Koch Brothers, Russian Oil Billionaires Dominate Forbes Latest List

March 7, 2018

 

Charles and David Koch are the only petrochemical billionaires in the Forbes top ten among the “three comma” club.

The World’s Billionaires list released Tuesday shows the Koch brothers tied for #8 on the list with an estimated $60 billion each, far behind #1 Jeff Bezos with $110 billion and Bill Gates at #2 with $90 billion and Warren Buffet #3 with $84 billion.

The next energy-related name…
 

Uresti Defeated In Primary. No, Not That Uresti.

March 7, 2018

 

There were a few surprises in Tuesday’s primary elections, but none bigger than the loss in Texas House District 118, where the older brother of state Senator Carlos Uresti was defeated by a little-known challenger, Leo Pacheco.

Carlos Uresti was convicted by a federal jury February 22nd in fraud charges stemming from a failed oil services company; there are calls for…

 

Fracked Gas Put This Nuclear Plant Out Of Business, But Nuclear Waste Could End Up In Fracking Country

March 6, 2018

 

It’s the nuclear plant that fracking shut down, and now the Texas company that specializes in disposing of nuclear waste is part of a new agreement to decommission the plant sooner rather than later.

Entergy Nuclear shut the Vermont Yankee plant in 2014, saying at the time that fracked natural gas flowing into the New England markets placed the plant a disadvantage in negotiating power contracts, but a new agreement filed in Vermont on Friday appears to move up…

 

CERAWeek: OPEC Cooperation ‘Solid As the Rock of Gibralter”: Report

March 6, 2018

 

OPEC Secretary General Mohammed Barkindo asserted that the oil cartel’s ongoing efforts to limit global crude production, along with 11 non-OPEC countries, could serve as a long-term strategy to reduce boom-and-bust oil prices, here at the “Oil Man’s Davos,” CERAWeek in Houston on March 5, World Oil reports.

“Barkindo expressed interests in not only extending production cuts wrought by the Declaration of Cooperation—now referred to by some…

 

CERAWeek: OPEC Leaders Formally Meet Shale Producers and Investors

March 6, 2018

 

Despite volatility in oil markets, future growth demand will be strong.

That’s the message from several speakers at the CERAWeek conference so far, but the big story is in the meetings.

At this year’s Houston conference are meetings on economics between members of OPEC and other oil producing nations and American shale drillers to talk about the future…

 

No Peak Demand Seen, But IEA Warns Over Low Investment, Lack of Pipeline Capacity

March 5, 2018

 

The next wave of North American oil production is being undercut by lack of pipeline capacity, the International Energy Agency said Monday, but its new report sees “no peak demand in sight.”

And while opposition and red tape continue to hamper the pipelines needed for increase future crude pumping, there will be more need for rail transportation capacity, which could supply up to 900,000-bpd spare export production….

 

Oil Rig Count Reaches 800, Permian Still King: Baker Hughes GE

March 2, 2018

 

The US commercial oil rig count was up for the sixth straight week in Friday figures from Baker Hughes GE, adding one rig overall this past week, bringing the total count to 800 for the first time since 2015.

Its the first time since last June that the rig count has increased for six weeks in a row.

Accumulating exploration…

 

West Texas Oilman Ramps Up Political Pressure With Op-Ed, Seliger “Positive” (video)

March 2, 2018

 

The West Texas co-founder of CrownQuest Operating, LLC is making news again, as he has in previous election years, as an effective contributor to state politics and as chairman of the conservative group Empower Texans.

And now in the 37-county District 31 state senate race, Tim Dunn says he’s supporting fellow Republican and former Midland Mayor Mike Canon over both the GOP incumbent Kel Seliger and Republican challenger Victor Leal.

In an interview…

 

Range Resources’ Strong 4Q, Growth Estimates

March 2, 2018

 

Ft. Worth’s Range Resources‘ fourth quarter 2017 total revenues of $679 million beat the Zacks Consensus Estimate of $643 million and surged 168% year over year from $253.5 million.

Those results were boosted by an increase in oil and gas equivalent production and price realizations, partially offset by higher expenses…

 

Dynegy Selling Power Station

November 21, 2017

 

Dynegy is selling a Massachusetts power station that it shut down earlier in the year.

The Houston company said Thursday it’s reached an agreement for Commercial Development Co. Inc. of St. Louis to buy the 307-acre site of the Brayton Point Power Station in Somerset, Massachusetts for an undisclosed price.

Dynegy purchased the station in 2015, one of ten plants in a more than $3 billion deal with New Jersey’s Energy Capital Partners.

Dynegy said the deal should close next month.

“Tariffs will cause more problems than they solve.”
– The National Association of Manufacturers

The TER Buzz: