Oil and Gas Journal's News & Analysis
Wed, 20 Mar 2019 21:51:00 GMT
Williams Cos. has entered into a long-term partnership with Canada Pension Plan Investment Board to establish a $3.8-billion joint venture that will include Williams’ wholly owned Ohio Valley Midstream system and 100% of the Utica East Ohio Midstream system. CPPIB will invest about $1.34 billion for a 35% ownership stake in the venture. Williams will retain 65% ownership, will operate the combined business, and will consolidate the financial results of the venture in Williams’ financial statements.
Wed, 20 Mar 2019 18:01:00 GMT
The latest region-wide Gulf of Mexico lease sale, held Mar. 20 in New Orleans by the US Bureau of Ocean Energy Management, generated $244.3 million in apparent high bids for 227 tracts. There were a total of 14,699 tracts offered in the gulf’s federal waters.
Wed, 20 Mar 2019 17:12:00 GMT
The US Environmental Protection Agency published a list of 40 chemicals on Mar. 20 that it intends to review and prioritize for risk evaluation under the amended Toxic Substances Control Act (TSCA). It said it was releasing the list to give the public opportunities to submit relevant information such as the uses, hazards, and exposure for these chemicals.
Wed, 20 Mar 2019 16:53:00 GMT
Canadian oil sands production in 2019 will be almost 230,000 b/d lower than last year, according to ESAI Energy’s recently published North America Watch. Planned Canadian oil sands projects are being pushed back in response to further delays in pipeline egress and the mandated output cuts by the Alberta provincial government.
Wed, 20 Mar 2019 16:09:00 GMT
Nuevo Midstream Dos plans to expand a crude oil gathering, storage, and intermediate transportation system in the Eagle Ford shale following completion of a deal to acquire Republic Midstream from an affiliate of ArcLight Capital Partners.
Wed, 20 Mar 2019 15:36:00 GMT
Light, sweet crude oil for April delivery declined slightly but settled above $59/bbl on Mar. 19 for a second consecutive day. Some suggested market participants awaited the weekly US oil and products inventory to be released on Mar. 20.