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Since 2021, the M-U has been rangebound in producing somewhere between 34 and 37 Bcf/d (see the chart). The main reason we haven’t expanded our production is the lack of transportation (pipelines) to move our molecules to.
The company broke ground on the construction of the facility in February 2023, with the development of storage facilities and the associated pipeline advancing in February 2024. Improved fiscals introduced through Nigeria’s Petroleum Industry Act in 2021 further enticed investments by both international and regional players.
Some Canadian politicians are now calling for a new crude pipeline from Alberta to the Pacific coast, as part of a broader effort to strengthen the country’s economy in the face of U.S. billion after paying down a combined total of almost C$22 billion in debt between 2021 and 2024. tariff threats.
Strategic Petroleum Reserve is depleted by 200 million barrels to 2021. This shift could bolster arguments for increased investment in Canadian oil infrastructure, including pipelines. Israel’s military strikes in Iran have reminded traders that Middle Eastern oil supplies are not risk-free.
The Fram South development consists of Echino South, discovered 2019; Blasto, discovered 2021; and two smaller discoveries. Oil from the Fram field goes through Troll Oil Pipeline II to Mongstad, and gas is exported to Kollsnes via the Troll A platform. Fram South is in the northern part of the North Sea, about 20 kilometers (12.43
For pipelines, Kongsberg Ferrotech has developed a set of robotic solutions called Nautilus to reduce inspection and repair time to just days. “With about 160,000-kilometer subsea pipelines around the world, unmitigated leaks are causing environmental spills on a daily basis.
10 Based on the European Unionâs 2021 emissions. If not utilized on site, captured CO 2 can be compressed and transported via pipeline, ship, rail, or truck, and then repurposed for various applications or injected into deep geological formations (such as saline formations or depleted oil and gas fields) for permanent storage.
bpd (2024) → 13.4M bpd (2025) Gas Output: EIA sees an increase to 105.9 Bcf/d in 2025 from 103.2 bpd (2024) → 13.4M bpd (2025) Gas Output: EIA sees an increase to 105.9 Bcf/d in 2025 from 103.2 bpd (2024) → 13.4M bpd (2025) Gas Output: EIA sees an increase to 105.9 Bcf/d in 2025 from 103.2
Image by AlbertPego via iStock The United States displaced Russia as the European Union’s second-biggest natural gas supplier in the first quarter due to the expiry of imports of Russian pipeline gas via Ukraine at the start of the year, the European Commission has reported. Bcm and 39 percent year-on-year.
No Member State will be left without energy as a result of this proposal” The proposal bans the import of gas in gaseous (via pipeline) and liquefied state that “originates in or is exported directly or indirectly from the Russian Federation” from January 2026, the official text stated. Azerbaijan contributed seven percent.
In case you somehow forgot, the 2021 Valentines Day storm coined “Snovid,” “Snowmageddon,” or officially labeled Winter Storm Uri, blanketed Texas in snow and ice, even bringing snowfall to Galveston Beach. Kinder Morgan is a natural gas pipeline that purchases, sells, and transports gas.
According to the latest Baker Hughes report, the total number of active rigs fell by 4 to 559, the lowest level since November 2021. Capex trends : E&Ps to cut spending 3% in 2025 vs. 2024 2024: Flat spending 2023: +27%, 2022: +40%, 2021: +4% Crude Output Forecast (EIA) : 2024: 13.2 June 9, 2025 U.S. Here is a summary of the U.S.
Under the contract scope, McDermott will execute the transportation and installation of flexible pipelines, umbilicals, and associated subsea equipment for two new wells at the Papa-Terra field and two new wells for the Atlanta Phase 2 development. Image by Hello my names is james,I'm photographer.
The rig count is down 44% from its 2022 peak of 780 , reflecting both post-pandemic normalization and broader market hesitancy. Strategic Shift Toward Gas: Natural gas rigs are up 7 YoY , showing resilience.
Oil rigs at their lowest since October 2021. Gas rigs up YOY , signaling selective interest in gas-focused plays. Wyoming experienced the steepest weekly drop , losing 5 rigs. Oklahoma’s rig count remains above 2024 levels , despite a weekly dip.
