E&P Permitting Activity Showing Summer Slump in U.S. Natural Gas Plays
Permit approvals for U.S. onshore oil and gas drilling slowed in July versus June, dropping 8% to 1,538, according to new data compiled by Everus and Evercore ISI.
Permit approvals for U.S. onshore oil and gas drilling slowed in July versus June, dropping 8% to 1,538, according to new data compiled by Everus and Evercore ISI.
The U.S. Department of Energy (DOE) said its temporary pause on new LNG export authorizations would not affect pending extension requests for projects’ existing export licenses.
Oil and natural gas permitting in the Lower 48 fell by double-digits in November from a month earlier, driven by losses in the Permian Basin, according to Evercore ISI.
Venture Global LNG Inc. has requested permission from FERC to bring three additional liquefaction blocks online at its Calcasieu Pass facility in Louisiana as part of the nearly two-year long commissioning process.
FERC is making “significant strides” to address energy infrastructure permitting, considered essential to the nation’s security, according to Acting Chairman Willie Phillips.
Weak natural gas prices and inflation are likely to be big topics as North American producers and midstream operators unveil their quarterly results in the coming weeks.
Nearly 3,000 permits were issued in February to explore for U.S. oil and gas, a slight increase from January but down nearly 9% from a year ago, according to state and federal data.
A trio of U.S. trade organizations led by the American Petroleum Institute (API) is again calling on the Biden administration to engage forcefully with Mexico over the latter’s energy policies, which the groups say give preferential treatment to Mexico’s state-owned producers of hydrocarbons and electricity.
Equitrans Midstream Corp.’s (EQM) long-delayed Mountain Valley Pipeline (MVP) may gain some necessary permits within the next few months, “which will allow us then to bring MVP into service in 2023,” said CEO Thomas Karam.
President Biden, who has championed a zero-carbon emissions future, on Tuesday acknowledged that the United States would need oil and natural gas for at least another decade. However, his silence on exploration and production permitting reform was deafening for some politicos and industry groups.