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Oil and Gas Journal Drilling News

  1. The Colorado Supreme Court reversed a lower court’s decision that would have required the Colorado Oil & Gas Conservation Commission to consider potential health and climate impacts before authorizing more exploration and production. The suit was filed after COGCC rejected a late-2013 petition asking it to reject applications for new drilling permits unless they did not pose a human health or climate threat.

  2. The light, sweet crude oil price for February dropped more than $1 on the New York market Jan 14 to settle just above $50.50/bbl while Brent crude for March dropped nearly $1.50 to settle just under $59/bbl in London.

  3. US House Democrats wasted little time before seven of them introduced bills on Jan. 8 aimed at keeping oil and gas exploration from expanding off their coastal states’ shores. The federal measures came as state legislators in Connecticut, Georgia, Hawaii, Maine, Massachusetts, New Hampshire, New York, Oregon, and Rhode Island announced a coordinated effort to limit any new capabilities offshore their states.
  4. In its latest monthly oil market report, the International Energy Agency has revised its 2019 non-OPEC supply growth forecast down by 415,000 b/d to 1.5 million b/d, partly due to expected cuts from Russia and to lower growth in Canada.
  5. Privately held Western Gas Corp. Pty. Ltd., Perth, has signed a memorandum of understanding with international service companies McDermott and Baker Hughes to be exclusive development partners for the Equus gas project offshore northwest Western Australia (OGJ Online, May 15, 2018).