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Chevron hints at divesting Appalachian assets
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Featured

  • Joe Barone, Shale Directories
  • Blog
  • December 11, 2019

Chevron hints at divesting Appalachian assets

Chevron hinted Tuesday its Appalachian shale assets could soon be up for sale, along with other parts of its asset portfolio, as the oil supermajor moves to “invest in the highest return, lowest risk projects … ,” Kallanish Energy reports.
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  • Joe Barone, Shale Directories
  • Blog
  • December 11, 2019

XOM beats New York’s climate-change accounting case

New York state’s Attorney General failed to prove ExxonMobil (XOM) mislead shareholders over the true cost of climate change, a judge ruled Tuesday, ending the supermajor’s four-year battle against the state, Kallanish Energy reports.
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  • Joe Barone, Shale Directories
  • Blog, Rig Count
  • December 9, 2019

US working-rig count continues to slip

The number of rigs working onshore in the Lower 48 U.S. states last week fell by three for the second straight week, data from Baker Hughes Co.’s weekly rig survey reveals.
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  • Joe Barone, Shale Directories
  • Blog
  • December 9, 2019

US crude posts best week since June, on Opec+ news

Crude oil rose Friday as Opec+ agreed to raise production cuts another 500,000 barrels a day through March 2020, bringing total production cuts to 1.7 million barrels a day, Kallanish Energy reports.
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  • Joe Barone, Shale Directories
  • Blog
  • December 8, 2019

US working gas in storage falls for 3rd straight week

The volume of working natural gas pulled from storage in the latest Energy Information Administration weekly survey dropped for the third consecutive week.
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  • Joe Barone, Shale Directories
  • Blog
  • December 6, 2019

Oman to support Russia’s condensate plans

Oman plans to back Russia’s expected call to exclude condensates from their production quota set under the Opec+ agreement, an official said on Thursday.
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  • Joe Barone, Shale Directories
  • Blog
  • December 6, 2019

MVP suspends pipeline construction contract

In late November, the company behind the Mountain Valley natural gas pipeline cancelled the construction contract with a Texas firm that had been doing the work, Kallanish Energy has learned.
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  • Joe Barone, Shale Directories
  • Blog
  • December 6, 2019

State report implicates PG&E in deadly Camp Fire

Pacific Gas & Electric Co. failed to properly maintain its towers and electric service wires and was directly responsible for the deadly Camp Fire that killed 85 people and burned over 150,000 acres in northern California, according to a new report by state investigators.
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  • Joe Barone, Shale Directories
  • Blog
  • December 5, 2019

Oil up on eve of Opec meeting

Crude oil gained roughly 4% Wednesday, as a larger-than-expected drop in U.S. inventories and hopes of deeper production cuts from Opec+ lifted prices, Kallanish Energy reports.
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  • Joe Barone, Shale Directories
  • Blog
  • December 2, 2019

Russian tanker heads to Spain with US LNG cargo

A Russian tanker was loaded last week with liquefied natural gas at Cheniere Energy’s Sabine Pass terminal in western Louisiana, and bound for the Spanish terminal of Huelva, Reuters reports, based on data from Refinitiv Eikon.
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  • Joe Barone, Shale Directories
  • Blog
  • November 29, 2019

Steel players in energy face challenging 2020

The new year will likely be challenging for steel players in the energy sector, market sources tell Kallanish, sister publication of Kallanish Energy.
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  • Joe Barone, Shale Directories
  • Blog
  • November 27, 2019

US energy-related CO2 emissions rose in 2018

Total U.S. energy-related carbon dioxide emissions in 2018 rose to 5.27 billion metric tons, 2.7% more than its 2017 level, the Energy Information Administration reports.
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  • Joe Barone, Shale Directories
  • Blog
  • November 22, 2019

