From Cheniere Energy on Thursday.
Note: Range Resources has a signed agreement to ship some natural gas from Pennsylvania's Marcellus SWhale to the Cheniere facility in Louisiana.
Under the SPA, EDP will purchase LNG on a free on board basis (FOB) for a purchase price indexed to the monthly Henry Hub price plus a fixed component. LNG will be loaded onto EDP's vessels. The term of the SPA will extend for twenty years beyond the date of first commercial delivery of the third train of the
The decision by New York Gov. Andrew Cuomo to continue the state's ban on fracking could have ripple effects in eastern Pennsylvania.
That's because the two states are members of a commission that oversees the Delaware River Watershed, and New York's decision could mean no drilling in eastern Pennsylvania.
Click here to read the full story from NPR's StateImpact Pennsylvania.To read more or comment...
Royal Dutch Shell affiliate SWEPI LP has sold its former Appalachian Basin headquarters in Pittsburgh to XTO Energy Inc. for about $3.7 million, the Pittsburgh Business Times reported this week.
The acquisition allows XTO to consolidate its regional headquarters into a single building at Thorn Hill Industrial Park, said XTO spokeswoman Suann Guthrie.
XTO is to move into its new digs by the end of Q1 2015, Guthrie said.
The company is a player in Ohio's Utica Shale plus in the Marcellus hale in western Pennsylvania.To read more or comment...
From Republic Services today:
PHOENIX, Dec. 19, 2014 /PRNewswire/ -- Republic Services, Inc. (NYSE: RSG) and Calgary, Alberta-based Tervita Corporation announced today that the companies have entered into a definitive agreement whereby a subsidiary of Republic Services will acquire Tervita, LLC ("Tervita"), a subsidiary of Tervita Corporation. Tervita is a leading pure-play environmental waste solutions provider serving oil and natural gas producers in the United States.
Tervita's geographic footprint spans across some of the most attractive domestic basins, including the Permian, Eagle Ford and Bakken. Tervita provides oilfield waste services to its diverse customer base and operates three types of waste management and disposal facilities: treatment, recovery and disposal (TRD) facilities; engineered landfills; and salt water disposal (SWD) injection wells. Additionally, Tervita provides closed loop solids control systems and transportation services.
"The acquisition of this vertically integrated operation allows Republic Services to establish a significant platform in the E&P waste sector and positions us well for future growth opportunities," said Donald W. Slager, president and CEO of Republic Services. "Additionally, Tervita's environmentally committed operations complement our core competency and expertise in waste handling, recovery and disposal."To read more or comment...
U.S. oil companies could see the amount of money they can borrow shrink significantly next April when banks reassess credit conditions amid falling oil prices.
That will reduce the available cash they need to drill pricey wells into shale basins, a painful prospect for firms that rely on high spending levels to maintain oil production and their income levels.
Unless crude prices climb back up by next spring, financial institutions will reset their assumptions about the value of oil reserves, which were last set in October, when oil traded above $80 a barrel. If that happens, the energy sector will experience a shortfall in borowing capacity, according to experts.
Click here to read the full story from Houston's Fuel Fix blog.To read more or comment...
Tumbling oil prices have exposed a weakness in the insurance that some U.S. shale drillers bought to protect themselves against a crash, Bloomberg reports.
At least six companies, including Pioneer Natural Resources Co. and Noble Energy Inc., used a strategy known as a three-way collar that doesn’t guarantee a minimum price if crude falls below a certain level, according to company filings. While three-ways can be cheaper than other hedges, they can leave drillers exposed to steep declines.
“Producers are inherently bullish,” said Mike Corley, the founder of Mercatus Energy Advisors, a Houston-based firm that advises companies on hedging strategies. “It’s just the nature of the business. You’re not going to go drill holes in the ground if you think prices are going down.”
Click here to read the full story.To read more or comment...
From Pennsylvania-based Deep Well Services on Thursday:
From the American Petroleum Institute on Thursday:
WASHINGTON, December 18, 2014 ─ Total U.S. petroleum deliveries (a measure of demand) rose last month by 1.9 percent from November 2013 to average 19.9 million barrels per day, the highest level for the month in seven years.
“It has been several years since we’ve seen this level of demand in November,” said API Chief Economist John Felmy. “The economy overall appeared to be in good shape last month, and production of crude, natural gas and refined products all remained quite strong.”
Gasoline demand also grew by 1.9 percent from November 2013 to average 9.1 million barrels per day. These were the highest deliveries for the month since 2007. Distillate deliveries were the highest in eight months, increasing by 1.2 percent above the prior year to 3.9 million barrels per day. Demand also rose over the same period for jet fuel (3.8 percent) and “other oils” (7.1 percent) while residual fuel deliveries fell 26.0 percent to set a new record low for the month.
