The U.S. Environmental Protection Agency’s (EPA) recently proposed guidance for limiting greenhouse gas emissions from coal and gas-fired power plants could result in material compliance costs and erode operating margins for power generators reliant on fossil fuels, according to Fitch Ratings. In May, the EPA proposed new carbon emissions restrictions that would require phased-in implementation […]
Debate Surges over… AI Hallucination?
The rise of generative artificial intelligence (AI) tools with large language models (LLM) such as ChatGPT, Bard, and Bing, has ignited a spirited discussion among Twitter and Reddit influencers. Dubbed the “AI hallucination debate,” it centers around concerns regarding the accuracy and reliability of information generated by these tools, fueling calls for ethical oversight and […]
Putting the Legislature in Perspective
The Texas Legislature adjourned the 88th Regular Session sine die on the afternoon of May 29, 2023. It only took a meager few hours before Governor Abbott called the first special session with the very specific directives to pass legislation (1) cutting the property tax rate solely by reducing the school district maximum compressed tax […]
NextDecade makes final investment decision for Rio Grande LNG export facility
Houston-based NextDecade said recently it has made positive final investment decision to construct the first three liquefaction trains at the company’s Rio Grande LNG export facility in Brownsville. The $18.4 billion project – the largest greenfield energy project financing in U.S. history – will have capacity of 27 metric tons per year. NextDecade said Rio […]
Freeport, Corpus 2 of top 4 shipping points, Netherlands top destination for LNG
U.S. exported 366.7 Bcf of LNG in May 2023, according to the latest LNG Monthly issued by U.S. Department of Energy in July. That’s an increase of 4.4 percent from May 2022 and a decrease of 1.4 percent from April 2023. Netherlands was the top country of destination at 64.5 Bcf followed by France at […]
Matador reports record production in 2Q, including Lea County, N.M.
Dallas-based Matador Resources this week reported record production during second quarter of more than 130,000 boed. It was 3 percent above expectation of 126,500 boed and 23 percent better than first quarter production of 106,654 boed. Matador attributed the record production to the performance of its Rodney Robinson leasehold wells in Lea County, N.M., in […]
Rig count falls in Permian Basin for ninth time in last 12 weeks to 333
The count of active oil and gas drilling rigs in Permian Basin fell again last week for the ninth time in the last 12 weeks. According to the July 21 report from Baker Hughes, there are 333 rigs in Permian Basin (down 4 in the past week, down 16 from a year ago). Since adding […]
Enterprise constructing second, third gas processing plants in Delaware Basin
Construction is underway on projects in Delaware and Midland basins by Enterprise Products Partners that will give EPP the capability to process 3.8 billion cubic feet of natural gas per day and extract more than 520,000 barrels per day of NGLs in the Permian Basin. In Delaware Basin, Enterprise is expanding its Mentone cryogenic natural […]
Chevron’s Permian production sets record of 772,000 boed for 2Q
San Ramon, Calif.-based Chevron said Sunday in a quarterly earnings preview that its production in Permian Basin in second quarter increased 11 percent over 2022Q2 to 772,000 boed. Chevron said it was a quarterly record for the company. Early 2023 performance of company-operated assets is on track with fullyear guidance. Chevron previously said it allocated […]
Oxy’s 1PointFive signs oxygen contract with Matheson for DAC in Ector County
Occidental Petroleum subsidiary 1PointFive said last week it signed an oxygen supply contract with Nippon Sanso Holdings’ U.S. operating company Matheson Tri-Gas for the carbon capture, utilization and sequestration company’s first direct air capture plant in Permian Basin. Matheson will supply oxygen to Stratos, the plant under construction in Ector County. Oxygen is used to […]
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