BOE Report

ExxonMobil Starts Banyu Urip Central Processing Facility in Indonesia

IRVING, Texas--(BUSINESS WIRE)--ExxonMobil announced today the successful and safe startup of the onshore central processing facility at the Banyu Urip field in Indonesia, helping increase production to more than 130,000 barrels of oil per day. With the central processing facility now online, production will continue to increase in the coming months. Once full field production is reached, Banyu Urip will represent approximately 20 percent of Indonesia’s 2016 oil production target. “This [Read more]

Tortoise Index Solutions Announces Index Updates for Fourth Quarter 2015

LEAWOOD, Kan.--(BUSINESS WIRE)--Tortoise Index Solutions today announced upcoming additions and deletions to its indices as part of their regular quarterly rebalancing for the fourth quarter of 2015, as follows below. Following the close of trading on Dec. 18, 2015, the indices will be rebalanced and as a result, the following changes will become effective.   Tortoise North American Pipeline IndexSM(TNAP/TNAPT) Action       Company       Ticker Addition       Archrock, Inc.       AROC Removal [Read more]

IH2 Technology Demonstration Plant to Be Built

HOUSTON--(BUSINESS WIRE)--Shell India Markets Pvt Ltd (SIMPL) will proceed with the installation of a 5 tonne/day IH2 technology demonstration plant on the site of SIMPL’s new Technology Centre in Bangalore, India. SIMPL will build, operate and own the demonstration scale IH2 plant. IH2 technology is a continuous catalytic thermo-chemical process which converts a broad range of forestry/agricultural residues and municipal wastes directly into renewable hydrocarbon transportation fuels and/or [Read more]

Chevron Confirms First Production from the Moho Bilondo Phase 1b Development Offshore the Republic of Congo

SAN RAMON, Calif.--(BUSINESS WIRE)--Chevron Corporation (NYSE:CVX) confirmed today that its subsidiary, Chevron Overseas (Congo) Limited, and partners have started production from the deepwater development Moho Bilondo Phase 1b offshore the Republic of Congo. Located approximately 46 miles (75 km) off the coast of Pointe-Noire in water depths ranging from 2,400 to 4,000 feet (750 to 1,200 meters), Moho Bilondo Phase 1b is part of the Moho Nord joint development project, the largest-ever oil [Read more]

Williams Receives Platts 2015 Global Energy Award for Industry Leadership

TULSA, Okla.--(BUSINESS WIRE)--Williams (NYSE: WMB) received a Platts 2015 Global Energy Award in New York last night for its industry leadership in the midstream sector. The award recognizes Williams for executing on its strategy to connect the best natural gas supplies to the best markets while helping break new ground in such areas as technology, operational excellence and methane emission research. The award was open to all companies storing, transporting or facilitating trade of energy; [Read more]

California Welcomes World’s First Fully Sustainable Biofuel Facility

FRESNO COUNTY, Calif. & VENTURA COUNTY, Calif.--(BUSINESS WIRE)--California is welcoming the world’s first fully sustainable liquid biofuel facility to help address energy needs and climate goals with an economically viable solution. The new San Joaquin Valley-based facility, which is owned and operated by sustainable biofuel and bioenergy company Biodico Westside, will produce up to 20 million gallons of biodiesel per year, and create 45 direct jobs in partnership with West Hills Community [Read more]

ConocoPhillips Announces 2016 Operating Plan and Capital Budget of $7.7 Billion; Expects $2.3 Billion from Asset Dispositions

HOUSTON--(BUSINESS WIRE)--ConocoPhillips (NYSE: COP) today announced its 2016 operating plan. Key highlights from the plan include: $7.7 billion capital budget; 1 to 3 percent production growth, adjusted for asset sales; and $7.7 billion of operating costs. Chairman and Chief Executive Officer Ryan Lance commented, “We’re setting an operating plan for 2016 that recognizes the current environment, which remains challenging. We are significantly reducing capital and operating costs, [Read more]

Parsley Energy Prices Upsized Offering of Class A Common Stock

AUSTIN, Texas--(BUSINESS WIRE)--Parsley Energy, Inc. (NYSE: PE) (“Parsley Energy” or the “Company”) today announced that it has priced an underwritten, upsized public offering of 11,227,273 shares of its Class A common stock by the Company and 1,122,727 shares of its Class A common stock by NGP X US Holdings, L.P., one of the Company’s stockholders, at $18.00 per share. The 12,350,000 share offering represents a 3,000,000 share upsize to the originally proposed 9,350,000 share offering. Total [Read more]

Chevron Announces $26.6 Billion Capital and Exploratory Budget for 2016

SAN RAMON, Calif.--(BUSINESS WIRE)--Chevron Corporation (NYSE:CVX) today announced a $26.6 billion capital and exploratory investment program for 2016. Included in the 2016 program are $4.5 billion of planned expenditures by affiliates. The 2016 budget is 24% lower than total expected investments for 2015. “Our capital budget will enable us to complete and ramp-up projects under construction, fund high return, short-cycle investments, preserve options for viable long-cycle projects, and [Read more]

Milestone Environmental Services Breaks Ground on a New Facility in the Permian Basin

HOUSTON--(BUSINESS WIRE)--Milestone Environmental Services (Milestone), an industry leader in oilfield waste disposal, announced the ground breaking of its new slurry injection facility located near Pecos, Texas. The new full-service facility is the sixth to join the five existing locations in South and East Texas, and will be capable of taking waste streams including oil-based and water-based muds/drilling fluids, flowback, tank bottoms, dirty water and produced water. Milestone accepts [Read more]