Crude production jumped 14.9 percent from last year to its highest November output since 1973. The production level of 9.1 million barrels per day marked the first time above 9.0 million barrels per day since March 1986. The Bakken, the Eagle Ford, and the Permian regions posted record levels of production last month, averaging 1.2 million barrels per day, 1.6 million barrels per day, and nearly 1.8 million barrels per day, respectively.
Natural gas liquids (NGL) production, a co-product of natural gas production, reached its highest output on record at nearly 3.2 million barrels per day, an increase of 15.3 percent from last year. Production of natural gas in the Marcellus region, the largest natural gas producing region, reached a record high of nearly 15.9 billion cubic feet per day in November, up 17.9 percent from last year and was up 74.0 percent from November 2012.
According to the latest reports from Baker-Hughes, Inc., the number of oil and gas rigs in the U.S. in November was 1,925, the same from October, but was up 169 counts from November 2013. This was the second highest count since July 2012.
Total petroleum imports last month were down by 5.2 percent from November 2013 to average just below 8.9 million barrels per day. This was the second lowest level since February 1996. Crude imports rose slightly by 0.7 percent from last year to average nearly 7.5 million barrels per day – the second lowest level for the month since 1996. Imports of refined products dropped 27.3 percent over the same period to the lowest level since May 1995 at 1.4 million barrels per day.
Production of gasoline gained 0.6 percent from the prior year to average a new high for the month of November at 9.5 million barrels per day. At nearly 4.9 million barrels per day, distillate production rose by 4.9 percent from October but was down by 3.7 percent from November 2013. Year to date production of both products was the highest on record.
November records were also set in refinery gross inputs and exports of refined products. Gross inputs grew 0.9 percent from last year to average 16.3 million barrels per day while exports were up 5.5 percent to average 4.2 million barrels per day.
With several refineries back up from their scheduled turnaround, the refinery capacity utilization rate averaged 91.4 percent in November. This was up 2.6 percentage points from October, up 0.8 percentage points from the year ago levels, and the highest November rate in 10 years. API’s latest refinery operable capacity was 17.805 million barrels per day.
Crude oil stocks ended the month at 374.9 million barrels, up 0.3 percent from the last year. These were the second highest November inventories in 84 years, since 1930. Stocks of motor gasoline fell 3.9 percent from last year to their lowest inventories in six years at 208.3 million barrels. Stocks of distillate, jet fuel and “other oils” all fell from year ago levels.
API is a national trade association that represents all segments of America’s technology-driven oil and natural gas industry. Its more than 625 members – including large integrated companies, exploration and production, refining, marketing, pipeline, and marine businesses, and service and supply firms – provide most of the nation’s energy and are backed by a growing grassroots movement of more than 25 million Americans. The industry also supports 9.8 million U.S. jobs and 8 percent of the U.S. economy, delivers $84 million a day in revenue to our government, and, since 2000, has invested over $2 trillion in U.S. capital projects to advance all forms of energy, including alternatives.
File Type: pdf | File Size: 117884
File Type: pdf | File Size: 84968To read more or comment...
From Jackson Kelly PLLC on Thursday:
Jackson Kelly PLLC attorney Elizabeth B. Elmore was appointed as the head of the Akron law firm's Oil and Gas Industry group.
Elmore is a Member of the Firm and Co‑Leader of the Land and Natural Resource Development Practice Group. With more than 20 years of legal experience, Elmore focuses her practice on energy law, including claims of underpayment of royalties, joint ventures between producers for the acquisition and development of oil and gas leases and rights of way for pipeline systems.
Jackson Kelly was recently named the 2015 U.S. News – Best Lawyers® “Law Firm of the Year” for Mining Law. Jackson Kelly was the first law firm to ever receive this honor by being named “Law Firm of the Year” for Mining Law in U.S. News – Best Lawyers® 2011-2012.To read more or comment...
From the Ohio Oil and Gas Association today:To read more or comment...
Chesapeake Energy Corp,the Oklahoma-based firm is the No. 1 driller in Ohio.
Rig Count Interactive Map by Baker Hughes, an energy services company.
Shale Sheet Fracking, a Youngstown Vindicator blog.
The Ohio Environmental Council, a statewide eco-group based in Columbus.
Earthjustice, a national eco-group.
People's Oil and Gas Collaborative-Ohio, a grass-roots group in Northeast Ohio.
Concerned Citizens of Medina County, a grass-roots group.
No Frack Ohio, a Columbus-based grass-roots group.
Fracking: Gas Drilling's Environmental Threat by ProPublica, an online journalism site.
Pipeline, blog from Pittsburgh Post-Gazette on Marcellus shale drilling.
Allegheny Front, environmental public radio for Western Pennsylvania.