As the residents of the Northeast shiver through this winter’s cold weather and New Englanders pay some of the highest electrical rates in the U.S., Jack Gerard, president and CEO of the American Petroleum Institute, sees a shale gas solution nearby. Speaking last week in Washington, D.C., at the organization’s 2018 State of American Energy…
Luke Geiver
Energy investment team puts major stake in shale drill bit maker
Intervale Capital, a specialized energy investment firm, has taken note of increased drilling intensity, longer laterals and higher stage counts throughout most of North America’s shale plays. This week the company said it has become a majority stakeholder in Oklahoma-based PDC Logic. Founded in 2007, PDC Logic manufactures highly engineered drilling and completion bits that…
Patrick Miller
Keystone XL gets enough commercial commitments to continue
As a result of a successful open season, TransCanada said it has enough commitments from oil producers to move ahead with the Keystone XL project. The open season—which began last September—enabled the Calgary-based Canadian company to secure 20-year commitments to transport 500,000 barrels per day of crude from Alberta tar sands to refineries on the…
PennEast Pipeline Co.
Major Marcellus shale pipeline gains approval
After incorporating the feedback from landowners, public officials, regulators and other stakeholders over the last three years as part of a concerted effort to include community input and reduce environmental impacts, the Federal Energy Regulatory Commission (FERC) recognized the clear need for, and public benefit of, the PennEast Pipeline and issued an Order under section…
Patrick Miller
RPSEA rolls out 10-year plan for U.S. oil and gas R&D
The Research Partnership to Secure Energy for America (RPSEA) has released a technology roadmap for the U.S. onshore and offshore oil and gas industry, providing an outline of the challenges and research needs for the industry over the next decade. The organization’s network of experts examined where research and development investments can provide the best…
ExxonMobil
After US tax changes, ExxonMobil ramping up Permian production
ExxonMobil has announced that it plans to triple total daily production to more than 600,000 oil-equivalent barrels by 2025 from its operations in the Permian Basin in West Texas and New Mexico. Tight oil production from the Delaware and Midland basins will increase fivefold in the same period. Recent changes in the U.S. corporate tax…