Texas

Oil and gas producers in the state are being asked to submit data and economic analysis on why they cannot sell natural gas before they are granted permission to flare it.

Plugging and cleaning up the open oil and gas wells in Texas could cost companies and taxpayers as much as $117 billion, according to a new report.

Two of Europe’s biggest oil companies urged Texas regulators to end the routine flaring of natural gas, joining with large investors who want greater oversight of the harmful environmental practice.

The original technology selected in 2015 and 2016 for Rio Grande LNG has since evolved. With five trains instead of six, Rio Grande LNG will still produce 27 mtpa.

The good news is 95% of the oil companies in Texas are expected to survive 2020, which means there is a lot of bad news to endure.

The Texas Railroad Commission’s chairman has said the commission will look into policies to “drastically reduce” natural gas flaring from the state’s shale patch as investors become increasingly sensitive to climate-change concerns.

Recommendations include changes to current forms and reports used to track flaring.

FID on RGLNG was originally expected in 2019, before it was pushed to Q1 2020. NextDecade will continue to develop and de-risk the project.

Texas Railroad commissioners recognize the battering Texas oil companies, and their workers, are taking, but will continue considering their options until 5 May.

Even some free-market advocates are calling for regulators to step in and try to help pull them out of what feels like a chasm by setting production limits.