North America
Sempra Beats Profit Estimates on Higher Earnings from California Units
Sempra Energy reported fourth-quarter profit that beat analysts' estimates on Tuesday, helped by higher earnings from its California utilities. The company also reiterated that it is targeting a final investment decision for its LNG export facility in Texas before the end of the first quarter of 2023.
Oilfield Services Firm Atlas Energy Aims for $2 Billion Valuation in US IPO
The company provides logistics services to customers in the oil and natural gas industry within the Permian Basin of West Texas and New Mexico. It plans to raise $414 million in an offering priced between $20 and $23 per share.
Mexico's Pemex Increased Gas Flaring at Top Field, Despite Pledge to Stop
In January, an estimated 1.3 billion cubic feet of gas were burned from four flares at the Papan and Perdiz plants meant to process gas from Ixachi, satellite data shows, up from 1 billion cubic feet in November when the promise was made.
Tellurian Faces New Setback as Financing Looms for $13 Billion Driftwood LNG Project
Tellurian Inc. is facing a new setback in a long-running effort to advance a $12.5 billion U.S. LNG export project. Commodities trader Gunvor Ltd. can walk away from a 10-year, about $12 billion commitment to buy LNG if Tellurian's Driftwood LNG project lacks a financial go-ahead, project financing and a full construction authorization by Feb. 28.
Venture Global Strikes 20-Year LNG Supply Deal with Excelerate Energy
U.S. LNG company Venture Global LNG has agreed to supply 0.7 million tonnes of LNG per annum to Excelerate Energy Inc. for 20 years. The LNG will be delivered to Excelerate from Venture's Plaquemines LNG facility in Plaquemines Parish, Louisiana.
Harvest Midstream to Expand Gathering Infrastructure with Paradigm Midstream Acquisition
(P&GJ) — The North Dakota and South Texas assets are comprised of four wholly owned gathering systems known as the Charlson Gathering System, Van Hook Gathering System, Mountrail Gathering System, and Eagle Ford Gathering System. These systems consist of approximately 350 miles of trunk lines and gathering lines for oil, gas, and water.
Pioneer Natural Resources Denies Report of Acquisition of Range Resources
Oil and gas explorer Pioneer Natural Resources Co. said on Friday that it was not pursuing any business combinations, after Bloomberg News reported that the oil and gas explorer was considering an acquisition of smaller U.S. rival Range Resources Corp.
Say ‘Aloha’ to New Trend of Hydrogen Blending with Hawaii Gas
(P&GJ) — While most of the naphtha is converted to methane, some hydrogen is produced in the steam reformer process, resulting in hydrogen concentrations of up to 10% to 15%. As natural gas utilities around the world look to hydrogen as a potential solution to decarbonization, the decades of experience Hawaii Gas already has with a hydrogen blend provide an insightful study into the performance of equipment using hydrogen blends.
EPA: US 2022 Power Plant Emissions Fell on Switch from Coal to Gas
U.S. power plant emissions of pollutants that harm human health and warm the planet fell last year as the industry continued a switch from coal to natural gas, the Environmental Protection Agency said on Friday.
Russian Governor: Sakhalin-1 Oil, Gas Output Less Than Half of Plan in 2022
The project saw a sharp decline in output following the departure of U.S. oil and gas major Exxon Mobil after Moscow sent tens of thousands of troops into Ukraine on Feb. 24 last year.
FERC’s Pipeline, LNG Project Evaluations Looking at EJ
(P&GJ) — The Federal Energy Regulatory Commission (FERC) is devoting an increasing amount of attention and staff resources to the evaluation of impacts of interstate natural gas pipeline and LNG terminal projects on environmental justice (EJ) communities (that is, communities with disproportionately large minority and low-income populations).
ESG & Innovation: API Looks at Species, Habitat Conservation
(P&GJ) — The American Petroleum Institute (API) published a first-edition document focused on species and habitat conservation for onshore natural gas and oil production facilities that will help boost the industry’s existing practices to enhance environmental performance.
EOG Resources Says Low Natural Gas Prices Not Changing Drilling Plan
U.S. oil and gas producer EOG Resources on Friday said it had no plans to alter its strategy around new natural gas drilling, despite a sharp decline in prices this year. Rival producers, including Chesapeake Energy, Southwestern Energy and Comstock Resources, have said this month they are pulling back on drilling after U.S. gas prices tumbled 50% this year.
China Gas Holdings Secures LNG Supply Deals with Venture Global for 40-Year Term
China Gas Holdings has agreed to two 20-year LNG supply contracts with U.S. exporter Venture Global, adding to a flurry of deals signed between China and the U.S. since 2021. It would buy a total of two million tonnes per year of LNG from Venture Global under the two contracts with supply set to kick off in 2027.
