Watching Government: A new COGCC gets to work

A reconstituted Colorado Oil & Gas Conservation Commission went to work on May 21 developing regulations under the state’s new oil and gas law, SB 19-181, following Gov. Jared Polis’s (D) appointments 4 days earlier of seven members for terms expiring July 1, 2020. They represent a wide range of specific interests. Source: News


Aramco, Sempra sign large LNG deal

Sempra Energy and Saudi Aramco announced their respective subsidiaries—Sempra LNG and Aramco Services Co.—have signed a heads of agreement that anticipates the negotiation and finalization of a definitive 20-year sale-and-purchase agreement covering 5 million tonnes/year of LNG from the Port Arthur export project under development. Source: News


First quarter earnings weighed down by lower oil prices, weaker margins

A group of 56 US-based oil and gas producers and refiners reported a combined net income of $8.1 billion for this year’s first quarter, down nearly 50% from earnings in last year’s first quarter. Collective revenues totaled $227.6 billion, flat with revenues a year ago. Source: News


Balancing risk and innovation

The offshore deepwater segment of the oil and gas industry is seeking transformative technologies from sources both inside and outside of the industry and working to refine the ways in which it partners with smaller companies and balances risk. Source: News


Baker Hughes: Canada adds 15 rigs for the week

Canada has added 15 rigs for the week ended May 24, according to Baker Hughes data. With 78 rigs running, the count is slightly less than the 81 units drilling this week a year ago. The number of oil-directed rigs in Canada increased by 16, bringing the count to 38 rigs for the week. Gas-directed […]


Dual-target, Mol Norge-operated well comes up dry

Mol Norge will plug exploration well 3/7-11 S, which was targeting the Vinstra and Otta prospects in PL539 in the North Sea. Both targets were dry, reported partner Lundin Norway AS. The well was drilled by the Rowan Viking jack up rig 7 km southwest of Trym field on the eastern side of the Mangal […]


Association heads laud EPA’s cost-benefit analysis memo

Oil and gas associations responded favorably to US Environmental Protection Agency Administrator Andrew R. Wheeler’s May 13 memorandum stating that the agency should ensure its regulatory decisions are “rooted in sound, transparent, and consistent approaches to evaluating benefits and costs.” Source: News


Delek plots Krotz Springs refinery improvements

Delek US Holdings Inc. will invest $150 million in a series of projects over the next 5 years to improve operations at its 74,000-b/sd refinery in Krotz Springs, La. The proposed enhancement projects at the refinery will include infrastructure improvements, plant construction and renovations, and installation of new machinery and equipment, the Louisiana Economic Development […]


Collaboration needed to meet Mexico’s hydrocarbon ambitions

While there hasn’t been a dramatic change for the energy industry in Mexico since President Andres Manuel Lopez Obrador took office in 2018, progressive collaboration between the industry and country regulators is needed to fulfill the country’s hydrocarbon ambitions. Source: News