New Oil and Gas Jobs From BOE Report Jobs

Here are the latest oil and gas job postings courtesy BOE Report Jobs. To search and filter all the latest jobs, visit the BOE Report job board. All job listings are free to post for companies. Sign up to create an account to post jobs; it’s simple and easy to use. Posting Date Job Title [Read more]

Source: BOE Report

VAALCO Energy, Inc. Appoints New Chief Accounting Officer and Controller

HOUSTON, June 11, 2019 (GLOBE NEWSWIRE) — VAALCO Energy, Inc. (NYSE: EGY) today announced the appointment of Jason Doornik as VAALCO’s Chief Accounting Officer and Controller effective June 6, 2019. Elizabeth Prochnow, the Company’s Chief Financial Officer, will relinquish her prior role as the Chief Accounting Officer and Controller.  Mr. Doornik has over 20 years [Read more]

Source: BOE Report

New Mexico Oil & Gas Chief: We’re Ready to Work Together to Reduce Methane Emissions

Lowering methane emissions is a top priority for New Mexico’s oil and natural gas industry, and its already seeing significant results for these efforts. Ryan Flynn, the executive director of the New Mexico Oil & Gas Association recently wrote an op-ed for the Albuquerque Journal explaining how the state’s oil and natural gas producers can work with governments to protect the environment and build a strong economy:

“As our state and Gov. (Michelle) Lujan Grisham’s administration begin a process to assess how to manage methane emissions, New Mexico’s oil and natural gas industry is a willing partner.

“While all who work in the oil and gas industry take pride in what we contribute to New Mexico’s economy and public schools, there is nothing we value more than safeguarding the people and places we care about the most. That means working continuously to protect the environment and reduce and control methane emissions. It’s a responsibility we take personally.”

Technology is the Key to Reducing Emissions

As Flynn also explains, innovation and technology are the key to reducing emissions in New Mexico and elsewhere:

“As an example of these innovative technologies, infrared cameras that show gases not seen by the naked eye and internet-enabled devices monitor production equipment and facilities for leaks or other anomalies. These devices can notify operators in real time, which allows for potential issues to be addressed more quickly.”

In addition to the technologies Flynn highlighted, companies have also begun to reuse the associated natural gas that is produced during Permian oil production. Currently, there is limited pipeline takeaway capacity in the Permian for this supply of gas, so in an effort to reduce flaring, producers are injecting the excess gas into less productive, older wells to stimulate greater oil output from them. As Bloomberg reports:

“The methodology’s been used in conventional wells elsewhere with both natural gas and carbon dioxide for years, but it’s just now emerging in America’s fracked shale fields. The win-win goal: The trapped gas is put to work, and there’s a 30 percent-to-70 percent gain in oil output from older wells. As the shale boom ages, the potential could be extensive.”

It’s all part of a massive effort by U.S. oil and gas companies to use technology to reduce emissions. According to a study commission by the American Petroleum Institute, the sector invested $108.2 billion in technologies aimed at reducing greenhouse gas emissions from a variety of sources.

Methane Emissions Reduction Efforts Are Working

A recent Energy In Depth analysis found that U.S. methane emissions fell by 24 percent from 2011 to 2017 even while the country’s oil and natural gas production rose by 65 and 19 percent respectively.

In the Permian Basin – located in New Mexico and Texas – the advancements have been particularly significant. In one of the top producing regions in the country, annual methane emissions from fell from 4.8 million metric tons (MMT) to 4.6 MMT from 2011 to 2017. Simultaneously, combined oil and natural gas annual production jumped from 638.9 million barrels of oil equivalent (Boe) to 1.4 billion Boe. The result was a 57 percent reduction in methane emissions per unit of oil and natural gas produced.

In another key data point, researchers at NOAA and the University of Colorado found that methane emissions are much smaller than previous studies have estimated. In some cases, the emissions from oil and natural gas have been overestimated by as much as 10 times.

Progress Through Partnership, Not Conflict

Flynn’s column exemplifies the way forward for the energy industry and the environment through partnership and collaboration:

“We stand ready to work in partnership. By working together – industry and government – we can create a path forward that ensures the viability of New Mexico’s most important industry while protecting the environment for our future generations.”

The benefits of this partnership are clear. In states like New Mexico, oil and natural gas provide a crucial funding stream for education, providing nearly a third of the revenue taken in by the state.

And natural gas has proven to be an important complimentary power source for renewables when wind and solar aren’t able to meet electricity demands.

New Mexico is a great example of how partnership will benefit both the economy and the environment.

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Source: Energy In Depth

Have Canadian Oil Prices Hit The Sweet Spot?

When Alberta’s previous government, led by Rachel Notley, instituted obligatory oil production cuts to arrest a serious discount in prices to WTI, some in the industry weren’t happy. Others, however, welcomed the move that aimed to alleviate the glut that had caused the vast discount, itself the result of insufficient pipeline capacity. Now, the cuts are paying off enough to make oil-by-rail lucrative again. Bloomberg’s Robert Tuttle wrote this week that the excess supply of oil in Alberta had shrunk, according to data from Genscape,…

Source: Oilprice.com

Dominican Republic to Hold First Licensing Round (Tuesday, 11 June 2019)

The Ministry of Energy and Mines of the Dominican Republic, in partnership with Wood Mackenzie, has announced its first licensing round to open at an event in Houston on July 10, 2019, closing in December 2019. The Ministry is offering 14 blocks, a combination of onshore and offshore.

