- Next Decade Corporation
- Bechtel: awarded two contracts worth almost $10 billion
- EP&C
- Brownsville, TX
- first stage: three liquefaction trains; two 180,000 cubic meter storage tanks; two marine berths
- each train: up to almost 6 million tons per annum
- list of LNG export facilities at this post
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Back to the Bakken
Wells coming off the confidential list today -- Thursday, May 30, 2019: 95 for the month; 189 for the quarter --
- 35242, SI/NC, WPX, Badlands 5-32-29HT, Heart Butte, no production data,
| $58.84 | 5/30/2019 | 05/30/2018 | 05/30/2017 | 05/30/2016 | 05/30/2015 |
|---|---|---|---|---|---|
| Active Rigs | 64 | 62 | 50 | 29 | 80 |
RBN Energy: US E&Ps cut costs in response to price decreases.
U.S. oil and gas producer share prices got a nice boost in mid-April from the Chevron/Occidental Petroleum bidding war for Anadarko Petroleum, which sold for more than a 40% premium to its price before Chevron’s opening bid. But the optimism was only temporary; the S&P E&P stock index has since retreated 13% to mid-February levels, during a month in which companies released their first quarter 2019 earnings reports. That suggests that, despite a 38% quarter-on-quarter increase in the pre-tax operating profit of the 44 E&Ps we track, investors found nothing in the first quarter results to dispel the generally negative sentiment that has hung like a dark cloud over the oil and gas industry since late 2014. Today, we analyze the first quarter financial performance of our 44 E&Ps and review the outlook for an industry ripe for further consolidation because of depressed equity valuations.