Facts & Rumors # 575
November 16, 2024
O&G Industry Trump Wish List. U.S. energy draws up a wish list for new Trump administration. Reuters. With U.S. President-elect Donald Trump two months away from taking office and able to act on his campaign promises, energy executives are lining up to offer new proposals to the mix. Trump has vowed to scrap offshore wind projects, roll back climate regulations, open more federal lands and waters to oil and gas drilling. Advisors have prepared executive orders to quit the Paris climate agreement that ties the U.S. to emissions reductions. The energy industry has prepared its own wish list for the second-term chief to consider putting into effect.
Williams Bullish on Appalachian Basin Projects. Thanks, MDN. Williams delivered its third quarter update last week. The company is working overtime to expand its extensive network of natural gas pipelines. Quick fact: Did you know that Williams’ pipeline network handles about one-third of U.S. natural gas? Massive! And it’s only going to grow, according to CEO Alan Armstrong, who said: “Not only do we have a clear line of sight to a full roster of projects that are in execution, but we continue to commercialize vital high return projects across our footprint.” Much of the expansion will come in the Marcellus/Utica region and regions adjacent to ours fed by our molecules.
“The Great Deregulator” Meet the ‘great deregulator’ Trump chose to lead EPA. E&E News. A Trump ally with a limited environmental record will have the task of undoing President Joe Biden’s climate legacy. Former President Trump announced Monday that he had chosen former Rep. Lee Zeldin (R-N.Y.) to head EPA in his second term. In doing so, Trump opted for a personal ally, fierce defender and frequent visitor to Mar-a-Lago over a policy wonk with deep knowledge of regulatory policy. Industry advocates and conservatives applauded the choice, arguing that Zeldin is a seasoned political operator capable both of leading Trump’s “energy dominance” agenda and of selling it to the American public.
Coterra Does Permian Deal. Coterra Energy expands Permian presence with two deals worth $3.95 bln. Reuters. Coterra Energy said on Wednesday it would buy assets from privately held Avant Natural Resources and Franklin Mountain Energy for a combined $3.95 billion in two separate deals, as the U.S. oil and gas producer aims to expand in the prolific Permian Basin. U.S. energy companies have flocked to the Permian to increase their inventory. Lying between Texas and New Mexico, the basin’s shale oil output is highly productive, with large undeveloped reserves and robust infrastructure. Coterra’s New Mexico and Permian net locations will increase by about 75% and 25%, respectively, the company said, after the completion of the deals.
Possible Trump Pick to Lead DOE. Trump weighs ‘fearless’ fracking advocate for top energy post. E&E News. In his quest to achieve “energy dominance,” President-elect Donald Trump could elevate a strident fossil fuel evangelist to a top energy job in his new administration. Chris Wright, a Trump donor and CEO of Denver-based fracking technology company Liberty Energy, is a candidate to lead the Department of Energy or act as “energy czar” once Trump takes office in January.
EIA Raises U.S. Oil Production. EIA slightly raises US, global oil production forecasts. Reuters. Both U.S. and global oil production are set to rise to slightly larger record highs this year than prior forecasts, the U.S. Energy Information Administration said on Wednesday. A surge in oil supply has run into weakening demand growth this year, dragging oil prices to their lowest since 2021 despite large production cuts from the Organization of the Petroleum Exporting Countries and its allies in OPEC+.
Bright Future for NatGas. Spotlight shines on natural gas as power demand surges. E&E News. Predictions of unprecedented electricity demand growth in the coming years — much of it from a single class of customer: data centers — dominated talks at the annual meeting of utility regulators here this week. Almost as prevalent was agreement that natural gas will play an increasingly important role in meeting that new demand.
EOG Going to Two Rigs in OH. EOG greenlights second rig to Ohio Utica oil wildcatting. Hart Energy. EOG Resources has greenlit its Utica oil wildcatting in eastern Ohio to two rigs and one full-time frac spread as finding and development (F&D) costs fall to between $6/boe and $8/boe. The E&P brought nine more Utica wells on in third-quarter 2024, taking its new-drill dataset in the play to 25 wells to accompany vertical and horizontal control from past drillers’ well logs.
