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Targa Resources Strikes $925 Million Deal with Stonepeak
January 18, 2022
Targa Resources Corp. has executed agreements to repurchase interests in its development company joint ventures (DevCo JVs) from investment vehicles affiliated with Stonepeak Partners for approximately $925 million. Targa had approximately $3.2 billion of available liquidity and intends to fund
Cruz’s Nord Stream 2 Sanctions Bill Fails in U.S. Senate
January 18, 2022
The U.S. Senate on Thursday failed to pass a bill to slap sanctions on Russia’s Nord Stream 2 natural gas pipeline sponsored by Republican Senator Ted Cruz, a day after Democrats unveiled their own legislation. The tally was 55 in
U.S. Drillers Add Most Oil and Gas Rigs in a Week Since April
January 17, 2022
U.S. energy firms last week added the most oil and natural gas rigs in a week since April as rising oil prices prompt more drillers to return to the wellpad. The oil and gas rig count, an early indicator of
Alaska Lawmakers Rip Biden’s Bid to Scrap Trump-era Expansion of Drilling in Alaska
January 17, 2022
Although there seems little Alaska’s top lawmakers can do, Gov. Mike Dunleavy and the entire D.C. delegation issued statements today condemning the Bureau of Land Management’s intention to close millions of acres of the National Petroleum Reserve-Alaska, which has in
Collateral Damage in the Energy Transition: Government Revenue
January 17, 2022
As the world shifts to a greener future, the fossil fuel industry is often quick to point out that communities reliant on oil, gas and coal production risk being left in the lurch. If the industry disappears, it argues, it
Creedence and Locus Bio-Energy Solutions Ink Distributorship Agreement for Biosurfactant Technology
January 17, 2022
In support of efforts to produce low-carbon barrels of oil and enhance the economics of North Dakota’s oil & gas industry, Creedence Energy Services has signed an agreement with Locus Bio-Energy Solutions to become the exclusive distributor of ESG-friendly, revenue-boosting
EIA Predicts Record U.S. Oil Production in 2023
January 14, 2022
Amid talks of climate change and a future of electric vehicles, a recent forecast suggests 2023 U.S. oil production will surpass the 2019 record. The U.S. Energy Information Administration released the forecast this week, predicting U.S. oil production will average
API Urges Administration and Congress to Adopt Policies to Strengthen American Energy Leadership
January 13, 2022
During its annual State of American Energy event, API called on Congress and the administration to adopt policies to strengthen American energy leadership while building on the progress the U.S. has made in reducing emissions to generational lows. At a
DOE Approves Fourth Release of Crude Oil from Strategic Reserves to Shell
January 13, 2022
The U.S. Department of Energy (DOE) approved a fourth exchange of 870,000 barrels of crude oil for release to Shell Trading (US) Company from the Strategic Petroleum Reserve (SPR). This release falls under the authorization published in the DOE announcement
Illinois Court Vacates Approval of Dakota Access Pipeline Capacity Expansion
January 13, 2022
An Illinois appellate court on Wednesday vacated approval given by the Illinois Commerce Commission (ICC) to allow the expansion of the Dakota Access oil pipeline capacity up to 1.1 million barrels per day. The Dakota Access Pipeline (DAPL) can transport
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