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Helix to Revise Financial and Operational Performance Guidance for 2020
April 1, 2020
Helix Energy Solutions Group said, in light of the current, significant macroeconomic uncertainty resulting from the recent decline in oil prices and the ongoing COVID-19 crisis, it is withdrawing its previously issued financial and operational performance guidance for 2020. “We
Judge Upholds Trump’s Repeal of Obama-era Fracking Rule
March 31, 2020
A federal judge on Friday upheld the Trump administration’s decision to repeal an Obama-era rule that established standards for hydraulic fracking on federal land. California and several environmental groups sued over the repeal, claiming it was unlawful. California particularly claimed
Wyoming Governor Gordon Approves Mineral Tax Break for Oil and Gas Industry
March 31, 2020
In the midst of unprecedented volatility in the global oil market, shale producers in Wyoming received a small boost Friday in the form of tax relief. Gov. Mark Gordon signed into law a bill providing reductions in state mineral taxes
Canadian Crude Plummets to US$5 a Barrel as Oilpatch Awaits Federal Bailout
March 31, 2020
As the oilpatch awaits a bailout from the federal government, the price of Canadian crude plunged to a new historic low of US$5 per barrel Friday. The industry has been left staggering in recent weeks thanks to the double whammy
Sempra’s ECA LNG Project to Move Ahead, Mexico
March 30, 2020
Sempra Energy said that it will continue to move ahead with the development of phase 1 of the Energía Costa Azul LNG liquefaction-export project (ECA LNG project) in Mexico amid the coronavirus crisis. The energy infrastructure company expects to make
Senators Decry Saudi ‘Economic Warfare’ as Oil Crisis Squeezes US Shale Operators
March 30, 2020
In Washington’s strongest response yet to the unfolding oil crisis sparked by Saudi Arabia and Russia, a group of Republican senators have demanded action over what they term “economic warfare” by the two oil giants against the US as shale
NV5 Global Secures $8 Million LNG Contracts in U.S.
March 30, 2020
NV5 Global has secured two new contracts for liquefied natural gas (LNG) projects from two prominent Eastern natural gas utilities in the US. The two new contracts are valued at $8 million. NV5 has bagged an engineering, procurement, and construction
Aker Solutions Secures 20-year Umbilicals Contract from Chevron, Gulf of Mexico
March 30, 2020
Norwegian engineering company Aker Solutions has signed a 20-year master agreement with the US oil and gas company Chevron. Under the contract, Aker will be responsible for the delivery of umbilicals for oil and gas fields in the US Gulf
Minnesota and Wisconsin Frac Sand Mines Crushed By Oil Industry Shifts
March 30, 2020
Frac sand miner Jordan Sands in North Mankato was pushed into receivership recently after its banker declared a loan default. A few months earlier, Minnesota’s largest frac sand producer by far, the Kasota mine near St. Peter, was idled. In
Baker Tilly to Acquire Oil and Gas Business Solutions, Expands Client Accounting Services
March 27, 2020
Baker Tilly Virchow Krause to acquire Oil and Gas Business Solutions (OGBS), a Dallas-based firm specializing in complex and unique bookkeeping and back office services in the oil and gas upstream sector. Founded 50 years ago, OGBS serves small and
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