More Drilling Operations News

New regulator lists UKCS ‘priority actions’

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.

BLM moving toward strategy for Greater Sage Grouse, Jewell says

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

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

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.

UKCS report cites need for deep cost cuts

Feb 24, 2015

The struggling producing industry on the UK Continental Shelf needs deep cost cuts, according to the Oil & Gas UK’s Activity Survey 2015.

EOG Resources’ budget down 40% to $4.9-5.1 billion

Feb 20, 2015

EOG Resources Inc., Houston, plans a capital budget of $4.9-5.1 billion in 2015 including production facilities and midstream expenditures, representing a 40% reduction compared with last year’s budget.

BHI’s rig count reaches 5-year low; forecast projects more losses

Feb 20, 2015

The US drilling rig count fell 48 units—markedly fewer compared with declines in recent weeks—to settle at 1,310 rigs working during the week ended Feb. 20, Baker Hughes Inc. reported.

Noble Energy’s budget down 40% in 2015

Feb 20, 2015

Noble Energy Inc., Houston, plans to spend $2.9 billion in 2015, representing a 40% reduction from 2014. The company also reported full-year 2014 net income of $1.21 billion and adjusted income of $881 million.

Marathon revises down budget by 20%

Feb 19, 2015

Marathon Oil Corp., Houston, has reduced its capital, investment, and exploration budget for 2015 by another 20% to $3.5 billion.

Magnum Hunter slashes budget by 75%

Feb 18, 2015

Magnum Hunter Resources Corp., Houston, plans a $100 million upstream capital expenditure budget for 2015, down from the $400 the company planned for 2014.

Comments sought on Pinedale Anticline gas field noise report

Feb 18, 2015

The US Bureau of Land Management’s Pinedale Anticline Project Office (PAPO) is seeking public comments on a 2014 acoustic noise report on sound levels at 19 Greater Sage Grouse leks—places where males gather to attract females during mating season—in western Wyoming’s Pinedale Anticline natural gas field.

Ohio Supreme Court rules against municipality in oil and gas case

Feb 17, 2015

The Ohio Supreme Court ruled that the city of Munroe Falls cannot impose local drilling and zoning ordinances that conflict with Ohio state law regarding oil and natural gas activities. The high court split in a 4-3 decision with three justices providing written dissents.

BHI: US rig count continues 11-week dive, loses 98 more units

Feb 13, 2015

The US drilling rig count plunged 98 units to settle at 1,358 rigs working during the week ended Feb. 13, Baker Hughes Inc. reported.

Apache’s 2015 capital budget less than half of last year’s $8.5 billion

Feb 12, 2015

Apache Corp., Houston, plans a capital budget of $3.6-4 billion in 2015, with $2.1-2.3 billion directed toward onshore North America and $1.5-1.7 billion for international and offshore.

PNR cuts capital spending nearly in half

Feb 11, 2015

Pioneer Natural Resources Co. (PNR), Dallas, plans to spend $1.85 billion in 2015 following a fourth quarter in which the company reported a net income of $431 million. The new budget represents a 45% reduction from 2014 capital spending for continuing operations, a change attributed to low oil prices.

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