Demand destruction wrought by the impacts of COVID-19 is precipitating swift reassessment in the refining sector as the industry adjusts its level of refining capacity needed compared to what had been expected prior to the pandemic. The latest IHS Markit refined products demand outlook shows that the refining industry would need to shutter some 3.1 […]
Danos Has Award-Winning Year
Danos has been named the recipient of the 2020 Workforce Innovator of the Year Award by the Louisiana Association of Business and Industry (LABI). According to the organization, the award honors organizations “that have provided substantial innovations or contributions to workforce development in Louisiana. The award recognizes those who have excelled in creating, implementing, or […]
Industrial-Strength Brine, Meet Your Kryptonite
A thin coating of the 2D nanomaterial hexagonal boron nitride is the key ingredient in a cost-effective technology developed by Rice University engineers for desalinating industrial-strength brine. More than 1.8 billion people live in countries where fresh water is scarce. In many arid regions, seawater or salty groundwater is plentiful but costly to desalinate. In […]
O&G Economic Benefits Packaged for Easy Sharing
America is the world’s leading producer of oil and natural gas. The oil and gas industry supports millions of American jobs, provides lower energy costs for consumers, and ensures our energy security. The Trump Administration and the Department of Energy have shown commitment to supporting our oil and gas industry so that we continue to […]
Xcel Energy completes largest wind farm in New Mexico
The largest wind farm in New Mexico was scheduled to go online about Jan. 1, 2021, as work on the project near the Texas-New Mexico border was completed. Associated Press reported Dec. 16 that Xcel Energy installed 240 turbines on Sagamore wind project in a $900 million project that spans 100,000 acres. It will be […]
Port of Corpus Christi approves agreement for Bluewater offshore terminal
Commissioners of Port of Corpus Christi last month approved an agreement with Bluewater Texas Terminal, joint venture of Phillips 66 and Trafigura, to operate an oil export terminal capable of loading 16 VLCCs per month with crude oil from Permian Basin and Eagle Ford. The agreement allows Bluewater to build offices and monitoring station on […]
Permian Basin rig count falls to 173, Texas count up 1 to 159
Permian Basin’s streak of nine straight weeks of adding active oil and gas drilling rigs came to an end last week when its count fell by 1 to 173 rigs. U.S. and Texas counts increased. Baker Hughes said as of Dec. 23 there were 159 rigs in Texas (158 previous week), 65 rigs in New […]
DOE extends LNG export authorizations through 2050
U.S. Department of Energy said last month it has extended the terms of seven LNG export authorizations through 2050, including Golden Pass facility under construction in Sabine Pass and Texas LNG project proposed for Brownsville. “Critical to our nation’s energy independence are the prospects presented by these long-term LNG export extensions,” Mark Menezes, U.S. deputy […]
Earthstone to acquire IRM assets in Midland, Ector counties
The Woodlands-based Earthstone Energy said Dec. 17 it is acquiring Independent Resources Management and its Midland Basin assets. Purchase price is $185.9 million, including $135.2 million in cash (as of Nov. 30) and 12.7 million shares of Earthstone Class A common stock valued at $50.8 million (as of Dec. 16). Transaction is expected to close […]
Getting Our Story Told
Now that Election Day has passed and most races have been called, we have a much clearer picture of what 2021 will look like. Energy and the environment were leading topics in races around the country. One thing that became abundantly clear during this election season is that our industry has been used to highlight […]
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