Production

Harbour Energy acquisition of Shell UK North Sea assets for $3 Billion

Energy Financial

Acquisition of portfolio creates leading UK Independent E&P company focused on North Sea Harbour Energy, Ltd., the energy investment vehicle managed by EIG Global Energy Partners, announced it agreed to lead the acquisition by Chrysaor Holdings Limited of a well-diversified portfolio of oil and natural gas assets from Shell U.K. Limited and its affiliates to […]

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US natural gas market tightens despite exceptionally mild winter: Kemp

News

Increasing underlying demand for gas from power producers should support prices at relatively firm level By John Kemp LONDON (Reuters) – Warm weather has masked how much the underlying supply and demand picture for US natural gas has tightened this winter thanks to lower production and strong exports. The winter heating season of 2016/17 has

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Permian Basin to drive up shale oil production by 80,000 b/d in March

USA

Permian and Eagle Ford rank first and third respectively as most productive US shale plays for crude oil By Matt Mandel, EnergyInDepth The latest US Energy Information Administration (EIA) drilling productivity report projects US shale oil production will increase by roughly 80,000 barrels per day (bpd) in March, with 70,000 bpd produced in Texas’ Permian

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Jan. US natural gas production lowest in nearly 3 years

News

“The only Texas bright spot has been West Texas Permian production.” – Jack Weixel Lower-48 US natural gas production averaged 70.2 billion cubic feet per day (Bcf/d) during Jan. 2017, marking the lowest monthly production level recorded  since June 2014, according to analysis from IHS Markit. Jan. production represented the second consecutive monthly decline for US

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How Shell boosted production at Scotford Refinery by 20%

Canada

Scotford Refinery processes 100,000 barrels per day of crude oil In early Dec., Shell Canada’s super-efficient Scotford refinery “cracked” through a new production ceiling, according to a press release from the Canadian Fuels Association. A major project to enhance Scotford’s hydrocracker production capacity by 20 percent was completed in just under a year and a half,

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Oil/gas producing state economies improve: US Regional Economic Outlook

News

Continued recovery outlook in labor markets; strong growth in the Sunbelt expected Excerpts from IHS global insight principal economist Karl Kuykendall’s special report US regional economic predictions for 2017, according to IHS Markit. The South and West will experience the fastest economic growth: Long-term demographic trends are a big reason for this swift economic growth,

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Annual US natural gas production declines first time in 11 Years – IHS Markit

News

2016 natural gas production ends with first annual decline since start of the shale revolution The 2016 annual gas production average for the US lower-48 states fell for the first time in 11 years—since the shale revolution began—according to analysis from IHS Markit. IHS Markit said US natural gas production averaged 72.1 billion cubic feet

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