Tag: Record
Permian Basin smashes production record from 1973 by 25 million barrels
Permian production peak will push U.S. to new record liquids production by end of 2018 The prolific Permian Basin, a mature hydrocarbon ‘super basin’ located in west Texas and southeastern New Mexico, reached a new oil-production record of 815 million barrels or more* in 2017—far exceeding its previous peak of 790 million barrels set in […]
Alberta renewable auction sets Canadian record at 3.7 cent per kw/h average
By 2030, program expected to attract at least $10 billion of investment Three companies have been chosen in the opening round of the Renewable Electricity Program, which will result in about $1 billion of private-sector investment in green power generation in Alberta. The successful bids have set a record for the lowest renewable electricity pricing […]
Alberta wholesale electricity prices in 2017 set record for $0 hours
Since 2000, 92 per cent of $0 hours occurred early in morning As of 31 July, Alberta has already experienced a record 41 hours of wholesale electricity prices at $0 per megawatt hour (MW/h), according to a National Energy Board press release. The previous record was 39 hours for all of 2012. A $0 hour is […]
Oil sands giant Suncor repays US $1.25 billion bond early, buys back $2 billion of shares
Suncor announced plans to repurchase up $2 billion of the company’s shares over next twelve months, together with an early repayment of a $1.25USD billion bond, according to a press release. “Our business continues to deliver strong cash flow even at current commodity prices,” said Steve Williams, Suncor president and CEO. “We have made commitments […]
Seven Generation Energy achieves record production in 2016
Planned capital spending between $1.5 and $1.6 billion Seven Generations Energy Ltd.’s first quarter production averaged 153,100 boe/d, up 73 per cent and setting a quarterly record, according to a press release. With record quarterly production and stronger commodity prices, funds from operations set a record at $272.3 million or 75 cents per share, an increase […]
Record US refinery runs fail to lift crude oil prices: Kemp
US has become increasingly important refinery hub for western hemisphere and Atlantic basin By John Kemp US refineries processed a record volume of crude last week, making a small dent in the country’s bloated crude stocks but resulting in a big build-up of refined product inventories. US refineries have ramped up crude processing by 1 […]
US ethanol exports rise 26% in 2016 to second-highest level on record
Brazil surpassed Canada as top destination for US fuel ethanol exports, receiving 267 million gallons in 2016 The United States exported more than 1 billion gallons (68,000 barrels per day) of fuel ethanol in 2016, an increase of 26 per cent from export levels in 2015, according to the US Energy Information Administration. US imports of […]
Warm US weather leads to first ever Feb. natural gas storage injection
Net injection of 7 Bcf during the week ending Feb. 24, 2017, was extremely rare Warmer than normal weather throughout much of the United States resulted in the first recorded net natural gas injection during a week in Feb. since weekly storage data has been collected, according to the US Energy Information Administration. For the […]
Texas wind generation output tops 17,000 MW in ERCOT region
More than 17,000 MW of installed wind generation capacity serving the ERCOT system Wind generation set a recently, providing more than 15,000 megawatts of the electricity used in the ERCOT region for the first time ever. Specifically, the ERCOT system used 15,033 MW of electricity from wind at 12:35 p.m. on Sunday, Nov. 27, representing […]
Hedge funds turn bearish on oil at record rate: Kemp
Oil traders, hedge funds betting OPEC will fail to reach a production deal at next meeting at end of Nov. By John Kemp LONDON, Nov 15 (Reuters) – Hedge funds turned bearish towards oil prices at the fastest rate on record in the first week of Nov. amid growing doubts about whether OPEC will reach a […]
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