By Tyler Losier, Energy Reporter, Oil & Gas 360 Forum Energy Technologies to sell its aggregate 40% interest in Ashtead Technology for $39 million Forum Energy Technologies Inc. (stock ticker: FET), a global oilfield products company, has entered into a definitive agreement through its subsidiaries to sell an aggregate 40% interest in Ashtead Technology, a subsea rentals company, to majority
From The Houston Chronicle The U.S. energy sector broke another record last year as the shale boom sent natural gas and petroleum production soaring. U.S. petroleum and natural gas production jumped by 16 percent and by 12 percent respectively in 2018, setting new production records, according to a new report from the U.S. Energy Department. The U.S. surpassed Saudi Arabia
From Reuters In west Texas, the center of the U.S. oil boom, about 3,800 students at Permian High School are crammed into a campus designed for 2,500, with 20 portable buildings to help with the overflow. School officials had expected enrollment to fall after the last oil price crash, starting in 2014, but it kept rising – one sign of
By Tyler Losier, Energy Reporter, Oil & Gas 360 Train 1 of Sempra’s Cameron LNG project commences commercial operations Sempra LNG, a subsidiary of San Diego-based Sempra Energy (stock ticker: SRE), has begun commercial operations under tolling agreements at Train 1 of its Cameron LNG liquefaction-export project in Hackberry, Louisiana. Previously, Sempra’s Cameron LNG facility had shipped its first commissioning
By Tyler Losier, Energy Reporter, Oil & Gas 360 Tim Knox to serve as Park Energy Services’ new president and COO Park Energy Services, a portfolio company of private equity firm Rock Hill Capital, has appointed Tim Knox as president and chief operating officer, effective August 19. “We are very excited to announce the addition of Tim Knox to the
From The Houston Chronicle U.S. LNG exports have expanded to the point they made up 7 percent of total U.S. natural gas production in July, the Energy Information Administration reported Monday. Last month gas deliveries to LNG export facilities reached 6 billion cubic feet a day, as new export facilities come online along the Gulf Coast. “In the first half
From The Houston Chronicle After a recovery from the last oil bust, energy bankruptcies are back on the rise in 2019. The number of oil and gas bankruptcy filings through mid-August has nearly equaled the total tally from 2018, and the aggregate debt from 2019 bankruptcy filings of almost $20 billion has already surpassed the roughly $17 billion from a
From The Houston Chronicle Within the next 12 months Australia is likely to surpass Qatar as the world’s largest exporter of liquefied natural gas, the Energy Information Administration is forecasting. Australian LNG capacity reached 11.4 billion cubic feet a day this year, more than four times what it was in 2011 and surpassing Qatar’s capacity. Australia “exported more LNG than
From Reuters U.S. oil output from seven major shale formations is expected to rise by 85,000 barrels per day (bpd) in September, to a record 8.77 million bpd, the U.S. Energy Information Administration forecast in its monthly drilling productivity report on Monday. The largest change is expected in the Permian Basin of Texas and New Mexico, where output is seen
From Reuters The U.S. Environmental Protection Agency on Friday unveiled a proposal that would curb state powers to block pipelines and other energy projects, as part of the Trump administration’s effort to boost domestic oil, gas and coal development. The move, swiftly criticized by an organization representing progressive states, comes four months after President Donald Trump ordered the EPA here
From Reuters Spot power prices in Texas almost tripled for Tuesday on forecasts demand for electricity would hit record levels over the next week as consumers crank up their air conditioners to escape a heat wave blanketing much of the state. High temperatures in Houston, the biggest city in the Lone Star State, were expected to reach almost 100 degrees
By Tyler Losier, Energy Reporter, Oil & Gas 360 Altus Midstream closes purchase of 33% equity stake in Enterprise-owned Shin Oak Pipeline Altus Midstream (stock ticker: ALTM), a pure-play Permian-to-Gulf Coast midstream company, has closed a deal with Enterprise Products Partners (stock ticker: EPD) to acquire a 33% equity interest in the Enterprise subsidiary that owns the Shin Oak natural
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