- Joe Barone, Shale Directories
- Blog
- March 27, 2020
Petrobras cuts production by 3%, slash investments
Brazilian state-run oil company Petrobras said on Thursday it reducing production by 100,000 barrels per day by month-end in a response to the oil price shock and the impacts of Covid-19.- Joe Barone, Shale Directories
- Blog
- March 27, 2020
Court backs ACE review of Bayou Bridge Pipeline
A federal judge in Louisiana has ruled that the environmental review of the Bayou Bridge Pipeline by the U.S. Army Corps of Engineers (ACE) was sufficient, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- March 26, 2020
Eni announces 2020-2021 plan revision
Italy’s oil major Eni said Wednesday it has concluded a revision of planned activities and will slash its 2020 capex by 25%, with deeper reductions the following year, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- March 26, 2020
Sinopec Oilfield Service lifts 2020 capex by 18%
China’s Sinopec Oilfield Service Corporation (SSC) said on Tuesday it will increase its capex this year by 18.4% year-on-year, despite the current market outlook, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- March 26, 2020
South Dakota toughens up on pipeline rioters
South Dakota Gov. Kristi Noem has signed legislation to toughen the state’s riot laws with criminal and civil penalties for those who urge rioting against pipeline projects, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- March 25, 2020
Market conditions threaten US petchem projects
The U.S. and global chemical investment wave is set to slow “considerably” in the coming years, as companies slash their capex to preserve cash, ICIS said this week.- Joe Barone, Shale Directories
- Blog
- March 24, 2020
Covid-19 highlights key role of electricity, clean energy: IEA
The coronavirus crisis is causing havoc across the globe and has highlighted how much modern societies rely on electricity, the International Energy Agency (IEA) said on Monday.- Joe Barone, Shale Directories
- Blog
- March 24, 2020
North Sea can survive the price rout: WoodMac
The North Sea can survive the ongoing storm in the oil and gas industry in the short-term, principal analyst at Wood Mackenzie Neivan Boroujerdi said on Monday.- Joe Barone, Shale Directories
- Blog
- March 24, 2020
Aker BP puts projects on hold, cuts capex by 20%
Norwegian-focused oil and gas producer Aker BP said Monday it will put non-sanctioned field development projects on hold as part of its updated investment program and financial framework.- Joe Barone, Shale Directories
- Blog
- March 24, 2020
Total sets immediate action plan for current market
French oil major Total on Monday joined peers Shell and Equinor on announcing immediate action to cope in a “three-crises” environment, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- March 23, 2020
Fitch cuts 2020 Brent price forecast by $21.50/Bbl 📉
Fitch Ratings revised down its short- and medium-term forecasts for crude oil prices, as the market is expected to be “massively oversupplied” in 2020, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- March 23, 2020
Global gas flaring reaches 4.6 Tcf in 2019: GlobalData
Oil and gas producers have flared over 4.6 trillion cubic feet (Tcf) of natural gas globally in 2019, foregoing as much as $24 billion in revenues, Kallanish Energy learns.- Joe Barone, Shale Directories
- Blog
- March 20, 2020
Struggling Gulfport Energy seeks restructuring help
Gulfport Energy, a major natural gas producer in the Appalachian Basin, has hired an investment bank as a debt restructuring adviser, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- March 20, 2020
Wintershall Dea’s production up 9%, costs down 20%
German independent gas and oil producer Wintershall Dea reported this week a 9% increase on its output in 2019 and a 20% reduction on its production costs, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- March 20, 2020
Eni plans ‘strong’ cut to capex, cancels share buyback
Italian oil major Eni said on Wednesday it has cancelled its share buyback program, lowered its forecast for Brent crude and is revising its spending plans, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- March 20, 2020
EPA finalizes settlement on Wyoming oil spills
The U.S. Environmental Protection Agency (EPA) has announced a proposed settlement with Citation Oil & Gas Corp. for spills in 2016 and 2019 in Wyoming, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- March 20, 2020
ConocoPhillips to cut 2020 capex by $750 million
ConocoPhillips has announced it’s cutting its operational capital expenditure by $700 million this year in response to the recent oil market downturn, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- March 19, 2020
EOG Resources cuts $2 billion or 31% from capex budget
Texas-based EOG Resources is cutting its 2020 capital spending by $2 billion or 31%, in the wake of the spreading coronavirus and the crude oil price war between Saudi Arabia and Russia that is impacting U.S.- Joe Barone, Shale Directories
- Blog
- March 18, 2020
Equinor sets unit to deal with Covid-19, oil prices challenge
Norwegian oil major Equinor announced Tuesday it’s setting up a temporary corporate project to handle both short- and long-term issues raising from the coronavirus pandemic and low oil prices environment.- Joe Barone, Shale Directories
- Blog
- March 17, 2020
Crude oil prices plummet on growing surplus
Crude oil prices plummeted on Monday as the coronavirus’ fast spread around the world is killing global oil demand, and supply continues surging, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- March 17, 2020
