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.
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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.
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.
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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.
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.
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.
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.
API Training Course | RP 1173, Pipeline Safety Management Systems
Pipeline operator leadership, management and executives will receive an overview and practical application of API RP 1173. At the conclusion of the course, learners should have a baseline understanding of the importance of RP 1173 and knowledge of the industry Maturity Model and tools that support the implementation of pipeline safety management systems. To register and to learn about other eLearning courses and webinars on topics related to significant API standards, API programs and industry safety, visit https://www.apilearning.org.
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