The quake was the largest yet in the Stanton Seismic Response Area in the Permian Basin, where regulators were already monitoring seismic activity linked to disposal of saltwater, a natural byproduct of oil and gas production.
(Reuters) – An Exxon Mobil arbitration case that could block the sale of Hess Corp to Chevron could drag on until year-end, Hess said in a U.S. securities filing on Friday. The filing signals any closing of its $53 billion sale to Chevron could fall into next year, at least six months later than a prior goal of …
Hess Signals Exxon Arbitration Could Push a Sale into Next Year Read More »
(Reuters) – A major battery plant near Los Angeles will be among the largest in the world when it comes online later this year, promising to shore up California’s power grid during the peak summer season and help the state a meet ambitious climate goals. Calpine’s billion-dollar Nova Power Bank, built on the site of …
California Battery Plant is Among World’s Largest as Power Storage Booms Read More »
BKV CEO, Chris Kalnin dives into the “core issue” of Texas’ renewable grid and how the company is increasing production as the the largest producer in the Barnett Shale, in this Hart Energy Exclusive interview.
(Reuters) – President Joe Biden’s administration on Friday finalized a range of reforms designed to boost returns and address environmental harms from oil and gas drilling on public lands. The new rules follow years of criticism from green and taxpayer groups that federal oil and gas development was not benefiting the public. Many of the …
U.S. Finalizes Big Reforms to Federal Oil and Gas Drilling Read More »
(Reuters) – The International Energy Agency (IEA) trimmed its forecast for 2024 oil demand growth on Friday, citing lower than expected consumption in OECD countries and a slump in factory activity. The Paris-based energy watchdog lowered its growth outlook for this year by 130,000 barrels per day (bpd) to 1.2 million bpd, adding that the …
IEA Trims Oil Demand Forecast on Weakness in Wealthier Countries Read More »
Industry leader Herbert Hunt was instrumental in dual-lateral development, opening the North Sea to oil and gas development and discovering Libya’s Sarir Field.
Under the new policy, drilling is limited in wildlife and cultural areas and oil and gas companies will pay higher bonding rates to cover the cost of plugging abandoned oil and gas wells, among other higher rates and costs.
Subsea7 will install a flowline for Talos’ Sunspear development in the Gulf of Mexico.
Exxon Mobil has made a final investment decision for its sixth oil development project in offshore Guyana after receiving the required government and regulatory approvals, the company said on Friday.A consortium led by Exxon began crude output in Guyana in 2019, and has ramped up production to some 650,000 barrels per day (bpd) this year. …
Exxon Moves Forward with Sixth Oil Project in Guyana, Targets 1.3 million Bpd Output Read More »
