Co-Deputy Directors Join TCEQ: Report
April 2, 2020
The Texas Commission on Environmental Quality (TCEQ) has two new co-deputy executive directors…..
Whiting Files for Chapter 11
April 1, 2020
Denver’s Whiting Petroleum Corp. is the first O&G victim of the current economic crisis…..
Congressional Stimulus Bill Could Help With Dredging Texas Ports
March 30, 2020
The coronavirus stimulus bill passed by Congress and signed by President Trump on March 27th could help with needed dredging of Texas ports…..
Range Resources Reaffirms Borrowing Base
March 31, 2020
Range Resources says it has reaffirmed its $3 billion borrowing base…..
Consumer Energy Advocate “Applauds” Federal Court Decision For Bayou Bridge Pipeline
March 30, 2020
The US District Court for the Middle District of Louisiana has sided with Dallas’ Energy Transfer Partners LP and the federal government is ruling that potential environmental impacts of the Bayou Bridge pipeline in Louisiana were adequately studied, and a consumer energy advocate is applauding the ruling…..
Railroad Commission Adds More Online Mapping Data for Public Viewing: RRC
March 27, 2020
AUSTIN – The Railroad Commission of Texas continues to enhance transparency by adding more data to its Public Geographic Information System (GIS) Map Viewer. The public can now view information on Voluntary Cleanup Program (VCP) and Brownfield Response Program (BRP) sites around Texas – two programs designed to incentivize the remediation and redevelopment of abandoned oil and gas sites…..
New President At Adams Resources Subsidiary
March 31, 2020
Adams Resources & Energy, Inc. has announced a new president for its wholly-owned subsidiary GulfMark Energy Inc.….
Energy Companies Work to Support Communities During Pandemic
March 30, 2020
Vistra Energy is donating $2 million to non-profits and social service agencies, providing direct relief for people with critical needs resulting from the COVID-19 pandemic in the communities it serves…..
Capital One Gets Government Waiver For Derivatives Exposure In Oil and Gas: Report
Threatened exposure to energy swap markets could “hurt the institution’s ability to keep lending”
March 31, 2020
Despite being a relatively small player in funding energy companies, Capital One has been given a waiver from requirements for registering its exposure to energy derivatives markets, according to one report…..
Rick Perry Calls For Temporary Ban On US Refining Of Foreign Oil
US on verge of losing independent operators, which would bring us back to 1974…and Perry suggests Treasury Dept. buy oil futures
March 31, 2020
Former US Energy Secretary Rick Perry says “we’re on the verge of a massive collapse” in the oil and gas industry, and he suggests a 60-to-90-day US moratorium on.refining foreign crude……
Energy Companies Working to Keep Utilities Going
March 31, 2020
Texas energy companies are closely watching their systems as PEC electrical workers continue to maintain operations, for instance, and Atmos Energy balances utility customer needs with the safety of workers during the novel coronavirus pandemic…..
Global Oil Glut Drives Down Price
By Alex Mills
March 26, 2020
The oil industry in the United States once again faces dramatic declines in crude oil prices at the hands of foreign countries seeking to bankrupt high-cost producers to regain global market share.
Domestic crude oil prices have temporarily level around $22 per barrel, which is about half of where it was just 30 days ago.
The cause of the sharp decline is an oversupply of oil created by increases in U.S. production, announcements from Saudi Arabia and Russia that they will increase production, and a decline in demand from the coronavirus.
U.S. oil production last month was 13 million barrels per day (b/d), which is an increase of 1 million b/d over the same period in 2019. Saudi Arabia says it will increase production by 250,000 b/d to 12.3 million b/d, and Russia announced it will add another 300,000 b/d bringing its daily production to 11.5.
On the demand side, there has been an oversupply of oil globally since 2015. When economic activity declined further in January because of the coronavirus, the oversupply became a flood of oil around the globe……
Double Whammy Puts O&G Demand In “Freefall” — IEA
March 26, 2020
The global coronavirus pandemic is the biggest problem for oil and gas today, putting demand in “freefall,” Fatih Birol, head of the International Energy Agency said on Thursday…..
Over 3 Million US Unemployment Claims Last Week, 150,000 In Texas
March 26, 2020
The US saw more than 3 million unemployment applications filed last week according to the US Department of Labor, with Texas applications numbering about 150,000, among the largest one-week counts in history….
Energy Help Hopes Dim As US Senate Stimulus Bill Goes to House
March 26, 2020
The US Senate has sent its $2 trillion emergency stimulus bill to the House, which is expected to pass it on Friday, but O&G and renewables were among those who didn’t get what they might have wanted…..
Texas Companies Among Targets In PA AG Investigations
March 25, 2020
Two Texas O&G-related companies are among those targeted in “more than a dozen” investigations, according to the Pennsylvania attorney general.
….
McDermott Bankruptcy Exit Plan Evolving, Shareholder Barred from Contact
Lummus sale looming
March 25, 2020
Details of the plan for oil services giant McDermott International‘s exit from bankruptcy protection are being finalized after being green-lighted by a Houston judge earlier this month, but that judge has denied the company’s request to sanction a “disgruntled” shareholder……
Emerald Bay’s New Name
March 25, 2020
Southwest Texas oil player Emerald Bay Energy has a new name — Nexera Energy Inc.….
Three Texas Cities Most Vulnerable to Short-Term Coronavirus Economic Shock: Brookings Study
March 25, 2020
While an increasing number of people say the US (and the world) is on the brink of a recession, a Brookings Institution study aimed at identifying the local US economies most vulnerable to immediate, short-term economic distress from the COVID-19 virus identified three Texas cities, and they don’t include Houston, Dallas or Austin…..
Port Houston Monitors COVID-19 Case After Investigation
March 25, 2020
A Port of Houston-related employee is in quarantine at a hospital, but the Port Authority says, after an investigation, that the exposure of the employee to others was fairly limited and those who were exposed are in self-quarantine….