The Sture oil terminal in western Norway was shut and evacuated early Nov. 8 after a Maltese oil tanker and a Norwegian military frigate collided in this key North Sea oil port. Rystad Energy anticipates that 365,000 b/d of oil production will be shut in for several days before the terminal is again ready to […]
Saddlehorn, ARB launch open season Colorado to Cushing
Saddlehorn Pipeline Co. LLC and ARB Midstream LLC have launched an open season for crude oil transportation commitments for a joint tariff from the future Matador pipeline through the Saddlehorn pipeline to Cushing, Okla. Source: News
Lone Star to build seventh NGL frac facility, expand pipeline
Lone Star NGL LLC, a subsidiary of Energy Transfer LP, Dallas, will construct a seventh natural gas liquids fractionation facility at Mont Belvieu, Tex., and expand the Lone Star Express Pipeline providing capacity for transportation commitments secured form the Delaware and Permian basins. Source: News
WGP to buy Anadarko’s midstream assets in $4-billion deal
Western Gas Partners LP (WGP) has agreed to acquire from Anadarko Petroleum Corp. substantially all Anadarko’s remaining midstream assets in a deal totaling $4.015 billion. Concurrently, WGP has agreed to a merger with Western Gas Equity Partners LP (WGEP), simplifying its midstream structure. Source: News
MARKET WATCH: NYMEX crude settles below $62/bbl on higher inventory
Rising US oil inventories caused light, sweet crude prices to drop modestly on the New York market, settling below $62/bbl on Nov. 7. Brent crude oil prices in London fell slightly to hold above $72/bbl on Nov. 7. Source: News
Washington voters defeat another levy on emissions of CO2
Large among losers in US midterm elections Nov. 6 is the assertion that Americans yearn to let others spend their money in response to climate change. Source: News
Five areas draw bids in Newfoundland and Labrador license round
The Canada-Newfoundland and Labrador Offshore Petroleum Board received high bids totaling nearly $1.4 billion (Can.) for exploration licenses covering four areas in the Eastern Newfoundland Region and one area in the Jeanne d’Arc Region in a round of scheduled bidding that ended Nov. 7. Source: News
Vantage to acquire QEP’s Williston basin assets in $1.7-billion deal
QEP Energy, a wholly owned subsidiary of QEP Resources, has agreed to sell all its assets in the Williston basin in North Dakota and Montana, which includes the South Antelope and Fort Berthold leasehold and various mineral interests, to Vantage Acquisition Operating Co., a subsidiary of Vantage Energy Acquisition, for as much as $1.725 billion. […]
EIA forecasts higher US crude oil production, lower prices
US crude oil production reached 11.3 million b/d in August and was 290,000 b/d higher than expected, according to the US Energy Information Administration’s latest Short-Term Energy Outlook. This higher level of production raised the baseline for EIA’s forecast for 2019 crude oil production, and EIA now expects US crude oil production to average 12.1 […]
TAG to sell New Zealand assets, operations
TAG Oil Ltd., Vancouver, BC, along with certain subsidiaries in New Zealand, has agreed to sell substantially all its Taranaki basin assets and operations in New Zealand to Tamarind Resources Pte. Ltd., Kuala Lumpur, and certain subsidiaries. The sale would include TAG’s 100% working interests in PMP 38156 (Cheal and Cardiff), PMP 53803 (Sidewinder), PMP […]