June 8, 2020
While the US EPA says it considered a proposed plan from the TCEQ, it was unable to adopt the Texas proposal because of time constraints, as the EPA worked to complete an air toxins rule on risk values for the chemical ethylene oxide, which is used in the production of ethylene glycol and other chemicals….
March 7, 2020
Whether ERCOT is entitled to the legal immunity granted to government entities is at the heart of a motion that will be heard by the Texas Supreme Court as part of an appeal by the Panda Power Generation Infrastructure Fund….
June 6, 2020
The persistent cliche among all news media outside the state is that Everything’s Bigger In Texas, but the Tax Foundation says that’s not necessarily true when it comes to comparing the state’s Rainy Day Fund, when measured by percentage of overall budget….
June 6, 2020
Amplify Energy Corp. is back in compliance with listing standards at the New York Stock Exchange….
June 5, 2020
A longtime El Paso Corp. leader is a new board member at Summit Midstream GP LLC….
By Alex Mills
June 4, 2020
Natural gas, the nation’s largest source of electricity, has been in a growth mode during the last 40 years.
“Demand for natural gas has been growing more than any other fuel in absolute terms,” Dr. Scott Tinker, director of the Bureau of Economic Geology at the University of Texas at Austin, said in the May issue of the American Oil and Gas Reporter. “Over the past 40 years, gas use has increased more than 500 percent globally. That is a remarkable growth rate.”
Even though overall demand has increased during the last four decades, current demand is declining because of decreased economic activity created by the global pandemic coronavirus.
Bloomberg reported this week the “global gas market remains extraordinarily oversupplied,” and some analysts expect demand to fall further and storage capacity could reach capacity this summer.
The Energy Information Administration reports natural gas deliveries to U.S. facilities producing liquefied natural gas (LNG) for export, called “LNG feedgas”, declined to 5.6 billion cubic feet per day (Bcf/d) on May 24 and averaged 6.7 Bcf/d from May 1-26, according to data by IHS Markit….
June 4, 2020
A new study indicates pregnant women may be at risk of low birth weight infants if they live near active oil and gas wells……
June 4, 2020
The Railroad Commission of Texas issued a total of 251 original drilling permits in May 2020 compared to 1,050 in May 2019….
June 4, 2020
An A&M graduate and public policy pro is RRC Commissioner Christi Craddick‘s new public affairs director.
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June 4, 2020
A memorandum of understanding (MOU) between Houston-based Tellurian Inc. and Petronet LNG Limited for the purchase of LNG and an equity stake in Driftwood Holdings has expired without closing….
June 2, 2020
Railroad Commission of Texas Commissioner Christi Craddick‘s director of public affairs is the new president of the Texas Alliance of Energy Producers….
June 2, 2020
Dallas’ Peregrine Energy Partners says its continuing to find and act on good deals in the natural gas sector, with some new royalty interest purchases in Pennsylvania and West Virginia…..
June 2, 2020
Shut-in oil wells, layoffs, a pandemic and riots in the big cities isn’t keeping Texas from being the best place to be to conduct business, according to executives polled by Chief Executive.com…..
By Alex Mills
June 2, 2020
The decline in the demand for petroleum products worldwide has delivered a severe blow to the oil and gas industry in Texas as companies are forced to reduce expenses as revenues fall through the floor.
The oversupply of oil caused prices to decline from $60 per barrel in January to a low of -$37 on April 20. The unprecedented crash caused most companies to announce they would cut capital expenditures immediately. The U.S. drilling rig count fell to 318 this week from 915 a year ago, and the Texas Workforce Commission reports the industry in Texas cut 26,300 jobs during April, another record.
Companies had to cut oil production quickly, and they did. The Energy Information Administration (EIA) estimates U.S. oil production has declined about 1 million barrels per day (b/d) from a high of 13 million b/d in March.
Rystad Energy predicts U.S. oil production will decline even further reaching 10.7 million b/d this summer…..
June 2, 2020
Adds Denbury Resources, Sunnova Energy — EOG Resources, Genesis Energy, Holly Energy Partners, Marathon Oil, Noble Midstream Partners, Occidental Petroleum, Plains All American, Range Resources, Vistra Energy. Added to: Callon Petroleum, Calpine Corp, Earthstone Energy, El Paso Electric, Enbridge, Energy Transfer, Goodrich Petroleum, Kimbell Royal Partners, Laredo Petroleum, NRG, Rattler Midstream, Ring Energy, Riviera Resources, Saudi Aramco, Spark Energy, Summit Midstream Partners, Talos Energy and Targa Resources, Vaalco Energy, Weatherford International….
June 2, 2020
The National Hurricane Center is advising businesses like oil, gas and electricity providers to watch the Gulf of Mexico closely as we near the weekend now that Tropical Storm Cristobal has formed…..
June 2, 2020
Texas-based HollyFrontier Corp. has plans to turn around a Wyoming refinery, reducing about 75% of its plant workforce along the way…..
June 2, 2020
CenterPoint Energy, Inc. and Energy Capital Partners, LLC have close on the sale of CenterPoint Energy Services (CES).….
June 2, 2020
El Paso Electric Co. has extended its purchase agreement with a division of J.P. Morgan Investment Management Inc. as the two companies await approval from the FERC…..
June 1, 2020
American Electric Power has only to win approval of the Public Utility Commission of Texas to clear all regulatory hurdles to acquire all of the wind generation being constructed in Oklahoma, intended to serve four states including Texas……