Additional energy headlines from US and World

** West Texas saw 59 earthquakes in the first three months of 2022, fueling worries that hydraulic fracking has stressed fault lines and is turning America’s oil-drilling capital into its earthquake capital.

** Chevron will produce at least 15% more from the Permian Basin this year compared with 2021, for a total output of about about 725,000 barrels of oil daily, the company said in an investor presentation on Friday. That’s up from the previous plan for a 10% increase in the region.

** Europe’s sudden need for an alternative to Russian energy is sparking a boom in the United States, the world’s second-largest exporter of natural gas that is liquefied and shipped overseas.

** The Energy Department has authorized additional exports of liquefied natural gas, or LNG, from planned terminals in Texas and Louisiana. The orders allow Golden Pass LNG Terminal near Port Arthur, Texas, and Magnolia LNG Terminal in Lake Charles, Louisiana, to export additional natural gas as LNG to any country not prohibited by U.S. law or policy.

** President Joe Biden says Russia’s decision to cutoff natural gas to Poland and Bulgaria proves Moscow is not a dependable energy supplier. He spoke at the White House.

** Citing growing worries about high gasoline prices, Democratic leaders announced an effort to give the Federal Trade Commission increased authority to crack down on companies that engage in price gouging.

** U.S. Natural gas production continues to accelerate. The EIA reports that In 2021, U.S. natural gas production increased by 2% and reached 118.8 billion cubic feet per day monthly in December 2021, the highest on record.

** Dallas-based oil and gas industry veteran Doug Dormer is launching a new midstream venture, Cardinal Midstream Partners, with a $300 million commitment from EnCap Flatrock Midstream.


** German officials said the nation is now prepared to stop buying Russian oil, the Wall Street Journal reported, opening the door for the European Union to impose a fresh set of sanctions on Moscow.

** As EU countries scramble to wean themselves off Russian energy, a trickle of member states have signaled that they are finding alternative sources of oil, coal, or gas, and won’t need to rely on Russia for long.

** German Economy Minister Robert Habeck says the government is preparing to take control of the country’s PCK refinery, operated by Russian state-owned Rosneft, as it scrambles to replace Russian oil to enable an EU-wide ban.

** Exxon Mobil Corp said its Russian unit Exxon Neftegas Ltd has declared force majeure for its Sakhalin-1 operations due to sanctions on Russia that have made it increasingly difficult to ship crude to customers.