This is Queen Street Analytics' weekly digest of regulatory developments, legislative discussions and other government-related news concerning oil and gas production, wells, drilling, petroleum and fuels refining, pipelines, LNG, hydrocarbons, and all Landman fans. Once a week, we break down the most important updates in this space in under five minutes.

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Dates: 2026-03-08 to 2026-03-14

📋 In This Week's Newsletter

• 🏛️ This Week's Congressional Calendar
• 🇺🇸 Federal Government News
• 📚 What We're Reading This Week

This Week's Congressional Calendar

• House Energy and Commerce Subcommittee Hearing: Winter Storm Fern Lessons: The House Energy and Commerce Subcommittee on Energy will hold a hearing titled "Winter Storm Fern Lessons: Supplying Reliable Power to Meet Peak Demand" on March 17 at 2:00 PM, featuring testimony from Grid Strategies LLC, North American Electric Reliability Corporation, Southwestern Electric Power Company, and Northeast Gas Association.

Federal Government News

BOEM Proposes Changes to Financial Assurance for Offshore Oil and Gas Operators

The Department of the Interior, via the Bureau of Ocean Energy Management, issued a notice of proposed rulemaking on March 9 related to risk management and financial assurance requirements for Outer Continental Shelf (OCS) lease and grant obligations. The proposal seeks to reduce the supplemental financial assurance burden for oil, gas, and sulfur lessees, right-of-use and easement grant holders, and pipeline right-of-way grant holders by lowering the credit rating threshold for exemption from BBB- to BB- (S&P) or its Moody's equivalent, and by permitting the financial strength of jointly liable predecessors to count toward assurance requirements. The decommissioning cost estimate used for assurance calculations would shift from the P70 to P50 probabilistic estimate. The amendments would apply to entities under NAICS codes 211120 (Crude Petroleum Extraction), 211130 (Natural Gas Extraction), and 486110 (Pipeline Transportation of Crude Oil and Natural Gas), with anticipated total regulatory savings of $6.2 billion. Public comments are accepted through May 8, 2026.

Sources: www.federalregister.gov

FERC Schedules Environmental Assessment for Egan Cavern Expansion Project

On March 12, FERC announced an environmental assessment (EA) for the Egan Cavern Expansion Project. Egan Hub Storage, LLC seeks to expand its Acadia Parish, Louisiana facility by constructing two new salt dome storage caverns (8.0 Bcf working gas each), new compression facilities, a leaching and dewatering facility, freshwater and brine pipelines, and a new disposal well. The EA is scheduled for release May 22, 2026, with federal authorization decisions due by August 20, 2026. The Commission will address comments related to permitting, environmental document contents, and cavern lateral extent.

Sources: www.federalregister.gov

Venture Global CP2 LNG Requests Amendment to LNG Export Authorization

Venture Global CP2 LNG, LLC has submitted a request to DOE’s Hydrocarbons and Geothermal Energy Office for a limited amendment to its existing non-FTA LNG export authorization, seeking to raise its permitted export volume by 427 Bcf/year from 1,446 Bcf/year to 1,873 Bcf/year. The request, filed February 20, 2026, cites refined analysis of peak terminal capacity, and notes no new facilities or modifications are required to implement the increase. The terminal is located in Cameron Parish, Louisiana. Prior authorization (Order No. 5264-A) allows exports through December 31, 2050; public comments are due by May 11, 2026.

Sources: www.federalregister.gov

White House Executive Order: Adjusting Delegations Under the Defense Production Act

President Trump issued an executive order on March 13 amending Executive Order 13603 to allow both the Secretary of Commerce and Secretary of Energy to independently exercise delegated authority under the Defense Production Act. The order further clarifies Executive Order 14156, specifying that agency heads need only recommend actions to the President where authority is not delegated. The Department of Energy will cover publication costs.

Sources: www.whitehouse.gov

FERC Schedules Environmental Assessment for Forza Pipeline Project

FERC will prepare an environmental assessment for the Forza Pipeline Project, involving Forza Pipeline, LLC and Bull Run Pipeline, LLC. The proposed project consists of a 35.9-mile, 36-inch pipeline from Lea County, New Mexico to Winkler County, Texas, new meter and valve facilities, and a 750,000 Dth/day transportation capacity lease to Bull Run. The EA will be released August 28, 2026, with a 90-day federal decision deadline of November 26, 2026. Comments received include air and water quality issues, hazardous waste considerations, ranch route concerns, and cumulative impacts.

Sources: www.federalregister.gov

What We're Reading This Week

• With the Strait of Hormuz Closed, the Long-Feared Persian Gulf Oil Squeeze Is Upon Us: Persian Gulf oil flows are constrained as the Hormuz chokepoint closes amid Iran conflict.
• IEA announces record oil stockpile release over Iran war supply disruptions: The International Energy Agency approves the largest-ever release from strategic oil reserves in response to supply disruptions.
• Countries agree on historic release of crude reserves to lower oil and gasoline prices: Governments collectively release crude reserves in an unprecedented effort to reduce oil and gasoline prices.
• The Largest Oil Supply Disruption in History: Global oil markets face their most severe supply disruption on record.
• Biggest global oil supply disruptions in history: Review of historical oil supply disruptions and their impact on world markets.
• Iran war puts at risk key pipelines, terminals and refineries that supply the world with oil and gas: Iran conflict threatens critical oil and gas infrastructure worldwide.
• Why drilling more oil in the US can’t bring down gas prices: Analysis questions the efficacy of increased US drilling in lowering consumer gas prices during international disruptions.
• Protecting Trillions in Energy Assets: How Molecular Traceability is Helping Safeguard Global Oil and Gas Investments: Molecular traceability is deployed to secure oil and gas assets globally.
• Protecting Trillions in Energy Assets: How SMX Technology Helps Defend Investment and ROI in Global Oil and Gas Supply Chains: SMX technology assists in protecting investments across oil and gas supply chains.
• Markets Are Still Sanguine About the Oil Outlook: Despite recent disruptions, oil markets remain relatively optimistic.

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