Exxon Mobil gathers tax incentives in Texas’ battle with La. for plant site

The school board in a south Texas community competing with two Louisiana sites has approved an estimated $1.2 billion in tax breaks to entice Exxon Mobil Corp. and its Saudi partner to build a $9.3 billion petrochemical plant within its district along the Texas Gulf Coast.

Earlier this year, Exxon Mobil officials said Ascension and St. James parishes are in the running for the petrochemical complex, though company officials have said the Portland, Texas, site is the front-runner and another Texas site is also under consideration.

Louisiana Economic Development Secretary Don Pierson said his agency “continues to do everything within our power to attract the highest-quality investments and best jobs for our state. For projects that remain in confidential negotiations, we respectfully reserve comment until a later date when proprietary prospect information and incentive details have been finally determined and can be made public upon announcement at the appropriate time”…

 

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It’s Time to Flip the Conversation

With all the talk about optimism in the American oil and gas industry, it is puzzling to some to read a headline stating that a community heavy in oil and gas is experiencing job loss.

However, that is exactly what the article titled “Area loses another 1,800 jobs in January” said, appearing in this paper on March 13.

The United States is experiencing a significant increase in drilling activity, yet Louisiana is seeing historically low rig counts…

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Gulf oil lease sales reflect better market

Wednesday’s oil and gas lease sale in the Gulf of Mexico showed a substantial increase in activity over last year, the U.S. Department of Interior reported.

Gifford Briggs, vice president of Louisiana Oil & Gas Association, said optimism has “come into play” in the Gulf, both for the Trump administration and promises to roll back some regulations and for the better oil prices the industry enjoys this year.

Crude oil was selling for just short of $40 a barrel on March 23, 2016, the date of the last Central area Gulf of Mexico sale. On Wednesday, crude oil was selling at $48.14, after a long run of prices over $50.

“There’s optimism about the Gulf of Mexico,” Briggs said. “People generally feel better right now in the industry.”

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Cameron LNG pipeline ready to start some new additions

Sempra Energy is seeking authorization to place into service some new infrastructure on its Cameron Interstate Pipeline (CIP) that would send gas to the Cameron LNG export terminal along the US Gulf coast.

The Cameron LNG export project, located along the Calcasieu channel near Hackberry, Louisiana, is scheduled to come on line in mid-2018 and reach full production in 2019.

CIP yesterday told the US Federal Energy Regulatory Commission (FERC) it has completed some of the work to add 2.4 Bcf/d (68mn m³/d) of bidirectional services to provide gas to the export project. It said it has a contractual arrangement with Cameron LNG to provide transportation services via the new facilities starting on 1 April, and asked FERC to authorize placing the new infrastructure in service by that date…

 

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Cheniere Gets Commitments from Devon, Marathon and Gulfport for Proposed STACK/SCOOP-to-Gulf Coast Gas Pipeline

Cheniere Energy’s (ticker: LNG) Midship Pipeline Company, LLC has signed agreements with foundation shippers to support construction of a 200 mile, 36-inch interstate natural gas pipeline project and has launched a binding open season for shippers—known as the Midship project.

Cheniere said the commitments are from subsidiaries and/or affiliates of Cheniere, Devon Energy Corporation (ticker: DVN), Marathon Oil Corporation (ticker: MRO), and Gulfport Energy Corporation (ticker: GPOR).

The Midship project targets pipeline capacity of up to 1,400,000 Dekatherms per day (or approximately 1.4 Bcf/day) of firm transportation to connect production from the emerging STACK and SCOOP to Gulf Coast and Southeast markets…

 

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Don Briggs: ‘I was afraid. I wanted to die

Don Briggs looked death squarely in the eye and decided this: It looked OK, even welcome.

That was his view from where he rested in hospital beds in North Carolina, Louisiana and Texas as he made a painstakingly slow recovery from a brutal, Sept. 30 accidental fall in his vacation home in the North Carolina mountains. The fall resulted in a traumatic brain injury, rendering him largely helpless, in ceaseless pain, and wondering if things would ever change.

Briggs, 76, president of the Louisiana Oil & Gas Association, was unaccustomed to lying still, unaccustomed to not being in charge, unaccustomed to depending on the skill and care of others. By nature, he’s a take-charge guy. Largely inert in hospital beds, he wondered if he’d ever be in charge of his own life again. Death? There seemed to be worse options…

 

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Apache’s trees, activities earn state conservation award

Then Saturday, the Louisiana Wildlife Federation will honor the state’s well-deserving conservationists for 2016 at its annual Governor’s Conservation Awards banquet set for 6 p.m. at Boudreaux’s on Government Street in Baton Rouge.

Apache Corporation was selected by a panel of judges to receive the top honor, Conservationist of the Year. Apache was lauded for its extensive work in its Tree Grant Program, including 300,000 trees in 2016, a plan that raised its tree-planting efforts to 4 million trees since 2005, notably for its tree donations to re-establish black bear habitat…

 

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What will Louisiana see from Exxon’s $20 billion ‘Growing the Gulf’ investment?

Exxon CEO Darren Woods touted his company’s ongoing $20 billion investment over 10 years in the Gulf Coast region — including the creation of more than 45,000 jobs — in a March 6 speech at a Houston energy conference. Although the program has been in place since 2013, President Donald Trump and Republicanspromoted it anew after recognizing the company’s plan aligns with their emphasis on industrial job growth and tipping the international trade scales in favor of the U.S.

A closer look at Exxon’s Growing the Gulf initiative finds many of its projects have been completed or are already underway, but Louisiana is still under consideration for the final major facility in the plan. Analysts in the energy sector say the state is well position for continued industrial investment, even if Exxon passes over Louisiana for this particular project.

The largest remaining piece in the Exxon’s $20 billion plan is Gulf Coast Growth Ventures, its collaboration with Saudi Arabian chemical manufacturer SABIC to build a plastics manufacturing facility along the Gulf Coast. Texas and Louisiana are considered the most likely spots for the project…

 

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LA oil and gas struggles to bounce back with 1,800 jobs lost in January

The latest job numbers for Louisiana’s oil and gas show the industry is not bouncing back as quickly as expected.

The industry lost 1,800 jobs in January, according to the Louisiana Workforce Commission.

Louisiana’s job market remains one of the lowest in the country with an unemployment rate of 5.9, the fourth worst in the nation. With the price of oil teetering around $50 a barrel for nearly a year, the struggling oil and gas industry takes the brunt of the blame…

 

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Frank Harrison Jr. Honored by the Foundation

Longtime AAPG Foundation supporter and leader Frank Harrison Jr., a founder of the group’s highly successful Trustee Associates, is this year’s recipient of the AAPG Foundation Chairman’s Award.

This award, given in recognition of those who have made extraordinary contributions (monetary or service) to the AAPG Foundation and who call attention to the role and value of the Foundation, will be presented April 4 at the Chairman’s Reception during the AAPG Annual Convention and Exhibition in Houston.

Harrison’s relationship with the Foundation began in 1978 when he was invited by James E. Wilson to become a founding member of the Trustee Associates, a distinguished group of donors who provide support for Foundation fundraising efforts and counsel and leadership to the Trustees…

 

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