Aramco ‘very comfortable’ with oil at $30 a barrel: officials
Saudi Aramco is “very comfortable” with crude oil prices of $30 a barrel and will remain so “for a long time,” officials said on Monday during the company’s first earnings call with investors and analysts.- Joe Barone, Shale Directories
- Blog
- March 16, 2020
Canada’s Husky Energy trims capex, delays projects
Alberta-based Husky Energy has announced plans to trim $1 billion from its budget in 2020 in response to what it called “challenging” global market conditions with the lowest oil prices in three years.- Joe Barone, Shale Directories
- Blog
- March 16, 2020
Nine counties challenge tighter Colorado air rules
Nine rural counties in western Colorado have filed a lawsuit challenging state rules adopted last December to reduce unhealthy ozone pollution, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- March 16, 2020
BJ Services, Aethon to add new fracturing fleet
Texas-based BJ Services has entered into a four-year agreement with Aethon Energy for a natural gas-fueled fracturing fleet to be used in Louisiana, Kallannish Energy reports The first next-generation Titan fleet will be deployed in the gas-rich Haynesville Shale in the fourth quarter of 2020.- Joe Barone, Shale Directories
- Blog
- March 16, 2020
Wyoming eyes Occidental lands in Utah, Colorado
It is the strangest story of the week: Wyoming may soon to buy a chunk of land in another state for possible oil and gas drilling and other uses, Kallanish Energy has learned.- Joe Barone, Shale Directories
- Blog
- March 13, 2020
Matador Resources to reduce drilling program
Texas-based Matador Resources Co. will reduce its drilling program from six rigs to three rigs before June 30. It is active in the Delaware Basin of West Texas and New Mexico, the Eagle Ford in South Texas and the Haynesville Shale in Louisiana.- Joe Barone, Shale Directories
- Blog
- March 13, 2020
Canadian companies cut capex
MEG Energy Corp. is cutting $50 million from its 2020 capital spending. The total will drop from $250 million to $200 million and it has also reduced its production guidance slightly from 95,500 barrels per day to 94,000 barrels per day.- Joe Barone, Shale Directories
- Blog
- March 13, 2020
OMV, Mubadala sign $4.68B Borealis deal
Austria’s oil major OMV and Abu Dhabi’s sovereign investor Mubadala agreed terms for the $4.68 billion deal, which will give OMV a 75% controlling share in petrochemicals company Borealis, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- March 12, 2020
Saudi Arabia, UAE to flood oil markets in April
As the coronavirus outbreak is declared a pandemic by the World Health Organization, Saudi Arabia and the UAE announced they are increasing crude supply to the market in April by around 3 million barrels per day (Mmbpd), Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- March 12, 2020
DOE cancels Strategic Petroleum Reserve oil sales
The U.S. Department of Energy has suspended its planned sale of crude oil from the agency’s Strategic Petroleum Reserve in Texas and Louisiana, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- March 11, 2020
Analysts Expect Gas Producers to Gain Amid Oil Losses 📉
The loss to U.S. shale oil producers could allow the region’s gas-focused producers to benefit, as production cuts due to low oil prices are likely to ease the supply glut in the gas market, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- March 11, 2020
Cenovus to cut 2020 capital spending by 32%
In the wake of the oil price crash, Alberta-based Cenovus announced that it was cutting its 2020 capital spending by 32%, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- March 10, 2020
Oil price rout to trigger major industry shake-up: WoodMac
The oil price rout may trigger a major industry shake-up, and U.S. independent companies may be forced to act sooner than later, Kallanish Energy learns from Wood Mackenzie experts on Monday.- Joe Barone, Shale Directories
- Blog
- March 10, 2020
Half of BLM workers agree to move from D.C. to Colorado
About half of the 179 Bureau of Land Management workers being shifted from Washington, D.C., to western Colorado by the Trump administration have agreed to the move and the other half has quit or left the agency, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- March 10, 2020
Oil prices collapse 30%, may dip into $20s
Saudi Arabia added fuel to an already burning oil market by slashing its crude oil prices to Europe, Asia and the U.S.- Joe Barone, Shale Directories
- Blog
- March 10, 2020
Parsley Energy, Diamondback Energy cut Permian drilling
Permian players Diamondback Energy and Parsley Energy announced Monday they are cutting down development activities as an immediate reaction to the crash in oil prices.- Joe Barone, Shale Directories
- Blog
- March 9, 2020
Enbridge to proceed with $500M Line 5 Pipeline tunnel
Enbridge announced Friday that it intends to build a $500 million pipeline tunnel under the Straits of Mackinac after a long and continuing legal fight with the state of Michigan, Kallanish Energy reports.US rig count increases by three in last week
The number of rigs drilling for oil and natural gas in the United States increased by three, according to a new report compiled by Baker Hughes, the Texas-based well service company.Natural Gas Now Best Picks of the Week – March 7, 2020
Tom ShepstoneShepstone Management Company, Inc. … … Readers pass along a lot of stuff every week about natural gas, fractivist antics, emissions, renewables, and other news relating to energy.- Joe Barone, Shale Directories
- Blog
- March 6, 2020
Opec proposes 1.5 Mmbpd cut until end of 2020
