Brent crude oil for December settled under $80/bbl on the London market Oct. 18 while light, sweet oil for November and December settled under $69/bbl in New York. The Oct. 18 Brent settlement was the lowest since Sept. 21. Earlier this month, Brent briefly reached above $85/bbl although it failed to settle at that level. […]
PGNiG to acquire Tommeliten interests from Equinor
PGNiG will acquire non-operated interests in the Tommeliten discovery on the Norwegian Continental Shelf from Equinor for $220 million. Equinor will divest its 42.38% interest in the Tommeliten Unit (PL 044 TA) and 30% interest in PL 044. Both are operated by ConocoPhillips. Source: News
BP starts production from Thunder Horse Northwest expansion project
BP PLC has started production from the Thunder Horse Northwest expansion project in the deepwater Gulf of Mexico, boosting production at the Thunder Horse facility by an estimated 30,000 boe/d at its peak and taking gross output from the oil field to more than 200,000 boe/d. Source: News
Talos, Hokchi to cross-assign interests in two blocks off Mexico
Talos Energy Inc., Houston, entered into a transaction with Hokchi Energy SA de CV, a subsidiary of Pan American Energy LLC, to cross-assign its participating interest (PI) in Block 2 and Hokchi’s PI in Block 31. Both blocks are in the Sureste basin offshore Mexico. Source: News
Another attempt by Samson to sell Foreman Butte project falls through
Samson Oil & Gas USA Inc. remains in discussions with Eagle Energy Partners I LLC, but also is seeking an alternate buyer for substantially all its Foreman Butte project after a $40-million agreement with Eagle Energy expired on Oct. 15. Source: News
JupiterMLP secures funding to advance Permian-to-GC oil line
JupiterMLP LLC has secured enough funding from Charon System Advisors to build the 1 million-b/d capacity Jupiter Pipeline from the Permian basin to the Port of Brownsville, Tex., and will hold an open season for remaining capacity in November. Source: News
EPA: US reports GHG emissions in 2017 down 2.7% from 2016
US reported greenhouse gas emissions totaled 2,898 million tonnes of carbon dioxide equivalent, 2.7% less than in 2016, the US Environmental Protection Agency reported on Oct. 17. The direct emissions data from 7,544 facilities in nine energy sectors as of Aug. 19 represent about half of the nation’s total GHG emissions, it said. Source: News
MARKET WATCH: Oil prices drop on surprise build in US oil inventory
Light, sweet oil prices settled under $70/bbl, down more than $2 on the New York market Oct. 17 compared with the previous day after a government report showed an unexpected rise in the US crude oil inventory, excluding the Strategic Petroleum Reserve. Source: News
Noreco to buy Shell Denmark upstream unit for $1.9 billion
Norwegian Energy Co. ASA (Noreco) has acquired from Royal Dutch Shell PLC the company’s upstream interests in Denmark via its shares in Shell Olie-og Gasudvinding Danmark BV (SOGU) in a deal valued at $1.9 billion. SOGU, a wholly owned Shell subsidiary, holds a 36.8% non-operating interest in the Danish Underground Consortium (DUC). Source: News
Crimson Midstream, MPLX launch open season for Swordfish line
Crimson Midstream and MPLX have launched a binding open season to assess interest and solicit commitments from prospective shippers for crude oil transportation service on the Swordfish Pipeline. The pipeline is being developed to connect existing terminal facilities in St. James, La., and Raceland, La., to the Louisiana Offshore Oil Port terminal facility in Clovelly, […]