Gulfport Energy Corp. and Rice Midstream Holdings LLC, a wholly owned subsidiary of Rice Energy Inc., announced plans to form a midstream joint venture to develop natural gas gathering and water services assets to support dry gas development in the Ohio counties of Belmont and Monroe. Source: News
MARKET WATCH: NYMEX oil prices whipsaw, ending lower after inventory gain
Light, sweet crude oil prices for November delivery dropped about 70¢/bbl to close under $48/bbl on the New York market Oct. 7, ending a 3-day rally after a weekly US government report showed a gain in the oil and product inventory. Source: News
Social media key to winning project support, new INGAA chairman says
Better use of social media has become essential for natural gas transmission companies to win public support for proposed pipeline projects, the Interstate Natural Gas Association of America’s incoming chairman said. Source: News
AWE-led venture tests gas in Perth basin
The AWE Ltd.-operated joint venture with Origin Energy Ltd. has tested a significant flow of natural gas from its Waitsia-1 well in production licenses L1/L2 in the north Perth basin onshore Western Australia. Source: News
WoodMac: Near-term financial risks exaggerated for US independents
The high-growth business models of US independent operators are being tested by low oil prices and tougher access to capital. But two recent Wood Mackenzie Ltd. reports concluded that concerns surrounding October reserves-based lending (RBL) redeterminations have been exaggerated. Source: News
North American producers’ hedge cover to fall
Exposure of North American oil and gas producers to low oil prices will increase in 2016, according to IHS. Source: News
MARKET WATCH: NYMEX oil prices rally, closing above $48.50/bbl
Light, sweet crude oil prices for November delivery rallied by more than $2/bbl on the New York market Oct. 6 to settle above $48.50/bbl while Brent crude oil prices also rose more than $2/bbl on the London market to settle at a 4-week high of nearly $52/bbl for November delivery. Source: News
Lukoil starts up cracker at Russian refinery
PJSC Lukoil has commissioned a second complex for catalytic cracking of vacuum gas oil at its 17 million-tonne/year Nizhny Novgorod refinery at Kstovo, Russia. Source: News
Groups urge House leaders to support bill ending crude export ban
Top officials from 13 US oil and gas associations and three non-energy national business groups called on US House leaders to support HR 702, a bill that would end the 40-year ban on exporting US-produced crude oil, when it comes to a floor vote on Oct. 9. Source: News
US should modernize, not down-size, its SPR, Senate committee told
The US should resist congressional calls to sell part of its Strategic Petroleum Reserve to raise money for other federal programs, and concentrate instead on thoroughly analyzing where the SPR fits within dramatically different global markets than existed 40 years ago when it was established, witnesses told the US Senate Energy and Natural Resources Committee. […]