International news for oil and gas professionals
There was a lot of talk about energy in the Oct. 3 presidential debate between Republican challenger Mitt Romney and Democrat incumbent Barack Obama, I'm told. That information came to me secondhand because I wasn't among the millions watching it on TV.
The US drilling boom seems to be taking a breather. The Baker Hughes rig count, at 1,837 the week of Oct. 5, was down 11 units from the previous week and down 175 units from the same week of 2011.
Oil and natural gas issues quickly appeared as US President Barack Obama and former Massachusetts Gov. Mitt Romney met on Oct. 3 in the first of three debates.
The Natural Gas Supply Association predicted slightly higher upward pressure on prices in the 2012-13 heating season as it released its 12th annual Winter Outlook.
Is it time for federal energy policymakers to quit relying on cherished assumptions? Washington observers increasingly ask this question, not simply because it's an election year but also because what will need to happen after with the federal budget is so critically important.
Benefits from US energy exports are so obvious that policymakers should look beyond crude oil and LNG to higher-value petroleum products, a Washington energy observer suggested.
In several senses, security governed the discussion on the opening day at Gastech in London. Executive panels through the day explored various meanings of the word and implications of the concept.
Wood Mackenzie Ltd. anticipates a strong medium- to long-term resurgence of exploration and production activity for the deepwater Gulf of Mexico following the 2010 Macondo well blowout and resulting massive oil spill offshore Louisiana, which stalled gulf activities for a while.
Policymakers across all levels of government in the US must guard against unnecessary or duplicative regulations that could impede investments in unconventional oil and gas plays, which already created jobs and boosted revenues for some states, American Petroleum Institute Chief Economist John Felmy said.
Halcon Resources Corp., Houston, plans to add four to six operated rigs by the end of 2012 to the 11 it is currently running in its resource-style drilling program in the wake of its acquisition of GeoResources Inc. and assets in East Texas.
GMX Resources Inc., Oklahoma City, is adjusting its operating practices in an effort to improve results of Bakken completions in the Williston basin.
Despite challenges, Iraq's energy sector holds the key to the country's future prosperity and can make a major contribution to the stability and security of global energy markets, the International Energy Agency said Oct. 9.
