The US drilling rig count fell 6 units, reaching 969 rigs working for the week ended June 14, according to Baker Hughes data. The count is down 90 units from the 1,059 rigs working this time a year ago. Source: News
Russia’s Kharyaga field starts gas sales
Zarubezhneft and production-sharing partners have started sales of associated sour gas at Kharyaga oil field in the Nenets Autonomous Region of northwestern Russia. Source: News
WoodMac: Argentina LNG poised to meet Asian demand
Rising natural gas production in Argentina coupled with competitive global LNG transportation costs are expected to position the country as an emerging source of gas supply to Asia during peak demand periods, recent research from Wood Mackenzie shows. Source: News
IEA consecutively cuts oil demand growth forecast
In its latest monthly Oil Market Report, the International Energy Agency cut its forecast for global demand growth in 2019 for a second consecutive month. It is now projected at 1.2 million b/d, reduced from 1.3 million b/d in the previous report and 1.4 million b/d in the April report. Source: News
Husky fined for 2016 Saskatchewan oil spill
Husky Oil Operations entered guilty pleas June 12 on federal and provincial charges related to a 2016 oil spill in Saskatchewan and will pay fines totaling $3.82 million. Husky was fined $2.5 million under the federal Fisheries Act and $200,000 for a violation of the federal Migratory Birds Convention Act. It was fined $800,000 under the […]
MARKET: Oil prices rise on tanker attacks
Oil futures rallied on the New York and London markets June 13 following attacks on two oil tankers near the Strait of Hormuz although crude settlements failed to completely recover from the previous trading session losses of more than $2/bbl. Source: News
CSB: Operational lapses led to well blowout, fire
Poor barrier management combined with underbalanced operations performed without proper planning, procedures, or needed equipment to make an Oklahoma natural gas well blow out and catch fire on Jan. 22, 2018, killing five workers in the driller’s cabin on the rig floor, a US Chemical Safety Board investigation concluded. Source: News
EPA chief extends emergency fuel waivers in Pennsylvania
US Environmental Protection Agency Administrator Andrew R. Wheeler extended temporary emergency fuel waivers on June 12 for Allegheny County, Pa. The waivers were due to expire on June 17. Source: News
Callon closes sale of noncore Midland assets
Callon Petroleum Co., Natchez, Miss., has closed on the sale of noncore assets in the southern Midland basin to Sequitur Permian LLC for net cash proceeds of $245 million. Proceeds do not include potential contingent consideration payments of up to $60 million based on West Texas Intermediate average annual pricing over 3 years. Source: News
CAPP: Canadian crude output growth slowing
Canadian production of crude oil and condensate will increase through 2035 but at rates sharply lower than predicted before the crude-price slump of 2014-15 and the onset of problems associated with pipeline congestion. In its annual outlook for crude oil, the Canadian Association of Petroleum Producers projects total Canadian production of 5.86 million b/d of […]