Devon Energy expects US crude oil to be priced between $60 and $80 per barrel in the near future
The benchmark U.S. WestTex Intermediate (WTI), crude oil, will be $60-$80 a barrel for the foreseeable future. This was what Devon Energy's Chief Executive Officer told attendees of an energy conference held in Dallas on Tuesday. This price forecast falls within the range of U.S. crude…
Analyst says US onshore wind industry is struggling despite government push to clean energy
Geoffrey Hebertson told attendees of an energy conference organized by the Federal Reserve Banks of Dallas & Kansas City that the Onshore Wind Industry is still struggling to attract investment despite the U.S. Inflation Reduction Act. Hebertson stated that despite the Inflation Reduction Act of 2022…
Kansas Fed reports that drilling activity in the US Rockies and Midwest has fallen for the seventh consecutive quarter.
According to survey results released by Federal Reserve Bank of Kansas City on Friday, oil and gas activity in U.S. Midwest Rockies and Midwest declined in the third quarter. This is the seventh consecutive quarterly decline. The survey was conducted in mid-September and covered companies drilling in Kansas as well as Colorado…
Sources say that Citizen Energy, a producer of shale oil and gas, will buy Validus in a deal worth more than $2 billion.
According to sources familiar with the situation, Validus Energy, a privately held oil and natural gas producer, has agreed to purchase Citizen Energy, a rival company, for over $2 billion including debt. The U.S. Shale industry has seen a record wave of consolidation. After the COVID…
Evergy to Add 660MW Wind Energy
US-based utility Evergy has announced plans to add 660MW of wind energy to its portfolio and reduce carbon emissions by 80% below 2005 levels by 2050. The addition will bring the total amount of wind serving Evergy customers to 4,535 megawatts, making Evergy one of the top five wind energy…
Energy Transfer to Buy SemGroup
Oil and gas pipeline company Energy Transfer LP said on Monday it would buy smaller rival SemGroup Corp for $1.35 billion and build a 75-mile oil pipeline to strengthen its oil transportation, terminalling and export operations.Energy Transfer will gain control of SemGroup's crude oil terminal on the Houston Ship Channel, and to connect it with its Nede
FLNG Innovations Boost Gas Industry Growth
Liquefied natural gas (LNG) technologies, such as floating LNG (FLNG) innovations, driven by its shorter construction lead times and lower capital investment costs, are increasingly becoming a viable option for increased gas deployments.FLNG helps mitigate siting constraints that shore-based infrastructure may face…
Lightsource BP Expands US Portfolio
Lightsource BP, Europe's biggest solar energy developer, will expand its U.S. portfolio after signing a deal to build two solar projects, the UK-based company said on Wednesday.The 16 megawatt (MW) Wildflower Solar project will be built in California and has secured a 20 year plus power…
Texas Waha Natgas Prices Dive 60 pct to Record Low on Pipeline Constraints
Next-day natural gas prices for Thursday at the Waha hub in the Permian basin tumbled 60 percent to their lowest on record due to pipeline constraints limiting the amount of gas that can move out of the region.Prices for Thursday at the Waha hub <NG-WAH-WTX-SNL> fell almost a dollar to 66 cents per million British thermal units (mmBtu)…
Oil Prices Fall On U.S. Stock Rise, Higher Supply
Oil benchmark Brent crude hit a three-month low on Wednesday after government data showed a rise in U.S. crude inventories and oil production, which highlighted increasing global supply and concerns over weak demand.Brent crude futures fell 33 cents to $71.83 a barrel by 10:55 a.m. EDT (1455 GMT).
Natgas Pipeline Catches Fire in Kansas
A natural gas pipeline has caught fire southwest of Hesston in Harvey County, Kansas on Friday, a fire department official said.The incident has not resulted in injuries or structural damage, the officer from the Hesston fire department said.It was not immediately clear which company operates the pipeline.Reporting by Eileen Soreng and Arpan Varghese in
Wind Farms Boost Tax Base for Local US Governments
Wind farms have boosted local tax bases and generated new revenue as they expand across the United States, especially for rural areas, Moody's Investors Service said in a report on Monday."What we're seeing is wind farms generate new operating revenues, lower the tax burden for local residents," Moody's analyst Frank Mamo told Reuters.
EPA Announces Funding to Reduce Diesel Emissions
Preference given to fleets in areas facing air quality challenges. The U.S. Environmental Protection Agency (EPA) announced the availability of grant funding to modernize the nation’s diesel fleet by retrofitting or replacing vehicles with cleaner, more efficient diesel engines. EPA anticipates…
Shale Producers Urge FERC to Deny Pipeline's Rate Request
Top shale oil producers asked a U.S. regulator this week to reject White Cliffs pipeline's application to charge market-based rates for shipments from Platteville, Colorado, to the storage hub at Cushing, Oklahoma. U.S. shale producers ConocoPhillips Co, Kerr McGee Oil & Gas Onshore LP…
Midstates Petroleum Seeks Merger with SandRidge Energy
A merger could create $1 bln producer in the Mississippian Lime. Midstates Petroleum Co Inc on Tuesday sought to merge with larger rival SandRidge Energy Inc in a deal that could create the biggest oil producer in the Mississippian Lime shale formation. Both companies have a large presence in the Mississippian Lime…
Refinery Fire Turns Deadly in Kansas
A worker has died due to injuries from a fire at HollyFrontier's El Dorado, Kansas refinery, a local hospital confirmed on Tuesday. A fire was reported at the 150,000 barrel-per-day refinery on Monday and a worker in the immediate area was hurt, the company confirmed via email on Monday. The worker died overnight, according to Via Christi Hospital St.
US Wind Industry Sees Jump in Installs
The U.S. wind industry installed 2,000 megawatts of capacity in the first quarter, nearly four times the amount installed in the same period last year, as developers race to capture a lucrative federal tax credit that is gradually being phased out. It was the industry's biggest first quarter since 2009…
Wind Briefly Sets Record as Source for U.S. Electricity
Wind briefly powered more than 50 percent of electric demand on Sunday, the 14-state Southwest Power Pool (SPP) said, for the first time on any North American power grid. SPP coordinates the flow of electricity on the high voltage power lines from Montana and North Dakota to New Mexico, Texas and Louisiana.
Pemex Imports First U.S. Diesel Cargo via Train
Mexico's state oil company Pemex began receiving imported fuel by train at a new privately run terminal for the first time in January as companies expand storage and transportation operations under the country's energy opening, a senior executive said in an interview. The cargo of just under 60,000 barrels arrived from Port Arthur, Texas, on Jan.
Yellen's Rate Hike Language Boosts Dollar; Deflate Stocks
U.S. equities gave up early gains on Friday, hurt by a surging U.S. dollar after Federal Reserve Chair Janet Yellen said that the case for raising U.S. interest rates has strengthened in recent months. European stocks advanced, however, while oil and Treasury prices came off highs as…