XOM raises assets sales with $25 billion plan: sources

ExxonMobil (XOM) is enlarging its biggest asset sale in decades, with plans to divest up to $25 billion of gas and oilfields in Europe, Asia and Africa, banking sources told Reuters.
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  • Joe Barone, Shale Directories
  • Blog
  • November 19, 2019

Mexico’s latest gut punch to investors upends wind, solar aid

Mexico’s president is tearing down a system to encourage renewable-power development, dealing another gut punch to efforts to attract private investment to the nation’s energy sector, Kallanish Energy learns.
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  • Joe Barone, Shale Directories
  • Blog
  • November 19, 2019

Jordan Cove terminal would have ‘significant’ impacts: report

The proposed Jordan Cove liquefied natural gas export facility and its 230-mile feeder pipeline in Southern Oregon would cause adverse and significant impacts if built, according to Federal Energy Regulatory Commission staff, Kallanish Energy reports.
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  • Joe Barone, Shale Directories
  • Blog
  • November 18, 2019

Noble drops-down midstream assets for $1.6B

Independent producer Noble Energy said Friday after concluding its midstream review, it will retain and increase its ownership in Noble Midstream Partners (NBLX), Kallanish Energy reports.
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  • Joe Barone, Shale Directories
  • Blog
  • November 18, 2019

Cove Point loads 100th commercial ship

Dominion Energy’s Cove Point LNG terminal loaded its 100th commercial liquefied natural gas ship on Monday, Nov. 11, 19 months after the facility entered commercial service for natural gas liquefaction and export, Kallanish Energy reports.
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  • Joe Barone, Shale Directories
  • Blog
  • November 11, 2019

Aramco will offer less than 1% of shares to individuals

Saudi Aramco will sell up to 0.5% of its shares to individual investors in what could be the largest initial public offering in history, Kallanish Energy reports.
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  • Joe Barone, Shale Directories
  • Blog
  • November 7, 2019

O&G majors may benefit from offshore wind synergies: Fitch

Oil and gas majors may benefit from investments in offshore wind energy, and the resulting synergies with their offshore hydrocarbon production, Fitch Ratings said.
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  • Joe Barone, Shale Directories
  • Blog, Fracking
  • November 5, 2019

XOM says banning fracking will aid foreign producers

Banning hydraulic fracturing in the U.S. will aid foreign oil producers at the expense of the American economy, an ExxonMobil (XOM) executive said Friday.
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  • Joe Barone, Shale Directories
  • Blog
  • November 4, 2019

Stored gas more than half-Tcf higher than year ago

The volume of working natural gas added to storage in the latest Energy Information Administration weekly survey rose by 89 billion cubic feet, bringing this year’s total to more than a half-trillion cubic feet higher than one year ago.
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  • Joe Barone, Shale Directories
  • Blog
  • November 1, 2019

XOM didn’t deceive investors on climate change: Tillerson

ExxonMobil’s leadership tried to understand how new climate regulations would impact the supermajor’s bottom line, former CEO and ex-Secretary of State Rex Tillerson told a court Wednesday, Kallanish Energy reports.
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  • Joe Barone, Shale Directories
  • Blog
  • October 31, 2019

Years of offshore investments could be worthless: Rystad

International E&P companies are struggling to make money from offshore investments made during the latest investment upturn, according to a new study by Rystad Energy, Kallanish Energy reports.
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  • Joe Barone, Shale Directories
  • Blog
  • October 30, 2019

Aramco to begin planned IPO on Nov. 3: sources

Saudi Aramco aims to announce the start of its initial public offering on Nov. 3, three people with direct knowledge of the matter told Reuters, after delaying the deal earlier this month to give advisers time to secure anchor investors.
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  • Joe Barone, Shale Directories
  • Blog
  • October 29, 2019

EPD’s oil pipeline system expansions to add 900,000 Bpd

Enterprise Products Partners (EPD) said Monday it expects its Midland-to-ECHO 3 and 4 Permian crude pipeline system expansions each will add roughly 450,000 barrels per day of additional capacity, Kallanish Energy reports.
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  • Joe Barone, Shale Directories
  • Blog
  • October 28, 2019