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The Dominican Republic forms part of the Island of Hispaniola, and lies within the North Caribbean strike-slip plate boundary zone. During World War II, oil production was achieved in Maleno and Higuerito fields. Seismic data for the Enriquillo, San Juan and Cibao basins is held by the Ministry, and recent surface and seismic stratigraphic mapping has clarified the geological story of the area. The existing seismic data identifies undrilled prospects in the Enriquillo basin. All information is public and available at www.bndh.gob.do/en/.

Blocks on offer:

  • Cibao basin – six onshore blocks
  • Enriquillo basin – three onshore blocks
  • Azua basin – one onshore block
  • San Pedro basin – four offshore blocks

Source: www.worldoil.com

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Source: The latest Oil and Gas Industry News - from oilandgaspeople.com

Tortoise Energy Infrastructure Corp. and Tortoise Midstream Energy Fund, Inc. Modify Non-Fundamental Policies

LEAWOOD, Kan.–(BUSINESS WIRE)–Tortoise Energy Infrastructure Corp. (NYSE: TYG) and Tortoise Midstream Energy Fund, Inc. (NYSE: NTG) today announced that their Board of Directors approved modifications to certain non-fundamental investment policies of each fund, which will become effective immediately. Consistent with the non-fundamental investment policies in other Tortoise midstream funds, NTG has added a non-fundamental investment [Read more]

Source: BOE Report

Perpetual Energy Inc. Successfully Completes Senior Note Refinancing

CALGARY, June 11, 2019 /CNW/ – (TSX:PMT) – Perpetual Energy Inc. (“Perpetual” or the “Company“) is pleased to announce that it has successfully completed the previously announced early redemption of all of the $14.6 million aggregate principal amount of 8.75% senior notes maturing July 23, 2019 (the “2019 Senior Notes“) effective June 11, 2019 (the “Senior [Read more]

Source: BOE Report

How The Sahara Desert Can Power The Entire World

The vast Sahara Desert in Africa is inhospitable to plants and animals, but quite suitable for movie sets such as Luke Skywalker’s desert home planet of Tatooine in Star Wars. But it could be home to so much more. It’s so sunny and hot in the Sahara all year round that scientists have started to suggest that a small part of the large desert could turn into one giant solar power project capable of powering Europe and even the world. Theoretically, the Sahara desert has huge potential to be the world’s biggest renewable energy source.…

Source: Oilprice.com

Oil Falls After API Reports Surprise Crude Build

The American Petroleum Institute (API) reported another large, surprise build in crude oil inventories of 4.852 million barrels for the week ending June 6, coming in over analyst expectations of a 481,000-barrel drawdown in inventories. Cushing inventories also saw a sizable gain, and gasoline inventories grew as well. Last week, the API reported a surprise build of 3.545 million barrels. A day later, the EIA estimated that US inventories had built by even more, by 6.8 million barrels. The net build now a hefty 35.05 million barrels for the 24-week…

Source: Oilprice.com

Trafigura Sees 92% Increase In Profit On Booming Oil & Gas Trading Business

Trafigura’s six-month profit rose to 92 percent as its oil and gas trading desks offset weakness in other divisions, according to Reuters. The hefty increase in profits for the six-month period ending March 31 were the direct result of the major volatility this year in oil prices, as well as its heavy presence in US oil exports, which have seen a marked increase. Trafigura profits, as high as they were, would have been even higher were it not for some of its other segments that did more poorly, such as metals and subsidiaries Puma Energy…

Source: Oilprice.com

Southern Europe Faces LNG Curse

My previous article addressed the merger between PEG-Nord and PEG-TRS, and the potential implications for gas security within Southern Europe. This article revisits the topic of gas security in Southern Europe, considering how the recent change in LNG market dynamics may indirectly impact gas markets in Iberia. European policymakers have a long-standing objective of developing a single internal market for gas, having undertaken considerable infrastructure investments to develop cross-border trade in recent years. Although many European gas markets…

Source: Oilprice.com

IHS Markit: China Is Iran’s Last Hope To Continue Exporting Oil

Iran’s oil exports will greatly depend on how China will proceed with its crude oil imports from the Islamic Republic, if at all, after the U.S. removed all sanction waivers for Iranian oil customers, IHS Markit said in an analysis on Tuesday. Despite the U.S. push to drive Iranian oil exports to zero, China is not expected to totally cut off its crude imports from Iran, according to Fotios Katsoulas, Liquid Bulk Principal Analyst, Maritime & Trade at IHS Markit. Still, Chinese oil imports from Iran will likely be very low for a long…

Source: Oilprice.com

Gazprom, Shell Meet to Review Progress of Nord Stream 2, Sakhalin II Projects (Tuesday, 11 June 2019)

A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Ben van Beurden, CEO of Royal Dutch Shell, took place today at the St. Petersburg International Economic Forum 2019.

The parties reviewed issues related to bilateral cooperation, paying special attention to the implementation of the Nord Stream 2 project. To date, more than 1,402 km of pipes – over 57% of the gas pipeline's total length – have been laid in the Baltic Sea.

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During the meeting, the parties also discussed the construction project for the third production train of the LNG plant (Sakhalin II).

Source: www.worldoil.com

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Saudi Arabia Vows To Prevent Oil Crash

Investor Deadline: The deadline for signing up to Global Energy Alert at a discount is looming. This is the service that EVERY energy investor and expert needs - a fact that we are so confident of that we are offering a month-long free trial. Sign up today with ZERO RISK and make your own mind up. We guarantee you won't find a better value energy service out there. (Click to enlarge) (Click to enlarge) (Click to enlarge)- In 2018, U.S. coal production fell to 756 million short tonnes, the second-lowest total since 1978 and down from a peak of 1,172…

Source: Oilprice.com