(Pioneer, 12.Jun.2019) — Pioneer Energy Services announced that it has been notified by the New York Stock Exchange (NYSE) that its common stock does not satisfy one of the NYSE’s standards for continued listing. The NYSE requires that the average closing price per share of a listed company’s stock be […]
Category: North America
North America energy
IEnova Reports Mechanical Completion Of Sur de Texas-Tuxpan Pipeline
(IENova, 11.Jun.2019) — Infraestructura Marina del Golfo, a joint venture between TC Energy Corporation and Infraestructura EnergĂ©tica Nova (IEnova), announced its Sur de Texas-Tuxpan Pipeline project in northeastern Mexico has achieved mechanical completion. Sur de Texas-Tuxpan will provide capacity to transport 2.6 billion cubic feet of natural gas per day. […]
FMC Corp. Realigns Leadership Structure In The Americas
(FMC, 11.Jun.2019) — FMC Corporation announced that it is realigning the leadership structure for its North America and Latin America regions. Ronaldo Pereira, president, FMC Latin America, has been appointed president of the company’s new Americas Region, which encompasses the U.S., Canada, Central America and South America. Pereira will continue […]
Comstock Resources Takes Haynesville Lead With $2.2 Billion Covey Park deal
(WoodMac, 10.Jun.2019) — Comstock Resources today tightened its grip on the Haynesville basin with a US$2.2 billion cash-and-stock deal to buy privately-held Covey Park. Greig Aitken, director, corporate analysis, at global natural resources consultancy Wood Mackenzie, said: “The deal creates a Haynesville leader with the pro-forma company having access to […]
LatAmNRG Q&A Series With Barry Blacklock About Water Management In Fracking
(Energy Analytics Institute, Ian Silverman, 8.Jun.2019) — As part of Energy Analytics Institute’s ongoing coverage of the Latin America and Caribbean energy sectors from conventionals, unconventionals to renewables, Calgary-based Consultant Barry Blacklock weighs in on the fracking debate in Colombia and one of many headwinds to face the Andean country: […]
Millions To Collaborate Worldwide For World Oceans Day This June 8
(World Oceans Day, 7.Jun.2019) — The World Oceans Day Youth Advisory Council will help steer the way this week leading up to World Oceans Day on June 8. With increasing awareness of plastic pollution entering waterways around the globe, millions of people will take action for a better future by […]
U.S. Tightens Venezuela Oil Sanctions, Indicates More Actions To Come
(Reuters, Roberta Rampton, 6.Jun.2019) — The U.S. Treasury Department on Thursday tightened its pressure on Venezuela’s state-owned oil company by making clear that exports of diluents by international shippers could be subject to U.S. sanctions. The change, announced on the Treasury Department’s website, is the latest U.S. measure aimed at […]
Citgo’s Search For CEO Moves Forward, Includes Former PDVSA Executives
(Reuters, Marianna Parraga, 6.Jun.2019) — Citgo Petroleum Corp, the U.S. arm of Venezuela’s state-run oil firm PDVSA, is moving toward appointing a new chief executive, with candidate names including former executives from PDVSA and other companies soon to be submitted to the board. In February, former CEO Asdrubal Chavez and […]
McDermott Reveals Contract Deal For Mozambique LNG Development
(McDermott, 5.Jun.2019) — McDermott International, Inc. announced that CCS JV, a joint venture between McDermott, Saipem and Chiyoda, has reached full agreement for a contract with Anadarko Petroleum Corporation for the Mozambique Area 1 Liquefied Natural Gas (LNG) Development. CCS JV’s project scope includes the onshore engineering, procurement and construction […]
US’ Refineries Need Mexican Crude Oil