Offshore wind set to be $1T business by 2040: IEA

Offshore wind should become a $1 trillion business by 2040, the International Energy Agency (IEA) said Friday, with global capacity set for a 15-fold increase, Kallanish Energy reports.
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  • Joe Barone, Shale Directories
  • Blog
  • October 24, 2019

Trump hails shale drilling, US energy industry

PITTSBURGH, Pennsylvania — President Trump Wednesday celebrated a love-in in the Appalachian Basin. The president delivered a 64-minute salute to shale drilling and the U.S.
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  • Joe Barone, Shale Directories
  • Blog
  • October 22, 2019

Aramco delays planned IPO until post-earnings update

Saudi Aramco has delayed the planned launch of its initial public offering in hopes pending third-quarter results will raise investor confidence in the world’s largest oil firm, two sources familiar with the matter told Reuters.
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  • Joe Barone, Shale Directories
  • Blog
  • October 16, 2019

Northeast natgas spot prices fall as lines fill

Natural gas flows out of the Northeast region into the rest of the U.S. averaged more than 16 billion cubic feet per day (Bcf/d) during September — between 1 Bcf/d and 2 Bcf/d more than in previous months, according to data from analytics firm Genscape.
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  • Joe Barone, Shale Directories
  • Blog
  • October 15, 2019

Oil replacement rate hits 20-year low

Oil and natural gas companies have discovered 7.7 billion barrels of oil-equivalent (Bboe) year-to-date, according to Rystad Energy’s latest global discoveries report, Kallanish Energy learns.
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  • Joe Barone, Shale Directories
  • Blog
  • October 14, 2019

India investing over $60B in gas supply, infrastructure

India is investing over $60 billion in natural gas supply and distribution infrastructure as it seeks to more than double the share of natural gas in its energy base, to 15% by 2030, oil minister Dharmendra Pradhan said Sunday.
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  • Joe Barone, Shale Directories
  • Blog
  • October 10, 2019

Halliburton cutting 650 jobs in US

Oilfield services giant Halliburton said Wednesday it’s cutting another 650 U.S. jobs as oil and gas producers have slashed spending amid weak prices and investor demands for stronger financials, Reuters reported.
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  • Joe Barone, Shale Directories
  • Blog
  • October 10, 2019

Bloomberg’s plan ‘irresponsible,’ BP CEO

Retiring BP chief executive Bob Dudley believes former New York City Mayor Michael Bloomberg’s $500 million plan to halt construction of natural gas-fired power plants in the U.S.
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  • Joe Barone, Shale Directories
  • Blog
  • October 9, 2019

US natgas production to rise in 2019, 2020: STEO

The Henry Hub natural gas spot price averaged $2.56 per million British thermal units (MMBtu) in September, up 34 cents/MMBtu from August, the first monthly price increase since March, the Energy Information Administration reports in the just-released Short-Term Energy Outlook (STEO).
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  • Joe Barone, Shale Directories
  • Blog
  • October 9, 2019

Brent to average $60/Bbl in 2020: STEO

Brent crude oil spot prices will average $59 per barrel in the fourth quarter of 2019, then fall to $57/Bbl by the second quarter of 2020, $5/Bbl lower than forecast one month ago, the Energy Information Administration reported Tuesday in its October Short-Term Energy Outlook (STEO).
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  • Joe Barone, Shale Directories
  • Blog
  • October 8, 2019

Third-quarter energy sector activity drops: Dallas Fed

Third-quarter energy sector activity declined, according to the Federal Reserve Bank of Dallas quarterly energy survey, Kallanish Energy reports. The business activity index — the survey’s broadest measure of conditions facing 11th District energy companies — fell to -7.4 in the third quarter, from -0.6 in the second quarter.
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  • Joe Barone, Shale Directories
  • Blog
  • October 4, 2019

