The US winter heating season ended Mar. 31 with 1.569 tcf of natural gas still in underground storage, “the second highest level ever,” said Robert S. Morris, Banc of America Securities LLC, New York.
The US Federal Trade Commission said it will oppose Western Refining Inc.’s planned $1.4 billion acquisition of Giant Industries Inc. because it would significantly reduce competition in northern New Mexico’s light products market.
The Interstate Oil & Gas Compact Commission has issued a guidebook cataloguing produced water data and water processing techniques used by oil and gas operators across the US.
Royal Dutch Shell PLC agreed to pay $352.6 million, plus administrative costs, to investors outside the US in a settlement related to a series of reserves writedowns.
Society of Petroleum Engineers (SPE) board members approved a new Petroleum Resources Management System, ending 2 years of collaboration by SPE, the World Petroleum Council (WPC), the American Association of Petroleum Geologists (AAPG), and the Society of Petroleum Evaluation Engineers (SPEE).
A move last month by India’s Indian Oil Corp. (IOC) and its partner Oil India Ltd. (OIL) to acquire French energy firm Maurel & Prom’s (M&P) assets in the Republic of Congo (Brazzaville) has hit a stumbling block.
Oil and gas were on the agenda when Japanese Prime Minister Shinzo Abe and Chinese Premier Wen Jiabao met in Tokyo last week seeking to build “mutually beneficial strategic ties and a steady improvement in relations.
Brazil’s state-owned Petroleo Brasileiro SA (Petrobras) and Ecuador’s state oil firm Petroecuador signed a memorandum of understanding Apr. 5 to develop Ecuador’s Ishpingo-Tiputini-Tambococha oil fields in the Amazon region.
A pilot project on a portable variable-speed-drive and load cell for obtaining counterbalance effect (CBE) data in the Duri steamflood improved the sucker-rod pumping efficiency from wells that had low lift efficiency caused by incomplete pump fill.
Last year, Sinopec improved drilling rates in the Puguang field using percussion (air) drilling and plans to increase its use in the 2007 drilling program.
A new acentric factor correlation, based on Pitzer’s1 definition of the acentric factor and a correlation of Antoine’s equation,2 accurately predicts the acentric factor of hydrocarbons and other components.
The necessary expansion and diversification of US natural gas supply sources brings with it increased exposure to political and economic risks that could cause this supply to be interrupted.
