The largest oil and natural gas lease auction in US history is scheduled to take place on March 21, the Interior Department announced Friday. The auction will involve 77.3 million acres offshore Texas, Louisiana, Mississippi, Alabama and Florida.
US proved natural gas reserves climbed 5% to 341.1 trillion cubic feet in 2016, while proved reserves of oil and condensate were unchanged from 2015 at 35.2 billion barrels, according to the Energy Information Administration. Pennsylvania posted the largest net increase in gas proved reserves in 2016, adding 6.1 trillion cubic feet.
US drillers deployed seven oil rigs to oilfields across the country last week, bringing the oil rig count to 798, according to Baker Hughes. However, the gains were offset by a seven-rig drop in the number of natural gas rigs.
San Antonio-based Andeavor Logistics has acquired the 575-mile Wamsutter Pipeline System from Plains All American Pipeline for $180 million. The system supplies crude oil to Salt Lake City refineries.
Drillers in Colorado's Niobrara region are expected to pump a record of 579,000 barrels of oil per day in March, encouraged by higher oil prices, according to the Energy Information Administration. Oil output from the Niobrara is seen climbing even further as drillers step up well completions, with the number of uncompleted wells down to 553, the lowest level since November 2014.
A magnitude 5.9 earthquake shook southern Mexico near Oaxaca early today after a larger quake damaged about 1,000 houses Friday in the same region. Friday's quake caused buildings to sway in Mexico City, which is about 483 kilometers north of Oaxaca.
Aker Solutions will work with Cognite, a software company, to analyze data from offshore installations and come up with potential ways to improve performance. Cognite collects and studies data from sensors, maintenance logs and computer-aided design models, among other systems.
Aker Energy says it's reached an agreement with Hess that would give it a 50% stake in the Tano Cape Three Points block off the coast of Ghana. If Ghana approves the $100 million deal for the ultra-deepwater block, which contains an estimated 550 million barrels of oil equivalent, Aker Energy says it would present a development plan this year and begin production in 2021.
The Mount Sinabung volcano on the Indonesian island of Sumatra erupted early today, sending ash and debris into the sky. The National Disaster Mitigation Agency, which said ash clouds went about 5 kilometers to the south, reported no deaths or injuries.
A magnitude 4.4 earthquake shook parts of Wales on Saturday. The quake, which was centered about 19 kilometers northeast of Swansea, was the biggest in the UK since 2008, the British Geological Survey said.
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