BOE Report The amount of natural gas flowing to Freeport LNG’s export plant in Texas rose to a two-month high on Sunday in what energy traders said was another sign that the plant was wrapping up a series of outages over the past month or so. The startup and shutdown of Freeport and other U.S. liquefied natural gas (LNG) export
Oil Price Natural gas prices at the Waha hub in the Permian basin in Texas slumped to a negative value of -$2.00 per million British thermal units (MMBtu) this week as the recent rise in oil prices prompts producers to bring drilled but uncompleted wells online. As the U.S. benchmark oil price, West Texas Intermediate, hit $85 per barrel—the highest level
World Oil (Bloomberg) – U.S. oil prices are more than high enough to make drilling new wells profitable, but some shale bosses say they’re hesitant because of political and regulatory “uncertainty” that won’t be settled until the November election, according to the Federal Reserve Bank of Dallas. “Until the next administration is decided, we’re in a state of flux when
BOE Report Oil and gas production in Texas, Louisiana and New Mexico decreased in the first quarter of 2024, the Federal Reserve Bank of Dallas said on Wednesday in its quarterly survey of energy activity. The survey of executives at 147 energy firms suggested a small decline in production. A natural gas production index also turned negative and oilfield services
World Oil (WO) – The Environmental Protection Agency (EPA) published the Methane Rule in the Federal Register on Friday, March 8. Texas is challenging this rule, which is detrimental to the oil and gas industry, which is not only vital to the state’s economy, but has also made great strides in emissions reduction. RRC Commissioners voted in late January to
Oil Price Xcel Energy’s facilities in Texas may have been the cause of a spree of wildfires that ripped through the state. Excel, based in Minneapolis, an electric utility and natural gas delivery company, said it very well may be responsible for igniting the recent Smokehouse Creek fire—the largest wildfire in the state’s history. The Smokehouse Creek wildfire began February
Oil Price Texas Panhandle oil refineries and cattle ranches remain under critical threat as wildfires continue to spread, now consuming 500,000 acres after having prompted the temporary evacuation of the United States’ primary nuclear weapons assembly plant. Earlier on Wednesday, Texas Governor Greg Abbott had declared a disaster for 60 counties being affected by four separate wildfires that have so
World Oil (Bloomberg) – The recent freeze across Texas and Louisiana disrupted scheduled exports of U.S. liquefied natural gas (LNG), temporarily tightening some supply of the heating and power-plant fuel. The Cameron LNG export plant in Louisiana canceled at least one scheduled shipment, according to people familiar with the matter. Several other planned deliveries from Cameron and Cheniere Energy Inc.’s
World Oil AUSTIN- The Railroad Commission of Texas has submitted comments in response to the National Marine Fisheries Service (Service) proposal to designate a huge swath of waters in the Gulf of Mexico – approximately 28,270 square miles – as expanded critical habitat for the Rice’s whale without sufficient data. The zealous proposal may lead to major limitations when transporting
Oil Price Mild spring weather with low gas demand combined with pipeline maintenance to drag spot natural gas prices at the Waha hub in West Texas into negative territory this week. Next-day prices for Wednesday at the Waha hub in the Permian closed on Tuesday at -$0.35 per million British thermal units (MMBtu), per data from Refinitiv cited by Reuters. The
Oil Price Tesla this week broke ground on a lithium refinery in Texas in the company’s latest move aimed at ensuring a sufficient supply of critical materials for the manufacturing of its cars. It is also part of a plan to expand Tesla’s presence across the EV supply chain, Reuters noted in a report on the news. The refinery should be
Oil Price Texas has added HSBC to its list of companies that boycott the oil and gas industry, which could ban Texas government entities from investing in Europe’s largest bank and its funds and other products. HSBC ended up on Texas’ list after the bank recently updated its energy policy, Texas Comptroller Glenn Hegar said this week. As part of
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