Woodside Energy plans FID of Driftwood LNG in Q1 2025

Woodside Energy expects to make a final investment decision (FID) on its 27.6 MMtpa (3.7 Bcf/d) Driftwood LNG project near Lake Charles, Louisiana (see map below), in Q1 2025 after its acquisition of current Driftwood owner Tellurian closes in Q4 this year as expected.

Producer Peak Resources to Fittingly Claim the NYSE Symbol ‘PRB’

Durango-CO based Peak Resources, an exploration and production (E&P) company in the Powder River Basin (pink-shaded area in map below), plans to go public on the New York Stock Exchange under the fitting ticker symbol “PRB.” On Monday, the company filed with the SEC to raise up to $86 million

Barnett Shale’s Largest Producer, BKV, Moves Forward with Long-Awaited IPO

Denver-based BKV Corp., a natural gas-focused exploration and production (E&P) company, has announced plans to go public. BKV, backed by Thailand-based energy conglomerate Banpu Plc., dominates the Barnett Shale and holds a smaller position in the Marcellus.

U.S. Gulf Coast Crude Oil Exports Drop to Lowest Level in Over a Year, Partly Driven by Hurricane Francine

U.S. crude oil loadings from the Gulf Coast dipped by 153 Mb/d week-on-week to 2.8 MMb/d, marking the lowest level since mid- 2023. This drop was partly due to disruptions caused by Hurricane Francine, which made landfall on September 11.

Oil Flows on CHOPS System Resume After Francine

Crude oil flows on Genesis Energy’s Cameron Highway Oil Pipeline System (CHOPS) in the Gulf of Mexico (GOM) resumed Monday after power was restored to many third-party assets downstream that were impacted by Hurricane Francine last week.

EIA Says GOM Production in 2024-2025 to be Flat with 2023

The Energy Information Administration (EIA)’s latest Short-Term Energy Outlook (STEO) says Gulf of Mexico oil and natural gas production will remain flat through 2025 as new output offsets natural declines from existing fields.

Permian-to-Corpus Crude Oil Flows Rise 5% in April

Crude oil flows from the Permian Basin to the Corpus Christi area increased by 5% in April 2024, reaching 2.35 MMb/d (see turquoise line in the graph below), according to data from the Texas Railroad Commission.

Slowing Chinese Economy Severely Hurting World Oil Demand Growth: IEA

Global oil demand growth is taking a sharp hit from a broad-based slowdown in the Chinese economy, the International Energy Agency (IEA) said.

US Rig Count Posts Largest Gain In 12 Months, Climbs to 590

US oil and gas rig count posted its largest increase in a year for the week ending September 13, increasing by eight rigs vs. a week ago and climbing to 590, according to Baker Hughes. This marks the largest week on week increase since September 15, 2023 when nine rigs were added.

Canadian Drilling – Oil and Gas Rig Counts Little Changed

For the week ending September 13, Baker Hughes reported that the Western Canadian gas-directed drilling rig count was unchanged at 67 (blue line in left hand chart below) and four less than one year ago.

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