Trump lifts the freeze on LNG export permits
The U.S. President Donald Trump ordered on Monday that the U.S. resume processing applications for export permits for new liquefied gas (LNG). This is part of his effort to increase U.S. energy production and to dismantle climate policies from his predecessor. The Republican executive order was expected and reverses the pause that Joe Biden, former president, had put in place for permits to be issued for new projects in early 2024. Biden, a Democrat from the United States, halted the approvals to allow U.S. National Laboratories to study the economic and environmental effects of the booming industry. The United States will be the largest LNG exporter in the world by 2023.
The demand for US natgas is expected to reach a record high on Tuesday
The U.S. demand for natural gas is expected to hit a record on Tuesday as the extreme cold that has affected much of America puts pressure on power grids, and certain oil and gas operations. Last week, the February natural gas contract reached its highest price since December 30, 2022. The cold weather that accompanied the weekend had the potential to reduce output due to the freezing of gas wells and pipelines. However, it also increased the use of fuel for heating homes and businesses. Prices rose in several hubs on the spot market with the U.S. Henry H Hub benchmark. In Louisiana, the price per MMBtu has more than doubled since Friday. It now stands at $9.86.
Trump's nominee for Interior Department says that boosting energy is key to US security
Doug Burgum, Donald Trump's nominee to lead the Interior Department said on Thursday that he would vigorously pursue President-elect Trump's goals to maximize energy production from U.S. Public Lands and Waters, calling it a key to national security. Burgum's remarks to lawmakers at his nomination hearing indicate a sharp change in policy. For years, President Joe Biden tried to limit oil-and-gas drilling by reducing federal leasing auctions and prohibiting future development in certain offshore waters in order to combat climate change. "America produces cleaner…
Trump's nominee for Interior supports drilling on federal land
Doug Burgum, the nominee for Secretary of Interior by Donald Trump, will tell Congress during his nomination hearing Thursday that he is committed to maximizing energy production on America's public land and waters. He will call this a key element of national security. The comments are a sign of a policy shift that is about to occur. President Joe Biden tried for years to limit oil and gas drilling in federal waters by reducing federal auctions and prohibiting future development. This was part of his strategy to combat climate change. "Today, America is producing energy cleaner…
Kinder Morgan will purchase a natgas gathering systems for $640 million
Kinder Morgan, a pipeline operator, said that its Hiland Partners unit has agreed to purchase a natural-gas gathering and processing system from Outrigger Energy II LLC in North Dakota for $640m. As U.S. oil production has increased, the oil and gas sector has seen a consolidation of operators. Persistent problems with permits for new pipelines also have made existing operators valuable. Kinder Morgan purchased NextEra Energy’s South Texas gas pipelines for $1.82 billion in 2023. Kinder Morgan's North Dakota purchase includes a processing facility capable of 270 million cubic foot per day (mmcfd)…
Next week, a US Senate panel will hold hearings about Trump's energy choices
Mike Lee, chairman of the Senate Energy Committee, announced on Thursday that nomination hearings will be held for Donald Trump's nominees to energy positions on Tuesday and/or Wednesday next week. On Tuesday, January 14th at 10:00 a.m. (14:00 GMT), the committee will hear Doug Burgum's nomination to be Secretary of Interior. Burgum served as the governor of North Dakota until last month, an oil-producing state. Burgum will also be expected to lead a National Energy Council that coordinates policies to increase U.S. production of energy. A day later, at the same time, the committee will conduct an hearing for Chris Wright. He is the nominee for Energy Secretary.
Next week, a US Senate panel will hold hearings about Trump's energy choices
Chairman of the U.S. Senate Energy Committee, Michael McCormack, announced on Thursday that nomination hearings will be held for Donald Trump's nominees to energy positions on Tuesday and/or Wednesday next week. On Tuesday, January 14th at 10:00 a.m. (14:00 GMT), the committee will hear Doug Burgum's nomination to be Secretary of Interior. Burgum served as the governor of North Dakota until last month, an oil-producing state. Burgum will also be expected to lead a National Energy Council that coordinates policies to increase U.S. production of energy. A day later, at the same time, the committee will conduct an hearing for Chris Wright. He is the nominee for Energy Secretary.
Sources say that Northern Oil and Gas is in the process of acquiring Granite Ridge, a smaller rival.
According to sources familiar with the situation, Northern Oil and Gas made a purchase offer for Granite Ridge Resources. Granite Ridge Resources is a small U.S. oil and gas producer that operates in the Permian and Eagle Ford basins. Sources said that Northern, based in Minneapolis, Minnesota, has made at least two bids for Granite Ridge. The latest offer, which was made within the last few weeks, came at roughly a 20% premium over the target's stock price. Sources said that while Granite Ridge management has rejected the overtures to date, Northern is still interested in the deal and may sweeten it next year. The discussions are confidential, so they asked for anonymity.
AI's hunger for energy fuels geothermal startup but rivalry over natgas clouds the future
The number of geothermal energy startups is on the rise, as Big Tech companies look to power their AI data centers with natural gas. However, long-term investment remains uncertain because oil majors are doubling down on natural gases. Meta and Alphabet’s Google are two of the tech companies that have partnered with startups to create geothermal energy to power their data centres. The energy demands of artificial intelligence are being met by large datacenter operators, who are also accelerating the adoption of a variety of clean technologies. Trey Lowe is the chief technology officer of Devon Energy in the United States…
North Dakota oil plants slow to return online after wildfires in October
The state's Industrial Commission reported on Wednesday that oil operators in North Dakota are still working to bring some of their facilities online after wildfires in October swept through counties with significant oil production. According to Justin Kringstad of the North Dakota Pipeline Authority, the outages were limited to isolated production sites such as well pads that experienced local equipment damage, or a loss in electricity due to damaged electrical lines. Mark Bohrer is the assistant director of North Dakota Department of Mineral Resources' oil and gas division.
