Industry Guides & How-To Resources with specific types of property or business. Check our valuable guides on this page today at Ranger Land & Minerals.

Range pledges to achieve zero gas emissions

That Broke Ground

Zero Gas Emissions: The company that broke ground, literally and figuratively, in the Marcellus Shale is striving for another groundbreaking achievement.

Zero greenhouse gas emissions.

Zero Gas Emissions: Range Pledges to Achieve

The Largest Natural Gas Driller in the Region

Range Resources, the largest natural gas driller in the region, issued its first Corporate Sustainability Report on Tuesday. It is a 32-page summary detailing its successes in reducing emissions over the past decade, along with other corporate initiatives, accomplishments and goals.

The most prominent goal, which jumps off page 5, is this Report Highlight: “Range is actively working to achieve zero emissions across our operations.”

 

Commitment to Achieve Zero Emissions

The commitment to achieve zero emissions across all operations is a crucial and ambitious goal that Range is actively pursuing. As a responsible and forward-thinking company, Range recognizes the urgent need to address climate change and reduce its carbon footprint. By striving for zero emissions, Range not only aligns itself with global efforts to combat climate change, but also demonstrates its dedication to sustainable business practices.

A Comprehensive Strategy

To achieve this goal, Range has implemented a comprehensive strategy that encompasses various aspects of its operations. Firstly, Range is investing in research and development to explore innovative technologies and solutions that can help reduce emissions. This includes exploring renewable energy sources. Such as solar and wind power, as well as investing in energy-efficient equipment and processes. By constantly seeking out new and improved methods, Range aims to minimize its environmental impact and pave the way for a more sustainable future.

Additionally, Range is actively collaborating with industry partners, governments, and stakeholders to drive change on a larger scale. Through partnerships and alliances, Range can leverage collective knowledge and resources to accelerate the transition towards zero emissions. This includes sharing best practices, advocating for policy changes, and participating in industry initiatives focused on reducing greenhouse gas emissions. By actively engaging with others, Range seeks to foster a collaborative approach towards sustainability that goes beyond individual efforts.

In Conclusion

Range’s commitment to achieving zero emissions is a testament to its dedication to environmental stewardship. Through strategic investments, research, and collaboration, Range is actively working towards a future where its operations have minimal impact on the environment. By setting such an ambitious goal, Range aims to inspire other companies and industries to follow suit and join the global effort to combat climate change.

 

 

Read the full article here
Source: Observer Reporter

 

If you have further questions related to the  topic, feel free to reach out to us here.

2019 U.S. Oil Pipeline Report: Permian Production Spurs New Projects

U.S. Oil Pipeline Report

The U.S. Oil Pipeline Report, anticipated increase in production will be supported by further evaluation. Infrastructure development plans and secured capacity to transport oil and gas to ExxonMobil’s Gulf Coast refineries and petrochemical operations through the Wink-to-Webster, Permian Highway and Double E pipelines.

keystone-xl-pipeline-constructionPermian unconventional net oil-equivalent production is now expected to reach 600,000 bpd by 2020 and 900,000 bpd by 2023.

Meanwhile, the long-delayed Keystone XL project has returned to the forefront, as full construction was set to begin this year in Montana, North Dakota, South Dakota and Nebraska. One judge halted construction activity, but President Donald Trump has renewed support for the project.

In addition, a number of other projects have been humming along as the 2019 summer construction season ramps up. What follows is an overview of the oil-related pipeline projects currently under way or in the development process.

Read the full article here
Source: North American Oil & Gas Pipelines

 

If you have further questions related to the topic, feel free to reach out to us here.

Saudi oil Giant Aramco strikes deal to buy US natural gas from Sempra Energy

Saudi Oil Giant Aramco has signed an agreement

Saudi Oil Giant Aramco has signed an agreement to buy U.S. liquefied natural gas from San Diego-based utility Sempra Energy.

  • The agreement would see Aramco buy 5 million tons of liquefied natural gas per year. From Sempra’s Port Arthur, Texas export terminal.
  • This would be Aramco’s first deal to buy LNG from the United States. And advance the oil giant’s goal of becoming a major player in the growing global gas market.
  • If finalized, the deal would make it that Sempra Energy gives the green light to its Port Arthur LNG facility.

Sempra LNG and Aramco Services Company, Signed a Heads of Agreement

Subsidiaries of the two companies, Sempra LNG and Aramco Services Company, announced on Wednesday that they’ve signed a heads of agreement. Which sets up a deal that would see Sempra sell Aramco 5 million tons per year of LNG for the next 20 years. The agreement is subject to negotiation and finalization.

The agreement will see Aramco make a 25% equity investment in the facility.