(CNN, Matt Egan, 5.Jun.2019) — The Trump administration’s threatened tariffs on Mexico couldn’t come at a worse time for America’s oil refineries. Mexico is the No. 2 foreign source of oil to the United States, supplying an average of 658,000 barrels of crude a day in March to ExxonMobil, Valero […]
Southern Power Completes Expansion Of Mankato Energy Center Unit
(Southern Power, 4.Jun.2019) — Southern Power announced the second combined cycle unit of the Mankato Energy Center expansion in Mankato, Minn., is complete. The expansion created 250 jobs during construction and was completed on time and under budget. Mankato Energy Center, the natural gas power plant, now includes two natural […]
Exploring The Innovative Evolution Of Hydraulic Fracturing
(JPT, Matt Zborowski, 3.Jun.2019) — Fueled by a culture of innovation, hydraulic fracturing has transformed the energy landscape from inside North America out. But achieving that paradigm shift took years of improving subsurface understanding, technology development, and fine tuning the completions practice through trial and error. Authors from Liberty Oilfield […]
Cheniere Makes Positive FID On Train 6 At Sabine Pass Liquefaction Project
(Cheniere, 3.Jun.2019) — Cheniere Energy, Inc. announced its Board of Directors has approved a comprehensive capital allocation framework for the Company that prioritizes reinvestment of cash flows to grow Cheniere’s world-class LNG platform, achievement of improved credit metrics for the Company’s liquefaction project entities and on a consolidated basis, and […]
YPF Prepares First Shipment Of Liquefied Natural Gas From Argentina
(Reuters, 2.Jun.2019) — Argentine oil company YPF SA said on Sunday that it began loading the first shipment of liquefied natural gas (LNG) for export from Argentina. The shipment includes 30,000 cubic metres of LNG from the Vaca Muerta shale play, YPF said in a statement. “This is the first […]
Mexico Is Our Most Important Natural Gas Export Market
(Forbes, Robert Rapier, 2.Jun.2019) — Last week the Trump Administration announced plans to impose a 5% tax on all goods imported from Mexico unless “the illegal migration crisis is alleviated.” These tariffs would potentially rise to 25% by October. Many business groups immediately came out against the idea. Neil Bradley, […]
Hydraulic Fracturing
(JPT, Zillur Rahim, Saudi Aramco, 1.Jun.2019) — As gas development focuses more on tight and ultratight formations, the challenges to produce economically become diverse and more intense. One main challenge faced while fracturing a well is a high fracture gradient. This can be caused by near-wellbore tortuosity, drill-in-fluid-induced damage, high […]
Cameron LNG Ships Out First Commissioning Cargo From LNG Plant
(Sempra, 31.May.2019) — Sempra LNG, a subsidiary of Sempra Energy, announced that Cameron LNG has shipped the first commissioning cargo of liquefied natural gas (LNG) from the first liquefaction train of the export project in Hackberry, La. “This achievement brings Cameron LNG, one of Sempra’s five strategically located LNG infrastructure […]
Bristow Inks Five Year Deal With BP
(Energy Analytics Institute, Jared Yamin, 31.May.2019) — Bristow Group Inc. signed a new deal with BP plc to support its North Sea operations. The contract, with a five year primary term, commenced on 13 May, Bristow announced in an official statement. “This award further builds on Bristow’s success in the […]
Frontera Energy Corporation BODs Declares Dividend
(Frontera, 30.May.2019) — Frontera Energy Corporation’s board of directors has declared a dividend of C$0.205 per common share, which will be paid on or about July 17, 2019 to shareholders of record at the close of business on July 3, 2019. The Company’s board of directors has also amended its […]
Canadian Solar Signs 1,800 MW Supply Deal With EDF Renewables North America
