Senate unanimously approves pipeline safety reauthorization bill

The US Senate unanimously passed S. 2276, which would reauthorize the US Pipeline and Hazardous Materials Safety Administration through fiscal 2019 while requiring the US Department of Transportation agency to finishing implementing mandates from the 2011 reauthorization bill. Source: News

Corey Riley named Riley Exploration president

Corey Riley has been named president of privately held Riley Exploration Group, a portfolio company of Yorktown Energy Partners based in Blanchard, Okla. Source: News

Manitok adds gas processing capacity in southeast Alberta

Manitok Energy Inc., Calgary, has entered an agreement with an undisclosed seller for the purchase natural gas processing and production assets in the Carseland area of its conventional oil and gas reservoirs in southeast Alberta’s Entice lands. Source: News

MARKET WATCH: NYMEX oil prices stay flat, April natural gas price falls

Light, sweet crude oil prices for April delivery on the New York market traded relatively flat on Mar. 3, ending the day down 9¢/bbl. Meanwhile, US natural gas futures dropped nearly 4¢/MMbtu after a weekly report showed a continued high level of gas in underground storage across the Lower 48. Source: News

Price pressure on oil exporting countries mounting, Senate panel told

Economic pressure on crude oil exporting countries is likely to increase if prices remain depressed, two economists told the US Senate Foreign Relations Committee. The US and other major consuming nations will need to consider possible policy adjustments before significant problems developed, they said on Mar. 2. Source: News

Economist: Industry ‘bloodletting’ to continue in Texas

Dramatic decreases in Texas upstream oil and gas industry economic indicators—even crude oil production—suggest a continued “bloodletting” in 2016, an economist indicated this week. Source: News