More Oil & Gas Drilling and Production News

Five fatalities, four missing now confirmed following FPSO explosion offshore Brazil

Feb 12, 2015

BW Offshore now reports five fatalities—all employees of BW Offshore—and four crew members missing following the Feb. 11 explosion of the Cidade de Sao Mateus floating production, storage, and offloading vessel.

BW Offshore confirms fatalities after FPSO vessel explosion

Feb 11, 2015

Natural gas production has been halted following an explosion that occurred shortly after midday Feb. 11 onboard a floating production, storage, and offloading vessel operating in Espirito Santos basin about 120 km offshore Brazil.

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.

Study finds FLNG scheme ‘viable’ for Pandora field development

Feb 11, 2015

A recent study has found that Cott Oil & Gas Ltd’s plans to use a floating LNG (FLNG) vessel for development of Pandora gas field in the Gulf of Papua are technically and commercially viable.

EIA: US gasoline prices to average $1/gal less in 2015 vs. 2014

Feb 10, 2015

US regular gasoline retail prices are expected to average $2.33/gal in 2015, down from $3.36/gal in 2014, according to the Energy Information Administration’s (EIA) latest Short Term Energy Outlook (STEO).

Continental Resources completes more Springer wells

Feb 10, 2015

Wells competed by Continental Resources Inc. last year reaffirmed the repeatability and growth potential of the Springer play in South Central Oklahoma Oil Province (SCOOP), said Harold G. Hamm, Continental chairman and chief executive officer.

New York state decides to ban hydraulic fracturing

Feb 10, 2015

New York state officials planned in 2015 to officially ban high-volume hydraulic fracturing, which would end a temporary moratorium that has existed in the state for years pending studies on the possible health consequences of fracturing in the Marcellus shale.

Maryland moves forward on fracturing regulations

Feb 10, 2015

Maryland state officials planned to draft regulations that would allow hydraulic fracturing in the Marcellus shale in West Maryland provided that natural gas producers abide by certain stipulations limiting the risks of water contamination and air pollution.

Fracturing becoming a common municipal ballot item

Feb 10, 2015

Various municipalities, including Denton, Tex., have banned or sought to ban hydraulic fracturing through ballot issues while some states such as New York have imposed moratoriums, citing environmental issues or health concerns.

WoodMac: Eagle Ford production tops 1 billion bbl

Feb 10, 2015

Analysts forecast increasing unconventional US production during 2015 with one of the prolific plays being the Eagle Ford shale in South Texas.

Accenture: Eagle Ford operators cut costs with integrated planning, better logistics

Feb 10, 2015

Accenture examined the importance of integrated planning and logistics as a way to save money for operators in the South Texas Eagle Ford, a region that the unconventional oil and gas industry already considers as a model for the manufacturing approach.

Texas A&M studies water used for Eagle Ford fracturing

Feb 10, 2015

Development of unconventional plays led to a rapid proliferation of the use of hydraulic fracturing, which has boosted US production rates. Yet, fracturing remains under intense scrutiny for various reasons, including water usage.

Comment: Beware of break-even and marginal-cost analyses

Feb 10, 2015

Shale oil and gas productivity and costs vary dramatically among the different areas of a shale formation, and the difference between owning the best acreage or the worst is what makes winners and losers.

ND bills would expand Industrial Commission, void flaring rule, vapor-pressure standards

Feb 10, 2015

Republican lawmakers in North Dakota have initiated legislation that would bring already-established rules on reduced gas flaring and on oil conditioning standards for crude produced from the Bakken, Three Forks, and Sanish formations back into the statehouse.

Unconventional plays continue driving US production

Feb 10, 2015

Output from unconventional projects is expected to account for much of the anticipated US production growth during 2015 although falling crude oil prices could trigger a slower production pace than some forecasters suggested months ago.

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