By - Jim Vess

Drill rigs operating in the U.S. fall below 900 for the first time since 2017

Energize Weekly, September 11, 2019 The number of oil and gas rigs operating in the U.S. – on land and offshore – fell in September to less than 900 for the first time since 2017, according to the Baker Hughes North American Rig Count. There were 898 rigs operating on Sept. 6 the weekly survey, by the Houston-based oilfield services

By - Jim Vess

New takeaway pipeline capacity bolstering natural gas prices in Texas’ Permian Basin

Energize Weekly, September 11, 2019 Natural gas prices in the Permian Basin are being bolstered as new takeaway pipeline capacity is opening in the western Texas fields. The natural gas price at the Waha Hub in western Texas reached $1.55 per million British thermal units (MMBtu) on Aug. 15, the highest price in nearly six months. “This price increase coincides

By - Jim Vess

Colorado oil and gas operators wary of new rules, Gov. Polis says oil prices will determine whether to drill or not

Energize Weekly, September 4, 2019 The Colorado oil and gas industry is facing uncertain times as new state and local drilling regulations take hold, industry executives say, even as the state’s governor, Jared Polis, dismisses those concerns. That was the divide in sharp display the Colorado Oil and Gas Association’s (COGA) annual conference in Denver, Aug. 28. The concerns stem

By - Jim Vess

U.S. increases in oil and gas production in 2018 among the largest in history, EIA says

Energize Weekly, August 28, 2019 The U.S. had one the largest absolute increases in oil and natural gas production for a single country in history in 2018, according to the federal Energy Information Administration (EIA). In 2011, the U.S. had already surpassed Russia as the world’s largest producer of natural gas, and in 2018, it overtook Saudi Arabia as the

By - Jim Vess

U.S. shale drillers post positive cash flow for the first time on record in Q2, Rystad says

Energize Weekly, August 28, 2019 Major U.S. shale operators, thanks to strong oil prices and more efficient operations, posted a sharp turnaround in the second quarter of 2019, showing positive cash flow for the first time on record, according to Rystad Energy, an Oslo-based energy consultant. In the second quarter, 35 percent of the 40 dedicated U.S. shale companies Rystad

By - Jim Vess

Worldwide coal and natural gas consumption rose in 2017, so have carbon dioxide emissions

Energize Weekly, August 21, 2019 World energy production – spurred by coal and natural gas – was up 2.2 percent in 2017 to 14,035 million tons oil equivalent (Mtoe) when compared to 2016, according to the International Energy Agency (IEA). Coal and natural gas output were each up by more than 120 Mtoe in 2017. Coal’s share was 1 percent

By - Jim Vess

Daily natural gas consumption record is set during July heat wave

Energize Weekly, August 14, 2019 A record for daily U.S. natural gas consumption – 44.5 billion cubic feet (Bcf) – was set on July 15 as a heat wave took hold of the Midwest and Eastern Seaboard, according to S&P Global Platts. The previous record of 43.1 Bcf was set on July 16, 2018. During this summer’s heat wave, from

By - Jim Vess

High inventories and high corn prices squeeze ethanol producers’ margins

Energize Weekly, August 14, 2019 High corn prices and high inventories have squeezed operating margins for Midwest ethanol plants to multiyear lows in the first half of 2019, with an average margin of 3.5 cents a gallon, according to the federal Energy Information Administration (EIA). The high prices and inventories led to near zero margins for June and July. Despite

By - Jim Vess

Oil will have to drop to $10/barrel to stay competitive with EVs and renewables, BNP Paribas study says

Energize Weekly, August 14, 2019 The economics for electric vehicles (EVs) and renewable energy charging have become so competitive that in the future, the price of oil will have to be no more than $10 a barrel to compete, according to analysis by Paris-based BNP Paribas. The analysis – Wells, Wires and Wheels – is based on a BNP Paribas-devised

By - Jim Vess

U.S. becomes third biggest LNG exporter as Europe becomes a more important market

Energize Weekly, August 7, 2019 U.S exports of liquefied natural gas (LNG), which have been steadily rising, hit 4.7 billion cubic feet a day in May 2019, as exporters added a growing European market to their Asian base. In 2019, the U.S. became the third largest LNG exporter in the world behind Australia and Qatar, averaging 4.2 billion cubic feet

