More Oil & Gas Drilling and Production News

EPA draft assessment finds no widespread harm to drinking water from fracturing

Jun 15, 2015

The US Environmental Protection Agency released a draft assessment June 4 of a study in which it concluded hydraulic fracturing activities have not led to widespread, systemic impacts on drinking water resources, although the agency said potential water vulnerabilities exist.

E&Y: US firms' capex, revenues, reserves up again in 2014, but cuts loom

Jun 15, 2015

US oil and gas companies reported increases across the board in capital expenditures, revenues, and reserves in 2014 as oil prices nearly halved during the second half, according to an annual oil and gas reserves study conducted by Ernst & Young unveiled in Houston on June 3.

OGJ Newsletter

Jun 15, 2015

BHI: US rig count continues fall in 27th straight week

Jun 12, 2015

The US drilling rig count declined 9 units during the week ended June 12 to settle at 859 rigs working, according to data from Baker Hughes Inc.

Texas Legislature, Gov. Abbott limit municipal control over fracturing

Jun 12, 2015

Texas Gov. Greg Abbott has signed a bill to prevent municipalities from banning hydraulic fracturing in a move that was expected after the city of Denton last year approved a referendum to prohibit fracturing within Denton city limits.

Study: Pennsylvania gas severance tax would reduce Marcellus horizontal drilling

Jun 12, 2015

A proposed natural gas severance tax in Pennsylvania would have negative economic consecutives, reducing the number of horizontal gas wells drilled and increasing job losses, said a Natural Resource Economics Inc., study released by the Associated Petroleum Industries of Pennsylvania (API-PA).

RJA: US rig count recovery will be led by three core unconventional plays

Jun 12, 2015

Raymond James & Associates revised its US rig count forecast, noting it expects a 2016 recovery will be disproportionately weighed toward horizontal drilling units in three shale plays: the Permian, Eagle Ford, and Bakken.

North Dakota ordered five firms to reduce April oil production

Jun 12, 2015

North Dakota oil and gas regulators ordered five companies to reduce their April oil production to 100 b/d on certain wells or face potential daily penalties for violating the North Dakota Industrial Commission enforcement policy on gas flaring.

Statoil lets carbon dioxide contract for Bakken pilot

Jun 12, 2015

Statoil has let a major carbon dioxide supply and service agreement to Ferus LP of Denver to supply liquid CO2 to be used in a test well to evaluate potential production uplift and partially replace water in a large multistage hydraulic fracturing operation in a horizontal oil well.

Study outlines policy strategy for unconventional development

Jun 12, 2015

Unconventional oil and gas presents perhaps the single largest opportunity to improve the trajectory of the US economy, according to a report released by Harvard University Business School (HBS) and Boston Consulting Group Inc. (BCG).

IEA: Global oil demand rising on economic recovery, lower oil prices

Jun 11, 2015

According to the International Energy Agency’s most recent Oil Market Report, global oil demand averaged 93.3 million b/d in this year’s first half, up 1.6 million b/d on the year and 400,000 b/d above the estimate in last month’s report. Global demand for the whole year is forecast to average 94 million b/d, 1.4 million b/d up on the year and 300,000 b/d higher than in last month’s OMR.

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.

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