A report by Pennsylvania's Independent Fiscal Office revealed that just four counties accounted for two-thirds of statewide natural gas production in the first three quarters of the year. Susquehanna County was the most productive in the state, with an output of 966.1 billion cubic feet through September, followed by Washington County at 679.2 billion cubic feet, Bradford County with 583.3 billion cubic feet and Greene County with 495 billion cubic feet.
Increases in wind energy and decreases in coal-burning generation have helped Iowa cut its greenhouse gas emissions 2% from 2015 levels, according to the Iowa Department of Natural Resources. Since 2016, wind generation in the state has increased 12.18%, it added.
Weakened tax credits for solar and wind power and numerous efforts by the Trump administration have worked to or could derail the growth of renewable energy in the US, with the recent tax-cut packages out of Congress being the most immediate threat, writes Justin Worland. Many analysts, however, such as BNEF's Stephen Munro argue that the industry is a proven innovator and will continue to thrive in the long run regardless of these short-term challenges.
Good leaders listen, follow through on promises and treat others as they'd like to be treated, writes Dennis Miller. "It may take some practice, but by learning to build trust and respect among your colleagues, you will dramatically increase your leadership potential," he writes.
Oasis Petroleum has agreed to buy 20,300 acres in the Permian Basin's Delaware lobe from Forge Energy for about $946 million in cash and stock. The assets produced about 3,500 barrels of oil equivalent per day in November, and Oasis said it plans to drill 16 to 20 wells on the new acreage.
The Interior Department as soon as this week could publish a draft proposal for opening waters off the East Coast to oil and natural gas drilling. Under the new five-year plan, the administration would auction off drilling rights in areas of the Atlantic Ocean that were not included in the Obama administration's lease sale plan running through 2022.
Despite the slate of new pipelines planned for the Permian Basin, Morningstar's Sandy Fielden warned that producers may be forced to sell their oil at a huge discount next year as Permian output keeps outpacing takeaway capacity. However, "Pipeline squeezes don't last long in the shale era, and they encourage midstream companies to accelerate new projects to expand existing capacity to fill the gap," Fielden said.
Denver-based Whiting Petroleum plans to write down the value of some of its assets at its Redtail Field in Colorado's Denver-Julesburg Basin by $800 million to $900 million as the company shifts its focus to the more productive Williston Basin in North Dakota.
Denver-based PDC Energy will invest $480 million in its development program in Colorado's Wattenberg Field next year, with plans to drill about 131 wells and bring into production an additional 139 wells. In total, PDC plans to invest between $850 million and $920 million at drilling sites in Texas, Ohio and Colorado in 2018.
The US is losing its status as a global leader in clean energy due to the Trump administration's agenda, including its decision to exit the Paris climate accord, writes Rep. Raja Krishnamoorthi, D-Ill. To retain its status, Krishnamoorthi argues that Congress should make community bonds more accessible to clean energy projects and measure infrastructure investments in terms of their economic and environmental returns.
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