(Canadian Solar, 29.May.2019) — Canadian Solar Inc. announced that it has signed a multi-year module supply agreement with EDF Renewables North America to deliver 1,800 MW of high efficiency poly solar modules for projects in the US, Canada, and Mexico. Utilizing unique multi-year contractual terms, Canadian Solar will supply its […]
CNR Snaps Up Devon’s Canada Assets In US$2.8 Billion Deal
(WoodMac, 29.May.2019) — Canadian Natural Resources today announced a C$3.8 billion (US$2.8 billion) acquisition of Devon Energy’s Canadian assets, marking the company’s seventh major acquisition since 2014. Taking into account the subsequent corporate effects of the deal, Wood Mackenzie has valued the assets at US$3.7 billion. The assets include the […]
Scoot Awarded Permit To Operate Ebikes In Santiago, Chile
(Scoot, 28.May.2019) — Scoot, the original shared electric vehicle company, is launching their new shared ebike in the Las Condes district of Santiago, Chile. At a joint press event this weekend, Mayor Joaquin Lavin announced that Scoot had been awarded 650 permits to operate shared ebikes, making it the first […]
Energy Exports Help Laredo To Become Top U.S. Trade Hub
(Chron.com, Sergio Chapa, 28.May.2019) — Booming energy exports and shifting patterns in international commerce have made the Port of Laredo the nation’s top center for trade, supplanting the longtime leader, the Port of Los Angeles. In March, $20.1 billion of combined imports and exports moved through the Texas border city, […]
LatAmNRG Q&A With ANH Colombia: Exploratory Drilling To Start In 2H:20
(Energy Analytics Institute, Piero Stewart, 24.May.2019) — As part of Energy Analytics Institute’s ongoing coverage of the Latin America and Caribbean energy sectors from conventionals, unconventionals to renewables, Colombia’s Hydrocarbons National Agency (ANH) weighs in on some of our Colombia-related questions. What follows are excerpts from our series: LatAmNRG Q&A […]
Trinidad Petroleum Holdings Limited Announces Extension Of Expiration Date
(TPHL, 24.May.2019) — Trinidad Petroleum Holdings Limited announced the expiration date has been extended until 5:00 p.m., New York City time, on June 14, 2019, unless extended or earlier terminated (such time and date with respect to the Exchange Offers, as the same may be extended, the “Extended Expiration Date”), […]
Canacol Energy: 42% FFO Jump, Poised To Grow Further
(Seeking Alpha, Vasily Zyryanov, 24.May.2019) — Canacol Energy, Toronto-listed and Colombia-focused natural gas producer, has recently presented its Q1 results and impressed investors with robust revenue and a 42% funds from operations increase. Importantly, that surge in cash flow and sales is just the very beginning of a much more […]
Canadian Solar Finalizes Sale Of Aguascalientes Solar Project To BlackRock Fund
(Canadian Solar, 23.May.2019) — Canadian Solar Inc. completed the sale of its 68 MWp Aguascalientes solar project in Mexico to BlackRock Infrastructure Fund II. Canadian Solar developed, arranged construction and long-term project financing, built and energized the project in January 2019. Powered by 200,000 Canadian Solar high-efficiency poly modules CS6U-P, […]
First Small-Scale Waterside LNG Production Facility In The U.S. Is Operational
(JAX LNG, 23.May.2019) — JAX LNG, a liquefied natural gas facility located at Dames Point in Jacksonville, Florida, held a ribbon-cutting ceremony May 16 to signify the official start-up of the newly constructed plant. JAX LNG is the first small-scale LNG facility in the United States with both marine and […]
McDermott Says Freeport LNG Production to Start in 1Q:20
(Energy Analytics Institute, Jared Yamin, 23.May.2019) — McDermott International, Inc. reiterated its earlier notified schedule for the Freeport LNG project in Freeport, Texas. As disclosed on 29 April, the company still forecasts initial production of LNG for the third and final train to happen in the first quarter of 2020 […]
