February 4, 2020
A onetime CEO of Houston’s Chimera Energy was sentenced to a year in prison on Tuesday in what prosecutors said was a multi-million-dollar scheme to inflate the price of stock…..
February 4, 2020
A former Senior Vice President of Operations at LNG giant Cheniere Energy is the new president and CEO of Mexico Pacific Limited (MPL).
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February 4, 2020
ONEOK‘s Arbuckle II pipeline from Oklahoma is in the ground through Parker County, west of Fort Worth, providing a line headed toward the Gulf Coast…..
February 4, 2020
Two portfolio companies of Houston-based Quantum Energy Partners are merging to focus on an East Texas pipeline…..
February 4, 2020
A Beaumont law firm claims that Norwegian energy giant Equinor has systematically short-changed Eagle Ford royalty owners…..
February 4, 2020
Falling revenues along with dropping gas prices are causing Cabot Oil & Gas to cut its 2020 capital spending.
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February 1, 2020
Newly-formed Houston upstreamer Eagle Mountain Energy Partners LLC is partnering with another Houston firm and a Dallas investor to find new properties…..
January 31, 2020
Houston’s Phillips 66 Partners says it achieved record earnings of $255 million during the fourth quarter while it completed the startup of the Gray Oak PIpeline…..
January 31, 2020
North Carolina-based Innovative Solar Systems says it’s putting six Texas large-scale solar PV projects up for sale….
January 30, 2020
A grand opening celebration will be announced this spring for a new RRC gas and oil field office in Lubbock…..
January 30, 2020
Texas Pacific Land Trust today announced financial and operating results for the fourth quarter and year ended December 31, 2019.
Results for the fourth quarter of 2019:
January 30, 2020
Oklahoma’s Magellan Midstream Partners L.P. on Thursday reported 4Q 2019 revenues of $740.7 million, below Zacks’ Consensus Estimate of $852.5 million…..
January 30, 2020
Enterprise Products Partners LP‘s net income attributable to limited partners for all of 2019 was $4.6 billion ($2.09 per unit fully diluted), a 9% increase over 2018, the company reported on Thursday, with pipeline delivering record crude, refined products, NGLs and natural gas….
December 30, 2020
A hearing is scheduled for April 9th on a new application filed by ExxonMobil to build a large carbon capture project in Wyoming…..
January 30, 2020
Duke Energy is online with its second commercial solar farm, with a Texas power co-op and its members the recipients….
January 30, 2020
San Antonio’s CPS Energy is joining with Liberty Lake, WA energy resources experts Itron Inc. for a wide community outreach on managing water use….
January 30, 2020
Oil services company Lineal Industries is opening a Houston office…..
By Alex Mills
January 30, 2020
The exploration-and-production (E&P) sector of the U.S. oil and gas industry faces many financial hurdles this year as forecasts of stagnant demand with increasing supplies give the appearance that prices for crude oil and natural gas will be flat.
The Energy Information Administration (EIA) at the Department of Energy reported last week it expects West Texas Intermediate (WTI) crude oil prices will average about $55 throughout 2020. Oil traded on the New York Mercantile Exchange on Wednesday closed at $53.
EIA forecasts that Henry Hub natural gas spot prices will average $2.33 per million British thermal units (MMBtu) in 2020, down from $2.57 in 2019.
The American Oil and Gas Reporter said in its January issue other analysts have similar opinions about oil and natural gas prices. The national trade publication reported these predictions by industry analysts:
The AOGR conducted its own survey in November/December of independent producers and the average response was $55.59.
With these prices the consensus is another declining year for capital expenditures, also called capex. Raymond James projects U.S. capex to decline 15 percent. Drilling budgets will decline 7.1 percent in 2020, and the drilling rig count will drop another 10 percent, according to Evercore, which conducts research about oil field activity…..
January 30, 2020
A US Energy Department release of documents relating to Rick Perry‘s interactions with government officials in Ukraine didn’t turn up much of interest, but the most interesting parts may have been left out…..
January 29, 2020
A number of leaders from Texas were there when President Donald Trump signed the United States-Mexico-Canada Agreement (USMCA) in Washington, D.C. on Wednesday, representing the state as well as energy and agricultural interests.
Governor Greg Abbott released a statement following the ceremonies praising the USMCA for, among other things, bringing new energy partnerships and trade opportunities:……