Sunday, January 5, 2025

Trudeau to Lay Out Predictable Timelines for Pipeline Reviews

From Bloomberg Justin Trudeau wants to make reviews of pipeline and other major projects run on time as Canadian producers struggle to get oil to market. The federal government will propose new rules for regulatory vetting of all major development projects in the new year, shortly after parliament reconvenes on Jan. 29, Natural Resources Minister Jim Carr said. Trudeau instructed

Eni Begins Drilling in Alaska’s Beaufort Sea: BSEE

From Reuters Italian oil producer Eni this week began drilling a new well in U.S. waters off the north coast of Alaska, becoming the first company to do so since 2015, federal regulators said on Wednesday. The oil and gas firm is working from an artificial island in the Beaufort Sea about three miles off Oliktok Point in the Arctic

Weekly Oil Storage: Large Draws Continue

The EIA released its weekly Petroleum Status Report today, outlining how national oil and refined product stocks have changed in the last week. Crude oil stocks fell by 4,609 MBBL last week to 431,882 MBBL, from 436,491 MBBL. This is 11% below the 486,063 MBBL that was in storage at this point last year, and is 9% above the five-year

Eclipse Resources Partners with Sequel Energy in SE Ohio

Eclipse Resources Corporation (ticker: ECR) announced today that it has, through certain subsidiaries, entered into definitive agreements with Sequel Energy Group LLC (an affiliate of GSO Capital Partners LP) on December 22, 2017 to establish the previously announced drilling joint venture on the company’s Utica Shale acreage in Guernsey and Monroe Counties in southeast Ohio. Drilling joint venture highlights Committed

Chaparral Energy’s $60 Million Bolt-on STACK Acquisition

Chaparral Energy, Inc. (ticker: CHPE) announced today that it has entered into a definitive purchase agreement to acquire acreage in Kingfisher County, Oklahoma, from a private seller for $60 million in cash, subject to customary post-closing adjustments. Highlights Acquiring 7,000 contiguous net acres in the core of the black-oil window of the STACK play in Kingfisher County The acreage is