BP names Bernard Looney as Dudley’s successor

BP’s board of directors announced today CEO Bob Dudley will retire on March 31, 2020 and will be succeeded by Bernard Looney – who currently heads BP’s Upstream, Kallanish Energy reports.
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  • Joe Barone, Shale Directories
  • Blog
  • October 4, 2019

US crude oil exports continue growing in first half of 2019

U.S. exports of crude oil rose to average 2.9 million barrels per day (Mmbpd) in the first half of 2019, an increase of 966,000 b/d from the first half of 2018, the Energy Information Administration reports.
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  • Joe Barone, Shale Directories
  • Blog
  • October 3, 2019

US O&G M&A maintains momentum in Q3: Enverus

Despite what’s called a “difficult” market, merger and acquisition activity in the U.S. oil and gas industry maintained the momentum established in Q2, surpassing $17 billion in Q3, according to data released by data analytics company Enverus.
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  • Joe Barone, Shale Directories
  • Blog
  • September 30, 2019

Bloom, Samsung to build fuel cells-powered ships

Bloom Energy and Samsung Heavy Industries (SHI) last week announced a collaboration to design and develop ships powered by Bloom Energy’s solid oxide fuel cell technology, Kallanish Energy reports.
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  • Joe Barone, Shale Directories
  • Blog
  • September 26, 2019

Dallas Fed survey: O&G activity contracts, employment falls

Energy sector activity declined in the third quarter, according to executives responding to the Federal Reserve Bank of Dallas Energy Survey, Kallanish Energy reports.
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  • Joe Barone, Shale Directories
  • Blog
  • September 25, 2019

EIA projects world energy usage will jump

World energy consumption will grow by nearly 50% between 2018 and 2050, according to International Energy Outlook 2019, presented by the Energy Information Administration.
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  • Joe Barone, Shale Directories
  • Blog
  • September 24, 2019

Texas wind power on track to outpace coal in 2020

Texas is about to go green — by 2020, more electricity will come from wind than coal, according to analytics/consulting firm Rystad Energy.
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  • Joe Barone, Shale Directories
  • Blog
  • September 24, 2019

Natural gas royalties paid in Pa reach nearly $10B

Royalties paid to Pennsylvania landowners for natural gas extraction in primarily eight counties totaled $8.84 billion from 2010 through 2018, according to calculations by the state Independent Fiscal Office (IFO), Kallanish Energy reports.
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  • Joe Barone, Shale Directories
  • Blog
  • September 23, 2019

Working gas added to storage in latest survey

The amount of working natural gas added to underground storage in the latest Energy Information Administration survey pushed the total stored working gas total over 3.1 trillion cubic feet (Tcf).
Read More
  • Joe Barone, Shale Directories
  • Blog
  • September 20, 2019

Duke Energy looks to renew nuclear plant licenses

Duke Energy said Thursday it will seek to renew the operating licenses of the 11 reactors it operates at six nuclear power plants in North and South Carolina for an additional 20 years, Kallanish Energy reports.
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  • Joe Barone, Shale Directories
  • Blog
  • September 19, 2019

San Jose moves to ban natural gas in new residential buildings

The U.S.’s 10th most populous U.S. city Tuesday moved to ban natural gas in most new residential buildings, beginning next year, Kallanish Energy reports.
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  • Joe Barone, Shale Directories
  • Blog
  • September 18, 2019

Venezuela can’t find vessels to ship its oil

Exports of Venezuelan crude oil, severely curtailed due to U.S. sanctions, now face a new concern: a shortage of vessels willing to transport crude produced by the regime of President Nicolas Maduro, Bloomberg reports.
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  • Joe Barone, Shale Directories
  • Blog
  • September 17, 2019

