Oil & Gas
Top stories summarized by our editors
10/19/2018

Brent crude futures fell 0.9% to $79.29 per barrel Thursday, the lowest level since Sept. 21, while West Texas Intermediate for November delivery settled 1.6% lower to $68.65 per barrel after the Energy Information Administration reported a large US crude inventory build. Crude oil "stocks are rising in the U.S. and the reason is because pipes out of the US for exports are maxed out while US production is rising," said Bjarne Schieldrop, SEB Markets' chief commodities analyst.

10/19/2018

A capital commitment from Charon System Advisors gives JupiterMLP sufficient funding to construct a crude oil pipeline from the Permian Basin to Brownsville, Texas. The pipeline will be able to ship one million oil barrels per day to Brownsville, where JupiterMLP is building more than 2.8 million barrels of storage and has secured government approval to load and unload vessels of up to 65,000 deadweight tons.

10/19/2018

Earthstone Energy has struck two deals to acquire 20,800 net acres in the Midland portion of the Permian Basin from Sabalo Energy for $950 million in cash and stock. The asset package includes production of 11,200 barrels of oil equivalent per day, 488 gross operated horizontal drilling locations and 349 gross non-operated horizontal drilling locations.

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Earthstone Energy
10/19/2018

The joint venture between Dauphine Midstream and Mercuria Energy Group, Pin Oak, has inked a 10-year deal with the Port of Corpus Christi in Texas to load Suezmax tankers at one of the port's crude oil export docks. Pin Oak will use Public Oil Dock 14, which has a minimum load of 40,000 barrels of product hourly.

10/19/2018

The Trump administration aims to push ahead with its deregulatory agenda in 2019, which may include the revision of several oil and natural gas regulations, according to the Office of Management and Budget's newly released Unified Agenda. Among the deregulatory actions being considered by the administration are changes to Obama-era rules governing oil and gas facility security, oil and gas measuring, well control, as well as offshore air quality control, reporting and compliance.

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Unified Agenda, Trump
10/19/2018

Royal Dutch Shell says it will invest $1-2 billion each year on Brazilian oil exploration and production through 2025. Shell is the second-largest oil producer in Brazil, which has billions of barrels of offshore pre-salt oil.

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Reuters
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Royal Dutch Shell
10/19/2018

Halliburton uses automated technologies to analyze drilling conditions in real-time and help make smart decisions on the oil rig quickly. A rotary steerable system helps operators place wells with precision and is integrated with automated drilling adviser software and an ultra-deep resistivity system, which includes geosteering software.

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World Oil
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Halliburton
10/19/2018

ExxonMobil recently bought large sites in Ghana, Namibia, Mauritania and South Africa as it looks for oil in western and southern Africa. The Texas-based company, which previously made discoveries in Nigeria and Angola, says it's acquiring seismic data and seeking drilling concessions in areas suspected of having hydrocarbon potential.

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ExxonMobil
10/19/2018

BP says its Thunder Horse Northwest Expansion in the Gulf of Mexico is starting four months early and coming in at 15% under budget. The expansion is expected to increase platform production by 30,000 barrels of oil equivalent per day, bringing daily production to over 200,000 barrels.

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Rigzone
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BP
10/19/2018

Poland PGNiG says it plans to buy Equinor's 42.4% Tommeliten Alpha natural gas and condensate field stake in Norway. The $220 million purchase would give PGNiG about 52 million barrels of oil equivalent from the field, which is operated by ConocoPhillips and is expected to begin production in 2024.

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Reuters
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ConocoPhillips, Equinor