Wednesday, December 25, 2024

Climate Groups Prepare Oil & Gas Setback Initiative for 2018 Colorado Ballot

Another 2,500 setback initiative The climate activist groups 350.org and Colorado Rising, a coalition of grassroots groups and activists who worked on 2016’s unsuccessful ballot initiative to amend the Colorado constitution with mandatory 2,500-foot setbacks for oil and gas operations in Colorado, are preparing to launch what they described as “a successful ballot initiative effort in 2018 armed with all

Hi-Crush Refinancing Update

Hi-Crush Partners LP (ticker: HCLP) has entered into a new $200 million Senior Secured Term Loan Credit Agreement and a new five-year Revolving Credit Agreement. Additionally, the company completed $20 million of unit repurchases and received necessary approvals to execute the remaining $80 million of authorized unit repurchases. The new $200 million Term Loan replaces the Partnership’s previous $200 million

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Permian Basin Production Breaks 44-Year Record: IHS

Permian production will push U.S. to new record liquids production by end of 2018 – IHS Markit IHS Markit released a new report today. IHS Markit said that the Permian Basin reached a new 2017 oil-production record of 815 million barrels – this does not include the remaining days left in 2017. The old 1973 record held at 790 million

U.S. Rig Count Climbs by 1 to 931

U.S. rig count is up by one from last week, to 931, according to Baker Hughes’ latest rig count data. One land rig was added. Overall, the change from last year has been a positive gain of 278 rigs from the 653 rigs reported December 23, 2016. The Gulf of Mexico has maintained 19 rigs this week with no changes.

Kuwait Petroleum and Shell Sign 15-Year Agreement

Royal Dutch Shell plc (ticker: RDS.A) and Kuwait Petroleum Corp. have signed an LNG contract that secures Kuwait’s domestic energy needs for the next 15 years. A private source told Bloomberg that the contract will cover 2-3 million metric tons of LNG a year, all while undercutting Brent benchmark prices by 11%. “The big issue for Kuwait is they burn