More Oil & Gas Drilling and Production News

Investors watch with interest as Mexican energy reform unfolds

Sep 29, 2014

Mexico is implementing key aspects of its energy reform more quickly than some observers had expected. So far this year, the country has passed 21 new and amended laws relating to the sector and selected the oil and gas fields that will be placed on the block in the country's first competitive upstream bid round, set for mid-2015.

Senate adopts bill making BLM drilling permit pilot program permanent

Sep 29, 2014

The US Senate approved Tom Udall (D-NM) and John Barrasso's (R-Wyo.) bill permanently extending a US Bureau of Land Management drilling permit processing improvement pilot program that was established under the 2005 Energy Policy Act. It was scheduled to expire in 2015.

Watching Government: Smaller study, big early findings

Sep 29, 2014

It may not have had the snap and sizzle of a study the National Academy of Sciences released the same day, but a report the US Department of Energy unveiled on Sept. 15 also put to rest concerns about natural gas from deep hydraulically fractured wells migrating upward into drinking water supplies.

BP denies Trinidad and Tobago gas shortage direct result of lower production, maintenance

Sep 26, 2014

BP PLC has denied that the recent gas shortage in Trinidad and Tobago is the primary result of insufficient gas production or the company’s own heightened maintenance activity.

BHI: US drilling rig count unchanged for second straight week

Sep 26, 2014

For a second consecutive week the US drilling rig count was unchanged at 1,931 rigs working during the week ended Sept. 26, Baker Hughes Inc. reported.

Statoil postpones Corner development at KKD oil sands project in Alberta

Sep 26, 2014

Statoil ASA has decided to postpone for a minimum of 3 years the Corner development at the Kai Kos Dehseh (KKD) oil sands project in northern Alberta. A staff reduction of about 70 employees is expected.

Fort Hills lets $1.3 billion contract for oil sands project

Sep 24, 2014

The Fort Hills Energy LP consortium has let a $1.3 billion engineering, procurement, fabrication, and construction contract to Fluor Corp. for the utilities scope of the Fort Hills oil sands mining project, 90 km north of Fort McMurray, Alta., in the Athabasca region.

Investors watch with interest as Mexican energy reforms unfold

Sep 23, 2014

Mexico is implementing key aspects of its energy reform more quickly than some observers had expected. So far this year, the country has passed 21 new and amended laws relating to the sector and selected the oil and gas fields that will be placed on the block in the country’s first competitive upstream bid round, set for mid-2015.

EIA: Higher Permian production, insufficient pipelines hike WTI oil hub spreads

Sep 23, 2014

Crude oil prices in the Permian basin at Midland, Tex., have been falling below similar crude priced at Cushing, Okla., due to increasing production in the area and insufficient pipeline systems to move the crude to refineries, according to an analysis of the US Energy Information Administration.

BSEE proposes helicopter safety rules for fixed offshore platforms

Sep 23, 2014

The US Bureau of Safety and Environmental Enforcement is seeking public comments on a proposed rule aimed at improving safety of helideck and aviation fuel operations on fixed offshore facilities.

WoodMac: EOR could boost US tight oil output 3 million b/d by 2030

Sep 23, 2014

Additional volumes from enhanced oil recovery (EOR) slated to come on stream after 2020 could boost tight oil production in the US by 1.5-3 million b/d by 2030, up to 25% more oil than is being forecasted today, according to analysis from Wood Mackenzie.

Range agrees to pay $4.15 million to settle Pennsylvania DEP charges

Sep 22, 2014

Range Resources Corp., Fort Worth, has agreed to pay a $4.15 million fine, close five impoundments, and upgrade two others at its Washington County operations, Pennsylvania’s Department of Environmental Protection (DEP) reported. The fine is the biggest against an oil and gas producer in the state’s shale drilling era, the agency said on Sept. 18.

Statoil installs compressors to extend North Sea fields’ lives

Sep 22, 2014

Faced with falling reservoir pressures, Statoil ASA is installing compressors in the Norwegian North Sea to extend field lifetimes and produce an extra 1.2 billion boe.

Study finds bad well construction, not fracing, fouled water wells

Sep 22, 2014

Fugitive methane found in water wells above the Marcellus and Barnett shales came from poor well construction, not hydraulic fracturing, a study the National Academy of Sciences released on Sept. 15 concluded.

It's clearly time to end US crude export ban, Summers declares

Sep 22, 2014

Lawrence H. Summers, who was US Treasury Secretary during Bill Clinton's presidency and was President Barack Obama's National Economic Council Director, said there are no significant reasons for the US to continue restricting exports of domestically produced crude oil.

Market Connection

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