By - Jim Vess

Investments in the oil and gas sector drop to $16.9 billion in second quarter of 2019

Energize Weekly, July 31, 2019 Investment in the oil sector was $16.9 billion in the second quarter of 2019 – a 36 percent drop year-on-year and down 23 percent from the first quarter of 2019, according to Drillinginfo, an industry data analyst. The industry raised $3.4 billion from public stock offerings, down 19 percent year-on-year, and raised $13.5 billion on

By - Jim Vess

OPEC unplanned outages at their highest in almost four years

Energize Weekly, July 24, 2019 Organization of the Petroleum Exporting Countries (OPEC) unplanned crude oil production outages hit a four-year high in the first half of 2019, according to the federal Energy Information Administration (EIA). The outages averaged 2.5 million barrels a day for the six-month period, the highest level since 2015. Unplanned outages included sanctions, armed conflicts, political disputes,

By - Jim Vess

U.S. crude oil output hit a new peak in April of 12.2 million barrels a day

Energize Weekly, July 17, 2019 U.S. crude oil and petroleum liquids production hit a new record in April of 12.2 million barrels a day, according to the federal Energy Information Administration’s (EIA) Petroleum Supply Monthly. It is the first time U.S. production has surpassed 12 million barrels a day and comes less than a year after domestic production exceeded 11

By - Jim Vess

LNG global building boom faces risk from renewable energy, climate policies, report says

Energize Weekly, July 10, 2019 The natural gas industry is making $1.3 trillion in infrastructure investments to create a global liquefied natural gas (LNG) market but those capital expenditures may be at risk from competitive renewable energy prices and the prospect of climate regulations, according to Global Energy Monitor. The San Francisco-based nonprofit, which tracks worldwide fossil-fuel infrastructure, said that

By - Jim Vess

Oil and gas merger activity rebounds in Q2 2019 as Occidental-Anadarko deal dominates

Energize Weekly, July 10, 2019 Oil and gas industry merger and acquisition (M&A) activity in the second quarter of 2019 saw a rebound from the first quarter’s historic lows reaching $65 billion for the period, according to DrillingInfo, an industry consultant and data analyst. The quarter was dominated by the $57 billion acquisition of Anadarko Petroleum by Occidental Petroleum Corp.,

By - Jim Vess

Global energy subsidies soar to $424 billion in 2018 as oil prices rise

Energize Weekly, June 26, 2019 The value of global fuel subsidies was pushed up to their highest levels in five years, according the International Energy Agency (IEA). IEA data show the estimated value of these subsidies at $424 billion, a 33 percent annual increase. The subsidy estimates for oil, gas and fossil-fuel generated electricity all increased “significantly,” the IEA said.

By - Jim Vess

Big increases in fossil fuel consumption places world on an unsustainable path, BP says

Energize Weekly, June 26, 2019 The strong growth in global energy demand in 2018 is a sign that the world is on an “unsustainable path,” according to the BP Statistical Review of World Energy. Global energy demand was up 2.9 percent and carbon emissions grew by 2 percent in 2018, faster than at any times since 2010-2011, according to the

By - Jim Vess

OPEC imports to the U.S. fall to their lowest level in more than three decades

Energize Weekly, June 19, 2019 U.S. crude oil imports from the Organization of the Petroleum Exporting Countries (OPEC) fell in March to 1.5 million barrels a day, the lowest level in 33 years, based on data from the federal Energy Information Administration’s (EIA) “Petroleum Supply Monthly.” The drop to a level not seen since March 1986 was due to a

By - Jim Vess

Horizontal drilling is key to nearly all oil and gas production from tight formations in 2018

Energize Weekly, June 12, 2019 Horizontal wells accounted for 96 percent of the oil production from tight geological formations, such as shale, in 2018, up from 15 percent in 2004, according to data from the federal Energy Information Administration (EIA). The horizontal wells, with laterals that can run two miles or more underground, also accounted for 97 percent of natural

By - Jim Vess

Refiners to invest $570 billion as they face a host of global uncertainties

Energize Weekly, June 5, 2019 More than $570 billion in new global oil refining investments are set to be made by 2025, raising total capacity by 15 percent to 116 million barrels a day, according to Bloomberg New Energy Finance (BNEF). About 75 percent of the new capacity will be in the Asia-Pacific region and the Middle East, with two-thirds

