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Week of August 18, 2019

  • Furie files Ch. 11 - 08/18/2019  Furie Operating Alaska LLC, headquartered in Anchorage, filed a voluntary petition for Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware Aug. 9, listing about $450 million in debt. The company said it plans to sell its assets, which it listed on its petition with an estimated valu....

  • New bonding reg criticized - 08/18/2019  The comments “making it retroactive is illegal” and “will hurt oil and gas investment in Alaska” and “the new regulation favors big companies, hurts small companies, and overlaps with DNR, BLM bonding” best sum up the majority of remarks received in a survey about the increase in bonding levels for....

  • Juggling indigenous rivals - 08/18/2019  Alberta Premier Jason Kenney marked his first 100 days in office by launching a new phase of his Fight Back Strategy against those who challenge natural resource development. His government has set aside C$10 million to pick up the legal tabs of First Nations who defend pipelines and other resource....

  • Oil patch iinsider: Sheppard offers hope for OPEC oil price bailout later this year - 08/18/2019  In a recent Markets Insights piece in the Financial Times, the publication's energy editor David Sheppard offered hope for an OPEC bailout due to Saudi Arabia's urgent need for higher oil prices. Following is an abbreviated look at that article. To read the entire piece go to https://www.ft.com/ Rem....

  • ANWR FEIS in a couple of months, NPR-A draft plan out in October - 08/18/2019  It appears there will be no new seismic work in the Arctic National Wildlife Refuge coastal plain done before a planned federal lease sale later this year. Chad Padgett, BLM's Alaska area manager, said his agency has proposals for both ground-based and airborne geophysical surveys in ANWR's coastal....

  • In quest of cleaner energy; Shell posts major Canada CCS milestone - 08/18/2019  After years of being poked and prodded, Royal Dutch Shell has partly answered its critics by reporting a series of benchmark successes at its carbon capture and storage facility near Edmonton. The Quest plant, which sequesters carbon dioxide emissions from Shell's Scotford Upgrader, sequestered 4 mi....

  • Hilcorp gets BOEM approval for Cook Inlet 3D geophysical survey - 08/18/2019  The federal Bureau of Ocean Energy Management said Aug. 14 that it has approved Hilcorp Alaska’s request to conduct a geophysical survey in federal waters of Cook Inlet. BOEM said the area to be surveyed is west of Kachemak Bay in lower Cook Inlet. The agency said the company expects to begin the s....

  • New Endangered Species Act regulations out - 08/18/2019  On Aug. 12 the U.S. Department of the Interior and the U.S. Department of Commerce signed off on revised regulations for the Endangered Species Act. As this issue of Petroleum News went to press the regulations had not yet appeared in the Federal Register. In a press release the Department of the I....

  • US drilling rig count drops by 8 to 934 - 08/18/2019  On Aug. 9 the number of rigs drilling for oil and natural gas in the U.S. was down eight from the previous week to 934, Houston oilfield services company Baker Hughes said, and down 123 from 1,057 active rigs a year ago. In its weekly rig count, the company reported that 764 rigs targeted oil (down....

  • Oil patch bits: Airframes Alaska voted #1 fastest growing company in Alaska - 08/18/2019  Oil patch bits: Airframes Alaska said Aug. 13 that Heather Montgomery, a life-long Alaskan and CEO of Alaska Tent & Tarp, Airframes Alaska, Alaska Bushwheels and Reeve Airmotive, has successfully grown the umbrella of business for more than seven years and is expanding its manufacturing capabilities....

  • Oil patch bits: Lynden maintains No. 1 ranking in quest for quality awards - 08/18/2019  Lynden Transport said Aug. 13 that it has maintained its top spot among carriers by earning a seventh consecutive No. 1 ranking and its 23rd overall award in the 36th annual Logistics Management Quest for Quality Awards. The company received the highest scores among less-than-truckload western regio....

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