Author Archive: Jordan Gleason

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Oil prices rallying again on short-term drains on supply

Short-term market metrics lingering from a U.S. hurricane gave support to crude oil prices Wednesday, even though balance seemed slow to emerge. The American Petroleum Institute reported late Tuesday that crude oil inventories in the United States moved lower last week by 7.1 million barrels. The API report was far more bullish than the 3.9 […]

Exxon Mobil Expands With Permian Basin Terminal Acquisition

It seems like Exxon Mobil Corp. (NYSE: XOM) is located in just about every major oil and gas effort around the planet. After all, it is the largest American oil and gas company by far. Now Exxon is acquiring a crude oil terminal that will serve the growing Delaware Basin located within the Permian Basin. […]

Oil company proposes Arctic drilling from artificial island

America within a few years could be extracting oil from federal waters in the Arctic Ocean, but it won’t be from a remote drilling platform. Federal regulators are taking comments on a draft environmental statement for the Liberty Project, a proposal by a subsidiary of Houston-based Hilcorp to create an artificial gravel island that would […]

U.S. Crude Oil Production Expected to Increase Through End of 2017, Setting Up Record 2018

EIA forecasts that U.S crude oil production will average 9.4 million barrels per day (b/d) in the second half of 2017, 340,000 b/d more than in the first half of 2017. Production in 2018 is expected to average 9.9 million b/d, surpassing the previous high of 9.6 million b/d set in 1970, based on projections […]

The Rundown: Truck stop tiger hotly debated in Legislature has been euthanized; outlook for state Demos is dim; and more in Louisiana politics today

Today in The Rundown: An unexpected death in Grosse Tete may end years of sparring or set off a new fight; the state Democratic Party trying to find its place in Louisiana’s current political climate; LSU loosens post-death restrictions on Greek life; and everything else you need to know in Louisiana politics today. Countdown… Days until […]

Houston firm invests in Scott tech company

Houston firm invests in Scott tech company

Houston-based equity fund Pelican Energy Partners has made “a significant investment” in Gordon Technologies LLC, an oil and gas industry service company based in Scott. Pelican did not disclose the amount it invested. Gordon Technologies offers “measurement-while-drilling” technology. The technology provides drillers with precise, real-time data about wellbore position, drill bit information and directional data. […]

U.S. Import And Export Prices Increase More Than Expected In September

U.S. import and export prices both increased by more than anticipated in the month of September, according to a report released by the Labor Department on Tuesday. The report said import prices climbed by 0.7 percent in September after rising by 0.6 percent in August. Economists had expected import prices to increase by 0.5 percent. […]

Alford: Saturday’s primary election was low on turnout, high on lessons

An astounding 86.5% of Louisiana’s registered voters didn’t participate in last weekend’s statewide elections, Jeremy Alford notes in his latest column. “The math is a little depressing, but it’s worth a spin on the abacus,” he says. “It basically means that 400,000 voters collectively called the shots for Louisiana’s entire electorate, which numbers around 2.9 […]

Don’t Look Now, But The Haynesville Shale Is Coming Back To Life

Don’t Look Now, But The Haynesville Shale Is Coming Back To Life

One of the early centers of American shale drilling is roaring back to life, boosted by a building boom of petrochemical plants, fertilizer factories and gas-export terminals along the Gulf Coast. The Haynesville Shale, a giant natural-gas field in northwest Louisiana, was one of fracking’s hottest spots a decade ago. But it fizzled out about five […]

Risk premium may be waning for oil prices

Disruptions to U.S. oil production from Hurricane Nate may support a risk-fueled rally in oil prices Tuesday, but concerns about global outages may be fading. Crude oil prices soared during the Monday session as tensions boiled over in the northern provinces of Iraq. Iraqi and Kurdish forces are sparring over control of the so-called disputed […]