company Aresco LP has acquired “a substantial working interest” in the Tuscaloosa Marine Shale (TMS) in Louisiana and Mississippi.

After nearly a year under the direction of a new administration, the Pennsylvania Department of Environmental Protection’s (DEP) job hasn’t gotten any easier.

Marathon Petroleum Corp. outlined a $4.2 billion 2016 capital investment plan at an investor meeting on Thursday, just two days after the company said MarkWest Energy Partners LP unitholders overwhelmingly approved a merger with MPC’s master limited partnership (MLP), MPLX LP.

U.S. crude oil prices slumped below $40/bbl on Friday after OPEC sidestepped action to curb output levels, despite a saturated market.

The Oklahoma Corporation Commission (OCC) ordered seven wastewater disposal wells shut in, and ordered another 66 wells to curtail their disposal volumes by 25-50%, as the regulatory agency “continues its evolving response” to a pair of strong earthquakes that struck the state within the last two weeks.

The tally of rigs plying unconventional basins held mostly steady from one basin to the next in the latest weekly census by Baker Hughes Inc. The Permian saw the exit of four rigs, making it the biggest loser for the week ending Friday (Dec. 4).

The tally of rigs plying U.S. natural gas plays is off 44% from one year ago, and that’s with a slight uptick of three units in the latest rig census by Baker Hughes Inc. for the week ending Friday (Dec. 4).