Scott's Feed
Aug 14, 2015

U.S. oil drillers add rigs even as prices dive anew – Baker Hughes

Aug 14 (Reuters) – U.S. energy firms added oil rigs for a
fourth straight week, according to data that highlights how a
period of stable prices earlier this summer lulled some drillers
into stepping up spending just before a second oil market slump.

Reflecting plans announced in May and June, when U.S. crude
futures averaged $60 a barrel, drillers added two oil
rigs in the week ended Aug. 14, bringing the total count up to
672, the highest since early May, oil services company Baker
Hughes Inc said in its closely followed report.

Aug 13, 2015

U.S. judge upholds gas market manipulation charge against BP

By Scott DiSavino

(Reuters) – A judge on Thursday found that BP Plc
manipulated the natural gas market as alleged by the U.S. energy
regulator, but did not address a proposed $28 million fine
against the UK oil major or any other penalties.

The administrative law judge’s decision upheld the Federal
Energy Regulatory Commission’s charges that BP’s trading
activities in Texas in 2008 violated the Natural Gas Act.

Aug 7, 2015

U.S. oil drillers add rigs despite crude prices collapse – Baker Hughes

Aug 7 (Reuters) – U.S. energy firms added 6 oil rigs this
week, continuing a recent trend of increases, even after U.S.
crude oil prices plunged 25 percent from a recent high in June,
data showed on Friday.

That was a sign some drillers followed through on plans to
add rigs announced in May and June when U.S. crude futures
averaged $60 a barrel. U.S. crude futures so far this
week however have traded around $45.

Jul 30, 2015

New power rules may preserve Exelon nuclear plants in Illinois

By Scott DiSavino

(Reuters) – New rules for U.S. electricity providers could save two money-losing nuclear power plants in Illinois from shutting down and may amount to a $10 billion bonanza to U.S. power producers.

A system of rewards and penalties is part of a requirement approved last month by federal energy regulators that applies to a power auction next month.

Jul 24, 2015

U.S. oil drillers add rigs despite crude prices collapse-Baker Hughes

July 24 (Reuters) – U.S. energy firms added 21 oil rigs this
week after pulling seven rigs last week, despite a 21 percent
collapse in U.S. crude prices from a recent high in June, data
showed on Friday, a sign some drillers were returning to the
well pad.

The gain this week, however, was only the third increase
over the past 33 weeks, bringing the total rig count up to 659,
the highest since late May, oil services company Baker Hughes
Inc said in its closely followed report.

Jul 22, 2015

U.S. natural gas weekly EIA stock build seen at 70 bcf: Reuters poll

By Scott DiSavino

(Reuters) – U.S. utilities likely injected 70 billion cubic feet of natural gas into storage during the hotter-than-normal week ended July 17, the smallest stock build in three weeks, analysts told Reuters in a poll on Wednesday.

That compared with builds of 99 bcf in the cooler-than-normal prior week, 92 bcf a year earlier and a five-year average increase of 53 bcf.

Jul 10, 2015

U.S. oil drillers added rigs for 2nd week in a row -Baker Hughes

July 10 (Reuters) – U.S. energy firms added five oil rigs
this week, the second week of increases in a row, despite a 19
percent collapse in U.S. crude prices from a recent high, data
showed on Friday, a sign drillers were ready to return to the
well pad.

The gains came after 29 consecutive weeks of declines,
bringing the total rig count up to 645, the most since late May,
oil services company Baker Hughes Inc said in its
closely followed report.

Jul 8, 2015

Talen Energy wants to buy more U.S. power plants: CEO

By Scott DiSavino

(Reuters) – Newly formed U.S. independent power producer Talen Energy Corp is looking to buy natural gas, coal and nuclear power plants in New York, New England, Texas and the PJM region, the company’s Chief Executive Officer Paul Farr told Reuters.

Talen was created on June 1 when the merchant generation business of Pennsylvania power company PPL Corp was spun off and immediately combined with the competitive generation business of private equity firm Riverstone Holdings LLC.

Jul 2, 2015

U.S. oil rig count rises for first time since December-Baker Hughes

July 2 (Reuters) – U.S. oil drilling this week increased for
the first time after 29 weeks of declines, data showed on
Thursday, the strongest sign yet that higher crude prices are
coaxing producers back to the well pad.

The oil rig count rise of 12 to 640 followed a six-month
slump in activity that reduced the number of active rigs from a
peak of 1,609 in October to a nearly five-year low last week,
energy services firm Baker Hughes Inc said in its
closely followed report.

Jun 29, 2015

For U.S. power firms, EPA ruling barely a bump on road to natgas

By Scott DiSavino

(Reuters) – For big U.S. power companies like FirstEnergy Corp, the Supreme Court’s decision knocking back landmark rules reducing air pollutants from coal-fired plants has arrived too late for them to turn away from a natural gas-fueled future.

Big coal-fired generators said on Monday that they would press ahead with facility upgrades and plant closures even after the court invalidated one of President Barack Obama’s major environmental initiatives, which would set new limits on the amount of mercury and other hazardous pollutants.

    • About Scott

      "I cover the North American power and natural gas markets from New York since 2000. Before that I worked on the Equities desk covering energy, mining and heavy industry companies."
    • Follow Scott