US consumers will see ‘sticker shock’ at gas pump: analyst

U.S. gasoline prices will increase roughly 20 cents per gallon because of the recent attacks in Saudi Arabia, oil analyst Andy Lipow predicted Monday, on CNBC.
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  • Joe Barone, Shale Directories
  • Blog
  • September 16, 2019

Trump authorizes release of oil reserves, line approvals

U.S. President Trump said Sunday he’s authorized a fast-track approach to pipeline approvals in Texas and other states following the attacks on Saudi oil facilities Saturday, Kallanish Energy reports.
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  • Joe Barone, Shale Directories
  • Blog
  • September 13, 2019

Osfs should prepare for recession, Rystad warns

The oilfield services (Ofs) sector will shrink in 2020, as oil and gas producers chop spending in response to lower crude prices, ending three years of growth, according to Rystad Energy.
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  • Joe Barone, Shale Directories
  • Blog
  • September 12, 2019

US producible gas volume jumps in latest biennial survey

Energy industry experts who comprise the Potential Gas Committee announced Wednesday the volume of producible natural gas in the U.S. has jumped roughly 20% since their last assessment two years ago.
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  • Joe Barone, Shale Directories
  • Blog
  • September 11, 2019

Iraq will comply with Opec cuts, minister says

Iraq will immediately comply with Opec production cuts after months of overproduction, its oil minister told CNBC Tuesday. The second-largest crude producer in the 14-member cartel is known to chronically overproduce even as the group tries to curb output to help prop up prices, Kallanish energy reports.
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  • Joe Barone, Shale Directories
  • Blog
  • September 11, 2019

EQT simplifying organization, cutting 23% of workforce

EQT Corp. said Tuesday it’s cutting its workforce by 23% — 196 positions – and chopping departments to 15 from 58 – all designed to improve operational effectiveness, and create a more efficient, nimbler organization.
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  • Joe Barone, Shale Directories
  • Blog
  • September 10, 2019

Eia: Florida shifts to natural gas for electricity

Florida is rapidly turning to natural gas to produce its electricity, Kallanish Energy reports. Florida has added 16 gigawatts of utility-scale natural gas-fired electric generation between 2008 and 2018, about 24% of all U.S.
Read More
  • Joe Barone, Shale Directories
  • Blog
  • September 9, 2019

More crude oil being loaded at Corpus Christi: RBN Energy

U.S. crude oil loadings at Corpus Christi, Texas, have nearly doubled with the completion of new pipelines from the Permian Basin of West Texas and New Mexico, Kallanish Energy has learned.
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  • Joe Barone, Shale Directories
  • Blog
  • September 5, 2019

Novatek’s $21.3B Arctic LNG 2 officially launched

Novatek and its partners announced Thursday the final investment decision (FID) on the $21.3 billion Arctic LNG 2 project, with first liquefied natural gas (LNG) cargo expected in 2023, Kallanish Energy reports.
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  • Joe Barone, Shale Directories
  • Blog
  • September 3, 2019

Saudi Arabia splits energy, industry ministry

Saudi Arabia has announced a reshuffling in its former most important ministry – the Energy, Mineral Resources and Industry Ministry – as the kingdom prepares for a transformational future, Kallanish Energy reports.
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  • Joe Barone, Shale Directories
  • Blog
  • August 29, 2019

Power sector still the U.S.’s largest electricity consumer

Energy consumption in the U.S. reached a record high of more than 101 quadrillion British thermal units (quads) in 2018, surpassing the previous high recorded in 2007, by less than 0.3%, the Energy Information Administration reports.
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  • Joe Barone, Shale Directories
  • Blog
  • August 29, 2019

Plains gives up on pipeline steel surcharge

U.S. pipeline operator Plains All American has abandoned a plan to institute a surcharge to offset Section 232 steel tariffs for its new Cactus II Pipeline, following objections by ConocoPhillips and Encana, according to regulatory documents secured by Kallanish, sister publication of Kallanish Energy.
Read More

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