Bakken
U.S. Natural Gas Prices Hit 25-Year Low at Henry Hub, Drop into Negative at Waha
U.S. natural gas prices plunged to a 25-year low at Henry Hub and into negative territory at Waha, driven by mild weather, low demand, and pipeline constraints.
TC Energy's Profit Surpasses Estimates, Driven by U.S. Gas Pipeline Demand
TC Energy exceeded third-quarter profit forecasts, with significant growth from its U.S. natural gas pipeline segment amid rising North American energy demand. The company continues to benefit from high natural gas consumption and record U.S. imports of Canadian oil.
Williams Companies Exceeds Q3 Profit Estimates on Higher Revenue, Boost from Transco Pipeline
Williams Companies surpassed third-quarter profit forecasts with strong service revenue and increased natural gas flows, especially from its Transco pipeline. The company raised its annual profit outlook, citing demand from data center growth and industrial re-shoring projects.
Energy Transfer Receives 16 Bcf/d Natural Gas Requests Amid Growing Data Center, Power Needs
Energy Transfer reported a substantial increase in requests to connect over 90 power plants and data centers, with potential demand totaling up to 16 Bcf/d of natural gas. The surge is fueled by growth in data centers supporting AI, and pipeline proximity could allow Energy Transfer to capture a significant portion of this new demand.
Trump’s Return May Shift U.S. Energy Focus, but Clean-Energy Boom Remains Strong
Donald Trump's return to the White House would likely redirect U.S. energy policy towards oil and gas, but experts believe the nation's clean-energy boom will maintain momentum due to existing subsidies and market dynamics.
U.S. Crude Oil Pipeline Squeeze Boosts Prices at Gulf Coast Export Hub
U.S. crude oil prices at the Gulf Coast export hub have surged due to limited pipeline capacity from the Permian basin. A growing demand for light sweet crude, alongside record production, has widened the price gap between West Texas and Houston.
ONEOK’s Q3 Profit Surges 53% on Rocky Mountain NGL Demand; Annual Forecast Narrowed
ONEOK’s third-quarter profit rose 53%, driven by strong natural gas and NGL demand in the Rocky Mountain region. The pipeline operator narrowed its annual forecast, reflecting growth in its NGL and refined products segments and continued asset expansion.
U.S. LNG Export Growth Faces Uncertainty as Trump’s Tariff Proposal Looms, Analysts Say
U.S. liquefied natural gas (LNG) exports could face setbacks if Donald Trump wins the election and imposes a proposed 60% tariff on Chinese imports, analysts say. The move may lead to trade tensions and reduce demand for U.S. LNG from China, affecting export growth.
EQT Sells Remaining Pennsylvania Natural Gas Assets to Equinor for $1.25 Billion
EQT Corp. has agreed to sell its remaining Pennsylvania natural gas assets to Equinor for $1.25 billion, with proceeds aimed at reducing debt following its recent pipeline acquisition. The transaction also expands Equinor’s U.S. production footprint in the Marcellus shale.
U.S. Allocates $196 Million for Natural Gas Pipeline Modernization
The funding, part of President Biden's Bipartisan Infrastructure Law, will support 60 projects aimed at enhancing safety, reducing environmental harm, and lowering energy costs by replacing leak-prone pipelines.
Four Petroleum Liquids Pipelines Completed in U.S. Since 2023
Four new petroleum liquids pipelines, including three crude oil projects and one hydrocarbon gas liquids (HGL) pipeline, have been completed in the U.S. since 2023, according to data from the U.S. Energy Information Administration’s (EIA) updated Liquids Pipeline Projects Database.
New 580-Mile Texas Pipeline Eases Bottlenecks, Boosts Shale Gas and Oil Output
The Matterhorn Express pipeline, the first new natural gas pipeline in the Permian Basin in three years, is alleviating gas bottlenecks and boosting oil production by freeing up gas flow to Gulf Coast export hubs. This new capacity is expected to significantly increase shale output in west Texas.
ExxonMobil Explores Sale of Bakken Shale Assets in North Dakota
ExxonMobil is exploring the sale of a portion of its assets in North Dakota's Bakken shale, which includes over 800 wells across 49,000 net acres. The sale, part of Exxon's strategy to focus on high-growth assets, could fetch upwards of $500 million.
North Dakota Pipeline Authority Reports Wildfire Impact on Oil, Gas Production
The North Dakota Pipeline Authority said on Tuesday oil production is estimated to be down nearly 60,000 to 90,000 barrels of oil per day (bpd) due to the ongoing wildfires in the U.S. state.
Vivakor Finalizes $120 Million Acquisition of Endeavor Crude Transport Firms
The Endeavor entities collectively manage a large-scale oilfield trucking fleet, transporting crude oil and petroleum products across the U.S. They are also involved in blending, processing, and remediating hydrocarbons, with facilities linked to pipeline networks.