Brent Crude $69.28 -0.35% Natural Gas $3.57 +0.65% Latest Oil Prices SUBSCRIBE SEARCH ARTICLES NEWS Germany's Top Performing Smallcap Surges Again by Bloomberg | Isolde MacDonogh | Friday, July 18, 2025 | 2:00 PM EST A breakneck rally in the shares of a German pipeline builder accelerated this week.
Permian Basin Account Directory – $10 Buy Now Includes: Account name, phone, address, website, wells drilled… Power Load: 4 GW Added in Just 3 Years Between 2021 and 2024 , Texas saw a 4 gigawatt (GW) increase in average power demand— virtually all of it tied to Permian electrification. Breaking Down the 7.5
Rigs : 537 (↓ 2) – lowest since Oct 2021 Oil Rigs : 424 (↓ 1) – lowest since Sept 2021 Gas Rigs : 108 (unchanged) Misc. Here’s a structured summary and analysis of the latest U.S. rig activity based on the Baker Hughes data and broader market context: U.S. Rig Count Trends Total U.S.
For example, in 2020, AISSOT reportedly brokered a deal to transport Iranian oil via Iraqi pipelines to be blended and sold as Iraqi oil. 13224, as amended, on June 10, 2021, for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, the IRGC-QF.
Chime's initial public offering, from a valuation perspective, represents a big step down from where venture investors like Sequoia Capital valued the company in its last fundraising round in 2021, when private tech markets were raging. The valuation at the time was $25 billion.
That's a big step down from where venture investors like Sequoia Capital valued the company in Chime's last fundraising round in 2021, when private tech markets were raging. After raising at a $95 billion valuation in 2021, the company slashed that number by almost half to $50 billion in 2023.
The European Union reduced its combined pipeline gas and LNG imports by 18% between 2021 and 2024, as consumption slumped by 20%, a gas flow tracking tool of the Institute for Energy Economics and Financial Analysis (IEEFA) showed on Wednesday.
After last years first annual decline in coal power plant approvals since 2021, the Chinese pipeline of newly-approved coal-fired electricity generation rebounded in early 2025, Greenpeace East Asia said in new research on Thursday. China approved 11.29
(BOE Report) – Saudi oil giant Aramco is seeking investors in infrastructure, including pipelines, for its $100 billion Jafurah gas project, two people familiar with the matter told Reuters. These groups took 49% stakes in subsidiaries Aramco Oil Pipelines and Aramco Gas Pipelines, in which Aramco retains 51% stakes.
Kyari was the longest-serving CEO of the NNPC, which become a company in 2021 under a new petroleum law passed by the West African nations government. The new board has been asked to conduct a strategic review of NNPC-operated and joint venture assets to ensure alignment with value-maximization objectives, Onanuga said.
Prioritizing the Saving Solutions in Iran’s Natural Gas Consumption Iran’s estimated proved natural gas reserves were 1,203 trillion cubic feet as of December 2021, second only to Russia. Currently, natural gas pipelines have been developed in most of the regions. The high energy intensity and the.
On June 29, 2021, the United States Supreme Court, in a 5-4 vote, held that a natural gas company’s right to condemn property for a pipeline under the Natural Gas Act includes the right to condemn state-owned property. In PennEast Pipeline Co. 1] 19-1039, 2021 WL 2653262 (U.S. 1] 19-1039, 2021 WL 2653262 (U.S.
The Infrastructure Investment and Jobs Act (IIJA), signed into law on November 15, 2021, amended Section 40307 of the Outer Continental Shelfs Act (OCSLA) to provide authority to the U.S. The Council on Environmental Quality (CEQ) issued a “ Report to Congress on Carbon Capture, Utilization, and Sequestration ” in June of 2021.
Total Wells Drilled Since 2021 Cumulative drilling activity. Pipeline Licenses (Canada) Number of pipeline licenses held. Active Rig Count The number of rigs currently operating. Wells Drilled (2023-2025) Historical and projected well drilling data. Facility Licenses (Canada) Number of facility licenses held.
