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Hydraulic fracturing stuck in New York policy vacuum

Persistent institutional indecisiveness by elected officials in New York State has placed the state in the position of not having a statewide policy addressing the issue of energy development as it relates to hydraulic fracturing in the oil and gas industry.

Devon to raise Eagle Ford shale production by 40%

Devon Energy Corp. plans to spend nearly $1.3 billion to increase its Eagle Ford shale production nearly 40% in 2014 as the company begins full-scale development of its new position in the booming South Texas play.

BHP executive details big plans for US shale plays

Australian resource conglomerate BHP Billiton is ramping up its activity in unconventional resource plays in the US. Since entering the US shale business 3 years ago, the company has grown into one of the top producers in the Eagle Ford shale.

Barclays: North America E&P spending expected to rise 7% in 2014, led by US

Following 2 years of tepid growth, North America is poised to see an acceleration of exploration and production spending in 2014 as US operators move into full scale development of unconventional resource plays.

Fracing faces legal and regulatory challenges in 2014

Last year was an eventful one for hydraulic fracturing. Use of the completion technology helped to dramatically boost US oil and gas production—tight oil production from the Bakken and Eagle Ford formations alone increased by 700,000 b/d during the year, and gas production from the Marcellus shale jumped to 13.5 bcfd.

Fate of hydraulic fracturing uncertain in Nova Scotia

The government of Nova Scotia, Canada, was preparing in December to consider legislation that would ban the importation of hydraulic fracturing wastewater into the province.

Guernsey County lays groundwork for rising Utica shale drilling activity

When word first got out that the rural city of Cambridge, Ohio, sat atop a bounty of resources in the Utica shale, the president of the local chamber of commerce wasted no time laying the groundwork for the expected push for development.

PERMIAN Briefs

QEP to run six rigs on new Permain acreage

QEP Energy Co. expects to add four rigs this year to two already drilling on Permian basin acreage it is acquiring from EnerVest Ltd. for $950 million.

ConocoPhillips reports higher 2013 earnings, expects higher production in 2014

ConocoPhillips reported full-year earnings of $9.2 billion in 2013, an increase from the $8.4 billion totaled in 2012, which included $1.2 billion from downstream operations before the separation of Phillips 66 on Apr. 30.

Statoil, PTTEP to divide oil sands stakes

Statoil AS and PTT Exploration & Production (PTTEP) of Thailand have agreed to divide their interests in the multiarea Kai Kos Dehseh (KKD) oil sands project about 120 km south of Fort McMurray, Alta.

E&Y: Unconventional resources largest source of US oil, gas growth in 2013

Unconventional resources in the US constituted the oil and gas industry’s largest source of growth in 2013—a trend that’s expected to continue into 2014, Ernst & Young indicated in its US quarterly outlook.

Hess to sell Utica acreage for $924 million

Hess Corp. has agreed to sell 74,000 acres of its dry gas acreage in the Utica shale to an undisclosed buyer for $924 million.

Shell to sell interest offshore Brazil to Qatar Petroleum for $1 billion

Royal Dutch Shell PLC has agreed to sell 23% interest in the Parque das Conchas (BC-10) project offshore Brazil to Qatar Petroleum International for $1 billion. Shell will continue to operate BC-10 with 50% working interest.

AWE sells down Bass basin interests

AWE Ltd., Sydney, has sold down its interests in the Bass basin offshore northern Tasmania for $85 million (Aus.) in cash to Indian explorer Prize Petroleum Co. Ltd.

Market Connections

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Now Hiring: Minerals Leasing Program Manager

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Oil & Gas Conferences

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Offshore Middle East Conference & Exhibition

January 26, 2015
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