By - Jim Vess

Shale drillers continue to “burn cash” in the Q1 of 2019 as they face negative cash flow

Energize Weekly, June 5, 2019 U.S. shale oil drillers continue to “burn cash” as they operate with negative cash flows, and while bankruptcies in the sector have cooled with the rebound in oil prices, risks still remain, according to industry analyses. An analysis of 40 shale companies by Oslo, Norway-based Rystad Energy, an independent energy consultant, found that in the

By - Jim Vess

U.S. oil production seen as a moderating force in coping with oil market price volatility

Energize Weekly, May 29, 2019 As costs come down for producing oil from shale plays, U.S. production appears to be playing a larger role in anchoring long-term oil prices, according to a Federal Reserve Bank of Dallas analysis. The combination of shorter lead times between drilling and production and the falling break-even price—the price at which it is profitable to

By - Jim Vess

Global energy investment, after a three-year slide, stabilized in 2018, the IEA says

Energize Weekly, May 29, 2019 After a three-year slide, global energy investment stabilized in 2018 at just more than $1.8 trillion dollars—as spending on oil, natural gas and coal increased, the International Energy Agency (IEA) said. Investments in renewable generation and energy efficiency, however, stalled in 2018, according to the IEA’s World Energy Investment 2019 report. There was a 4

By - Jim Vess

Oil market hit by uncertainties and slow growth, LNG global market faces an imbalance

Energize Weekly, May 22, 2019 The oil market is being roiled by production cuts, political sanctions, slow economic growth and political uncertainty, leading to a market of “mixed signals,” according to the International Energy Agency (IEA). The global market for another key petroleum product, liquefied natural gas (LNG), also looks to be out of balance and subject to geopolitical uncertainties,

By - Jim Vess

Oil demand will see a shift with transportation using less and petrochemicals using more, Barclays says

Energize Weekly, May 15, 2019 Global oil demand—under current economic and energy development trends—is projected to peak between 2030 and 2035 and then plateau through 2050, according to a new analysis by the London-based investment bank, Barclays. That peak could come as early as 2025 if more aggressive energy policies highlighting renewable power and energy efficiency are implemented, the analysis

By - Jim Vess

Biodiesel fuels claiming a bigger share of U.S. soybean oil production

Energize Weekly, May 15, 2019 As the soybean market is roiled by trade disputes between the U.S. and China, the domestic biodiesel fuel industry is taking an increasing share of the country’s soybean oil production, according to federal Energy Information Administration (EIA) data. Biodiesel production absorbed 30 percent of domestic soybean oil, or 7.1 billion pounds, from Oct. 1, 2017,

By - Jim Vess

U.S. ethanol exports set a record with Brazil and Canada as the two biggest markets

Energize Weekly, May 1, 2019 U.S. fuel ethanol exports rose 23 percent year-on-year to 112,000 barrels a day in 2018—an all-time record, according to the federal Energy Information Administration (EIA). At the same time, U.S. fuel ethanol imports were down 30 percent to less than 4,000 barrels a day in 2018, leaving the U.S. a net exporter for the ninth

By - Jim Vess

2019 summer retail gasoline prices slated to be lower than last summer’s, EIA says

Energize Weekly, April 24, 2019 The average summer retail price for regular-grade gasoline in the U.S. will be about 3 percent lower in 2019 than in 2018 at $2.76 a gallon, according to the federal Energy Information Administration (EIA) Summer Fuels Outlook. The cost of gasoline is primarily driven by the cost of crude oil since distribution expenses and taxes

By - Jim Vess

U.S. hit a record for energy consumption in 2018 led by increases in oil and natural gas

Energize Weekly, April 24, 2019 The United States hit a record high 101.3 quadrillion British thermal units (Btu) for primary energy consumption in 2018—surpassing by three-tenths of a percent the previous high in 2007, according to the federal Energy Information Administration (EIA). Energy consumption was up 4 percent from 2017. It was the largest annual increase in terms of percentage

By - Jim Vess

U.S crude production hits record 11 million barrels/day led by Texas and Gulf output

Energize Weekly, April 17, 2019 U.S. crude oil production—driven by Texas output—hit a record average 10.96 million barrels a day in 2018, a 17 percent year-over-year increase, according to the federal Energy Information Administration (EIA). In December 2018, crude oil production reached 11.96 million barrels a day—the highest monthly level of crude production in U.S. history. “U.S. crude oil production

By - Jim Vess

Brazilian LNG-to-power project gets $288 million loan from International Finance Corp.

