Industry News

HGPA news feed

The Natural Gas Industry is constantly growing and changing, so from time to time HGPA and GPA have news that we want to share with our members and the Midstream Community.
 
You can check out our News Releases and updated articles from other internet sources regarding the natural gas industry here on our HGPA News Feed. So check back often and stay up to date! 

Latest Articles

02/01/2019
From the Associated Press to the Houston Chronicle to FOX and NBC news affiliates, Hart Energy’s Digital News Group editors bring decades of collective journalism experience to the new HartEnergy.com, which launched Feb. 4. This core group of energy industry journalists will bring you the daily industry news and happenings, exclusive executive interviews and energy sector trends each and every day on a variety of platforms including articles, columns, videos, infographics and photography that you won’t find anywhere else.
02/01/2019
Intercontinental Exchange (NYSE: ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, Jan. 31 announced a daily trading volume record for ICE Permian WTI Crude Oil Futures (HOU) of 1,953 contracts Jan. 30. That compares to a previous record of 1,304 lots reached on Jan. 7. Open interest for the contract rose Jan. 30 to 2,255 contracts, an increase of 625 lots from the day before, and near the recent high of 2,625 on Jan. 18. ICE also recently completed its largest delivery for the January 2019 contract of 660,000 barrels of oil. The first expiry, for the December 2018 contract, resulted in 200,000 barrels delivered.
02/01/2019
Sempra Energy’s Port Arthur LNG export terminal in Texas took a step toward receiving federal approval for construction on Jan. 31 after the U.S. energy regulator issued a final environmental report. The Federal Energy Regulatory Commission (FERC) report, known as an environmental impact statement, concluded the project “would result in some adverse environmental impacts, but these impacts would be reduced to less-than-significant levels.” FERC said in a release its commissioners will consider recommendations by the staff when they decide on the project.
02/01/2019
Anadarko Petroleum Corp said on Feb. 1 a long-term agreement had been signed with the trading division of China's state-owned offshore oil and gas producer CNOOC Ltd to supply LNG from Mozambique. The deal will bring it one step closer to making a final investment decision for its East African LNG project, with the decision expected in the first half of this year. Mozambique LNG1 Company, the jointly-owned sales entity of the Mozambique Area 1 co-venturers, had signed a sales and Purchase Agreement (SPA) with CNOOC's gas and power Singapore Trading and Marketing unit, Anadarko said.
02/01/2019
U.S. crude oil production rose to a new high of 11.9 million barrels per day (MMbbl/d) in November, up 345,000 bbl/d from the previous month, the U.S. Energy Information Administration said in a monthly report on Jan. 31. The increase came as output in Texas rose 115,000 bbl/d and Gulf of Mexico offshore production rose by 188,000 bbl/d, outstripping a slight decline in North Dakota, where production fell by 11,000 bbl/d.
02/01/2019
British energy supplier SSE has agreed to sell nearly half of its stake in the Stronelairg and Dunmaglass wind farms in Scotland to renewables fund Greencoat UK Wind and a U.K. pension fund for 635 million pounds (US$832.17 million). The move is part of SSE’s wider strategy to focus on its core businesses of regulated networks, renewables, flexible thermal generation and business energy sales, the company said. SSE will sell its 49.9% stake in the wind farms but will continue to hold the remaining 50.1% majority stake and continue to operate both assets.
02/01/2019
[Editor’s note: This story was updated at 9:55 a.m. CST Feb. 1.] Chevron Corp. (NYSE: CVX) on Feb. 1 reported quarterly earnings that topped analysts’ estimates on higher prices and production, sending shares higher in morning trading. Results for the San Ramon, Calif.-based company reflected a 12.5% increase in oil and gas production as net output rose to 3.08 million barrels per day (bbl/d). Prices paid for its crude were $59 a barrel in the quarter, up from $57 a year earlier, the company said. It was “a good beat overall,” said Muhammed Ghulam, an analyst at Raymond James. “Permian production growth remained strong, up 12% compared to the prior quarter and 84% year-over-year,” he said.
02/01/2019
[Editor’s note: This story was updated at 10:05 a.m. CST Feb. 1.] Exxon Mobil Corp. (NYSE: XOM) on Feb. 1 reported a quarterly profit that topped analysts’ estimates, pushing it shares up nearly 3% in premarket trading as its oil and natural gas output rose slightly on a year-over-year basis. The company's fourth-quarter net income fell to $6 billion, or $1.41 a share, from $8.38 billion a year ago. But earnings excluding the impacts of tax reform and impairments rose to $6.4 billion from $3.73 billion a year ago. Analysts had forecast a $1.08 a share profit excluding one-time items, according to data from Refinitiv. Exxon Mobil’s oil-equivalent production rose to just over 4 million barrels per day (bbl/d), up from 3.9 million bbl/d in the same period the year prior. The company said its output in the Permian Basin, the largest U.S. shale basin, rose 90% over a year ago
01/31/2019
Magellan Midstream Partners LP (NYSE: MMP) has canceled plans to develop a stand-alone crude pipeline West Texas, the area of the nation’s top oil field as it considers a lower-cost project for the same region, an executive said on Jan. 31.
01/31/2019
Pennsylvania Gov. Tom Wolf on Jan. 31 proposed a tax on extracting natural gas to pay for his plan to spend $4.5 billion over the next four years to improve the state's infrastructure. The state legislature, however, has refused to approve the tax over the past couple of years. Wolf said Pennsylvania is the only state in the country without a severance tax on extracting natural gas. Pennsylvania is the second biggest gas-producing state behind Texas. The state produces about 18 billion cubic feet per day (Bcf/d) from the Marcellus and Utica shale basins, which is a little over 20% of the nation's total gas production.

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