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• U.S. Kinder Morgan wins Texas court challenge, removing obstacle to $2 billion gas pipeline
  DENVER/HOUSTON (Reuters) - Kinder Morgan Inc can begin work on a $2 billion natural gas pipeline without...
  DENVER/HOUSTON (Reuters) - Kinder Morgan Inc can begin work on a $2 billion natural gas pipeline without having the Texas energy regulator approve its proposed route, a state judge ruled on Tuesday.
  
  The decision removes a challenge to the state's licensing process that lets gas pipeline companies determine their own route and acquire land without a landowner's consent. Texas is in the midst of a pipeline-construction boom with multibillion-dollar projects under way to bring shale oil and gas to market.
  
  A Travis County District court ruled the Texas Railroad Commission, the state's oil and gas regulator, is not required to set standards for routing the pipelines or private land-takings, Judge Lora Livingston wrote on Tuesday. The state allows gas pipeline operators that qualify as utilities to use eminent domain to take land for the public good.
  
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• Oilfield servicers start getting their pricing mojo back
  A change in fortunes may be on the horizon for oilfield services providers, who are starting to regain...
  A change in fortunes may be on the horizon for oilfield services providers, who are starting to regain their pricing power after a prolonged period of financial hardship, in large part thanks to industry consolidation, says Rystad Energy. The four biggest oilfield services firms -- Halliburton, Schlumberger, TechnipFMC and BHGE -- were able to claw back market share from smaller competitors in the past two years, but Rystad's Audun Martinsen warns that some segments remain "heavily challenged by oversupply."
  
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• U.S. oil ends higher on Monday, but Brent falls
  Oil futures split two ways on Monday, with U.S. prices ending higher but global benchmark Brent crude...
  Oil futures split two ways on Monday, with U.S. prices ending higher but global benchmark Brent crude posting a loss as the U.S. announced new sanctions on Iran.
  
  President Donald Trump on Monday signed an executive order imposing financial sanctions on Iranian leaders, according to pool reports from the White House.
  
  August West Texas Intermediate crude CLQ19 climbed by 47 cents to settle at $57.90 a barrel on the New York Mercantile Exchange. That was the highest front-month contract finish since May 29.
  
  August Brent crude BRNQ19 ended down 34 cents at $64.86 a barrel on ICE Futures Europe. The contract wrapped trading Friday at $65.20 — the highest since May 30.
  
  Oklahoma crude oil prices as of 5 p.m. Monday:
  Oklahoma Sweet: Sunoco Inc. — $54 Oklahoma Sour: Sunoco Inc. — $42
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• The U.S. Accounted For 98% Of Global Oil Production Growth In 2018
  Earlier this month BP released its Statistical Review of World Energy 2019. The Review also reported...
  Earlier this month BP released its Statistical Review of World Energy 2019.
  
  The Review also reported a new global oil production record in 2018 of 94.7 million BPD,1 an increase of 2.22 million BPD over the previous year.
  
  The U.S. extended its lead as the world's top oil producer to a record 15.3 million BPD.2 In addition, the U.S. led all countries in increasing production over the previous year, with a gain of 2.18 million BPD (equal to 98% of the total of global additions).
  
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• Overall US Rig Count Lowest Since Feb 2018
  The number of active oil and gas rigs in the United States fell again this week according to Baker Hughes,...
  The number of active oil and gas rigs in the United States fell again this week according to Baker Hughes, as the overall rig count reaches the lowest point since February 2018.
  
  Year-to-date, the oil rig count has fallen from 877 active rigs since the beginning of the year to 789, while gas rigs have fallen from 198 to 177 during that same time.
  
  Despite the rig decline year on year, US production is still almost 2 million barrel per day higher year on year.
  
  CRUDE PRICES FRIDAY CLOSE:
  Brent futures rose 75 cents, or 1.2%, to settle at $65.20 a barrel, while the most active U.S. West Texas Intermediate (WTI) crude contract ended the session up 36 cents, or 0.6%, at $57.43.
  
  
  
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