Energize Weekly, April 10, 2019 A Brazilian liquefied natural gas (LNG) power plant project, developed by an international joint venture, has received a $288 million loan from the International Finance Corporation (IFC), a sister organization to the World Bank. The 15-year loan will cover development and operation of the plant in the state of Rio de Janeiro by Geração de

By - Jim Vess

Colo legislature passes oil and gas bill giving local governments more control over drilling

Energize Weekly, April 10, 2019 The Colorado legislature has passed a sweeping oil and gas bill aimed at giving local government more control over drilling, but only after adding a few industry-friendly amendments. Gov. Jared Polis has indicated he will sign the bill. The legislation, Senate Bill 181, came in response to protests from residents and officials in suburban municipalities

By - Jim Vess

U.S. natural gas consumption set a record in 2018 led by demand from the power sector

Energize Weekly, April 3, 2019 U.S. natural gas consumption—led by demand from the utility sector—rose 10 percent in 2018 to a record 82.1 billion cubic feet per day (Bcf/d), according to data form the federal Energy Information Administration (EIA). While domestic natural gas use rose across all sectors, the sharpest year-on-year increase, 3.8 Bcf/d, was in electricity generation where the

By - Jim Vess

U.S. sets records for natural gas production and exports in 2018

Energize Weekly, March 20, 2019 U.S. natural gas production set records in 2018 for the largest year-on-year increase, 11 percent, and overall production, average 101.3 billion cubic feet per day (Bcf/d), according to the federal Energy Information Administration. Domestic gas production measured as market production and dry-gas production also set records at 89.69 Bcf/d and 83.4 Bcf/d respectively. Market production

By - Jim Vess

Bill overhauling Colorado oil and gas regulations is speeding through the legislature

Energize Weekly, March 13, 2019 A bill aimed at dramatically overhauling regulation of oil and gas operations in Colorado is swiftly moving through the state legislature. The legislation is in response to growing concerns as large fracking operations get closer to suburban development and in the wake of a string of court rulings that knocked down local attempts to deal

By - Jim Vess

Debt load to squeeze shale drillers cash flow and pinch dividends, analysis says

Energize Weekly, March 6, 2019 U.S. shale operators face a cash pinch in 2019 as rising debt servicing will leave them with “barely” enough cash to pay dividends, according to an analysis by Oslo, Norway-based Rystad Energy. “Indebted shale exploration and production companies (E&Ps) spent the second half of 2018 reducing their leverage ratios,” according to the analysis by Rystad,

By - Jim Vess

Midwest polar vortex fuels natural gas demand record and near-record for electricity

Energize Weekly, March 6, 2019 Extreme cold at the end of January pushed Midwest natural gas consumption to record levels and near-record levels for electricity demand on Jan. 31—the single coldest day when temperatures dropped to as low as minus 45 degrees Fahrenheit. Natural gas, the primary heating fuel in the region, hit a record demand of 37.9 billion cubic

By - Jim Vess

Montana-Dakota Utilities to close uneconomical coal plants in favor of gas and wind

Energize Weekly, February 27, 2019 Montana-Dakota Utilities (MDU) said it will close three aging coal-fired generation units in the next three years, replacing the capacity with cheaper natural gas-fired and wind generation. “Low-cost power available on the market, due to low-cost natural gas and increasing wind resources, as well as rising costs to operate these facilities, led to the decision

By - Jim Vess

Global oil production keeps rising in 2019 while demand stays flat, IEA says

Energize Weekly, February 20, 2019 A surge in global oil production while demand remains relatively stable will leave markets struggling to absorb production in 2019, according to the International Energy Agency’s (IEA) monthly market forecast. The IEA raised its estimate for crude oil production growth in 2019 to 1.8 million barrels a day (MBPD) from 1.6 MBPD, while demand growth

By - Jim Vess

U.S. expands reach as world’s top export of ethane, shipping to 10 countries in 2018

Energize Weekly, February 13, 2019 The United States—the world’s top exporter of ethane—increased its reach in 2018, sending the gas, a key feedstock in petrochemical manufacturing, to 10 countries, according to federal data. The U.S. surpassed Norway as the top export of ethane in 2015. Ethane is used in a wide range of products including plastics, antifreeze, detergents and as

