Latest From Hart Energy
Oil Prices Ease on Strong Dollar, Mixed Global Economic News
Crude prices declined despite signs of improving U.S. oil demand and falling fuel inventories that helped boost crude prices to a seven-week high a day earlier.
Report: Global Energy Demand, Emissions Rise
Data showed global energy consumption increased 2% to a record 620 exajoules (EJ), driven by increases in coal and oil use.
At Last, AI Brings Good News for Gas Producers
Is artificial intelligence humanity’s power-hungry new friend?
Energy Transition in Motion (Week of June 21, 2024)
Here is a look at some of this week’s renewable energy news, including record-setting first quarter energy storage capacity in the U.S.
US Drillers Cut Oil, Gas Rigs to Jan 2022 Low for Third Week
The oil and gas rig count fell by two to 588 in the week to June 21. Baker Hughes said that puts the total rig count down 94, or 14% below this time last year.
DORIS Group Awarded FEED for Zama Development Offshore Mexico
A final investment decision for Zama is forthcoming and first oil production could flow in 2027.
Germany Awards TotalEnergies a 1.5-GW Offshore Wind Lease
TotalEnergies said maritime concession N-11.2 intends to help the company develop a 3.5 GW offshore wind hub in the German North Sea.
Aethon Brings on Fourth Monster Haynesville Wildcat in North Houston
Aethon Energy’s latest well made 2.6 Bcf in its first 3.5 months online. The new play’s first 15 wells to date have made 100.3 Bcf, averaging 21 MMcf/d over a combined 159 months.
Marketed: Anschutz Exploration Powder River Basin Opportunity
Anschutz Exploration Corp. has retained EnergyNet for the sale of a Powder River Basin in the Castle 3568-1324-1TH of Converse County, Wyoming.
Oceaneering Nabs GoM Umbilical Contract Worth $50MM
Offshore services firm Oceaneering secured a large contract with a domestic independent energy customer in the Gulf of Mexico.
EIA Estimates Declined Rates of Flaring, Venting NatGas in 2023
Even as the rates of natural gas venting and flaring fell, according to Energy Information Administration data, another study shows CO2 emissions continued to rise globally.
Trio Co-founder Robin Ross Rejoins Company as Chairman, Board Director
Robin Ross became chairman of Trio Petroleum Corp.’s board of directors on June 17.
North American Lithium Site to Likely Up Mineral Estimates
Piedmont Lithium and Sayona Mining’s North American Lithium site, located in Quebec, Canada, is the largest lithium operation in North America.
Hirs: How the Cost of Carbon Avoidance Bolsters Nuclear Power
States and the EU have introduced nascent carbon pricing schemes with taxes, tax benefits and offsets. It isn’t unreasonable to assume that carbon pricing will become increasingly tangible.
From South Texas to the World: International E&Ps Drill Deep in the Eagle Ford
While U.S. E&Ps squabble for pieces of the Permian Basin, international energy giants are all-in on the Eagle Ford Shale in South Texas.
Equinor Expands CCS Network with North Sea Licenses
Equinor received two new CO2 storage licenses and a permit to explore a carbon capture facility in Denmark.
Pemex’s Dos Bocas Refinery to Reduce Mexico’s Reliance on US Fuel
Mexico will significantly reduce its dependence on fuel from the U.S. in 2025 once state-owned Pemex concludes construction of its 340,000 bbl/d Olmeca refinery in Dos Bocas, according to the International Energy Agency.
BP to Buy Out Bunge’s Stake in Brazilian Biofuels JV
BP’s acquisition of Bunge’s stake in BP Bunge Bionergia is expected to close by year-end 2024, pending regulatory approvals.
Trans Mountain Revises Heavy Crude Standards on Pipeline After Quality Concerns
Canadian government-owned oil pipeline operator Trans Mountain last week revised standards for accepting crude oil on its recently expanded system after buyers raised concerns about the crude oil arriving on the line, a regulatory filing showed.
TGS to License Tanzania’s Offshore Subsurface Data
TGS, in an agreement with Tanzania’s Petroleum Upstream Regulatory Authority, reserves the right to license all of the country’s offshore data, acquire future seismic data and reprocess existing data.
Costly Consequences as E&Ps Navigate Methane Mitigation
Oil and gas companies are adjusting to an evolving emissions reduction landscape as state and federal regulators target methane emissions.
Franklin Mountain Co-founder Paul Foster Steps Down as ERCOT Board Chair
Energy executive Paul Foster, who co-founded Permian E&P Franklin Mountain Energy in 2018, is stepping down as board chairman of the Electric Reliability Council of Texas (ERCOT).
CORMETECH, Ozona to Develop Flue Gas CCUS System
CORMETECH and Ozona CCS’ system includes integrated nitrogen oxide reduction and aims to capture, transport and sequester CO2 from flue gas, which is generated from natural-gas powered engines.
Norway’s DNO Discovers Gas Condensate in North Sea’s Cuvette
Cuvette is the second well in DNO’s 2024 North Sea exploration program.
QatarEnergy, Exxon Seek to Remove Contractor from Texas Gas Project
Golden Pass LNG, a joint venture between QatarEnergy and Exxon Mobil, asked a U.S. bankruptcy court late on Tuesday to sever Zachry Industrial's $5.8-billion contract within five days, or allow it to take possession and control of the facility, which is about 75% complete.
Coterra Energy’s 54-well Wolfcamp-Harkey Test
The operator plans to experiment where it has Harkey Mills sandstone in the Delaware Basin by landing three wells in it while making 51 Wolfcamp wells.
Pinnacle West Declares Quarterly Dividend
Pinnacle West Capital Corp.’s dividend is payable on Sept. 3 to shareholders of record as of the close of business on Aug. 1.
Private E&P Point Energy Triples Delaware Basin Production to 15,000 bbl/d
Point Energy Partners has since brought on an additional 15 wells and has 12 more coming online later this year in Ward County, Texas, while its leasehold in northern Loving County is tied up in a dispute with Matador Resources.
ABTC Manufactures Lithium Hydroxide from US Facility
Lithium hydroxide is an ingredient in the cathode of lithium-ion batteries, which are used to power electric vehicles, electronics and other devices.
Ali Azad joins Quaise Energy as Independent Board Director
Azad has more than 40 years of experience in executive leadership and high-tech power project deployments.