More Oil & Gas Drilling and Production News

North Dakota flaring reduction policy may impact January production

Jul 21, 2014

North Dakota production continued to climb in May but new requirements in the state's flaring reduction plan slowed permitting activity in June and may lead to production curtailments for some operators early next year.

API releases conventional production community engagement standard

Jul 21, 2014

The American Petroleum Institute issued a new standard specifically aimed at effectively engaging with US communities affected by exploration and development of unconventional oil and gas resources.

Renouncing opportunity

Jul 21, 2014

US citizens should worry about not benefiting fully from their country's surge in oil production from unconventional resources onshore.

Baker Hughes: US drilling rig count decreases to 1,871

Jul 18, 2014

The US drilling rig count dropped 4 units to settle at 1,871 rigs working during the week ended July 18, Baker Hughes Inc. reported.

BLM director: Fee system needed for increased onshore well inspections

Jul 17, 2014

A shortage of inspectors, reduced budgets, and a record number of wells on public lands make the US Bureau of Land Management’s budget request for a fee system to increase its oil and gas inspection capacity necessary, BLM Director Neil Kornze said.

API: US petroleum demand up in June, second quarter

Jul 17, 2014

Total US petroleum deliveries, a measure of demand, rose 1.5% in June vs. a year ago to average just above 19 million b/d, according to the American Petroleum Institute’s most recent Monthly Statistics Report. For the second quarter, petroleum demand increased 1.5% compared with the same period last year.

FPSO contracts let in Brazil, Angola

Jul 15, 2014

Petroleo Brasileiro SA (Petrobras) and Sonangol P&P have let respective contracts to Saipem SPA for floating production, storage, and offloading vessels in Brazil and Angola totaling $600 million.

North Dakota flaring reduction policy may impact January production

Jul 15, 2014

North Dakota production continued to climb in May but new requirements in the state’s flaring reduction plan slowed permitting activity in June and may lead to production curtailments for some operators early next year.

NRG, JX Nippon units to build $1 billion Petro Nova CCS project

Jul 15, 2014

Units of NRG Energy Inc. and JX Nippon Oil & Gas Exploration Corp. have entered into a joint venture to build and operate Petro Nova, a carbon-capture system (CCS) in Houston. The total cost of the project is expected to be about $1 billion.

EIA conference speakers warn of US light crude oil’s ‘day of reckoning’

Jul 15, 2014

The US could find its light crude oil production growth stymied if it doesn’t allow more of it to be exported, speakers warned during the US Energy Information Administration’s 2014 energy conference’s first day.

EIA: Low-permeability formations driving Permian oil production surge

Jul 14, 2014

Crude oil production in the Permian basin has increased to 1.35 million b/d in 2013 from 850,000 b/d in 2007.

An independent Scotland

Jul 14, 2014

The next possible surprise for oil and gas producers working on the UK Continental Shelf (UKCS) is one that can be seen coming.

EIA expects higher gasoline prices for driving season, full year

Jul 14, 2014

During the April-September summer driving season this year in the US, regular gasoline retail prices will average $3.66/gal, 8¢/gal higher than last year and 4¢ higher than projected last month, according to a forecast from the US Energy Information Administration in its July Short-Term Energy Outlook (STEO).

Baker Hughes: US drilling rig count inches up to 1,875

Jul 11, 2014

The US drilling rig count reflected another uneventful week, again edging up only 1 unit to reach 1,875 rigs working during the week ended July 11, Baker Hughes Inc. reported.

BLM seeks comments on proposed carbon dioxide wells in Colorado

Jul 11, 2014

The US Bureau of Land Management’s Royal Gorge Field Office has begun a public scoping period for two proposed carbon dioxide wells near Gardner, Colo. Oxy USA, which operates the existing Sheep Mountain CO2 production unit, proposed the wells, the US Department of the Interior agency said on July 10. Comments will be accepted through July 25.

Market Connection

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PUBLIC AUCTION: Complete Liquidation of Offshore/Onshore Heavy Fabrication Facility

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