By - Jim Vess

Coal and oil all but disappear from New England electricity generation

Energize Weekly, February 13, 2019 Oil and coal, once the dominant sources of electricity generation in New England, have all but disappeared, primarily replaced by natural gas, according to ISO New England, the region’s grid operator. Since 2000, coal’s share of energy production has dropped to 1 percent from 18 percent, and oil is now 1 percent compared to 22

By - Jim Vess

United States set to become a net-energy exporter by 2020 for first time in 67 years

Energize Weekly, February 6, 2019 The United States will become a net-energy exporter by 2020—as crude oil, natural gas and natural gas liquids production surpasses domestic energy consumption, according to a forecast by the federal Energy Information Administration (EIA). The last time the U.S. was an exporter was in 1953. The U.S. has been an exporter of coal and coke

By - Jim Vess

Demand for frac water and wastewater treatment set to soar by 2021, says Rystad Energy

Energize Weekly, January 30, 2019 The demand for water for hydraulic fracturing of oil and gas wells has more than doubled in the last three years and is projected to reach more than 6.3 billion barrels by 2021, according to an analysis by Rystad Energy. Hydraulic fracking sends water, chemicals and sand into wells under pressure to fracture rock and

By - Jim Vess

EIA forecasts oil prices edging up in 2019 while natural gas prices decline

Energize Weekly, January 23, 2019 Brent oil prices will rise to $61 a barrel in 2019 and $65 a barrel in 2020, while natural gas prices will remain below 2018 levels for both years, according to federal Energy Information Administration (EIA) forecasts. West Texas Intermediate crude oil prices will average about $8 a barrel lower than Brent in the first

By - Jim Vess

DOE launches programs for new coal markets and to enhance oil and gas recovery

Energize Weekly, January 23, 2019 The U.S. Department of Energy (DOE) has launched programs to find new markets for coal and boost oil recovery from shale plays. Under the Maximizing the Coal Value Chain program, $9.5 million in federal cost-sharing funds will be available for developing ways to improve coal as a fuel, as a feedstock or material for manufacturing.

By - Jim Vess

Natural gas-fired plants dominated 2018 new generating capacity, renewables set to rebound in 2019

Energize Weekly, January 16, 2019 New natural gas-fired generation capacity in 2018 accounted for nearly three-quarters of the total 24,808 megawatts (MW) installed for the year—and was double the amount of gas-fired capacity installed in 2017, according to S&P Global Market Intelligence data. The 18,550 MW of natural gas-fired capacity more than offset the 16,900 MW of coal-fired plants that

By - Jim Vess

U.S. greenhouse gas emissions rose across all sectors in 2018, Rhodium says

Energize Weekly, January 16, 2019 U.S. carbon dioxide emissions linked to energy use rose for the first time in three years in 2018—with all sectors from power generation to manufacturing to home heating—posting increases. There was a 3.4 percent increase in emissions, according to a study by the Rhodium Group, an energy and economic analytics consultant. “This marks the second

By - Jim Vess

Natural disasters caused $160 billion in damages in 2018 with about half covered by insurers

Energize Weekly, January 16, 2019 Natural disasters worldwide caused $160 billion in damage and killed 10,400 people in 2018, making it the fourth mostly costly year for the insurance industry since 1980, according to the international insurer Swiss Re Group. “The indications at the start of 2018 were that it would be a more moderate year,” Petra Löw, a Swiss

By - Jim Vess

Energy commodity prices, from oil to natural gas to gasoline, fall to end 2018

Energize Weekly, January 9, 2019 Energy commodity prices—hit by a weak oil market—fell 21 percent in the last quarter of 2018 after having been strong for most of the year, according to in the S&P Goldman Sachs Commodity Index (GSCI). It was the first time since 2015 that crude oil prices ended the year lower than where they were at

By - Jim Vess

Global oil and gas supply chain emits 5,200 million tons of greenhouse gases, IEA says

Energize Weekly, January 2, 2019 The oil and gas industry is a source of carbon emissions even before the fuels are burned—one that should be addressed even as fossil fuels remain in the world energy system for decades, according to the International Energy Agency (IEA). The IEA’s “well-to-wheel” analysis of indirect or fugitive emissions is the first comprehensive global assessment

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