Natural Gas News – May 1, 2019
Natural Gas News – May 1, 2019
Exxon, Chevron Leading The Permian Oil And Natural Gas Surge
Forbes reported: The Permian shale play in West Texas continues to see growth in oil and gas production, surging past all pessimism and expectations. This month, the Permian will account for ~35% of U.S. crude production and ~17% of natural gas supply. Oil and gas extraction in the play has more than doubled since 2016. Although the U.S. shale revolution that took flight in 2008 was ignited by the smaller independent oil and gas companies, the industry’s giants have increasingly taken over. For example, supermajors ExxonMobil and Chevron are now leading the Permian, ahead of their peers who are just now expanding operations through M&A activity. Exxon bought shale producer XTO Energy back in 2010, and in 2017 it acquired $6 billion in Permian acreage from the Bass companies. Wanting even more, “Exxon looks at rejoining US shale consolidation wave.” For more on this story visit forbes.com or click https://bit.ly/2DFFyz4
Largest Oregon Dairy Plans to Make Natural Gas From Cow Manure
Capital Press reported: Oregon’s largest dairy farm plans to turn millions of gallons of cow manure into renewable natural gas, if state regulators approve a key permit for the project. Threemile Canyon Farms in Boardman already uses waste from about 30,000 cows to generate electricity on site using a methane digester built in 2012. Now the farm wants to expand the facility and install new equipment that will convert the methane into “pipeline quality” natural gas. But first, the Oregon Department of Environmental Quality must OK an amended air quality permit for the proposal. Environmental groups are asking DEQ to deny the permit, arguing that manure-to-gas is inherently “dirty” and a false solution to climate change. Marty Myers, general manager of Threemile Canyon Farms, said the dairy has an agreement with a buyer in California for the gas, which it will use to make transportation fuel. Myers did not discuss specifics of the contract. For more on this story visit capitalpress.com or click https://bit.ly/2ZPBDZR
This article is part of Daily Natural Gas Newsletter
Tagged:
MARKET CONDITION REPORT - DISCLAIMER
The information contained herein is derived from sources believed to be reliable; however, this information is not guaranteed as to its accuracy or completeness. Furthermore, no responsibility is assumed for use of this material and no express or implied warranties or guarantees are made. This material and any view or comment expressed herein are provided for informational purposes only and should not be construed in any way as an inducement or recommendation to buy or sell products, commodity futures or options contracts.
