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Low crude prices pressure Latin American producers, CSIS forum told

Thu, Feb 26, 2015

Depressed crude oil prices are putting new pressure on Latin American producing countries to improve terms if they expect to attract outside investment for developing resources, speakers said during a Feb. 25 discussion at the Center for Strategic & International Studies.

Petroleum detected in fish tested after Yellowstone River pipeline spill

Thu, Feb 26, 2015

Detectable levels of petroleum were found in tests of fish pulled from the Yellowstone River downstream from a broken petroleum pipeline near Glendive. Mont., and the Montana Fish, Wildlife and Parks advised fishermen to use caution when deciding whether to eat fish from the oil spill area.

Suriname bid round draws lackluster response

Thu, Feb 26, 2015

The dramatic fall in oil prices is being blamed for the lack of interest shown by international oil companies (IOCs) in the deepwater offshore Suriname in the Suriname-Guyana basin.

House panel launches probe of DOS’s Keystone XL application process

Thu, Feb 26, 2015

The US House Oversight and Government Reform Committee began an investigation of the US Department of State’s environmental impact statement for the proposed Keystone XL crude oil pipeline. It requested comments DOS asked other federal departments to provide regarding DOS’s final supplemental EIS for the project in a Feb. 24 letter to Sec. of State John F. Kerry.

Antero Resources cuts 2015 Marcellus spending vs. 2014

Thu, Feb 26, 2015

Antero Resources Corp., Denver, said it plans to spend $1.6 billion during 2015 for drilling and completion activities in the Marcellus and Utica shale plays, marking a 36% reduction as compared with 2014 drilling and completion expenditures.

RIL lets contract for Jamnagar refinery expansion work

Thu, Feb 26, 2015

Reliance Industries Ltd. (RIL), Mumbai, has let a contract to Metso Corp., Helsinki, to supply valve technology as part of the Phase 3 expansion project at its 1.24 million-b/d Jamnagar refining and petrochemical complex in Gujarat, India.

Uganda announces tender for Albertine Graben acreage

Thu, Feb 26, 2015

The virtually untouched Albertine Graben of Uganda may contain more than 6.5 billion bbl of oil resources according Ugandan officials.

BLM Utah office adopts USFS leasing analysis for Fishlake Forest

Thu, Feb 26, 2015

The US Bureau of Land Management’s Utah state office will adopt the US Forest Service’s final environmental impact statement and record of decision for oil and gas leasing on land administered by Fishlake National Forest.

MARKET WATCH: Crude oil prices gain on Saudi oil minister comments

Thu, Feb 26, 2015

US light, sweet crude oil prices gained more than $1/bbl on the New York market Feb. 25 while Brent crude oil prices jumped by nearly $3/bbl on the London market on comments from Saudi Arabia Oil Minister Ali al-Naimi that world oil demand was increasing.

Chesapeake’s $4-4.5 billion capex down 37% vs. last year

Wed, Feb 25, 2015

Chesapeake Energy Corp., Oklahoma City, is budgeting total capital expenditures, including capitalized interest, of $4-4.5 billion for 2015.

New regulator lists UKCS ‘priority actions’

Wed, Feb 25, 2015

The UK’s Oil and Gas Authority, responding to calls from industry and the government for prompt support of UK Continental Shelf (UKCS) exploration and production, has described “eight highest priority actions” for its first year of operation.

Grizzly files OSCA application with AER for Thickwood

Wed, Feb 25, 2015

Grizzly Oil Sands ULC, Calgary, has filed an Oil Sands Conservation Act application with Alberta Energy Regulator for the Thickwood project.

BLM moving toward strategy for Greater Sage Grouse, Jewell says

Wed, Feb 25, 2015

Calling it a remarkable example of federal, state, and local cooperation, US Sec. of the Interior Sally Jewell said the US Bureau of Land Management is finishing up plans to protect the Greater Sage Grouse and make it unnecessary for the US Fish and Wildlife Service to list it as an endangered or threatened species.

Encana trims additional $700 million from 2015 capital budget

Wed, Feb 25, 2015

Encana Corp. is reducing its previously reported capital investment for 2015 by $700 million to $2-2.2 billion “to maintain a solid balance sheet and help strengthen liquidity through a low price environment.”

Hickenlooper’s siting task force calls for more local consultation

Wed, Feb 25, 2015

Colorado Gov. John W. Hickenlooper’s (D) oil and gas siting taskforce called for more consultation and greater involvement with local communities on Feb. 24, but stopped short of giving them more power as it forwarded 9 of 36 proposals to him, The Denver Post reported.

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