Japan Looking to Invest in U.S. O&G. Japex looks to invest in U.S. tight oil project as operator. Reuters. Japan Petroleum Exploration (Japex) is looking to invest in the U.S. tight oil and gas sector, with the aim of becoming an operator, an executive said on Wednesday. “We are exploring investment opportunities in the U.S. tight oil and gas sectors, where we are seeking operatorship,” Yutaka Nishimura, Japex’s executive officer, told a news conference. “We have some projects under consideration, but there is nothing specific we can announce at this time,” he said.
EPA to Try “Methane Fee.” EPA to hit oil and gas companies with “methane fee” for drilling waste — but will it last? CBS News. Oil and gas companies for the first time will have to pay a federal fee if they emit dangerous methane above certain levels under a rule being made final by the Biden administration. The EPA rule follows through on a directive from Congress included in the 2022 climate law. The new fee is intended to encourage industry to adopt best practices that reduce emissions of methane and thereby avoid paying. Advocates say reduction of methane emissions is a crucial way to slow climate change. Trump is likely to target the methane fee amid a flurry of expected actions he has promised to deregulate the oil and gas industry. Also covered by the Washington Post.
TX to Boost LNG to Europe. Texas oil and gas industry could get a boost from additional LNG exports to European Union. CBS News. The EU Ambassador to the United States said Texas could get a boost from increased exports of LNG to Europe. In an exclusive interview Friday, Ambassador Jovita Neliupsiene said the potential additional exports come as the EU continues to phase out buying oil and gas from Russia. “What Europe is right now experiencing at the moment is huge pressure because of not only the energy prices but because of the weaponization of energy,” said Neliupsiene. “After Russia invaded Ukraine, there was a joint decision by 27 member states to phase out of Russian gas and oil.” Neliupsiene said the EU has been buying $65 billion worth of LNG a year from the U.S., including Texas—a 70% increase from what it used to be.
TX Oil Regulator Has 83+ Million Records Online. Texas oil regulator now has more than 83 million records online. Oil Price. In a statement posted on its website recently, the Texas Railroad Commission (RRC) said it now has 83.4 million oil and gas records that can be searched and viewed online from anywhere in the world. The RRC revealed in the statement that more than 15 million records were digitized in the past year alone.
Last SPR Purchase. Exclusive: Biden administration buys last oil for emergency reserve as fund taps out. Reuters. The Biden administration said on Friday it has bought its last batch of oil for the Strategic Petroleum Reserve after selling a record amount from the facility in 2022 to counter fuel prices that had risen after Russia’s invasion of Ukraine. The Department of Energy said it had bought 2.4 million barrels of oil for the reserve for delivery from April through May to the SPR’s Bryan Mound, Texas site.
PA Permits October 28, to November 14, 2024
County Township E&P Companies
1. Armstrong South Buffalo Snyder Bros.
2. Beaver Economy Boro PennEnergy
3. Beaver Economy Boro PennEnergy
4. Beaver Economy Boro PennEnergy
5. Bradford Wyalusing Chesapeake
6. Bradford Wyalusing Chesapeake
7. Greene Jefferson EQT
8. Greene Springhill EQT
9. Susquehanna First Lake Coterra
10. Susquehanna First Lake Coterra
11. Susquehanna First Lake Coterra
12. Susquehanna First Lake Coterra
13. Washington Amwell Range
14. Washington Cecil Range
15. Washington Cecil Range
16. Washington Cecil Range
17. Washington Cecil Range
18. Washington Cecil Range
OH November 3, to November 9, 2024
County Township E&P Companies
1. Belmont Richland Rice
2. Belmont Richland Rice
3. Belmont Richland Rice
4. Belmont Warren Ascent
5. Belmont Warren Ascent
6. Belmont Warren Ascent
7. Belmont Warren Ascent
8. Monroe Sunsbury SWN
9. Monroe Sunsbury SWN
10. Tuscarawas Rush EAP OHIO
11. Tuscarawas Rush EAP OHIO
12. Tuscarawas Rush EAP Oh
WV Permits October 28, to November 8, 2024
1. Lewis HG Energy
2. Lewis HG Energy
3. Lewis HG Energy
4. Lewis HG Energy
5. Lewis HG Energy
6. Lewis HG Energy
7. Marion EQT
8. Ohio SWN
9. Ohio SWN
10. Tyler Antero
11. Tyler Antero
12. Tyler Antero
13. Tyler Antero
14. Tyler Antero
15. Tyler Antero
16. Tyler Antero
