Duke Energy Completes Texas Solar Project, Future Looks Sunny
July 9, 2020
The solar market is expanding rapidly in Texas and Duke Energy is bullish…..
RRC Adopts Revisions to LPG Form 1 and New LPG Form 1M
July 9, 2020
The Railroad Commission of Texas (RRC) has adopted revisions to LPG Form 1, Application for LPG License or License Renewal and new LPG Form 1M, Application for LPG Container Manufacturer Registration.…
Sparks Holdings Acquires Echo Electric-Line Contractor Echo Powerline
July 8, 2020
Alabama-based Sparks Holdings Inc. has acquired Louisiana-based powerline construction contractor Echo Powerline LLC.
Both companies do a lot of business with electric utility companies in Texas.
Sparks Holdings is an investment affiliate of Sparks Energy Inc…..
Texas Drilling Permits and Completions Statistics for June 2020: RRC
July 8, 2020
The Railroad Commission of Texas issued a total of 312 original drilling permits in June 2020 compared to 1,001 in June 2019. The June 2020 total includes 262 permits to drill new oil or gas wells, three to re-enter plugged well bores and 21 for re-completions of existing well bores….
Mosman-Eagle Deal Postponed
July 8, 2020
The completion date for an agreed sale of Australia-based Mosman Oil and Gas‘s Welch Project in Texas to Eagle Natural Resources has been postponed a second time…..
Viking — and Camber — Restarting Wells, Selling Crude At Higher Market Prices
July 8, 2020 Houston’s Viking Energy Group has made the decision to re-activate some of its wells. The wells were “turned off or dialed back” because of the collapse in oil prices, which …
Linde Houston-Area Plants Sending Specialty Gases Via Gulf Coast Pipeline
July 7, 2020
Operations are underway at Linde‘s hydrogen and carbon monoxide facility in Clear Lake and at a new air separation unit in LaPorte, both near the Port of Houston….
Houston Sustainable Aviation Fuel Sent By Pipeline Because Alternative Would Just Burn More Fossil Fuel
July 6, 2020
Low-emission aviation fuel is now arriving at San Francisco International Airport (SFO) from the Houston area — via a pipeline, what else?…
Court Orders Dakota Access Pipeline Shutdown
July 6, 2020
A US district court has ordered the complete shutdown of Energy Transfer‘s Dakota Access pipeline, saying one permit for the line doesn’t meet National Environmental Policy Act standards — the court ordered the permit to be reviewed and undergo an analysis by regulators….
Four Louisiana O&G Services Companies File for Bankruptcy
July 5, 2020
At least four Louisiana O&G services companies have filed for bankruptcy protection over the past several weeks, according to the Louisiana Oil and Gas Association, which recently said about half its 460 members are considering such action as a result of the current economic downturn…..
Millenium PetroCapital Is In the Austin Chalk
July 4, 2020
Texas E&P Millennium PetroCapital Corporation has a new multiple-development plan underway with two wells in the Austin Chalk…..
Concern for Other Texas Companies Now That Chesapeake Has Bankruptcy Protection
July 4, 2020
Chesapeake Energy filed for bankruptcy protection last week — now what other companies should we be concerned about?….
Our Nuclear Waste Containment Measures Aren’t Nearly As Secure As We Think, University of North Texas Researcher Says
July 4, 2020
A University of North Texas researcher is presenting preliminary findings that, because of corrosion of stainless steel containers, waste from nuclear power plants is nowhere near as stable as is commonly considered….
Comerica Bank Sees Coming Improvement In Its Index Despite Fall
July 3, 2020
Comerica Bank‘s Texas Economic Activity Index decreased in April but sees improvement ahead on increased demand for gasoline, crude and electricity….
What Downturn? Legacy Exploration Drills Two Wells
July 3, 2020
Legacy Exploration‘s CEO, saying he can’t think of a better time than now, says the Dallas company is starting to drill on two horizontal wells in the Fort Worth Basin…..
Oil Industry Leaders See Tough Times Ahead
By Alex Mills
July 2, 2020
Most oil company leaders, who traditionally are very optimistic, have a pessimistic opinion about the future, according to a recent survey by the Dallas office of the Federal Reserve System. The survey “reveals a very somber and wary mindset by U.S. producers toward the upstream oil and gas (O&G) market.”
The cause of the negative opinions begins with exceptionally low prices for crude oil and natural gas that closed at a negative $37 per barrel for oil on April 20 and natural gas prices went into negative territory on several occasions on the futures market at some locations.
Oil prices have rebounded to a positive $39 on Wednesday. Natural gas price at Henry Hub was $1.671 down from $2.240 a year ago.
However, an oversupply of petroleum products still exist, which is an indication that prices will remain soft.
The Energy Information Administration (EIA) reported a decline of crude oil inventories of 7 million barrels this week to 533 million barrels, which was only the third week inventories have declined in the last 20 weeks. Inventories set a record the previous week at 540 million barrels….
Rosehill To File For Bankruptcy Protection
July 2, 2020
Rosehill Resources and Rosehill Operating Company have entered in a Restructuring Support Agreement with some lenders and are preparing to file Chapter 11 bankruptcy in Texas on or before July 15th, expecting to emerge within 75 days….
Sales Tax Income Down Y/Y, O&G Tax Income Down Even More
July 1, 2020
Sales tax revenue collected in June by the state of Texas was down 6.5% when compared to a year ago, thanks in part to continued drops in oil and gas production taxes….
NM Regulators Have Plans for Closing of San Juan Generating Station
June 30, 2020
New Mexico’s utilities regulator says it’s recommending a plan to partner with New Energy Economy in a renewables plan for power generation resources once Public Service Company of New Mexico (PNM) closes its coal-fired San Juan Generating Station.…
Whistler Pipeline Has New NYC Investment Partner
June 29, 2020
Whitewater Midstream‘s upcoming Whistler Pipeline has a new injection of $325 million as it aims for operations to being next year in Texas….