Newfield Exploration has completed the sale of its Texas holdings in two separate deals totaling $380 million. Protege Energy has acquired the company's Eagle Ford Shale holdings, while an undisclosed buyer has purchased its South Texas natural gas assets.
Ineos Group's Insight tanker has arrived in Scotland with a load of ethane, marking the first delivery of US shale natural gas to the UK. The tanker was greeted by stormy weather that forced it to return to deeper waters, which has delayed the unloading of its cargo.
The Justice Department has announced that Kirby Inland Marine has agreed to pay $4.9 million in penalties to settle claims resulting from a 2014 oil spill in the Houston Ship Channel. As part of the agreement, the company has committed to implementing operating improvements across its fleet.
A federal appeals court heard arguments Tuesday from a coalition of states and businesses that oppose the Environmental Protection Agency's Clean Power Plan. West Virginia Solicitor General Elbert Lin told judges that the EPA overstepped its authority with the plan.
Politicians should acknowledge the oil and natural gas industry's impact on the economy and outline their positions on issues such as the Dakota Access Pipeline, American Petroleum Institute President and CEO Jack Gerard said Monday. "If President Obama's campaign message in 2008 was 'Yes, We Can,' the oil and gas industry's in 2016 is 'Yes, We Did,'" he said.
Texas Attorney General Kenneth Paxton warned on Monday that the consequences of the Obama administration's Clean Power Plan would outweigh the benefits. The US Court of Appeals for the District of Columbia Circuit will hear opening arguments today about the legal implications of the plan.
The Oklahoma Center for the Advancement of Science and Technology has received a $1 million federal grant from the US Economic Development Administration. The grant is intended to help rural Oklahoma energy companies diversify and subsequently create jobs.
A temporary bypass has put a halt to the supply disruption that was caused by a leak in the Colonial Pipeline in Alabama, but the effects are still being felt from the ensuing gasoline inventory drawdowns. "While it appears that the worst may be behind us, we're not out of the woods yet, where gasoline inventory levels are concerned," said Gregg Laskoski, a senior petroleum analyst for GasBuddy.
US oil production has decreased by just 535,000 barrels per day this year, and Goldman Sachs has forecast that production will increase by up to 700,000 barrels a day by the end of 2017. Analysts attribute the expected rebound to the resilience of the US shale industry.
Companies are looking for sources of lithium as demand increases for rechargeable batteries for Tesla cars and energy storage systems, and they are going to Nova Scotia to seek it. Junior miners are staking claims in the province as prices skyrocket in China.
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