Natural Gas Producers Demand Harris’ Stance on Key Energy Issues in Battleground Pennsylvania
As the nation’s second-largest natural gas producer, Pennsylvania is crucial in the upcoming election, with energy policies on LNG and fracing poised to shape the battleground state’s economy. Harris’s approach remains unclear, leaving industry leaders concerned about the potential impact on jobs and energy costs.
Validus Energy to Acquire Tulsa-Based Citizen Energy in $2 Billion Deal, Sources Say
Privately held oil and gas producer Validus Energy has struck a deal to buy rival Citizen Energy for more than $2 billion, including debt, according to people familiar with the matter.
EQT Plans to Reverse Some U.S. Natural Gas Production Curtailments in October, CEO Says
"Production curtailments will be a normal part of our strategy when prices are low," CEO Toby Rice said, noting the company has already curtailed about 1 billion cubic feet per day (Bcf/d) of production in the spring.
Energy Leaders Believe VP Harris Won’t Ban Fracing, Citing Gas Price Risks
U.S. Vice President Kamala Harris understands natural gas prices will rise if fracing is banned, industry executives said, explaining their confidence that the Democratic candidate will not ban the production method if she becomes president.
Williams Seeks Emergency Certificate to Operate $1 Billion Mid-Atlantic Gas Pipeline After Court Reversal
Williams' Transco has applied for a temporary emergency certificate from FERC to continue operating its new $1 billion natural gas project running through five mid-Atlantic states after the regulator's approval was vacated.
Report: U.S. Oil, Gas M&A Nears 2023 High as Focus Shifts from Permian
Nearly $100 billion has been spent by U.S. producers on mergers and acquisitions so far this year, and another $46 billion in assets are currently for sale, according to analysts.
U.S. LNG Exports Surge in August as Freeport LNG Output Recovers
Exports of U.S. LNG bounced higher in August as output from the country's second-largest export facility rose following an outage and maintenance activities at other plants wound down, LSEG data showed on Tuesday.
Texas Waha Hub Gas Prices Plunge to Record Lows, Hit Negative Territory
Natural gas prices in the Permian shale basin in West Texas have turned negative a record number of times in 2024, including an all-time low on Aug. 30, as pipeline and other constraints trap gas in the nation's biggest oil-producing basin.
New Haynesville Pipeline Projects Near Completion Amid LNG Demand Surge
New pipeline projects in the Haynesville region, such as the 155-mile Louisiana Energy Access Pipeline (LEAP) expansion, are approaching completion to support the increasing LNG export demand from Gulf Coast facilities.
Baltimore Takes Shale Producers to Court Over Alleged Price-Fixing Scheme
The city of Baltimore has hit major U.S. shale oil producers including Hess and Permian Resources with a lawsuit alleging they conspired to curb production, leading to higher prices for gasoline, diesel fuel and heating oil.
Texas Oil Pipelines Near Max Capacity, Threatening Future Export Limits
The pipelines that carry crude from the prolific Permian Basin to the Port of Corpus Christi are currently operating at over 90% capacity, and operators warn that this congestion could worsen.
Enbridge, Energy Transfer Confront Takeaway Capacity Crunch Amid Rising Production
Enbridge and Energy Transfer are tackling the challenge of increasing takeaway capacity amid rising U.S. oil and gas production. This exclusive P&GJ article provides an in-depth look at their latest infrastructure projects and market strategies.
North Dakota Oil Production Drops Again in June, Hits 1.18 Million bbl/d
North Dakota's oil production fell by 22,500 barrels per day (bbl/d) in June to an estimated 1.176 million bbl/d, the state's Pipeline Authority said on Thursday, marking a second straight monthly decline.
Texas Oil Regulator Faces Scrutiny as "Zombie" Wells Reemerge
On a sprawling ranch in Pecos County in late July, oil well control specialist Hawk Dunlap used a backhoe to uncover an abandoned or so-called zombie well that had sprung back to life despite being plugged just over a year earlier, hissing gas and bubbling toxic water into the dry Texas dirt.
U.S. Shale Boosts Output with Fewer Rigs, Defying Post-Merger Slowdown
Greater operating efficiencies in the top U.S. shale patch are squeezing out more oil without higher spending, according to the latest output numbers, which will boost global oil market supplies as OPEC also plans to unwind its output cuts later in the year.
- Energy Transfer Subsidiary Selects KTJV for Lake Charles LNG Export Project
- Phillips 66 to Shut LA Oil Refinery, Ending Major Gasoline Output Amid Supply Concerns
- FERC Sides with Williams in Texas-Louisiana Pipeline Dispute with Energy Transfer
- U.S. Appeals Court Blocks Kinder Morgan’s Tennessee Pipeline Permits
- ConocoPhillips Eyes Sale of $1 Billion Permian Assets Amid Marathon Acquisition
- U.S. Appeals Court Blocks Kinder Morgan’s Tennessee Pipeline Permits
- Malaysia’s Oil Exports to China Surge Amid Broader Import Decline
- U.S. LNG Export Growth Faces Uncertainty as Trump’s Tariff Proposal Looms, Analysts Say
- Marathon Oil to Lay Off Over 500 Texas Workers Ahead of ConocoPhillips Merger
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