 

Read the full article here
Source: CNBC

 

If you have further questions related to the topic, feel free to reach out to us here.

U.S. oil slips on demand worries; but global crude buoyed by Mideast tensions

U.S. Oil Slips

U.S. Oil Slips – U.S. prices settled lower Tuesday as U.S.-China trade woes weighed on energy-demand prospects. However, Middle East tensions provided some support for the global benchmark.

“The U.S.-China trade war…has already surprised markets by intensifying further than anyone initially expected, and because of that, near term risks are to the downside right now,” said Richey.

ExxonMobil

ExxonMobil Evacuates 30 Engineers from Iraq, Basra Oil Company Says

ExxonMobil evacuated about 30 foreign engineers from Basra, Iraq. This is as a “temporary precautionary measure,” the government-owned Basra Oil Company said Saturday.

The staff members evacuated to Dubai and there are “no indicators that companies operating the oil fields are facing any security threats,” the Basra Oil Company said.
“ExxonMobil has programs and measures in place to provide security to protect its people, operations, and facilities. We have a commitment to ensuring the safety of our employees and contractors. This is at all of our facilities around the world,” spokesperson Julie L. King said.
Earlier this week, the US State Department ordered the departure of non-emergency US government employees from Iraq. Moreover, this is amid growing tensions between the United States and Iran, Iraq’s neighbor to the east. Tensions have soared between Washington and Tehran. Since Washington scrapped a landmark nuclear deal with Iran that briefly brought an end to its economic and diplomatic isolation.
The Trump administration reimposed stringent sanctions on Iran, including on its enormous oil industry. Recently, the Trump administration has accused Tehran of threats against US troops and interests.

Recent Attack on Oil Tankers

The issue of Iranian involvement in recent attacks on oil tankers in the Gulf and on a Saudi oil station has been marred by conflicting claims and denials from both sides. While the United States and its allies have pointed fingers at Iran, accusing them of orchestrating these attacks. They argue that accusations are baseless and claim that it is the United States who is unnecessarily escalating tensions with Tehran.

The Iranian government has consistently continue its innocence, insisting that it is committed to peaceful coexistence and stability in the region. Iranian officials assert that they have no reason to engage in such acts of aggression, as it goes against their foreign policy principles and strategic interests. They have called for a thorough and impartial investigation into the incidents, urging the international community to approach the matter with caution and skepticism towards the accusations made by the United States and its allies.

Iran’s denial of involvement has further complicated an already tense situation in the Gulf region. The accusations against Iran have heightened concerns about a potential military confrontation between the United States and Iran. The possibility of devastating consequences for the global economy and regional stability. As the international community closely monitors the developments, it is crucial to approach the situation. A balanced and objective perspective, considering all available evidence before drawing any conclusions about the parties involved in these attacks. Only through a transparent and thorough investigation can the truth be reveal and a peaceful resolution be fulfill.

If you have further questions about ExxonMobil updates and news, feel free to reach out to us here. 
Petroleum Industry

Bigger, Better, Bakken: Petroleum Industry Optimism In North Dakota

The Bakken formation centered on western North Dakota already heading to Asian and European markets. The future for North American shale and onshore production is bright. This is for at least the next two decades, appears promising. There’s more to their petroleum industry.

Approximately $580 billion per year—more than $12 trillion in total—is a requirement. This is according to the IEA. This is in order to meet that growth in energy demand from onshore and offshore investments.

Applying “lean capabilities” and having the ability to ramp production up from 130,000 barrels per day to aas 200,000 bpd. This would take additional infrastructure by 2021. This is according to Biggs.

“The Bakken is our crown jewel in the near term,”. An internal study commissioned by Hess’s board pointed to value delivery that Biggs said placed his operations in the top-tier of the basin, saw cost reductions and asset optimizations was adding value, called for additional technological investments, and put the company in a robust position regarding remaining inventory.

“To do that we have to have an infrastructure in place that can get the crude, natural gas, and liquids out of the basin,” Biggs continued. He pointed to projects like the recently completed Dakota Access Pipeline (DAPL) that allows the company to be well-positioned for near term expansion.

Read the full article here
Source: Fair Field Sun Times

If you have further questions about the Petroleum Industry, feel free to contact us here.

Trade war? No…but Middle East Tensions Keeping Crude Oil Prices High

The oil market has already been tightened due to ongoing OPEC plus supply cuts. There is a production decline from Iran and Venezuela, and a Russian outage due to the Urals contamination. Is there an ongoing Trade War?

Heightened tensions in the Middle East are keeping oil prices firm. The US WTI crude and the Asian benchmark Brent have gained about three percent so far during this week.

