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Author: <span>Shiloh</span>

Well, Here’s What Some O&G Pros Are Saying Candidly About the State of the Industry Today

September 26, 2019

As Oil Price‘s Nick Cunningham pointed out recently, there’s one place you can find unvarnished opinion on the state of the Texas oil and gas industry, where the comments are made anonymously and therefore roughly carry the weight of insider analysis, and that’s in the “comments” section of the Dallas Federal Reserve‘s new 3rd Quarter Fed Energy Survey — no need to mince words here — and the outlook isn’t very pretty, so we gathered a large number of the most revealing comments below (some are bolded for emphasis)…….
 

US Shale Is Not Going Bankrupt: Rystad

September 26, 2019

Yes, there has been an increase in the number of E&P bankruptcies this year over last, and yes there are financial problems facing the O&G industry nationwide, not the least of which is reticent capital markets; and yes top shale companies have more than a billion dollars coming due in market debt over the next seven or so years — but Rystad Energy says this is not a harbinger of doom…..
 

Many Energy Workers Exempted from Imedla-Related Curfews in Jefferson, Chambers Counties

September 25, 2019

Most oil, gas and electricity workers are exempt from Tuesday’s order by Jefferson County Judge Jeff Branick for a county curfew between 11 pm and 5 am, which joins Chambers County Judge Jimmy Sylviain‘s 10 pm to 7 pm curfew in the counties that are still recovering from the effects of Tropical Storm Imelda….
 

Canada Says “Game On” In Texas’ Attempts to Poach Companies But Concerns Are Real

Alberta, Canada’s premier says there has been a huge flight of money and jobs from his energy sector to Texas in recent years… “The Americans are playing a very strategic game and quite frankly I think they’re winning at that.”
 
September 24, 2019

You may not know it, but Texas has not only been trying to interest Californians in taking up residence here, but Canadians as well — and while California doesn’t seem to care much (other than blaming Texas for its homeless problems) — now Canada’s “fighting” back…..
 

Texas Puts the “Able” in Renewable Energy for Google and Honda

Honda’s buying Texas solar power to offset CO2, but also plans to convert more than 60% of its vehicle sales to electric-power by 2030, using renewable power for charging those vehicles

 

September 23, 2019

Google‘s new corporate buy in renewables capacity is the biggest in history, with Texas solar farms able to supply the largest North American power contribution.

But Texas will also be a major player, along with Oklahoma, in supplying a new goal for Honda‘s manufacturing plants’ carbon offsets……
 

Texas Drilling Permits September 12-18: RRC

September 21, 2019

Permit applications approved by the Texas Railroad Commission for Sept. 12 through Sept. 18 for Districts 7C, 8 and 8A.

Numbers in parentheses indicate the number of permits approved for that leasehold.

Hover over permit information to see RRC file links.

 

Anadarko E&P Onshore LLC, Griffin State 56-3-41 Unit, Reeves, new drill (3); Magic State 56-3-39 Unit, Reeves, new drill (3); APC Fee 6, Loving, new drill.

Apache Corporation, CC 33, Upton, new drill.

…..
 

Oil Supplies Ample After Attack on Saudi Oil Facility

By Alex Mills

The attack on an oil processing facility in Saudi Arabia last week has raised new questions about the reliability and security of oil supplies in the future.

The attack on the Saudi Aramco Abqaiq oil processing facility, the world’s largest crude oil processing stabilization plant, occurred on Sept. 14, and originally took out approximately 5 million barrels per day (b/d) of the facilities capacity of 7 million b/d.

Crude oil prices on the futures markets initially increased about 10 percent closing at $68.10 for Brent and $61.95 for West Texas Intermediate on Sept. 16. However, by midweek prices had dropped to $63.52 for Brent and $58.10 for WTI.

Saudi Aramco stated it expected to resume full production by the end of September. Meanwhile, crude oil exports to customers will continue without interruption by drawing on existing inventories and offering additional crude oil production from other fields.

The Energy Information Administration (EIA) at the U.S. Department of Energy reported tanker loading estimates from third-party data sources indicate that loadings at two Saudi Arabian export facilities have been restored to the pre-attack levels……