Latest From Hart Energy
The JF Petroleum Group Acquires General Contractor GE Goodson Service
Following the transaction, GE Goodson will operate as The JF Petroleum Group’s Midland branch on a go-forward basis.
US Says it Will Not Renew Easing of Venezuela Oil Sanctions Unless Progress Made on Elections
The Biden administration holds out little hope that Maduro will make enough concessions before the April 18 deadline to satisfy U.S. demands.
AVEVA: Immersive Tech, Augmented Reality and What’s New in the Cloud
Rob McGreevy, AVEVA’s chief product officer, talks about technology advancements that give employees on the job training without any of the risks.
New BOEM Regulations Raise Industry Decommissioning Obligations by $6.9B
Under new regulations, the Bureau of Ocean Energy Management estimates the oil and gas industry will be required to provide an additional $6.9 billion in new financial assurances to cover industry decommissioning costs.
What's Affecting Oil Prices This Week? (April 15, 2024)
While concerns about the stability of oil supply are increasing, Stratas Advisors does not expect oil supply to be disrupted – unless there is further escalation in the Middle East.
Mexico Pacific Appoints New CEO Bairstow
Sarah Bairstow joined Mexico Pacific Ltd. in 2019 and is assuming the CEO role following Ivan Van der Walt’s resignation.
Trio Petroleum to Increase Monterey County Oil Production
Trio Petroleum’s HH-1 well in McCool Ranch and the HV-3A well in the Presidents Field collectively produce about 75 bbl/d.
Fire Closes Atlas Energy’s Kermit, Texas Mining Facility
Atlas Energy Solutions said no injuries were reported and the closing of the mine would not affect services to the company’s Permian Basin customers.
Trillion Energy Begins SASB Revitalization Project
Trillion Energy reported 49 m of new gas pay will be perforated in four wells.
Global Partners Declares Cash Distribution for Series B Preferred Units
Global Partners LP announced a quarterly cash dividend on its 9.5% fixed-rate Series B preferred units
US NatGas Futures Hit Over 2-week Low on Lower Demand View
U.S. natural gas futures fell about 2% to a more than two-week low on April 15, weighed down by lower demand forecasts for this week than previously expected.
EQT, Equinor Agree to Massive Appalachia Acreage Swap
Equinor will part with its operated assets in the Marcellus and Utica Shale and pay $500 million to EQT in exchange for 40% of EQT’s non-operated assets in the Northern Marcellus Shale.
Exxon Ups Mammoth Offshore Guyana Production by Another 100,000 bbl/d
Exxon Mobil, which took a final investment decision on its Whiptail development on April 12, now estimates its six offshore Guyana projects will average gross production of 1.3 MMbbl/d by 2027.
Exclusive: Tenaris’ Zanotti: Pipes are a ‘Matter of National Security’
COVID-19 showed the world that long supply chains are not reliable, and that if oil is a matter of U.S. national security, then in turn, so is pipe, said Luca Zanotti, U.S. president for steel pipe manufacturer Tenaris at CERAWeek by S&P Global.
Marketed: Foundation Energy 162 Well Package in Permian Basin
Foundation Energy Fund V-A has retained EnergyNet for the sale of a 162 Permian Basin opportunity well package in Eddy and Lea counties, New Mexico and Howard County, Texas.
W&T Offshore Adds John D. Buchanan to Board
W&T Offshore’s appointment of John D. Buchanan brings the number of company directors to six.
How Diversified Already Surpassed its 2030 Emissions Goals
Through Diversified Energy’s “aggressive” voluntary leak detection and repair program, the company has already hit its 2030 emission goal and is en route to 2040 targets, the company says.
Targa Resources Ups Quarterly Dividend by 50% YoY
Targa Resource’s board of directors increased the first-quarter 2024 dividend by 50% compared to the same quarter a year ago.
Lift-off: How AI is Boosting Field and Employee Productivity
From data extraction to well optimization, the oil and gas industry embraces AI.
Energy Transition in Motion (Week of April 12, 2024)
Here is a look at some of this week’s renewable energy news, including a renewable energy milestone for the U.S.
Canada’s First FLNG Project Gets Underway
Black & Veatch and Samsung Heavy Industries have been given notice to proceed with a floating LNG facility near Kitimat, British Columbia, Canada.
US Drillers Cut Oil, Gas Rigs for Fourth Week in a Row-Baker Hughes
The oil and gas rig count, an early indicator of future output, fell by three to 617 in the week to April 12, the lowest since November.
Texas Earthquake Could Further Restrict Oil Companies' Saltwater Disposal Options
The quake was the largest yet in the Stanton Seismic Response Area in the Permian Basin, where regulators were already monitoring seismic activity linked to disposal of saltwater, a natural byproduct of oil and gas production.
BKV CEO: Texas Grid Needs More Combined Cycle NatGas Plants
BKV CEO Chris Kalnin dives into the "core issue" of Texas' renewable grid and how the company is increasing production as the the largest producer in the Barnett Shale, in this Hart Energy Exclusive interview.
73-year Wildcatter Herbert Hunt, 95, Passes Away
Industry leader Herbert Hunt was instrumental in dual-lateral development, opening the North Sea to oil and gas development and discovering Libya’s Sarir Field.
US Finalizes Big Reforms to Federal Oil, Gas Drilling
Under the new policy, drilling is limited in wildlife and cultural areas and oil and gas companies will pay higher bonding rates to cover the cost of plugging abandoned oil and gas wells, among other higher rates and costs.
Subsea7 Awarded Sizable Contract in GoM
Subsea7 will install a flowline for Talos’ Sunspear development in the Gulf of Mexico.
Asia Spot LNG at 3-month Peak on Steady Demand, Supply Disruption
Heating demand in Europe and production disruption at the Freeport LNG terminal in the U.S. pushed up prices, said Samuel Good, head of LNG pricing at commodity pricing agency Argus.
Exxon Mobil Green-lights $12.7B Whiptail Project Offshore Guyana
Exxon Mobil’s sixth development in the Stabroek Block will add 250,000 bbl/d capacity when it starts production in 2027.
The Jones Act: An Old Law on a Voyage to Nowhere
Keeping up with the Jones Act is a burden for the energy industry, but efforts to repeal the 104-year-old law may be dead in the water.