Oil & Gas
Top stories summarized by our editors
1/23/2017

Preliminary 2017 budgets released by over a dozen US shale drillers, including Hess and Noble Energy, suggest that the group's exploration and production spending could surge by an average of 60% in 2017, marking a turnaround after two years of budget and job cuts. Barclays analyst J. David Anderson expects total US E&P spending for the year to jump by more than 50%, driven by onshore producers.

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Noble Energy, Barclays, Hess
1/23/2017

The Texas shale industry and US pipeline companies such as Kinder Morgan, Energy Transfer Partners and Spectra Energy are poised to benefit from Mexico's expansion of natural gas-fired energy capacity because it will lead to an increase in demand for imports of US natural gas, according to the Energy Department. Natural gas accounted for 54% of Mexico's power generation in 2015.

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FuelFix.com
1/23/2017

President Donald Trump is reportedly preparing to roll back a number of energy regulations enacted by the previous administration as part of his "America First Energy Plan," published on the White House's website after his inauguration. Trump plans to repeal Obama's Climate Action Plan, accelerate permitting for cross-border pipelines, remove the climate change factor when making government decisions and temporarily stop the use of the social cost of carbon as a metric, according to sources.

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Bloomberg
1/23/2017

Lario Oil & Gas has expanded its position in the Permian Basin with the $345 million acquisition of 10,000 net acres in the Midland sub-basin, which have a production of about 1,850 barrels of oil equivalent per day. The assets also include "hundreds" of potential drilling locations in the Spraberry and Wolfcamp shales.

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Permian Basin
1/23/2017

The number of US oil rigs expanded by 29 to 551 in the week ended Jan. 20, the biggest increase since April 2013, according to Baker Hughes. Thirteen rigs were deployed to the Permian Basin, while the Cana-Woodford Shale gained nine rigs.

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Reuters
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Baker Hughes, Permian Basin
1/23/2017

Royal Dutch Shell has begun drilling at the Arbuckle prospect in the US Gulf of Mexico's Green Canyon area, for which it received a permit on Jan. 10. Shell owns a 75% stake in GC 420, GC 377 and GC 376, while the rest is held by BP.

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Royal Dutch Shell, Arbuckle, Shell
1/23/2017

Sens. Lisa Murkowski and Dan Sullivan, both R-Alaska, have introduced a bill that would allow energy drilling on up to 2,000 acres in the Arctic National Wildlife Refuge, which could hold about 12 billion barrels of crude oil. Opening up the ANWR could help revive the Trans Alaska Pipeline and secure the jobs it provides, the senators said, although it's unclear how feasible it would be to drill in the ANWR when there are so many cheaper options.

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Bloomberg
1/23/2017

Florida state Sen. Dana Young is expected on Tuesday to announce legislation to ban hydraulic fracturing. Young, a Republican, promised during her campaign for the Senate District 18 seat to ban fracking after she was accused of being a fracking supporter.

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Florida Politics
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Senate District
1/23/2017

Indonesia is using new satellite technology and improving coordination for monitoring volcanic ash clouds in an effort to reduce air-travel disruptions near popular tourist sites. The satellites provide frequent, high-resolution images and accurate measurements of ash clouds, lowering volcanoes' threat to planes.

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Indonesia
1/23/2017

More oil well operators are using riserless intervention systems to improve production and reduce costs. The systems, which increase the recovery rate from subsea wells, eliminate the need for a drilling riser, allowing companies to use small vessels instead of drilling rigs.

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Offshore-Mag.com