US shale oil production is projected to grow by 74,000 barrels per day in October to a fresh record of 8.843 million barrels per day, according to the Energy Information Administration. The Permian Basin will see a 71,000 bpd increase to a high of 4.485 million bpd, while Bakken Shale oil output is expected to increase by roughly 2,000 bpd to hit a record 1.471 million bpd.
Forrest Hoglund, the former CEO of shale producer EOG Resources, is hoping to upend the US natural gas export business with his new venture, SeaOne Holdings, which has developed a proprietary technique for shipping gas called compressed gas liquids. The CGL method can deliver gas without first removing byproducts such as propane and butane, which Hoglund believes will offer the company a competitive edge in short-distance hauling, particularly to the Caribbean region.
Drone attacks on Saudi Arabia's oil facilities over the weekend helped lift the shares of several embattled US energy companies, with Whiting Petroleum, Oasis Petroleum and California Resources gaining as much as 49%, 29% and 38% respectively. Analysts at SunTrust Robinson Humphrey believe Centennial Resources is among the producers best positioned to take advantage of the oil price spike caused by the attacks.
Energy Transfer has reached a cash-and-stock deal worth $1.3 billion to acquire rival SemGroup, whose portfolio includes crude oil and natural gas liquids gathering assets and pipelines in the Denver-Julesburg Basin and Anadarko Basin. Energy Transfer also announced plans to build a 75-mile oil pipeline to connect SemGroup's crude oil facility on the Houston Ship Channel with its terminal in Nederland, Texas.
North Dakota set a new oil production record of 1.44 million barrels per day in July, while natural gas output reached a high of 2.94 billion cubic feet of natural gas per day, the state Department of Mineral Resources said. However, drillers burned off 23% of gas output during the month.
A joint venture between Baker Hughes and C3.ai has released its first product, a software application that combines deep learning predictive models, natural language processing and machine vision to predict asset reliability in the oil and gas industry. It continuously collects and analyzes data from plant-wide sensor networks, integrating it with information from schematics and historical data.
Federal Energy Regulatory Commission Chairman Neil Chatterjee said Monday that the agency plans to hire more people by spring 2020 to work through the permit applications for liquefied natural gas export terminals. The five-member FERC is now down to three commissioners, but Chatterjee said he is confident any permit decisions will be valid.
Pacific Power achieved its goal to source 9% of its power from wind and other renewables in 2019, according to the Washington Utilities and Transportation Commission. The state requires utilities to source a portion of their energy from renewables under the 2006 Energy Independence Act.
Mayflower Wind, Bay State Wind and Vineyard Wind are competing in Massachusetts' latest wind procurement round and the details of their respective proposals are now public. Six of the nine proposals are for 800-megawatt projects. The winning bids will be selected for further negotiation with utilities by Nov. 8.
Government mechanisms helped scale land-based wind and solar, resulting in reduced costs and allowing the energy sources to play a greater role in curbing carbon emissions, says Microsoft co-founder Bill Gates. Now that the industries are relatively mature, governments can use similar tactics to help offshore wind and battery storage grow and achieve further emissions reductions, he says.
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