Oil

Without easily accessible real-time storage or demand data, the LNG world often tries to interpret the health of Asian natural gas demand through the lens of public cargo tenders.

Enterprise Product Partners LP has begun service at its Poseidon cryogenic natural gas processing plant in Glasscock County in West Texas. The company’s sixth plant in the Midland sub-basin has a nameplate capacity of 300 MMcf/d and can extract more than 40,000 b/d of natural gas liquids (NGL). Enterprise now is able to process 1.3…

U.S. oilfield services (OFS) employment in June continued to hit post-pandemic highs, but jobs edged up by only 45 last month, according to an analysis of Bureau of Labor Statistics (BLS) data by the Energy Workforce & Technology Council.  Total OFS jobs inched up to 665,258 jobs in June, closer to the 706,528 jobs in…

The Biden administration is planning to invest $660 million to clean up orphaned natural gas and oil wells, with most of the funds earmarked for the energy producing states of Ohio, Pennsylvania and Texas. The goal is for the states to receive “economic growth and revitalization,” Department of Interior (DOI) officials said. The program would…

Natural gas and oil investments around the world may be lower today, but activity and production levels remain on par with the industry’s halcyon period between 2010 and 2014, according to Rystad Energy. “Persistent claims of chronic underinvestment in the global oil and gas industry are overblown,” researchers said. Upstream Investments have declined since spending…

Amid a mix of regional changes to drilling activity, the U.S. natural gas and oil rig count finished one unit lower at 695 for the week ended Friday (June 9), according to the latest tally from Baker Hughes Co. (BKR). Domestic changes for the period included a two-rig decline in natural gas-directed drilling, which was…

A target of 1Q2024 has been set for starting overseas crude oil exports on the nearly completed Trans Mountain Pipeline expansion (TMX). By almost tripling capacity to 890,000 b/d on the 704-mile route across Alberta and British Columbia, the project would foster increased natural gas consumption as the fuel for growing bitumen production in the…

Natural gas and oil drilling will not be allowed on public lands within 10 miles of New Mexico’s Chaco Culture National Historical Park for 20 years following a decision by the Biden administration. Interior Secretary Deb Haaland issued the land order on Friday (June 2). The order only applies to public lands and federal mineral…

New natural gas and oil drilling permits almost doubled in May in one portion of the Permian Basin in Texas, but overall, activity was down sharply in the state. The Railroad Commission of Texas (RRC) issued 65 natural gas and oil drilling permits for the San Angelo district, aka District 7C, a nearly 97% increase…