Oil & Gas
Top stories summarized by our editors
5/26/2017

Energy companies OMV and Abu Dhabi National Oil have agreed to cooperate on downstream projects. They will work together on exploration, refining operations, technical support and maintenance, according to a memorandum of understanding.

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Reuters
5/26/2017

London-based INEOS has purchased oil and natural gas assets from Denmark-based Dong Energy for $1 billion. The assets include an estimated 570 million barrels of oil and gas reserves in the North Sea.

5/26/2017

Hot days help cause rockfalls at unstable cliffs, according to a study that focused on rock slides at Yosemite National Park. Scientists, who found about 15% of rockfalls occurred at the hottest times, say unstable slabs move about 8 millimeters off their cliff during a hot day and go back about 7 millimeters during the cool night, leading to separation.

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Yosemite National Park
5/25/2017

EP Energy and Tesoro have set up a joint venture to fund an oil and natural gas development program in Utah's Uinta Basin. As part of the partnership, EP will drill 60 wells, while Tesoro will purchase all production from the wells and provide funding in exchange for a 50% stake in the wells.

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Reuters
5/25/2017

US energy systems and infrastructure are grappling with an increasing number of cybersecurity threats despite oil and natural gas companies' and the Transportation Security Administration's best efforts to strengthen protections. "There appears to be an increasing level of activity, sophistication and maturity of threat actors, in particular nation state actors, that wish to disrupt the U.S. bulk power system and the U.S. gas transmission or distribution system," Dominion Energy said in a filing with the Securities and Exchange Commission.

5/25/2017

US crude stockpiles plunged by 4.4 million barrels in the week ended May 19, beating expectations for a 2.8 million-barrel drop and marking the seventh consecutive week of declines, according to the Energy Information Administration. Gasoline supplies fell by 800,000 barrels, while distillate inventories plummeted by 500,000 barrels.

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MarketWatch
5/25/2017

Pipeline operator Crestwood Equity Partners and energy investment firm First Reserve have established a joint venture to build a cryogenic gas processing plant in Orla, Texas, and an adjoining 33-mile pipeline from Eddy County, N.M., to Texas. The plant, scheduled to be completed in late 2018, will have a daily capacity of 200 million cubic feet of natural gas sourced from the Delaware Basin.

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FuelFix
5/25/2017

Oilfield service providers in Alberta, Canada, are missing out on millions of dollars in revenue because of a shortage of crews that threatens to derail the country's oil industry from its path to recovery. Many of the people that lost their oil patch jobs during the downturn now prefer working in industries such as mining, construction and forestry that offer steady work even though the salaries may be lower.

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Bloomberg
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oil industry, Alberta, Canada
5/25/2017

Anadarko Petroleum will permanently shut down three natural gas wells in Firestone, Colo., including the one that was linked to a fatal home explosion on April 17, even though it believes the wells are safe. Last month's explosion that killed two people was caused by odorless natural gas leaking from a severed 1-inch pipeline connected to one of the wells that Anadarko will shut down.

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The Associated Press
5/25/2017

Houston-based Linn Energy announced that it's selling its properties in California's San Joaquin Basin to an undisclosed buyer for $263 million. The asset package includes 500 acres in South Belridge field in Kern County with first-quarter net production of 3,000 barrels of oil equivalent per day.

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Oil & Gas Journal