August 26, 2019
The former CEO of the America’s Natural Gas Alliance and high-ranking member of the American Petroleum Institute is the new president of the US Chamber of Commerce Global Energy Institute….
August 23, 2019
The number of active commercial oil & gas drilling rigs in the US dropped by 19, according to Friday figures from Baker Hughes GE, a two-year low….
August 23, 2019
Billionaire conservative activist and political donor David Koch died Friday morning at age 79….
August 23, 2019
In a major victory for TC Energy (formerly TransCanada) in Nebraska, the seven-judge state supreme court ruled unanimously on Friday that an alternate route for the Keystone XL Pipeline is acceptable….
August 22, 2019
President Donald Trump has been having trouble attracting energy company campaign contributions that will likely flow eventually, but such problems pale when compared to his possible GOP rivals, according to new reports from a Washington research organization.
Center for Responsive Politics (CRP) research indicates wide skepticism of Mr. Trump’s trade tariff efforts, despite his pro-energy agenda.
And while there are indications that the Trump 2020 campaign will be receiving unexpected support from a number of political sectors, and while research into expected donations is already underway, the fact that the vote remains well more than a year away renders much of the research speculative.
Still, oil, gas, coal and other energy money will likely be crucial to the entire election cycle again over the next 14 months, and the landscape will be even more complicated than the most recent election….
By Alex Mills
August 21, 2019
The automobile industry has searched for several decades for the solutions to the many problems it faces in developing vehicles powered by batteries solely.
General Motors (GM) has a long history in trying to develop its EV1 electric car but discontinued that effort in 2003, but continued to offer hybrid vehicles, which operate on battery power with gasoline powered engines as backup.
However, The Wall Street Journal reported this week that GM and Volkswagen say they see no future for hybrids and they will concentrate fully on electric vehicles.
GM will develop some 20 styles of electric vehicles (plug-in) during the next four year under the Chevrolet and Cadillac brands….
August 19, 2019
Texas is among 10 states set to receive a total of $181 million for upgrading rural electric systems, with Deep East Texas Electric Cooperative getting a good share…..
August 19, 2019
Some specific solar and wind electricity generation systems components are taxable for sales and use while others are exempt, according to a letter from the Texas Comptroller of Public Accounts….
August 19, 2019
A group of Sanchez Energy Corp.‘s unsecured debt holders asked a Texas bankruptcy court last Tuesday (8/13) to “put the brakes on the company’s request for Chapter 11 financing.”….
August 19, 2019
The Railroad Commission of Texas (Commission) issued a total of 912 original drilling permits in July 2019 compared 1,153 in July 2018. The July 2019 total included 836 permits to drill new oil or gas wells, eight to re-enter plugged well bores and 68 for re-completions of existing well bores. The breakdown of well types for those permits is 212 oil, 58 gas, 537 oil or gas, 93 injection, three service and nine other permits….
August 15, 2019
ERCOT said Thursday afternoon a Level 1 alert is in effect — wind generation is down, at least one backup generation ‘is out’ bringing grid to lower overall generation level.
No outages are expected at least for now.
The grid coordinator is calling for electricity users to cut back usage.
Level 1 is the lowest of three levels of emergency alert.
Some fewer generation sources unavailable when compared to earlier in the week, ERCOT Senior Director of System Operations Dan Woodfin saAugust 15, 2019
ERCOT said Thursday afternoon a Level 1 alert is in effect — wind generation is down, at least one backup generation source ‘is out’ bringing grid to lower overall generation level.
No outages are expected at least for now.
This alert is not weather related, ERCOT said.
The grid coordinator is calling for electricity users to cut back usage.
Level 1 is the lowest of three levels of emergency alert.
Some fewer generation sources unavailable when compared to earlier in the week, ERCOT Senior Director of System Operations Dan Woodfin said…..
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August 14, 2019
A longtime oil and gas banking specialist is the new chief commercial officer at the Texas Pacific Land Trust…..
August 14, 2019
Crude oil and natural gas production as reported to the Railroad Commission of Texas (RRC) for May 2019 came from 177,644 oil wells and 89,952 gas wells….
August 13, 2019
Reliant Energy is asking its Texas customers to continue conserving electricity through Thursday, after power prices spiked above $9,000/MWh and an emergency action declared by ERCOT on Tuesday afternoon was cancelled after less than two hours….
August 13, 2019
Comstock Resources‘ second quarter financial and operations results continue to feature contributions from the 2018 merger of properties from Dallas Cowboys owner Jerry Jones.
The North Texas billionaire contributed Bakken Shale properties to the company in exchange for a controlling interest while it refinanced its long-term debt.
Following are highlights Comstock’s press release on quarterly and half-year results:
For the second quarter of 2019, Comstock reported net income of $21.4 million or $0.20 per diluted share as compared to a net loss of $34.0 million or $2.22 per share for the Predecessor second quarter of 2018. The second quarter 2019 results included an unrealized gain from derivative financial instruments held to manage oil and gas price risks of $12.8 million and Covey Park merger related transaction costs of $1.4 million. Excluding these items, the net income for the second quarter of 2019 would have been $12.7 million or $0.12 per diluted share….
August 13, 2019
Contango Oil & Gas Company (NYSE American: MCF) (“Contango” or the “Company”) announced today its financial results for the second quarter ended June 30, 2019 and provided an operational update.
Second Quarter Highlights
…
August 13, 2019
The Railroad Commission of Texas assessed $864,689 in fines involving 270 enforcement dockets against operators and businesses at the Commissioners’ conference this week. The Commission has primary oversight and enforcement of the state’s oil and gas industry and intrastate pipeline safety….
August 13, 2019
Lilis Energy, Inc. (NYSE American: LLEX), an exploration and development company operating in the Permian Basin of West Texas and southeastern New Mexico, today reported financial and operating results for the second quarter of 2019.
Second Quarter 2019 Highlights
….
August 13, 2019
The first crude oil delivery arrived this week for Trafigura and Houston’s Buckeye from the Cactus II pipeline in Corpus Christi….