Thanks to its lower-carbon footprint compared with natural gas, hydrogen could provide an opportunity for oil and gas companies to accelerate their transition to a greener future as well as help them compete with renewables. Equinor and Royal Dutch Shell are among the oil majors actively exploring ways to convert gas into hydrogen and use it to fuel power plants, heat dwellings and other applications.
Private equity firm Apollo Global Management is reportedly may purchase the debt of troubled driller Sanchez Energy and assume control of the company. Sanchez, burdened with $2.4 billion in debt, is working to develop a restructuring plan, but a bankruptcy filing is not off the table either.
Oil producers in the central US need oil prices to average $66 per barrel in order to expand operations significantly, up from $63 per barrel six months ago, according to the Federal Reserve Bank of Kansas City's Tenth District Energy Survey. Activity in the region increased slightly during the second quarter, but expectations for future expansion and business conditions fell.
Sen. Cory Gardner, R-Colo., announced Monday that the Interior Department's Bureau of Land Management will move its headquarters from Washington, D.C., to Grand Junction, Colo. Colorado Gov. Jared Polis endorsed the move, saying, "Grand Junction is the perfect location for the BLM because of community support, (its) location closer to the land BLM manages and the positive impact it will have on our western Colorado economy."
The House Energy and Commerce Committee is expected to mark up the Pipeline and Hazardous Materials Safety Administration reauthorization and 10 other energy-related measures tomorrow. Another seeks to set physical and cybersecurity guidelines for pipelines.
National Grid Ventures has finalized its $100 million purchase of Geronimo Energy, which oversees 2.2 gigawatts of installed wind and solar capacity. "We believe in the long-term growth potential of renewable generation, driven by consumer demand and technological advances," says NGV President Badar Khan.
American Electric Power has applied for regulatory approval to buy three Oklahoma-based wind farms with a combined capacity of 1,485 megawatts. If authorized, Southwestern Electric Power would get 810 MW of the capacity and Public Service Co of Oklahoma would receive the remaining capacity.
The wind industry has become more competitive since the introduction of the Production Tax Credit in 1992, but after the incentive's phasedown will face competition with federally backed coal, gas and solar, writes Benjamin Silliman, research associate for energy and American foreign policy at the Council on Foreign Relations. "A new set of federal support mechanisms that expand transmission infrastructure, research and development, and energy storage while reducing investor risk through a loan guarantee program would create a more equitable market environment that will promote the wind energy buildout," he writes.
Xcel Energy has launched the 239-turbine Hale Wind Project outside Lubbock, Texas. "There's a lot of local appreciation and interest in this type of wind facility because this is going to be a major investment in the communities of Plainview and Petersburg, Abernathy," says executive David Hudson.
Lincoln Land Wind has launched a business directory that wind farm construction teams can use to source potential subcontractors. "This program helps local businesses get a jump-start on the process, ensuring that the project construction contractor knows who they are and has the opportunity to reach out directly when hiring begins," says Holly McCoy-Nelson, the company's senior development manager.
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