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Rail Project That is Disputed Seeking to Ship Eastern Utah Oil

Rail proposal, which would connect the Uinta Basin’s waxy crude with Gulf Coast refiners. Thursday by securing a $21.4 million grant from a Utah panel. Know more about the disputed rail project deal as you continue reading below.

Firstly, the $1.4 billion rail line could increase industrial impacts by enabling Uinta Basin oil production to nearly quadruple to 300,000 barrels a day. Rail route would help counties develop their energy-dependent economies and take pressure off highways used by tanker trucks.

Project opponents — wearing badges that read “We’re being RAILROADED!” — stood for most of the three-hour meeting.

“The CIB is failing the public trust in the administration of this money,” complained Sarah Stock, program director with Moab-based Living Rivers who opposes energy development in Utah’s sensitive landscapes. “This money should go back to communities to alleviate the impacts of oil and gas. This is our only avenue to access the benefits of oil and gas extraction on this land.”

Firstly, the CIB’s move elated Mike McKee, a former Uintah County commissioner. Secondly, he is the ex-CIB member who now heads the seven-county group.

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Source: The Salt Lake Tribune

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The Walton Family Foundation reported this week that Midland is the “most dynamic” metropolitan statistical area in the nation.

The foundation ranked the Midland MSA as No. 1 in a report that detailed economic growth in the 379 metropolitan areas across the United States.

The most dynamic MSAs are ML, San Jose-Sunnyvale-Santa Clara, California, and ML, Michigan, according to the report.

In the smaller MSA rankings – those with populations below 500,000, Midland topped ML, Michigan, and Elkhart-Goshen, Indiana.

The foundation’s report shows ML ranked:

–first in job growth from 2017 to 2018,

–third in annual pay growth from 2016 to 2017 and

— seventh in GDP growth from 2016 to 2017.

Other index metrics showed that Midland ranked:

–first in short-term job growth,

–first in short-term job momentum,

–third in short-term average annual pay growth,

–fourth in per-capita personal income and

-seventh in short-term GDP growth.

Odessa ranked as No. 63, overall, and respectively at 17th for job growth, fourth for annual pay growth and first for GDP growth.

“The report is confirmation of what those of us living here, have known for some time, the Permian Basin is seeing unprecedented growth and a major force in fueling our state economy,” according to a comment from the Midland-Odessa Transportation Alliance about the report. “It also denotes the need for additional infrastructure investments in these critical economies.”

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Source: MRT.com

LNG Plant

Over objections of climate activists, Philadelphia City Council on Thursday approved a deal. It is with a developer who will build a $60 million liquefied natural gas or LNG plant on city land. It will be generating at least $1.35 million in profits that advocates say will help reduce residential heating bills.

Council, in a 13-4 vote, endorsed the Philadelphia Gas Works’ deal with Liberty Energy Trust. It is a Conshohocken firm that would build the LNG production unit at PGW’s Passyunk Plant. It will pay the city-owned utility annual fees and profits. PGW and the Gas Commission said the revenue would help reduce the need to raise customer rates.

Environmental groups, including the Clean Air Council and PennEnvironment, opposed the plant.

The activists said there were unanswered questions about what the new Passyunk Energy Center’s impact on the environment will be. They have also opposed new fossil-fuel infrastructure because it enables the production of more fracked natural gas from Pennsylvania’s Marcellus Shale region when they say the nation should be investing in renewable energy.

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Source: The Philadelphia Inquirer
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  • Reports of two oil tankers being attacked in the strategic Gulf of Oman sent world oil prices spike higher Thursday morning.
  • A third of all oil traded by sea passes through the Strait of Hormuz, the narrow mouth of the Persian Gulf near the Gulf of Oman.
  • Experts do not expect the jump in oil prices to lead to higher gas costs in the U.S.

Global oil prices surged on Thursday following suspected attacks on two oil tankers in the Gulf of Oman, leaving one with a damaged hull and the other on fire and adrift.

U.S. crude rose 4% to $53.22 per barrel after closing lower the previous day on concerns over rising stockpiles and a spiraling trade dispute between the U.S. and China. Prices of Brent crude oil, the international standard, jumped 4% to over $62 a barrel on the news. A third of all oil traded by sea passes through the strategically important Strait of Hormuz, the narrow mouth of the Persian Gulf near the Gulf of Oman.

“The knee-jerk reaction is more a response to the risks associated with higher tensions in the region and prospect of more attacks, than immediate impact on oil supplies,” Craig Erlam of OANDA said in a market commentary.

No oil prices spike in gas costs

Experts don’t expect the jump in oil prices to boost U.S. gas costs. Prices at the pump “will not immediately skyrocket because of the attacks on two oil tankers,”  tweeted Patrick DeHaan, head of petroleum analysis at research firm Gas Buddy.

Oil tank operators DHT Holdings and Heidmar have temporarily halted new jobs in the Gulf following the incidents, according to Reuters.

 

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Source: CBSnews.com

 

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Crude Texas Oil and Gas Production as reported to the Railroad Commission of Texas (RRC) for March 2019 came from 174,582 oil wells and 89,335 gas wells.

The Railroad Commission of Texas (RRC) has recently released its report for the period from April 2018 to March 2019, providing valuable insights into the state’s energy production. According to the report, Texas recorded an impressive production of 1.345 billion barrels of crude oil and 8.9 trillion cubic feet of total gas during this time frame. It is important to note that the RRC’s reported crude oil production figures are limited to oil extracted from oil leases and do not encompass condensate, which is separately accounted for by the RRC.

