EOG Resources cuts $2 billion or 31% from capex budget

      Texas-based EOG Resources is cutting its 2020 capital spending by $2 billion or 31%, in the wake of the spreading coronavirus and the crude oil price war between Saudi Arabia and Russia that is impacting U.S. shale producers. EOG said it intends to reduce activity across all of its operating areas and … Read more

Enbridge to proceed with $500M Line 5 Pipeline tunnel

Enbridge announced Friday that it intends to build a $500 million pipeline tunnel under the Straits of Mackinac after a long and continuing legal fight with the state of Michigan, Kallanish Energy reports. The Canadian pipeline company said it has hired two contractors to proceed with the disputed Line 5 tunnel project. The tunnel will be … Read more

Kinder Morgan sells Pembina Pipeline interest for $764M

Pipeline operator Kinder Morgan announced last week it’s sold all of its 25 million shares of Canada’s Pembina Pipeline Corp. for $764 million after taxes, Kallanish Energy reports. The money will be used in its 2020 budget to reduce debt, said the Houston-based company. Kinder Morgan acquired the shares when Pembina bought Kinder Morgan Canada last … Read more

Energy Transfer wants to nearly double DAPL capacity

Texas-based Energy Transfer, an owner and operator of the Dakota Access Pipeline, wants to increase the pipeline’s capacity by more than 96%, to 1.1 million barrels per day of crude, from the Bakken in North Dakota, through South Dakota and Iowa into Illinois. To increase flow, the company wants to build a series of new … Read more

BLM ends five-year drilling moratorium in central California

      The U.S. Bureau of Land Management has approved a plan to open up 1.2 million acres in central California to hydraulic fracturing (fracking), Kallanish Energy reports. The agency last week released the record of decision that ends a five-year moratorium on drilling on public lands or seeking federal minerals in eight counties … Read more

Putin says shale oil technologies are ‘barbaric’

      Russian President Vladimir Putin has criticized countries like the U.S. for ignoring the environmental impact of shale oil and natural gas production, describing it as a “barbaric” process the Kremlin won’t pursue, CNBC reports. Speaking at a business conference in Moscow Wednesday, Putin said: “Today’s technology of shale oil production and shale gas are … Read more

BLM withdraws acreage from Nevada O&G lease sale

      The U.S. Bureau of Land Management has pulled 332,247 acres from the Nov. 12 oil and natural gas lease sale in Nevada due to a court order blocking Trump administration plans to gut protections for the greater sage-grouse, Kallanish Energy reports. The federal agency had planned to offer 263 parcels totaling 547,969 acres … Read more

ConEd capping investment in Mountain Valley line

      New York-based utility giant Consolidated Edison (ConEd) is capping its investment in the troubled Mountain Valley natural gas pipeline. ConEd revealed in a U.S. Securities and Exchange Commission filing Monday (reviewed by Kallanish Energy) its CET Gas unit will cap its investment in MVP at $530 million. ConEd already has spent $488 … Read more

Catch The Buzz

Welcome to this week’s edition of The Buzz, a weekly feature where Kallanish Energy editors select the quartet of stories this past week we feel were the most important – and have the chance to make the biggest impact on the oil and gas — and energy industry as a whole. US natgas price will plunge to 1970s … Read more

Montage Resources reduces drilling, cuts 2019 Capex

      Montage Resources is the latest E&P company reducing full-year 2019 capital spending (Capex), Kallanish Energy reports. The company said it has reduced second half 2019 activity levels from two rigs to one rig, resulting in lowered capital spending of $30 million in the Appalachian Basin. The reason for the reduction is low commodity … Read more

STAY CONNECTED

Suspendisse eget lacus ac lorem vulputate fringilla. Maecenas consectetur est leo, nec scelerisque nulla dignissim quis. Maecenas ut nunc ac mi rhoncus mollis. Mauris sagittis rutrum mi a cursus.

Contact

Britannia House
11 Glenthorne Rd
Hammersmith, UK, W6 0LH

Call Us: +44 (0) 208 735 6520

[email protected]

© 2018 Kallanish. All rights reserved.