More Oil & Gas News

Courts less deferential to regulatory agencies, GMU forum told

US Supreme Court decisions in the recently completed term suggest that judicial deference to federal regulatory agencies is starting to recede, speakers said at a July 8 forum sponsored by George Mason University’s School of Law. The trend potentially could affect how the oil and gas and other industries legally challenge regulations they consider burdensome and unreasonable, they suggested.

AER orders Apache Canada to address integrity of pipeline system

Alberta Energy Regulator has directed Apache Canada Ltd. to address the integrity of its pipeline management system because of “failure to follow provincial legislation and AER requirements.”

API releases pipeline safety recommended practice

The American Petroleum Institute released a pipeline safety recommended practice that it developed with engagement from the US Pipeline and Hazardous Materials Safety Administration, National Transportation Safety Board, and other key stakeholders.

MARKET WATCH: Brent oil prices climb; NYMEX oil price holds below $53/bbl

US light, sweet crude oil prices settled slightly lower on the New York market July 7 to remain under $53/bbl as Brent crude oil prices gained modestly on the London market while an extended deadline passed without an agreement between Iran and international powers over Iran’s nuclear program.

EIA: US oil output fell 50,000 b/d in May

Total US crude oil production dropped 50,000 b/d in May compared with April and is expected to continue falling through early 2016 before growth resumes, according to the US Energy Information Administration’s Short-Term Energy Outlook (STEO).

BLM approves ROW for Elko gas pipeline expansion project

The US Bureau of Land Management’s Tuscarora, Nev., field office signed a decision record approving a right-of-way for Paiute Pipeline Co.’s (PPC) 2015 Elko Area Expansion Project.

Obama urged by IPAA president to lift ban on US crude exports

Commending the administration for its actions allowing some condensate to be exported as a petroleum product, Independent Petroleum Association of America Pres. Barry Russell urged US President Barack Obama to go further and remove export restrictions for domestically produced crude oil.

AER shuts in 16 Murphy Oil sites in Peace River region for noncompliance

Alberta Energy Regulator said it has shut in or partially shut in 16 sites operated by Murphy Oil Co. Ltd. in the Peace River region. The sites were noncompliant with requirements “to capture and flare, incinerate, or conserve all casing gas and tank top gases” from heavy oil and bitumen operations based on a schedule submitted to and approved by AER.

MARKET WATCH: NYMEX, Brent oil prices take dive on world oil oversupply concerns

US light, sweet crude oil prices plummeted more than $4/bbl on the New York market July 6, marking a 5-month low, while Brent crude oil prices on the London market were down by more than $3/bbl.

WAFWA: Aerial survey finds lesser prairie chicken population grew

A recent range-wide aerial survey found the lesser prairie chicken population rose 25% from 2014 to 2015, the Western Association of Fish & Wildlife Agencies (WAFWA) reported. The bird’s habitat lies in five US Midcontinent states with oil and gas production.

Buru awarded onshore Canning licenses

Buru Energy Ltd., Perth, and Mitsubish Corp. have been granted two production licenses for Ungani oil field in the onshore Canning basin of Western Australia.

Cenovus sells royalty business for $3.3 billion

Cenovus Energy Inc., Calgary, inked an agreement to sell its wholly owned subsidiary Heritage Royalty LP to Ontario Teachers’ Pension Plan for gross cash proceeds of $3.3 billion. HRP holds 4.8 million gross acres of royalty interest and mineral fee title lands in Alberta, Saskatchewan, and Manitoba.

CERI: Energy, operational efficiencies possible in Canadian oil, gas

Measures can be taken by operators in the expanding resource-intensive Canadian oil and gas sector to improve both energy efficiency and operational efficiencies, according to a report from the Canadian Energy Research Institute (CERI).

AGL Energy to scale back upstream gas operations

Gas retailer AGL Energy Ltd., Sydney, says it will exit the oil business and massively scaling back its upstream gas operations.

Macondo settlement seen ‘positive’ for BP

BP Exploration & Production Inc.’s recent agreement to settle federal and state claims related to the 2010 Macondo blowout and spill improves the company’s financial outlook, according to Moody’s Investors Service.

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