Opec agreed on Thursday to recommend an additional 1.5 million barrels per day (Mmbpd) of oil production cuts until the end of 2020, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- March 6, 2020
ExxonMobil to earmark $33B on 2020 capital spending
Population growth, an expanding middle class and global prosperity are driving a worldwide demand for oil, natural gas and chemicals, according to ExxonMobil.- Joe Barone, Shale Directories
- Blog
- March 5, 2020
Gulfport, Firefly fight continues to simmer
Gulfport Energy is continuing to fight with Firefly Value Partners, its largest shareholder, Kallanish Energy reports. It is a fight over control of the board of directors of Gulfport, one of the largest natural gas producers in the U.S.- Joe Barone, Shale Directories
- Blog
- March 5, 2020
European majors leading net-zero race: GlobalData
International oil and gas companies are talking more about the significance of climate change in their corporate strategy, and the European majors are leading the way, analytics company GlobalData said Wednesday.- Joe Barone, Shale Directories
- Blog
- March 4, 2020
Chevron to invest $80B in dividends, share buybacks
Chevron Corp. plans to spend around $75-80 billion on dividends and shareholder buybacks in the next five years, funded largely by growing production in the Permian Basin of West Texas and New Mexico, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- March 3, 2020
Crude Oil Production; The Shale Revolution Takes A Hill and Dominates
Tom Shepstone Shepstone Management Company, Inc. . … A single graph of U.S. crude oil production suffices to show the sheer magnitude and beauty of the shale revolution, which has given us energy dominance.- Joe Barone, Shale Directories
- Blog
- March 3, 2020
Oil prices rebound on hopes Opec, central banks will act
Crude oil prices rebounded on Monday after the massive sell-off in commodities and equities last week, on hopes central banks will support their economies and the Opec+ alliance will not disappoint, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- March 3, 2020
Mercantile & Maritime to end shipping of Rosneft’s Venezuelan oil
Singapore-based Mercantile & Maritime group, a global business operating across the oil and gas value chain, confirmed Monday it will terminate its shipments of Venezuelan oil for Rosneft, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- March 3, 2020
BofA cuts crude price forecast by $8 a barrel
Strategists at the Bank of America’s Global Commodity Research have changed their 2020 forecast for crude oil prices by $8 a barrel, due to the impact of the coronavirus outbreak on the global economy.- Joe Barone, Shale Directories
- Blog
- March 2, 2020
Mexico’s Pemex posts huge 2019 loss
Petroleos Mexicanos posted a $18.3 billion net loss for 2019 — nearly double the previous year’s loss and a major setback to Mexican President Andres Manuel Lopez Obrador’s efforts to revive the debt-saddled state oil company, Kallanish Energy finds.- Joe Barone, Shale Directories
- Blog
- March 2, 2020
Citgo reaches deal to transfer Aruba refinery to govt
U.S. refiner Citgo has reached an agreement with the island of Aruba to transfer control of the San Nicolas refinery to the island’s government, Citgo said late Saturday, Kallanish Energy learns.- Joe Barone, Shale Directories
- Blog
- March 2, 2020
Maduro revamps PDVSA leadership
Venezuela has named four new vice presidents for a quartet of units of state oil company PDVSA, as well as a new president for the unit that handles joint ventures with private oil companies, PDVSA announced Saturday.Ecopetrol, Oxy to drill 90 wells in Permian this year
Colombian state-run oil company Ecopetrol expects its joint venture with Occidental Petroleum to drill 90 wells in the Permian Basin this year, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- February 28, 2020
Crude falls for 5th day on demand concerns
Crude oil prices fell for a fifth straight trading day Thursday, to their lowest point in 13 months, as a growing number of new coronavirus cases outside China fueled fears of a pandemic, which could slow the global economy and lower crude demand.- Joe Barone, Shale Directories
- Blog
- February 28, 2020
Upstream’s biggest coronavirus fear is prices
Wood Mackenzie said Thursday the biggest commercial fear for the upstream oil and gas sector from the coronavirus epidemic is its impact on commodity prices, not project delays, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- February 28, 2020
Eni ups Agogo field’s resources by 40%
Italian oil major Eni Thursday announced a 40% increase of estimated oil-in-place volumes at the Agogo oilfield, offshore Angola, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- February 27, 2020
US crude inventories climb in latest EIA survey
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) for the week ended Feb. 21, increased by 452,000 barrels from the previous week, the Energy Information Administration reported Wednesday.- Joe Barone, Shale Directories
- Blog
- February 27, 2020
Crude slides, tumbling deeper into bear market territory
Crude oil prices on average dropped more 2.5% Wednesday after hundreds of new coronavirus cases reported in Asia, Europe and the Middle East fired concerns energy demand would decline, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- February 27, 2020
Coronavirus outside China obstructs oil market recovery
The further spread of the coronavirus outside China has gotten in the way of the oil market recovery, and is forcing markets to re-assess the severity of the headwinds ahead, IHS Markit said this week.- Joe Barone, Shale Directories
- Blog
- February 26, 2020