Oil

A start on additions to oil production offshore Newfoundland topped the 2023 growth agenda prompting a 50% budget increase for 2023 by Calgary-based Cenovus Energy Inc. Spending would jump to C$600-700 million ($450-525 million) in 2023 to begin work on a new platform and drilling, dubbed West White Rose, 180 miles east of Newfoundland’s capital,…

After rejecting a call in September to shut off Enbridge Inc.’s cross-border Line 5, a federal court in Wisconsin has directed the pipeline company and the Lake Superior Chippewa’s Bad River Band to work together on a spill risk reduction plan for the 540,000 b/d oil conduit. U.S. District Court Judge William Conley of the…

U.S. crude production held steady last week while demand ticked lower even amid Thanksgiving holiday travel. Oil prices pushed higher Wednesday, though gains developed prior to the government data release. Market speculation that OPEC and its allies could further slash production through this year and into 2023 propelled bulls. Brent crude prices hovered around $85/bbl…

Enterprise Products Partners LP’s proposed 2 million b/d oil export terminal, to be sited offshore Texas, is inching forward after federal approval was given to apply for a permit. The Maritime Administration (MARAD) in its 94-page Record of Decision said before a license is issued and construction begins on the Sea Port Oil Terminal, aka…

U.S. exploration and production (E&P) companies kept output for the week ended Nov. 18 at 12.1 million b/d, even with the prior week and generally on par with the level maintained through the fall, according to the Energy Information Administration (EIA).   E&Ps raised production to a pandemic-era high of 12.2 million b/d at points in…

Upstream oil and natural gas employment in Texas grew in October, with 2,800 jobs added for the month, according to state data. The gains in oil and gas extraction, as well as support jobs, were even more impressive after the Texas Workforce Commission (TWC) revised upward the job gains in September to 2,200 from an…

Driven by gains in the oil patch, the U.S. rig count added two rigs overall to reach 784 during the holiday-shortened work week ended Wednesday (Nov. 23), according to updated numbers published by oilfield services provider Baker Hughes Co. (BKR). Four oil-directed rigs were added in the United States for the period, partially offset by…

The lesser prairie-chicken, whose habitat is spread across five U.S. states, has been listed as endangered or threatened under the stringent Endangered Species Act (ESA), which may lead to issues for future oil and natural gas development. The U.S. Fish and Wildlife Service (USFWS) earlier this month listed two distinct population segments (DPS) of the…

U.S. oil production held steady last week, just shy of the pandemic-era high, even as demand slowed amid warnings of economic headwinds. The Energy Information Administration (EIA) said Wednesday that output for the week ended Nov. 11 was on par with the previous week at 12.1 million b/d. That kept production levels within 100,000 b/d…