Industry News
Oil & Gas
Top stories summarized by our editors
6/18/2021

Miners at the Jwaneng mine in Botswana earlier this month found a 1,098.3-carat diamond, which may be the third-largest diamond ever mined. The diamond is 73 millimeters long, 52 millimeters wide and 27 millimeters thick, says the mine's owner, Debswana, which is owned by the Botswanan government and the De Beers Group.

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The Associated Press
6/18/2021

Last year's pandemic-induced oil downturn has made US shale producers more prudent and forced a shift from capital-intensive growth to capital preservation and discipline, putting the industry on track to generate a record of more than $30 billion in free cash flow this year, according to Bloomberg Intelligence. Drillers will likely continue to prioritize investor returns even as spending by the sector is expected to rise from $58 billion in 2021 to $80 billion in 2022, as per IHS Markit estimates.

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Yahoo
6/18/2021

Chevron and Occidental Petroleum have evacuated workers from some US Gulf of Mexico platforms and activated storm protocols in preparation for a possible tropical storm that has begun to take shape in the region. "We will continue to closely monitor the storm and we remain focused on the safety of our workforce, the integrity of our facilities and the protection of the environment," said Chevron spokesperson Deena McMullen.

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Reuters
6/18/2021

US natural gas production has rebounded from a low of 87.8 billion cubic feet per day in May 2020 to 92.2 Bcf/d this past May and is projected to average about 94.8 Bcf/d at the end of 2022, according to the Energy Information Administration. Natural gas rig activity has also increased from 68 in July 2020 to 96 as of June 8, with the Haynesville Shale accounting for 48 of those.

6/18/2021

Maine Gov. Janet Mills on Thursday signed a law that directs the state's treasury and $17 billion pension fund to divest from fossil fuels by 2026. The law makes Maine the first US state to pass statewide legislation on fossil fuel divestment.

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Yahoo
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Treasury
6/18/2021

The Senate on Thursday voted 88-9 to confirm Tommy Beaudreau to approve his nomination to serve as deputy Interior secretary. "His performance at his nomination hearing demonstrated that he has both a firm grasp of the issues and the ability to listen, learn and work with all sides and to find common sense solutions to difficult problems," said Sen. Joe Manchin, D-W.Va.

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The Hill
6/18/2021

Scientists have developed flood forecasting systems for several Indian cities, including Chennai, Bengaluru and Mumbai. The Chennai system, launched in 2019, includes river, tidal and storm-surge modeling and a digital elevation map to provide automated real-time forecasting, while the Bengaluru system collects real-time rainfall data with water-level sensors and automatic gauges.

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Eos
6/18/2021

VAALCO Energy says it has reached an agreement with Borr Jack-Up XIV to drill two development wells and two appraisal wellbores off Gabon's coast. The rig could arrive at the drilling site in Central Africa by December, VAALCO says.

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Rigzone
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VAALCO Energy, VAALCO
6/18/2021

An earthquake shook parts of Indiana, Illinois and Michigan on Thursday. The quake, which originated in Indiana about 3.2 kilometers northeast of Montezuma, had a magnitude of 3.8 and occurred about 3.1 kilometers underground, the US Geological Survey said.

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US Geological Survey
6/17/2021

The Transportation Security Administration is preparing a second cybersecurity directive for pipeline companies in response to the Colonial Pipeline ransomware attack, TSA Assistant Administrator for Surface Operations Sonya Proctor announced. The new directive "will require more specific mitigation measures, and it will ultimately include more specific requirements with regard to assessments," Proctor said.

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The Hill