Cheniere Initiates Permit Process for Key Sabine Pass Project Expansion
Cheniere Energy Inc. on Thursday initiated an expansion permit process of LNG export capacity at its key Sabine Pass plant in Louisiana after the exporter topped revenue estimate on strong demand following Russia's invasion of Ukraine.
Diamondback Energy Targets At Least $1 Billion in Non-Core Asset Sale; Beats Profit Estimates
U.S. oil and gas producer Diamondback Energy Inc said on Wednesday it was increasing its non-core asset sale target to at least $1 billion by the end of this year from $500 million. Additionally, the shale producer announced it beat Wall Street expectations for fourth-quarter profit, as tighter energy supplies following Russia's invasion of Ukraine boosted crude prices.
Expanding Gas Infrastructure Presents Alternative to Permian Constraints
(P&GJ) — Oil is still serious business in the Bakken Shale, but when it comes to midstream, the money is on natural gas. As in the Permian Basin, oil production in the Williston has a high rate of associated natural gas. But the Bakken’s residual gas is rich in natural gas liquids (NGLs), and that requires infrastructure generally more akin to North Texas’ Barnett Shale than West Texas’ Permian.
Chesapeake Energy to Reduce Drilling on Lower Natural Gas Prices
U.S. natural gas producer Chesapeake Energy on Wednesday said it would pull back on drilling and completing wells this year as natural gas prices fell to a quarter of what they were last summer.
US Official Says Russia's Crude Output Cut Signals Unsold Oil
Russia's decision to cut crude oil production by 500,000 barrels per day reflects its inability to sell all of its oil, Ben Harris, a U.S. Treasury Department Assistant Secretary, said on Thursday.
Tellurian Taps LNG Demand Surge to Deliver Fourfold Jump in Production
Tellurian Inc. on Wednesday reported a fourfold increase in quarterly natural gas production to meet a surge in demand triggered by Western sanctions against Russia over the Ukraine invasion.
Damaged Line Triggers Natural Gas Leak in College Station, Texas
(P&GJ) — At around 4:00 p.m. on Monday, the Texas Avenue and Richards Street neighborhood was the scene of a gas leak that the College Station Fire Department and College Station Police attempted to contain.
US Energy Regulator Approves Partial Restart of Freeport LNG
The U.S. Federal Energy Regulatory Commission approved the partial restart of two liquefaction trains, two tanks, and one loop and dock each, a filing showed on Tuesday. Restart of a third train, along with a tank, a loop, and a dock, would require additional permission.
Financial Community’s Outlook on Oil and Natural Gas
(P&GJ) — Hop-scotching around North America in the fall of 2022 turned up varying voices calling for systemic changes in the energy industry that carry impacts from Wall Street to main street, from Canada to Mexico.
US Crude Oil Exports to Be In Demand This Year as Trade Flows Reshuffle
U.S. crude oil exports that have been boosted by a trade flow reshuffle in the aftermath of Russia's invasion of Ukraine will remain elevated this year as Europe and Asia search for supplies, company officials and analysts said.
IEA's Birol Warns of Tighter Energy Supply Next Winter
International Energy Agency (IEA) head Fatih Birol has warned of possible energy shortages next winter as relatively little new LNG is coming to the market while China's consumption is set to rise this year.
Coastal GasLink’s Year of Milestones
(P&GJ) — As 2022 drew to a close, news came that one of the more complex pipelines projects ever seen in North America, the Coastal Gaslink project, had eclipsed the 80% completion mark in British Columbia. The project, in combination with the Kitimat LNG plant, is the largest Canadian infrastructure investment since the 1950s when the St. Lawrence Seaway was constructed.
Williams Strikes Natural Gas Gathering Deals with Oil Major Chevron
Natural gas processing and transportation firm Williams Cos Inc. said on Friday it executed deals with oil major Chevron Corp.'s unit to support natural gas development in the Haynesville basin as well as the deepwater Gulf of Mexico.
India's GAIL Explores Up to 26% Equity Stake in US LNG Projects
India's largest gas distributor GAIL (India) Ltd. is looking to buy an equity stake of up to 26% in an LNG liquefaction plant or project in the United States, according to a document issued by the company.
Canada's Cenovus Names Jon Mckenzie as New CEO, Posts Quarterly Profit
Cenovus Energy named COO Jon McKenzie as its next president and chief executive on Thursday, as Canada's second-largest oil and gas producer swung to a fourth-quarter net profit from a loss last year.
US LNG Producers Poised to Leapfrog Rivals with Three New Projects
Projects best positioned to move ahead include Sempra Energy's Port Arthur plant in Texas, Energy Transfer LP's Lake Charles in Louisiana and NextDecade Corp.'s Rio Grande in Texas. They have all or most of the long-term LNG sales agreements needed to convince bank's that the projects are ready for debt financing, according to Reuters analysts.
- 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
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
- 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
