The Canadian oil company drills for hydrocarbons primarily in Texas and Alberta shale formations. In Colorado, it produces a daily haul of 14,800 barrels of oil and 52 million cubic feet of natural gas on the 51,000 net acres it plans to sell.
The U.S. Energy Information Administration estimates domestic crude production declined by 120,000 barrels a day in September and projects it will fall to an average 8.86 million barrels a day next year from this year’s peak of 9.6 million barrels a day in April.
The Federal Railroad Administration said the broken rail resulted from a crack that had expanded. The problem was missed by CSX Corp. and a contractor on inspections in December 2014 and last January, said Sarah Feinberg, the FRA’s acting chief.
“In our tougher deals, we’re seeing a 30 to 40 percent drop and the better deals are flat to maybe even a little bit up,” said Rich Gould, head of energy credit and risk management at Wells Fargo during a panel hosted by Thompson & Knight in Houston on Thursday.
The fee hike, the largest since at least 2009, will be applied to wholesale power purchases, meaning that it won’t go directly into home bills. But it’s sure to trickle down anyway, and could increase your energy costs by 10 cents or more each month.
Consulting firm IHS Inc. says only one in every 20 projects planned are actually necessary by 2025 as weakening Asia economies, cheap coal, the return of nuclear power in Japan and the ever-expanding glut of shale supply in North America temper demand for the power-plant fuel, putting tens of billions of dollars worth of export projects at risk.
The chamber is expected to pass the measure, but a White House veto threat could suppress Democratic support and a fight over sending more federal dollars to privately held cargo ship owners may prompt some Republican “no” votes.
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