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Shale Daily

Rice-Backed Firm Prowling for Sustainable Energy Deals after $345M IPO

Rice-Backed Firm Prowling for Sustainable Energy Deals after $345M IPO

Former Rice Energy Inc. CEO Daniel Rice is doubling down on the energy transition with the debut of a second sustainability-focused blank-check firm. Rice Acquisition Corp. II (RAC II) raised $345 million in its initial public offering (IPO), which closed last week. The company, founded and led by Rice, plans to use the proceeds to…

June 22, 2021
Oil Price Boom Forecast to Reach $100, Potentially Marking Crude’s Last Great Rally

Oil Price Boom Forecast to Reach $100, Potentially Marking Crude’s Last Great Rally

As major economies across the globe emerge from the doldrums of the pandemic and travel surges, oil prices could further spike and reach $100/bbl by next year, according to the most bullish Wall Street forecast yet this year. It could also mark the final surge in oil prices, however, as pressure intensifies on energy companies…

June 22, 2021
Devon Paring Flared Gas, Freshwater Use in Permian Completions to Reach Net-Zero Carbon Goals

Devon Paring Flared Gas, Freshwater Use in Permian Completions to Reach Net-Zero Carbon Goals

Oklahoma City-based Devon Energy Corp. on Monday joined many of its Lower 48 oil and gas peers in establishing environmental performance targets to reduce the carbon intensity of its operations and cut overall emissions from its supply chain. By 2030 the onshore producer plans to reduce methane emissions intensity by 65%. Flaring intensity is set…

June 22, 2021
Battelle, Catahoula Partner to Combat Ethanol-Based CO2 Emissions

Battelle, Catahoula Partner to Combat Ethanol-Based CO2 Emissions

Battelle Memorial Institute and Catahoula Resources LLC have agreed to partner to manage carbon dioxide (CO2) emissions produced from ethanol facilities in Nebraska.  Houston-based Catahoula, and Allentown, PA-based Battelle plan to investigate solutions for the capture, transport, and sequestration of CO2 emissions from ethanol.The two plan to design and construct several low-cost storage options either…

June 21, 2021
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
Six U.S. Research Teams Tapped to Advance DAC Prospects to Capture, Store GHG

Six U.S. Research Teams Tapped to Advance DAC Prospects to Capture, Store GHG

Six U.S. projects designed to advance direct air capture (DAC) technology to snatch carbon emissions from the atmosphere are the focus of a new federal funding effort. The Department of Energy (DOE) is deploying $12 million for research and development (R&D) underway to remove carbon dioxide (CO2) emissions from the air. Funding is being directed…

June 21, 2021
Bakken Pipeline Expected to Help North Dakota Production, Natural Gas Capture

Bakken Pipeline Expected to Help North Dakota Production, Natural Gas Capture

A Bakken Shale natural gas pipeline project is expected to increase North Dakota’s efforts to raise production and reduce flaring, according to the director of the state’s Pipeline Authority. MDU Resources Group Inc.’s pipeline unit, WBI Energy Inc. earlier this month received approval for an expansion project to build the North Bakken pipeline. Construction should…

June 18, 2021
Rigs Flocking to Oil Patch as U.S. Count Surges to 470

Rigs Flocking to Oil Patch as U.S. Count Surges to 470

The U.S. oil patch continued to add to its numbers during the week ended Friday (June 18) as the overall domestic rig count surged nine units higher to 470, according to the latest figures from Baker Hughes Co. (BKR). Changes in the United States for the week included the addition of eight oil-directed rigs, along…

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
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