EIA: CO2 emissions from energy operations to decline through 2021 | Weak prices prompt producers to dial back drilling | 2nd train at Freeport LNG placed into service
January 21, 2020
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EIA: CO2 emissions from energy operations to decline through 2021
Carbon dioxide emissions from US energy operations, including petroleum, natural gas and coal, dropped 2.1% in 2019 and are expected to fall by 2% and 1.5%, respectively, this year and next, according to the Energy Information Administration. The drop can be attributed to a decline in coal-fired generation in favor of gas-fired generation and increased renewable generation.
U.S. Energy Information Administration (1/17) 
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Industry News
Weak prices prompt producers to dial back drilling
Lower prices are contributing to a slowdown in oil and natural gas drilling that is expected to worsen this year, writes analyst John Kemp. However, some pressure could be taken off oil prices this year, potentially boosting revenues and profits for US shale firms if drilling remains subdued, Kemp writes.
Reuters (1/17) 
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2nd train at Freeport LNG placed into service
The second liquefaction train at the Freeport LNG export project on Quintana Island in Freeport, Texas, has entered commercial service with the commencement of BP's tolling agreement. The facility's third liquefaction train is expected to begin commercial operations in May.
Oil & Gas Journal (free content) (1/17) 
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Moving the Needle on Digital Transformation
Move beyond the concept of digital transformation to implementing something practical and tangible that moves the organization forward. Explore how industry leaders are "moving the needle". Download the e-Book.
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Exploration & Production
Parsley Energy bets big on the Permian
Parsley Energy filed 12 applications for drilling permits with the Railroad Commission of Texas from Jan. 8 through Jan. 14, with plans to target the Permian Basin's Wolfcamp and Spraberry formations to depths of up to 15,000 feet. The company recently finalized its $2.3 billion acquisition of Jagged Peak Energy, boosting its Permian foothold to 266,000 acres.
Houston Chronicle (tiered subscription model) (1/20) 
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US drilling activity picks up
Oil and natural gas drillers deployed 15 rigs to US oilfields last week, bringing the total combined rig count to 796, according to Baker Hughes. Rigs were added in Texas, Utah, Alaska, New Mexico, North Dakota, Oklahoma and Wyoming.
Rigzone (1/17) 
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ENERGY TOMORROW BLOG
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Policy Watch
Final WOTUS replacement likely coming this month
The Trump administration has been working on its final replacement for the Waters of the US rule and is expected to release it sometime this month. The proposal is expected to roll back protections for more than 50% of the nation's wetlands and many streams.
E&E News (free content) (1/15) 
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Special from the Shale SmartBrief
Mark Papa expects consolidation among smaller shale players
Slowing US oil production growth over the next five years will likely encourage oil giants to swallow smaller shale firms, says Schlumberger non-executive chairman and shale pioneer Mark Papa. Papa sees US shale output rising by just 400,000 barrels per day this year and by 100,000 to 500,000 bpd through 2025, in part due to high shale well decline rates and the shorter life of shale basins.
Reuters (1/14) 
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API Update
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Significant Standard | API Recommended Practice 75, 4th Edition
Recommended Practice for a Safety and Environmental Management System for Offshore Operations and Assets provides updated guidance for establishing, implementing, maintaining and continually improving a safety management system for offshore oil and gas operations. Purchase the standard here.
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