Baker Hughes is betting on a slow down in shale drilling in the U-S in the second half of the year. The company suggests that even as prices hit the mid $70 range in recent weeks, there’ll be a slow down because explorers are still hesitant for investments in break-neck drilling operations. Click here …
Category: Oil & Gas
Cheniere agrees to 15-year deal with Canada’s biggest natural gas producer
A subsidiary of Cheniere Energy, Inc. LNG has reached agreement for a long-term gas supply agreement with Tourmaline Oil Marketing Corp., a unit of Tourmaline Oil Corp., Canada’s largest natural gas producer. Cheniere’s subsidiary Corpus Christi Liquefaction Stage III, LLC will receive 140,000 MMBtu a day of natural gas under the agreement reported Zacks …
Crude oil rebounds in Tuesday’s trading–so did Oklahoma energy stocks
After taking a more than $5 a barrel tumble on Monday, crude oil prices in the US managed a weak $1 rebound on Tuesday. As a result, Oklahoma energy stocks brought a sigh of relief to operators and investors. West Texas Intermediate crude oil for August delivery finished one dollar higher at $67.42. Global …
Time change for release of Phillips 66 earnings report
Phillips 66 has changed the time of its conference call to discuss second-quarter earnings. The conference call webcast will now be held at 1 p.m. EDT on Tuesday, Aug. 3, 2021. At that time, the company’s executive management will discuss second-quarter 2021 financial results, which will be released earlier that day, and provide an …
Energy news in brief
** The U.S. Energy Information Administration reported more petroleum and natural gas was produced in the United States than in any other country during 2020 (a trend that began in 2014), despite year-on-year declines from the record-high production in 2019. U.S. petroleum and natural gas output in 2020 totaled 66.9 quadrillion British thermal units (quads), …
Permian Basin midstream operators announce merger
Two oil and gas midstream companies in the Permian Basin recently announced they will combine their resources in southeast New Mexico and West Texas. The deal was revealed by pipeline operator Plains All American and Oryx Midstream. The two say they are forming a new venture called Plains Oryx Permian reported the Carlsbad Current …
Lucas Introduces legislation to advance engineering biology research
Oklahoma Congressman Frank Lucas’s position as the Ranking Member on the House Committee on Science, Space, and Technology is keeping him busy with the introduction of yet another bill—the Bioeconomy Research and Development Act of 2021. He and Democratic Chairwoman Eddie Bernice Johnson of Texas joined efforts to file the legislation to establish a National Engineering …
Delayed completions reveal large wells in Oklahoma’s STACK
Completion reports recently filed with the state show more success by companies including Ovintiv striking again in the STACK along with Citizen Energy III LLC. Reports also show how some companies drilled wells in 2019 and last year but didn’t follow through with completion until this year. Citizen Energy scored at least 2 wells …
Will Halliburton reverse downsizing in Oklahoma?
After closing one command center near El Reno and reducing its workforce at another in Duncan, Oklahoma, Halliburton is reportedly planning to expand its operations in the coming years in the U.S. and in foreign countries. “The positive activity momentum we see in North America and international markets today, combined with our expectations …
Report blames natural gas failures for Texas winter storm outages
A new report that focused on the February winter storm power outages and released by the University of Texas blamed problems mostly on massive natural gas failures. The report was released by the University and the Austin Energy Institute and partially funded by the state’s Public Utilities Commission. The Herald Banner reported the study …