More Oil & Gas Drilling and Production News

Weak crude prices could threaten Bakken production growth

Dec 12, 2014

Bakken shale production set another record in August, but weakening crude prices and flaring reduction efforts threatened to temper production growth.

BHI: US rig count forced down by large losses in Texas

Dec 12, 2014

Forced down by large losses in Texas and specifically the Permian basin, the US drilling rig count plummeted 27 units to settle at 1,893 rigs working during the week ended Dec. 12, Baker Hughes Inc. reported. This week’s report comes on the heels of sub-$60/bbl crude oil prices on NYMEX.

Husky reports start of steam operations at Sunrise oil sands project

Dec 12, 2014

Husky Energy, Calgary, reported the start of steam operations at the in situ Sunrise Oil Sands Project in northeastern Alberta.

TAEP: TPI still peaking, but ‘contraction unavoidable’ as oil prices fall

Dec 12, 2014

The Texas Petro Index (TPI), a composite index based on a comprehensive group of upstream economic indicators released by the Texas Alliance of Energy Producers (TAEP), set well-permitting and employment records in October, resulting in another record high score overall.

Independent assessment hikes Husky heavy oil resources

Dec 12, 2014

Husky Energy Inc., Calgary, says an independent assessment increases its heavy oil resources in the Lloydminster region of Alberta and Saskatchewan.

US needs more data before ending crude export ban, House panel told

Dec 11, 2014

Much more environmental impact information is needed before the US can reasonably remove crude oil export limits, a witness told a House Energy and Commerce Committee subcommittee during a Dec. 11 hearing examining energy policies enacted nearly 40 years ago.

BOEM raises offshore oil spill liability limit to $134 million

Dec 11, 2014

The US Bureau of Ocean Energy Management increased the liability limit for oil-spill related damages from offshore operations to $134 million from $75 million. The change will go into effect in January 2015.

Stone drills successful Utica exploration well

Dec 10, 2014

Stone Energy Corp., Lafayette, La., reported that its Pribble 6HU well in Wetzel County, W.Va., flowed from a 3,605-ft lateral at 30 MMcfd during the last 24 hr of a 5-day test.

North Dakota producers face new vapor pressure standards

Dec 10, 2014

North Dakota has approved new rail transportation safety standards for crude oil that stipulate operating standards for oil-conditioning equipment at the well to separate production fluids into gas and liquid.

Goodrich considers selling Eagle Ford assets

Dec 10, 2014

Goodrich Petroleum Corp., Houston, is considering the sale of at least some of its shale assets in the South Texas Eagle Ford, the company said, adding that it plans to concentrate next year on the Tuscaloosa marine shale.

Total reorganizes E&P management

Dec 9, 2014

The E&P branch of Total SA will be restructured into five geographical divisions, an exploration division, and five functional divisions. All moves are effective Jan. 1, 2015 unless specified otherwise.

Kearl resumes oil sands production, Imperial reports

Dec 9, 2014

Imperial Oil Ltd., Calgary, has resumed production at its Kearl oil sands operations in Alberta after a precautionary shutdown due to a “vibration issue” with the plant’s ore-crusher unit.

Small subset of wells accounts for most methane emissions, researchers say

Dec 9, 2014

A small subset of natural gas wells are responsible for most methane emissions from US natural gas production, said a study from the University of Texas at Austin. Researchers cited the two major sources of methane emissions from wells as liquid unloadings and pneumatic controller equipment.

Methane controls just part of complete climate strategy, speakers say

Dec 8, 2014

Reducing oil and gas operations’ methane emissions is an essential, but far from the only, part of a comprehensive climate strategy, speakers at a Center for Strategic and International Studies event agreed. Efforts should be combined with an aggressive program to curb excessive carbon dioxide releases, they said.

ConocoPhillips slashes 2015 capital budget

Dec 8, 2014

ConocoPhillips has elected to reduce its 2015 capital budget to $13.5 billion, down 20% compared with this year’s budget. The news comes on the heels of crude oil prices hitting 5-year lows.

Market Connection

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

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