The US Minerals Management Services issued a final rule outlining changes to the 1988 Federal Gas Valuation Rule, used to determine royalty on production from federal leases.
Crude prices soared to new heights as traders ignored an immediate 500,000 b/d hike by the Organization of Petroleum Exporting Countries in its production quota on Mar.
High oil, gas prices drove bidding at sales 194, 197 in US gulf
Near-record prices for oil and natural gas led to strong bidding Mar. 16 in two Outer Continental Shelf lease sales for tracts in the Eastern and Central Gulf of Mexico.
McMoRan Exploration Co., New Orleans, reported several deep gas successes on the Gulf of Mexico shelf off Louisiana, most of which qualify for federal royalty relief on early production volumes.
Mature fields in Texas and Oklahoma still contain significant production potential, according to Jeff Johnson, chairman and chief executive officer of Cano Petroleum Inc., a Fort Worth independent producer that became a public company in June 2004.
Using a downhole motor with bent housing most effectively requires determination of its deflecting performance and designing the bottom hole assembly according to the expected deflection rate.
The global ethylene industry added 2.13 million tonnes/year (tpy) of capacity in 2004, an increase from the 2003 addition rate of 1.34 tpy, according to OGJ's latest exclusive ethylene survey.
Bolivia's indigenous and trade union groups opposing the government's natural gas policies have called for new roadblocks and strikes in protest against Bolivian President Carlos Mesa’s natural gas policies, which they say favor multinational oil companies at the expense of the population.
Tapping the undeveloped oil and gas potential of the Arctic requires cooperation between nations as well as new technology, speakers told a US-Norway oil and gas summit Mar.
There is a serious move under way, led by a group of heating oil marketers and regulators, that would force a reduction in the sulfur level for distillates used for space heating.
The Committee of Sponsoring Organizations of the Treadway Commission (COSO) is a private-sector consortium formed in 1985 to fight financial-statement fraud via education and guidelines.
A systematic, integrated approach to risk identification and assessment from a portfolio perspective enables companies to implement transparent enterprise risk management (ERM) systems tailored to the oil and gas industry.
Breakthroughs in nanotechnology could provide technologies that would contribute to worldwide energy security and supply, said a science policy study from Rice University.
In the Annual Energy Outlook 2005 (AEO2005), the US Energy Information Administration (EIA) projects that LNG will play a rapidly expanding role in meeting the nation's future natural gas requirements, growing to more than 20% of total US natural gas supply in 2025 from slightly more than 2% in 2003.
