West Virginia senators push for Appalachia natural gas storage hub

West Virginia's U.S. Sens. Joe Manchin and Shelley Moore Capito are urging federal officials to consider building a major natural gas storage and distribution hub in the Appalachian region, reports The Associated Press. The news service says the senators state in a letter to National Economic Council Director Gary Cohn that the White House should examine “the numerous benefits" of putting a natural gas liquids-storage and distribution hub in Appalachia, which has “growing but still underutilized” reserves of natural gas. For more, read the full story.

National, West Virginia

Natural gas making a comeback in Haynesville shale play

Natural gas production in the Haynesville shale play in East Texas and Louisiana is expected to climb for the seventh straight month in June, and reach its highest level since October 2014, Bloomberg reports. The news service says natural gas output in the play had fallen to a six-year low because of tumbling prices and competition from “gushier, more profitable wells” in Pennsylvania and West Virginia. Bloomberg says Haynesville natural gas has become more valuable due to pipeline bottlenecks in the eastern United States, the play’s “vast [pipeline] network linking the Haynesville to the rest of the country” and proximity to a new liquefied natural gas export terminal in Louisiana. For more, read the full story.

National, Pennsylvania, West Virginia

Big production gains by independent drillers hamper efforts to reduce oil glut

The biggest oil exploration companies in the world “are being left in the dust” by production gains registered by “nimbler shale oil specialists that are confounding OPEC’s glut-killing efforts,” Bloomberg reports. None of the "super-major" oil companies increased output by more than 3.6% in the first quarter of 2017, according to the news service, while smaller companies such as Diamondback Energy, Concho and RSP Permian reported increases of 30% or more. Bloomberg says the rising output of such independent, shale-focused drillers are hampering efforts to reduce an oil glut that has kept prices at $50 a barrel or less. For more, read the full story.

Global, National

New deal with China expected to boost U.S. LNG exports

A new agreement between China and the United States links the world’s largest liquefied natural gas (LNG) growth market to the fastest-growing LNG exporter and may encourage a new round of expansion along the Gulf Coast, reports FuelFix.com. The news site says the U.S. Commerce Department recently announced a 100-day action plan that allows Chinese companies to negotiate long-term contracts to source LNG from U.S. suppliers. Energy research firm Wood Mackenzie said the deal has the potential to alter global LNG trade. For more, read the full story.

Global, National

Trump nominates two to fill FERC vacancies

President Donald Trump has announced the appointment of Neil Chatterjee and Rob Powelson to fill two of the three vacancies on the Federal Energy Regulatory Commission (FERC), Politico reports. The news site says Chatterjee, a senior energy adviser to Senate Majority Leader Mitch McConnell, and Powelson, a Pennsylvania utility regulator, would fill commissioner positions that expire in 2021 and 2020, respectively. For more, read the full story.

National

Oil and gas pipeline companies fight Trump’s ‘Buy American’ plan

A directive requiring U.S. pipeline companies to use American steel and iron in their projects “is testing President Donald Trump’s ability to keep his promises to two industries on opposing sides of the issue,” Bloomberg reports. In recent comments to the U.S. Department of Commerce, which is crafting the president’s "Buy American" plan, oil and natural gas pipeline companies and trade groups contended the requirement would increase costs and disrupt operations. But steel companies have “embraced the policy as an opportunity to take advantage of the country’s surging oil and gas production,” according to Bloomberg. For more, read the full story.

National

Baker Hughes offers new device for oil and gas drilling

Oilfield services company Baker Hughes has built a new hydraulic fracturing device for deep-water drilling, saying it could save oil and natural gas operators hundreds of millions of dollars, reports FuelFix.com. The news site says that to create “DEEPFRAC,” Baker Hughes adapted hydraulic fracturing technologies and techniques from the U.S. onshore shale drilling. The company said DEEPFRAC will allow companies to frack 20 stages — up from just five in some cases — and cut well completion steps from weeks to days. For more, read the full story.

National

$100 billion investment boost drives big jump in U.S. shale drilling

Norwegian consulting firm Rystad Energy estimates $100 billion in investment funding has flowed into the U.S. shale industry over the past year, boosting domestic drilling by 60%, reports FuelFix.com. Rystad also says oil and natural gas well completion activity has gone up 30%, and shale investments could climb another 50%  in 2017. For more, read the full story.

National

Trump’s new order would expand oil drilling in Arctic, Atlantic oceans

President Donald Trump has signed an executive order aimed at expanding oil drilling in the Arctic and Atlantic oceans, according to the Associated Press (AP). The news service says the order reverses some of former President Barack Obama’s restrictions on oil and natural gas development and instructs Interior Secretary Ryan Zinke to review a plan that designates federal locations open to offshore drilling. AP says the order is “part of Mr. Trump’s promise to unleash the nation’s energy reserves in an effort to reduce oil imports and spur jobs.” For more, read the full story.

National

White House bullish about potential LNG projects

Bloomberg reports the Trump administration has a “new darling” in the energy sector -- liquefied natural gas (LNG) – at a time when two dozen applications to build LNG export terminals are under review. The news service points to comments by President Donald Trump’s top economic adviser, Gary Cohn, who recently voiced support for a terminal in the Pacific Northwest that would ship LNG to Asia. Bloomberg also notes that Energy Secretary Rick Perry has praised an LNG export terminal proposed in Texas by Exxon Mobil Corp., with Perry saying it would create 45,000 jobs during construction and “position the U.S. as the dominant exporter of LNG to the world.” For more, read the full story.

National
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