North Dakota oil operators are still bringing back some facilities online after wildfires in October
The state's Industrial Commission reported on Wednesday that oil operators in North Dakota are still working to bring some of their facilities online after wildfires in October ravaged key oil-producing counties. Mark Bohrer is the assistant director of North Dakota Department of Mineral Resources' oil and gas division. He said that the October production in the state was down by 520,000 bbls. This was primarily due to operators closing in wells in order to prevent damage from wildfires. Bohrer said that the (drop in production) number is significant.
Trump selects Burgum as Interior Secretary
Donald Trump, the president-elect, announced on Thursday that North Dakota governor Doug Burgum will be his choice for Interior Secretary. Burgum is a former wealthy software executive. Trump, dressed in a tuxedo, said that the Department of Interior would be headed by him. He added that an announcement would be made on Friday. Burgum has presented himself as a conservative businessman who is traditional. He was a candidate for the Republican nomination for president before quitting. Now he is a Trump loyalist, attending fundraisers and promoting Trump on TV.
ND Governor Burgum on Trump's Energy Shortlist
President-elect Donald Trump is considering North Dakota Governor Doug Burgum to be his new "energy tsar", the Financial Times reported on Friday.Burgum is Trump's preferred candidate for the role, the newspaper reported citing people familiar with the discussions, adding that former energy secretary Dan Brouillette is also a contender.The new energy tsar role and its powers are not yet finalized, the FT reported.
Who would be the best person to run Trump's energy policy?
Donald Trump, the president-elect of the United States, has pledged to overhaul U.S. Energy Policy. He aims to maximize oil and gas production in this country which is already at record levels by rolling back regulations and accelerating permits. Who will he select to lead the departments and agencies that are critical to completing this task? These are some names that have been considered. Two sources with knowledge of the matter say that Trump's second Energy secretary Dan Brouillette, and North Dakota Governor Doug Burgum, are both candidates to lead the U.S. Department of Energy during the next administration.
US energy deals fall to $12 billion in Q3 after a year-long frenzy
Enverus, a leading analytics firm, said that U.S. oil deals slowed dramatically in the last quarter as a result of fewer firms being offered and a consolidation wave lasting ten months. Andrew Dittmar, principal analyst at Enverus Intelligence research, reported that the quarter ending Sept. 30 saw the lowest number of deals in six quarters. After 2023, when $192 billion was spent on deals in West Texas and New Mexico's Permian Basin, the biggest shale formation in the U.S. He added that these mega deals are causing acquirers to review their portfolios in order to eliminate unwanted assets. He said that some of the largest buyers are now sellers, as they trim their holdings.
Exxon is looking for buyers of Bakken Shale assets in North Dakota
Exxon Mobil Corp, a major U.S. oil company, plans to sell some of its assets within North Dakota's Bakken Shale Formation. The company announced this on Tuesday. Oil producers are re-evaluating their portfolios after a wave megamergers occurred in the U.S. Shale Patches. They want to determine which assets will remain central to their strategy, and which ones they should divest. In response to questions, a spokesperson for the company said: "ExxonMobil explores market interest for selected assets in North Dakota's Bakken Shale Play. This includes approximately 137 wells that are operated and 676 wells that are non-operated or royalty wells spread across 49,000 acres".
Maguire: Slow rollout of charge points could stall US EV sales momentum
The United States has seen a 140% increase in electric vehicle sales since 2023. However, further growth could be hindered if public charging stations are not rolled out more evenly and at a slower pace. According to the Alternative Fuels Data Center, U.S. electric vehicle registrations will reach just over 3.5 millions by September 2024. This is up from 1.4m registrations in 2023 and represents the steepest growth rate ever in EV adoption in the country. AFDC data show that the number of public EV chargers has increased by just 22% in the same time period to 176 032 units.
Maguire: Slow rollout of charge points could stall US EV sales momentum
The United States has seen a 140% increase in electric vehicle sales since 2023. However, further growth could be hindered if public charging stations are not rolled out more evenly and at a slower pace. According to the Alternative Fuels Data Center, U.S. electric vehicle registrations will reach just over 3.5 millions by September 2024. This is up from 1.4m registrations in 2023 and represents the steepest growth rate ever in EV adoption in the country. AFDC data show that the number of public EV chargers has increased by just 22% in the same time period to 176 032 units.
MARA, a cryptominer, taps the power generated by U.S. Shale Patch in a new pilot program
MARA Holdings Inc. has announced that it is now producing electricity in the U.S. Shale Patch as part of a program pilot to power 25 megawatts for its mining operations using excess natural gas. The company said that the move was made in response to the intensifying competition between Big Tech AI data centers for electricity, which has caused the crypto industry to change its business strategy and either market AI or find a way around the power battle. Fred Thiel, Chief Executive Officer of MARA, said: "The AI guys will pay any price to meet their energy demand.
Rystad reports that US oil and gas M&A will reach a record in 2023, with the focus shifting away from Permian.
Analysts at Rystad, a consultancy, said that the appetite of U.S. producers for deals is close to last year's level, as a rise in interest in smaller oilfields offsets sluggish activity in the Permian Basin, which produces most oil. According to Rystad's analysis of the U.S. market through August, nearly $100 billion was spent on mergers and purchases (M&As) by U.S. producers. Another $46 billion worth of assets is currently up for sale. Rystad says that a record-breaking $155 billion in production and exploration deals were signed by 2023. The industry saw a flurry of consolidation last year…
