The American Fuel & Petrochemical Manufacturers, American Petroleum Institute, and three other national trade associations asked Republican leaders on Nov. 19 not to extend or expand the federal tax credit for electric vehicles (EV) during the rest of this session of the US Congress.
US President Donald Trump said he intends to nominate acting US Environmental Protection Agency Administrator Andrew R. Wheeler as the agency’s administrator. The announcement came during a Nov. 16 Medal of Freedom ceremony at the White House attended by Wheeler and other administration officials.
Aethon III, a unit of Dallas private investment firm Aethon Energy Management LLC, agreed to buy Haynesville-Cotton Valley natural gas assets from QEP Resources Inc. of Denver. QEP Pres. and Chief Executive Officer Chuck Stanley said the pending $735-million sale is “an important next step in our process of becoming a Permian pure-play company.”
Cimarex Energy Co., Denver, agreed to acquire Resolute Energy Corp. in a cash-stock transaction worth a total of $1.6 billion, including $710 million of Resolute’s long-term debt. Thomas E. Jorden, Cimarex chairman, president, and chief executive officer, said the acquisition fits the company’s existing Reeves County, Tex., position in the Permian basin.
The International Association of Geophysical Contractors launched a web site on Nov. 16 making a case for reforms in the 1972 Marine Mammal Protection Act to remove bureaucratic barriers to federal oil and gas leasing along the Mid-Atlantic US Outer Continental Shelf. The web site identifies specific MMPA flaws, including overlapping and burdensome regulations, lack […]
The US Federal Energy Regulatory Commission issued draft environmental impact statements (EIS) for two proposed LNG export operations: one for Eagle LNG Partners’ project near Jacksonville, Fla., and another for Kinder Morgan Inc.’s Gulf Liquefaction Project in Jackson County, Miss.
Novatek-Yurkharovneftegas discovered natural gas in the Nyakhartinskiy license area of Russia’s Yamalo-Nenets Autonomous Area. The PO-1 exploration well flowed more than 300,000 cu m/day of natural gas and condensate from Lower Cretaceous sediments, according to Novatek, of which the operator is a wholly owned subsidiary.
TransGlobe Energy plans to develop an oil discovery made by its South Ghazalat (SGZ) 6X exploration well in Egypt’s Western Desert. During tests, the well flowed at a combined rate of 3,840 b/d of light oil from Late Cretaceous Upper and Lower Bahariya intervals.
Light, sweet crude oil prices settled Nov. 16 at $56.46/bbl, unchanged from the previous day and having stabilized to end a week of steep price swings, including one day in which the crude price fell more than $4/bbl on both the New York and London markets.
Oil production from Thai company PTTEP’s Montara field in the Timor Sea has been halted following several potentially injurious safety incidents and cannot resume until cleared by Australia’s offshore safety regulator, the National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA).
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