US Tells Foreign Cos To Stop Jet Fuel Trading With Venezuela
(Reuters, Julia Payne and Dmitry Zhdannikov, 23.May.2019) — The United States told some large foreign firms this week they should stop trading jet fuel with Venezuela or face sanctions, according to two industry sources, ratcheting up pressure intended at removing Venezuelan President Nicolas Maduro from power. U.S. State Department officials […]
Shell Commences Production At Appomattox Field In U.S. Gulf Of Mexico
(Shell, 23.May.2019) — Royal Dutch Shell plc, through its subsidiary Shell Offshore Inc (Shell) announces today that production has started at the Shell-operated Appomattox floating production system months ahead of schedule, opening a new frontier in the deep-water US Gulf of Mexico. Appomattox, which currently has an expected production of […]
CNOOC Limited Announces Appomattox Field Commences Production
(CNOOC, 23.May.2019) — CNOOC Limited announced the Appomattox Field in the US Gulf of Mexico has safely commenced production ahead of schedule. Appomattox Field is located approximately 128 kilometers southeast of Louisiana in the deep-water Gulf of Mexico, with water depth of approximately 2,255 meters. Appomattox is the first commercial discovery […]
Saudi Aramco And Sempra Energy Ink Largest LNG Deal For 6 Years
(WoodMac, 22.May.2019) — Sempra Energy and Saudi Aramco today announced their respective subsidiaries, Sempra LNG and Aramco Services Company, have signed a heads of agreement (HOA), which anticipates the negotiation and finalisation of a definitive 20-year sale-and-purchase agreement covering 5 million metric tons each year from the Port Arthur LNG […]
Colombia’s Ecopetrol Says Exports To U.S. Up On Venezuela, Higher Output
(Reuters, 22.May.2019) — Colombia’s state-run oil company Ecopetrol said on Wednesday its crude exports to the United States rose nearly 25% in the first quarter because of lower supply from neighboring Venezuela and higher production. The 4-week average for crude imports from Colombia have surged to near the highest levels […]
OPEC Founder Venezuela Pumps Less Oil Than Three Of Its Neighbors
(Bloomberg, Lucia Kassai, 20.May.2019) —Venezuela, which sits atop more oil than Saudi Arabia, has fallen behind three other Latin American countries as years of mismanagement and lack of investments take its toll. The OPEC founding member produced 740,000 barrels a day in March, while Colombia’s oil reserves are less than […]
US Sanctions Mining Company Backing Maduro
(Reuters, 19.May.2019) — The United States imposed sanctions on Tuesday against Venezuela’s state-run gold mining company Minerven and its president, Adrian Perdomo, accusing them of illicit operations and propping up the government of President Nicolas Maduro. The announcement comes days after Uganda said it was investigating its biggest gold refinery […]
US Targets Shippers For Bringing Venezuela Oil To Cuba
(AFP, 17.May.2019) — The United States last Friday imposed sanctions on two shipping companies for delivering Venezuelan oil to ally Cuba in what it called a response to actions against opposition lawmakers in Caracas. The Treasury Department said it was taking aim at the Monsoon Navigation Corp, headquartered in the […]
Gas Station Lines Reappear In Venezuela As Refinery Halts, Fuel Imports Plunge
(Reuters, Mircely Guanipa and Marianna Parraga, 16.May.2019) — Gas station lines reappeared across oil-rich but crisis-stricken Venezuela this week as gasoline imports plunged and the country’s second-largest oil refinery halted operations. Shortages of motor fuel have become a periodic occurrence across OPEC member Venezuela, particularly in border regions where smuggling […]
Who Gets Venezuela’s Oil?
