Oil production likely won't begin in the Arctic National Wildlife Refuge in Alaska until after 2030. The Energy Information Administration said companies will need time to acquire leases, look for oil and build infrastructure in the refuge, which may offer 5.7 billion to 16 billion barrels of oil in the coastal plain.
West Texas Intermediate's discount to global benchmark Brent could widen further as infrastructure constraints emerging near Cushing, Okla., threaten to inflate inventories at the storage hub, putting downward pressure on US oil futures. The WTI-Brent spread could hit $15 per barrel by the end of next year, according to Raymond James, as North American production growth continues to outpace infrastructure expansions.
US oil producers including Wildhorse Resource Development, EOG Resources and ConocoPhillips are using new shale technology to revive older plays, most notably the Austin Chalk formation in Texas and Louisiana, the Meramec in Oklahoma and the Central Basin Platform in Texas. Production in the Austin Chalk peaked in the early 1990s, but tech innovations helped boost output to 57,000 barrels per day last year, up from 3,000 barrels per day five years ago and up 50% from 2016.
Pennsylvania's Public Utility Commission on Thursday authorized Energy Transfer Partners to restart operations on its Sunoco Mariner East 1 natural gas liquids pipeline following a service suspension order last month. However, the commission stopped short of allowing ETP to resume construction of the Mariner East 2 and 2X pipelines in West Whiteland Township.
Diversified Gas & Oil has agreed to acquire oil and natural gas assets in the Appalachian Basin for approximately $575 million from an unidentified seller. The assets include about 11,350 wells producing 32,100 barrels of oil equivalent per day.
Pioneer Natural Resources is selling its entire position in Colorado's Raton Basin, which includes 198,000 gross acres and 2,300 wells that produce coalbed methane, to Evergreen Natural Resources for $79 million. The divestiture aligns with Pioneer's plans to become a Permian Basin pure play.
Apex Clean Energy has expressed support for a pair of bills under consideration in the Ohio House and Senate that would ease the setback rules for wind development, allowing it to advance a total of six projects with a combined capacity of 1,500 megawatts, says the company. State Sen. Matt Dolan, sponsor of the Senate version, says he would combine his measure under the House effort to see them both move forward.
Orsted has kicked off operations at the 573-megawatt Race Bank Offshore Wind Farm off the coast of the UK, the firm said this week. "Race Bank fits very well into our existing pipeline of offshore wind projects and will contribute to the achievement of our strategic target of constructing 6,500 MW by 2020," said Orsted Executive Vice President Samuel Leupold.
Van Oord will test a variety of seabed materials that it says may stimulate oyster bed growth and biodiversity near offshore wind turbines positioned off the coast of the Netherlands. "Oyster beds prevent the erosion of the seabed around wind turbine foundations and increase biodiversity," it says.
The Salinas Valley State Prison and corresponding Correctional Training Facility in California are converting to wind energy and will source the power from an on-site turbine under development by Foundation Windpower. "It's broadening our program for making the prison system more energy self sufficient and helping the state meet its goals for reducing greenhouse gas emissions," California Department of Corrections and Rehabilitation spokesperson Bill Sessa said.
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