The substantial production figures highlight Texas’s robust energy sector and its significant contribution to the nation’s overall oil and gas supply. The state’s oil industry has been a key driver of economic growth, attracting investments and creating job opportunities. With its vast reserves, advanced drilling technologies, and favorable regulatory environment, Texas has emerged as a global energy powerhouse. The RRC’s report underscores the importance of accurately tracking and reporting the state’s crude oil production, providing stakeholders with essential data to make informed decisions and monitor the industry’s performance.

 

 

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Source: RAILROAD COMMISSION OF TEXAS

 

 

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global markets

Global Markets: That’s the mantra offered to those attending Hart Energy’s Midstream Texas conference last week at the Horseshoe.

“We’re going to have to export significant amounts of incremental production. Not just from Texas but from elsewhere in the U.S”. This is what Greg Haas, director, integrated oil and gas at Stratas Advisors, told his audience. Want to know more about the global markets?

The nation is already a net exporter of hydrocarbons. This is from the lightest gas to the lightest crudes. This is a major source of refined products to the rest of the world, he said.

“The U.S. must remain a net exporter,” he said, estimating at least 50 percent of U.S. field production, from crude to natural gas liquids to refined products must be destined for export.

Since the ban on exporting domestically produced crude was lifted in December 2015, exports have soared to about 3 million barrels a day and are expected to reach 4 million to 6 million barrels a day by 2030.

The Gulf Coast has enough capacity, but not the right kind of capacity, Haas said, including facilities that would allow Very Large Crude Carriers — which can carry up to 2 million barrels — to be fully loaded.

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Source: MRT.com

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states with cheap gas

There is a new report from the International Energy Agency. Gas accounted for 45 percent of the increase in total primary energy demand last year. Let’s talk more about how the states with cheap gas can fuel the global demand.

China is ground zero for the future of gas, accounting for 40 percent of global demand growth over the next half-decade. The main impetus for soaring gas consumption is to clean up horrific air pollution.

In the U.S., cheap gas has stoked demand, paving the way for billions of dollars’ worth of investment in petrochemical complexes and new gas-fired power plants. Cheap shale gas is killing coal, and new plants lock in future demand for gas. The same is true for nuclear power – as nuclear plants shut down, gas stands to benefit.

But a surge in natural gas production, in the U.S. but also elsewhere, is pushing up demand globally. The wave of LNG export terminals that have come online are also connecting more and more countries, making gas trade easier. The U.S. will overtake Qatar and Australia to become the largest LNG exporter in the world by 2024, the IEA said. Meanwhile, China will become the largest importer at the same time. That makes China’s import tariffs on U.S. LNG, which came in retaliation to Trump’s tariffs on China, particularly notable.

The market for LNG is facing a glut right now, but the IEA said that the surplus will flip into a deficit in the 2020s. The agency expects the next round of FIDs into new LNG export terminals to begin this year, after several years of paltry investment.

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Source: Oilprice.com

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Europe saved $8 billion on gas bill in 2018 due to LNG, reforms: IEA

Europe saved $8 billion on its natural gas bill last year because of surging U.S. shale production.

Fatih Birol, speaking as the IEA released its annual gas report, said 2018 was a “golden year” for natural gas. This accounted for 45 percent of total global energy growth, which in turn was the fastest in two decades.

He is saying that the shift in global gas markets is stemming from the U.S. shale gas revolution. It is because of the rapid expansion of the liquefied natural gas industry. Secondly, the EU liberalization of energy markets had forced Russia to change its oil-indexed pricing of gas.

The change began, he said, when rising U.S. gas output led Qatar, the world’s largest LNG exporter, to divert LNG supplies to Europe, shaking up pricing on the continent and widening the influence of the Dutch TTF benchmark price.

“Because of the big challenge from LNG and better regulation, there was a lot of renegotiation of pipeline contracts and we estimate in 2018, Russian pipeline exports to Europe were $8 billion cheaper than they would have been with conventional oil indexation,” he told Reuters.

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Source: Reuters.com

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drilled wells

In 2004, horizontally drilled wells account for roughly 15% of U.S. crude oil production in tight oil formations. By the end of 2018, that percentage had skyrocketed to 96%.

The Horizontally Drilled Wells allows producers to access more of the oil- and natural gas-bearing rock than drilling vertically.

The lateral length of horizontal wells has also increased. It allows for more exposure to oil and natural gas-producing rock from a single well.

Presently, essentially all (99%) hydrocarbon production from the Marcellus has been from horizontal wells.

Drilling horizontally allows producers to access more of the oil- and natural gas-bearing rock. This will increase exposure to additional hydraulic fracturing. It has greater water volumes and pounds of proppant (small, solid particles, usually sand or a manmade granular solid of similar size).

The lateral length of horizontal wells has also increased, allowing for more exposure to oil- and natural gas-producing rock from a single well. Because tight formations have very low permeability, which prevents oil and gas from moving toward the wellbore, using hydraulic fracturing to increase permeability, along with horizontal drilling, is necessary for oil and gas to be produced from these formations economically.

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Source: kallanishenergy.com

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UTICA SHALE WELL ACTIVITY AS OF JUNE 1

DRILLED: 229 (259 as of last week)

DRILLING: 156 (156)

PERMITTED: 489 (492)

PRODUCING: 2,223 (2,186)

TOTAL: 3,097 (3,093)

 

 

 

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Source: Cantonrep.com