(CNN, Allan Dodds Frank, 16.May.2019) — Venezuela’s future is in limbo, as its embattled president continues to fend off a national movement for regime change. And whether President Nicolas Maduro consolidates his power, or opposition leader Juan Guaido takes control of the government, one longterm question hangs over the country’s […]
Venezuela’s Ad-Hoc PDVSA Board Begins Payment On Citgo-Backed 2020 Bond
(Reuters, Corina Pons and Mayela Armas, 16.May.2019) — Venezuela’s ad-hoc board of directors for state oil company PDVSA, appointed by opposition leader Juan Guaido, said on Thursday it has made an interest payment on its bond maturing in 2020, delaying uncertainty over its crown jewel U.S. asset. The PDVSA bond […]
Sempra Energy Starts Production At Train 1 Of Cameron LNG Facility
(Sempra, 14.May.2019) — Sempra Energy announced that Cameron LNG has begun producing liquefied natural gas (LNG) from the first liquefaction train of the Cameron LNG export project in Hackberry, La. “Reaching this important milestone of first LNG production is truly a credit to the team at Cameron LNG and the […]
Pompeo, Putin Could Decide Venezuela’s Fate
(Oilprice.com, Tsvetana Paraskova, 14.May.2019) — U.S. Secretary of State Mike Pompeo and Russian President Vladimir Putin are meeting on Tuesday to discuss various issues, including the fate of Venezuela and Nicolas Maduro—a hot topic for the oil market as geopolitical tensions have mounted in recent weeks. Secretary Pompeo will be […]
Equinor Boosts Stake In Caesar Tonga Field In Deepwater US GOM
(Equinor, 13.May.2019) — Equinor has exercised its preferential rights to acquire an additional 22.45% interest in the Caesar Tonga oil field from Shell Offshore Inc for a total consideration of USD 965 million in cash. This will increase Equinor’s interest from 23.55% to 46.00%. Anadarko remains the operator with a […]
Readout Of Secretary Perry’s Visit To Bogota, Colombia
(Energy.gov, 13.May.2019) — Today, U.S. Secretary of Energy Rick Perry was in Bogotá, Colombia for the Concordia Americas Summit, a gathering of government and private sector leaders held to discuss a range of issues impacting Colombia and the broader Latin American region. Secretary Perry addressed the Summit about the desire […]
Delek’s US GOM Caesar Tonga Oil Acquisition Cancelled
(Globes, 12.May.2019) — One of the existing partners has exercised its first right of refusal on the rights in the Caesar Tonga oil field. The share price of Delek Group Ltd. is down about 1% following an announcement by the company this morning that a deal for the purchase of […]
US Secretary Perry Attends 2019 Concordia Americas Summit
(US DOE, 10.May.2019) — On Monday, May 13, 2019, U.S. Secretary of Energy Rick Perry will travel to Bogotá, Colombia to participate in the 2019 Concordia Americas Summit. He is also scheduled to participate in bilateral meetings on the sidelines of the summit. The Americas Summit is Concordia’s flagship regional […]
WoodMac: Chevron Exits Bidding War For Anadarko
(WoodMac, 9.May.2019) — Chevron Corporation today announced that it would not offer a counter proposal to Occidental Petroleum’s rival bid to acquire Anadarko Petroleum. Earlier this week, Anadarko said it had received an offer from Occidental that was superior to a previously-arranged deal with Chevron. Chevron said it would allow […]
Braskem Says Consolidated Recurring EBITDA Reached $336 Million In 1Q:19
(Braskem, 8.May.2019) — Braskem S.A. announces today its results for 1Q19. HIGHLIGHTS: Braskem – Consolidated: — Braskem’s recurring EBITDA was US$ 336 million, down 16% and 60% from 4Q18 and 1Q18, respectively, influenced by lower petrochemical spreads in the international market. Including non-recurring impacts, EBITDA was US$ 729 million, reflecting […]
CSI Compressco Announces 1Q:19 Results, Affirms Full Year Financial Guidance
(CSI, 8.May.2019) — CSI Compressco LP today announced first quarter 2019 consolidated financial results and provided updated 2019 full year guidance. Consolidated revenues for the quarter ended March 31, 2019 were $103 million compared to $138 million for the fourth quarter of 2018 and $85 million for the first quarter […]
Talos Energy Conference Call And Webcast Information
(Talos, 8.May.2019) — Talos Energy Inc. will host a conference call, which will also be broadcast live over the internet, on Thursday, May 9, 2019 at 10:00 am Eastern Time (9:00 am Central Time). Listeners can access the conference call live over the internet through a webcast link on the […]