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U.S. Drillers Add Oil, Gas Rigs for a Record 23 Months
June 27, 2022
U.S. energy firms this week added oil and natural gas rigs for a second week in a row, in a record 23-month streak of increases, as high crude prices and prodding by the government prompted drillers to return to the
Biden Admin Considers Banning All Offshore Drilling as Energy Crisis Worsens
June 27, 2022
The Biden administration is mulling the prospect of banning new American offshore oil and natural gas drilling projects as fuel prices continue to spike, The New York Times reported Thursday. The Interior Department’s Bureau of Ocean Energy Management, working closely
BP to Sell Stake in Sunrise Oil Sands Project to Cenovus Energy for $929 Million
June 27, 2022
BP has agreed to divest its 50 percent stake in the Sunrise oil sands project in Canada to Cenovus Energy in exchange for payments up to C$1.2 billion ($929.1 million) and the latter’s 35 percent stake in the offshore Bay
BKV and EnLink Midstream Partner on Carbon Sequestration Project in the Barnett Shale, Texas
June 27, 2022
BKV Corporation and EnLink Midstream have reached a Phase I Final Investment Decision (FID) and entered into a definitive agreement to develop a carbon capture and sequestration (CCS) project in the Barnett Shale region of North Texas. “It is critical
The New Joe Biden – Friend of American Industry?
June 24, 2022
In recent months, President Biden has undertaken several measures he claims will encourage domestic drilling, mining, and manufacturing. It’s a big change from 2021 when he offered next to nothing for these sectors. But his new agenda won’t make any
Biden Administration Delays Oil and Gas Lease Sales Again Amid Environmental Protest
June 23, 2022
The Biden administration delayed multiple oil and gas lease sales a second time late last week amid an ongoing protest from environmental groups opposing the sales. The Bureau of Land Management (BLM), the agency tasked with overseeing oil and gas
Study Advocates for Higher Royalty Rates on Oil and Gas, but Industry Says it Will Hurt Production
June 23, 2022
A new study shows that oil and gas companies would have paid billions of dollars more to the federal government had royalty rates been set at higher levels nine years ago. Just this year, the Biden administration raised royalty rates
Enbridge Advancing Construction of Natural Gas Pipeline to Venture Global’s Plaquemines LNG Facility
June 22, 2022
Enbridge Inc. said it will advance its Venice Extension Project and Gator Express Meter Project to deliver 1.5 billion cubic feet per day of natural gas to Venture Global’s Plaquemines LNG facility located in Plaquemines Parish, Louisiana. The projects generally
Tullow Oil to Acquire Capricorn Energy in $827 Million All-share Deal
June 22, 2022
West Africa-focused Tullow Oil will acquire Capricorn Energy in an all-stock deal valued at 656.9 million pounds ($826.7 million), the London-listed energy groups said on Wednesday, as they focus on the reserve-rich African region. Investors in Capricorn, formerly known as
Matador to Acquire Summit’s Lane Gathering and Processing System for $75 Million, New Mexico
June 22, 2022
Matador Resources’ wholly-owned subsidiary has entered into a definitive agreement with Summit Midstream Partners to acquire Summit’s Lane Gathering and Processing System in Eddy and Lea Counties, New Mexico for $75 million. In connection with the transaction, the company will
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