Increasing trade war tensions between the US and China are a threat to global economic growth and demand for oil. And oil traders are now more worried about supply tightness than the slumping demand.

The group will meet in June to decide whether to extend the pact. It is expected that if OPEC sticks on with its April output numbers it would lead to an oil undersupply in the world market this year.

In the meantime, the output from the other top producers outside OPEC, like the US would keep the market well supplied. As per IEA, the booming oil output from the US would offset the shortage of exports from Iran and Venezuela.

In the first half of the year, US output was halted due to reduced rig counts and maintenance in the Gulf of Mexico but the agency expects higher output this year due to the uptick in drilling activity.

Read the full article here
Source: moneycontrol.com

If you have further questions related to any oil trade war, feel free to reach out to us here.

 

Natural Gas Price Prediction – Prices Rebound but Remain Range bound

Natural gas prices whipsawed initially moving lower and then rebounding and settling the session up slightly more than 1%. This came on the heels of the Department of Energy’s inventory report which basically came out in line with expectations. Let’s read more about natural gas price prediction below.

The trajectory of the gains continues to point to higher inventories. This is as the current levels attempt to get back to the 5-year average level. The 5-year average price of natural gas is $3 per mmbtu. It provides about 50 cents per mmbtu of upside if demand started to pick up. The weather is expected to remain near normal for the next 8-14 days. This will keep demand for residential consumption steady. The next big events are supply disruptions from storms. This is a trade deal that would begin to accelerate LNG exports back to China without a 25% tariff would also likely give prices a pop.

Technical Analysis

Natural gas prices rebounded after testing the 10-day moving average which is seen as short-term support near 2.60. Resistance is seen near the 50-day moving average at 2.73. Short-term momentum turned positive as the fast stochastic generated a crossover sell signal. This indicator has whipsawed along with prices. The current reading of 78 is just below the overbought trigger level of 80. Medium-term momentum is neutral to positive as the MACD (moving average convergence divergence) histogram is printing in the black with a gradually increasing trajectory which points to consolidating to higher prices.

Read the full article here
Source: fxempire.com

If you have further questions related to natural gas price prediction, feel free to reach out to us here. 

Exxon’s Permian Production to Yield $64B for New Mexico

Permian Production

Focus on Permian production would generate $64 billion in net economic benefits. The scope of benefits is for the state and local communities for the next 40 years. These are the findings from the study by Impact Data Source.

The study said the state government would receive $44 billion from new leases and royalties. To sum up, this includes $8.5 billion from state oil and gas severance taxes. Lastly, it is with an assumed oil price of $40 per barrel.

“The Permian Basin is the engine of America’s energy renaissance and New Mexico residents will see direct economic benefits and opportunities from our planned investments,” Exxon CEO Darren Woods said in a company statement.

“The benefit to this state’s bottom line, as represented by investments from companies like ExxonMobil, has been enormous,” said New Mexico governor Lujan Grisham. “My administration has been and will continue to be responsive to changes in the energy sector and the need for meaningful regulation and diversification as a means of ensuring a sustainable future – for our children, their education, the infrastructure that will support our collective future and more.”

In March, Exxon revealed its plans to increase Permian production. Likewise, the estimate is to more than 1 million barrels of oil equivalent per day by 2024.

The southeastern New Mexico communities where ExxonMobil o

Read the full article here
Source: Rigzone.com

If you have further questions about the Permian production, feel free to reach out to us here. 

The Permian Basin Is Turning Into an ATM for Oil Stock Investors

A Massive Growth

The Permian Basin has become a massive growth engine for the U.S. oil industry over the last few years. The driving force has been the discovery of new techniques that have unlocked the treasure trove of oil and gas trapped in the region’s tight underground rock formations. That has unleashed a wave of drilling that’s sent output soaring. Oil companies or Oil Stock Investors are now producing an ever-increasing gusher of cash flow thanks to the region’s low drilling costs, higher oil prices, and efficiency gains.

While the industry had been plowing that money into drilling more wells and acquiring additional land, it has recently reached an inflection point; many drillers no longer need to invest as much money to maintain a healthy growth rate. That has freed them up to allocate that cash to other activities. For the most part, they’re returning their growing windfalls to shareholders through higher dividends and stock buybacks.

Expect more money to continue flowing to investors

Oil companies or Oil Stock Investors are starting to reap the rewards of their investments in the Permian Basin. Many are now hauling in more cash than they need to fund growth, which is allowing them to send that money back to shareholders through rapidly rising dividends and significant share repurchase programs. That trend appears poised to continue as the industry turns this low-cost, oil-rich region into an ATM for investors.

 

Read the full article here
Source: The Motley Fool LLC.

 

If you have further questions related to the [insert target keyword] topic, feel free to reach out to us here.