Whilst there can be no guarantee that appropriate opportunities will be forthcoming or lead to funding, Zephyr expects that it will be in a position to present a number of opportunities to the Investor over the initial six months of the Agreement from its current and expected pipeline.
Grand Mesa Pipeline The divestitures fit into a multi-quarter effort by NGL to simplify its business and emphasize more predictable, fee-based midstream revenue. In particular, the company is placing renewed emphasis on the Grand Mesa Pipeline , its flagship crude oil system serving producers in Colorados Denver-Julesburg Basin (DJ Basin).
The project, awarded in 2021 and completed last month, leveraged McDermott’s marine assets, including the North Ocean 102 vessel and the newly upgraded Amazon, to perform complex pipelay operations at depths of nearly 2,800 meters.
rig count continued its downward trend last week, dropping by 3 rigs to 563 the lowest level since November 2021. June 2, 2025 The U.S. Oil rigs led the decline, while natural gas rigs posted a slight gain. Oklahoma and the Marcellus/Utica region saw notable shifts, with mixed results across other key producing states.
During their Q4 2024 earnings call , the company outlined how strategic acquisitions, processing expansions, and pipeline investments will drive growth in their Midstream business and position them to capitalize on rising NGL and crude demand. Phillips 66 is making big moves in the Permian Basin , a critical hub for U.S. energy production.
million bpd ( from 6.57 million bpd in March) Macro Commentary This marks the third consecutive weekly decline in rig activity, driven by oil price pressures and a strategic shift by operators toward shareholder returns over production growth.
Rig Count Drops Again But Production Still Forecast to Rise For the week ending May 16: U.S. bpd in 2024 to 13.4M bpd in 2025 Gas production: Expected to increase to 104.9 bpd in 2024 to 13.4M bpd in 2025 Gas production: Expected to increase to 104.9
The first two meetings were held on June 15, 2021 , and February 2, 2022 , respectively. The Bureau of Ocean Energy Management (BOEM) held its third Gulf of Mexico (GOM) Intergovernmental Renewable Energy Task Force meeting on July 27, 2022 (3 rd Meeting). During her presentation, Ms.
Section 34 of this act requires pipeline and infrastructure data to be reported. Essentially, this is the kit which sits on the seabed, undersea and at surface – be it pipelines, cables, SSIVs, platforms. Since late 2021, the data previously provided in tabular format now has to be submitted in a spatial format.
Section 34 of this act requires pipeline and infrastructure data to be reported. Essentially, this is the kit which sits on the seabed, undersea and at surface – be it pipelines, cables, SSIVs, platforms. Since late 2021, the data previously provided in tabular format now has to be submitted in a spatial format.
Following through with President Biden’s campaign promise to halt oil and gas drilling on federal lands, on January 20, 2021, the Acting Secretary of the U.S.
The substation’s maiden voyage marks a major milestone in the development of Jones Act compliant offshore wind vessels necessary to bring the large amount of federal utility-scale projects in the pipeline to fruition. back in 2021. 1331 et seq.
Dual Drive Technologies has garnered numerous industry accolades over the years, including the Gulf Energy Information Excellence Award for Innovation in Pipeline Engineering Midstream in 2023; the D CEO Magazine Award for Excellence in Innovation and Sustainability in 2022; and the GPA Midstream Environmental Excellence Award in 2021.
LLC sought to enforce a provision in a 1948 mineral lease requiring Unitex WI, LLC and Unitex Oil and Gas, LLC (Unitex) to bury pipelines on the ranch land surface CT Land acquired in 2013. Minerals had been developed from the property over the years, and pipelines existed on the land when CT Land purchased it. Randle, 620 S.W.3d
EOG also launched the 1 Bcf/d Verde Pipeline, linking Dorado gas directly to the major Agua Dulce gas hub, enhancing market access. SM Energy: Strategic Pivot to Chalk SM Energy began full-scale Austin Chalk development in 2021, targeting oil and liquid-rich gas windows across its 155,000-acre South Texas footprint.
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