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E&P Highlights: Oct. 14, 2024
Here’s a roundup of the latest E&P headlines, including another delay at one of the largest gas fields in the world and two major contracts in West Africa.
Halliburton Leverages Century of Subsurface Experience for Hydrogen
Halliburton’s Nathan Snoke said the company’s 105 years of experience focused on the subsurface enables it to store hydrogen underground and at a lower cost.
KBR Awarded Engineering, Procurement Contract by Shell
KBR said it will provide engineering and procurement services for Shell's onshore portion of Manatee gas field project in Trinidad and Tobago.
First-half 2024's US LNG Exports Rise 3%, DOE Says
U.S. LNG exports rose 3% in the first half of 2024 compared to the same six month period in 2023 and the top 10 countries importing U.S. LNG accounted for 67% of the North American country’s LNG exports in the first half of 2024, according to a recent report from the U.S. DOE.
US Drillers Add Oil, Gas Rigs for First Time in Four Weeks
The oil and gas rig count rose by one to 586 in the week to Oct. 11. Baker Hughes said the total count was still down 36 rigs or 6% from this time last year.
ONEOK’s EnLink/Medallion Deal is Market-wise, Financially Astute
In addition to bolstering its multi-basin network, ONEOK pulled off a $5.9 billion transaction while leaving its credit rating intact.
RBAC: Environmental Pressures Undercutting the Global Gas Network
RBAC founder and energy economist Robert Brooks worries that environmental goals and pressures have taken a front seat at the expense of affordable energy access to countries such as Africa.
Babcock & Wilcox Sell Italian, Swedish Businesses
Babcock & Wilcox Enterprises will focus on core business lines, including coal-to-natural gas conversions in the U.S., the company said.
LNG Sector Under Fire as Activists’ Lawsuits Surge
ESG litigation is increasingly affecting the LNG industry while, more broadly, nearly 70% of climate-related cases are filed in the U.S.
APA Curtails Natgas, NGL Output Amid Low Waha Prices
Apache parent APA Corp. curtailed more natural gas and NGL output than previously anticipated as it realized just $0.15/Mcf in the U.S.