More Oil & Gas Drilling and Production News

Moody's: Uncompleted wells mean near-term weakening in proppant demand but quick rebound is possible

Jun 11, 2015

Proppant suppliers in the Bakken and other unconventional plays face deteriorating margins, cash flows, and liquidity given a declining onshore US rig count, Moody's Investors Service said in an April report.

Statoil, GE seeking innovators for ideas to reduce sand, number of truck trips to US unconventional operations

Jun 11, 2015

Statoil ASA and GE Oil & Gas are seeking outside ideas for their collaborative efforts toward developing sustainable ways, both environmentally and economically, to provide fossil fuels.

CAPP: Canadian production to reach 5.3 million b/d by 2030

Jun 11, 2015

The Canadian Association of Petroleum Producers (CAPP) estimates production of Canadian oil will increase 43% over 16 years to 5.3 million b/d by 2030 compared with 3.7 million b/d in 2014.

BLM's final fracturing rule outlines more public land regs

Jun 11, 2015

Three years after its initial proposal, the Department of Interior's Bureau of Land Management (BLM) finalized new regulations applicable to hydraulic fracturing activities on federal and tribal lands.

Utica Briefs

Jun 11, 2015

Wyoming official: BLM variance of little value to states

Jun 11, 2015

Wyoming State Oil and Gas Supervisor Mark Watson said the US Bureau of Land Management would benefit rather than the states from a variance stipulation within BLM's final hydraulic fracturing rule.

Four states sue federal government about fracturing regs

Jun 11, 2015

Wyoming filed a federal lawsuit questioning the US Bureau of Land Management's new rules for hydraulic fracturing for onshore drilling on tribal and federal public lands. The states of North Dakota, Colorado, and Utah also joined or planned to join that litigation.

Trade groups question DOI's final updated rule for hydraulic fracturing on public, tribal lands

Jun 11, 2015

Attorneys representing the Independent Petroleum Association of America and Western Energy Alliance (WEA) have filed a lawsuit in US District Court in Wyoming seeking to set aside new hydraulic fracturing regulations from the Department of the Interior.

Foster Creek resumes operations after CLAWR forest fire

Jun 11, 2015

Cenovus Energy Inc. reported on June 11 that it has resumed operations at its Foster Creek oil sands project in northern Alberta after a forest fire on the Cold Lake Air Weapons Range (CLAWR) led to a precautionary, 11-day shutdown of the operation on May 23.

CNOOC’s Dongfang 1-1 field starts first phase gas production

Jun 11, 2015

CNOOC Ltd. reported startup of natural gas production from its Phase 1 adjustment project at Dongfang 1-1 field in the South China Sea.

Hybrid generator cuts fuel use, power costs for Permian operators

Jun 11, 2015

Operators in the Permian basin and elsewhere increasingly are relying upon a hybrid generator that can eliminate the need for a third generator on land drilling rigs and can slash a company's cost for off-grid electric power, reportedly by more than half.

BP: US surpassing Saudis in oil output among world’s ‘tectonic’ energy shifts in 2014

Jun 10, 2015

An eventful 2014 in the world oil and gas markets was headlined by the US overtaking Saudi Arabia as the world’s biggest oil producer and surpassing Russia as the world’s largest producer of both oil and gas, BP PLC said in its 64th Statistical Review of World Energy released June 10.

NEB notes shift to gas-directed drilling in recent years

Jun 10, 2015

Canada’s National Energy Board says the percentage share of rigs in western Canada targeting natural gas has been on the rise since 2012. By late 2014, the majority of rigs were drilling for gas instead of oil, and in January and February of 2015, the share had increased to 62%.

Saskatchewan economic minister sees opportunities despite price environment

Jun 10, 2015

At an energy leaders breakfast during the Global Petroleum Show (GPS) in Calgary June 10, Bill Boyd, Minister of the Economy for Saskatchewan, Canada, spoke about the opportunities for the oil and gas industry in his province, even in the current price environment.

EIA: Continuing but lower global oil inventory builds expected in second half

Jun 9, 2015

Global petroleum liquids production continues to exceed consumption, resulting in inventory builds, the US Energy Information Administration said in its most recent Short-Term Energy Outlook, released this month.

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