Author Archive: Jordan Gleason

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Q1 Reporting Shows Unsurprising Quarterly Decline, But Yearly Increase

The picture from the Q1 reporting season is emerging. While the growth rate for revenues quarter over quarter has dipped into the red, the year over year comparison shows continued growth in the oilfield service industry. In Q1 2018, the blended quarterly growth in revenue for service companies exposed to upstream oil and gas activities […]

Louisiana utility regulators approve wind farm project

State utility regulators Wednesday allowed a northwest Louisiana electric company to purchase part of the nation’s largest wind-power project. The $4.5 billion “Wind Catcher” project in the Oklahoma panhandle began construction last December and is expected to start generating electricity in 2020. The Louisiana Public Service Commission allowed the Shreveport-based Southwestern Electric Power Co., better known […]

Brazil opens door to oil production advances

New policies enacted by Brazilian energy regulators facilitate construction of the production infrastructure needed to crack into offshore oil, a report found. A compromise solution from the National Agency of Petroleum reduced fines for non-compliance and made it easier for companies to meet exploration and production contract requirements. Consultant group Wood Mackenzie said that means […]

Oil falls as OPEC nears deal to raise production

Oil prices fell on Thursday as crude exporters in OPEC appeared to be nearing a deal to increase production. Benchmark Brent crude LCOc1 dropped $1.76 a barrel, or 2.3 percent, to a low of $72.98 before recovering a little to $73.54, down $1.20, by 1215 GMT. U.S. light crude CLc1 was $1.00 lower at $64.71. […]

Colorado sees bottlenecks crimping oil production

Pipeline limitations near the U.S. inland storage hub in Cushing, Okla., create headwinds for growth in Colorado oil production, a state report found. Colorado crude oil production more than tripled since 2010 and now accounts for about 4 percent of the total U.S. crude oil production. Anadarko Petroleum, one of the larger operators in the […]

Exxon Mobil, Hess make another offshore Guyana discovery

Exxon Mobil and Hess Corp. said Wednesday they’ve made their eighth oil discovery in the developing offshore fields of Guyana in northeastern South America. The find at the new Longtail-1 exploration well represents the continuation of emerging oil development off the coast of the Latin American country, which is immediately east of Venezuela, where political […]

EU opens investigation into Qatar’s long-term LNG contracts

The European Commission on Thursday said it had opened an investigation into the free flow of LNG sold by Qatar Petroleum in Europe. The investigation will focus on whether agreements on the sale of liquefied natural gas (LNG) to European companies have restricted the free flow of gas in the European Economic Area. The Commission […]

The Rundown: Tax measures head to House (again) and more Louisiana politics news

The Rundown: Tax measures head to House (again) and more Louisiana politics news

Today in The Rundown: The House has three tax measures to consider as it attempts again to address the fiscal cliff; Louisiana loses its incarceration crown; College students rally at the Capitol; and everything else you need to know in Louisiana politics today. Be sure to sign up to get The Rundown in your inbox by […]

OPEC works toward deal as Saudis propose plan for higher output

The odds of OPEC reaching an oil-production deal increased as Iran edged away from a threat to veto any agreement that would raise output and Saudi Arabia put forward a plan that would add about 600,000 barrels a day to the global market. At the end of a day of diplomatic back-and-forth in Vienna on […]

Unfracked oil wells growing as Permian pipeline scarcity worsens

Pipeline bottlenecks in North America’s biggest oil field are so pervasive that drillers are quitting new wells at a record pace. And it’s about to get a lot worse. The vast pipe networks that haul crude from the Permian Basin are almost completely full thanks to a production boom in the oil-rich area of West […]