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Russia, Ukraine sign interim gas supply agreement

Oct 31, 2014

Russia and Ukraine signed a $4.6 billion agreement in Brussels that secures natural gas supplies for Ukraine and, ultimately, much of Europe through March 2015. Ukraine will be required to pay $3.1 billion in two tranches by yearend for gas it previously bought from Russia’s Gazprom under the Oct. 30 deal.

MARKET WATCH: Crude oil futures price falls, natural gas price rises

Oct 31, 2014

The New York Mercantile Exchange December crude oil contract dropped $1.08 on Oct. 30, closing at $81.12/bbl. The January 2015 contract dropped $1.06 to $80.90/bbl.

Forum: US unconventional plays still profitable at $80/bbl oil or less

Oct 31, 2014

The US currently dominates global upstream capital spending, and producers in many unconventional plays can still make a profit with futures prices for benchmark light, sweet crude oil fetching a price less than $80/bbl, a Wood Mackenzie Ltd. senior analyst told an oil breakfast forum hosted by consulting firm Decision Strategies.

Latest EIA report lists mixed impacts from higher US LNG exports

Oct 30, 2014

Increased US LNG exports would raise natural gas prices and increase production, reduce end-users’ demand, push higher total primary energy use and related carbon dioxide emissions, and modestly increase consumer expenditures for gas and the electricity it generates, according to a recent report from the US Energy Information Administration.

AEP unit to acquire Wolfcamp acreage for $726 million

Oct 30, 2014

American Energy–Permian Basin LLC (AEPB), an affiliate of Oklahoma City-based American Energy Partners LP (AEP), has completed or entered into definitive agreements with multiple parties to acquire acreage in the Wolfcamp shale of the central Midland basin, primarily in Reagan County, Tex., for $726 million.

Report for API quantifies new technologies’ 2013 US economic benefits

Oct 30, 2014

Innovations in hydraulic fracturing and horizontal drilling that have driven the energy renaissance in the US were responsible for about 48% of the nation’s crude oil production and shaved as much as 94¢/gal off of fuel prices in 2013, according to a recent report commissioned by the American Petroleum Institute.

Induced seismicity research effort identifies information gaps

Oct 30, 2014

A federally coordinated effort to determine whether oil and gas activities are related to growing reports of induced seismic activity has identified several information gaps that need to be closed, speakers said during an Oct. 30 briefing at the US Energy Association.

Hibiscus, 3D Oil close on sale of license offshore Victoria

Oct 30, 2014

3D Oil Ltd., Melbourne, has completed the sale of its interests in Victorian offshore production licence Vic/L31 to Malaysian’s Hibiscus Petroleum Bhd.


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