More Oil & Gas News

MARKET WATCH: Crude oil futures price trends higher at week’s end

The crude oil futures contract trended higher at the close of the week ended Apr. 11.

EIA: LNG shows potential as a railroad fuel

Continued growth in US natural gas production and substantially lower gas prices compared with crude oil prices lead to strong potential for fueling freight locomotives with LNG, according to the US Energy Information Administration’s Annual Energy Outlook 2014 (AEO2014).

Senate leaders ask EIA for detailed look at crude export impacts

US Senate Energy and Natural Resources Committee leaders asked the Energy Information Administration to conduct a more extensive analysis of possible consequences from lifting or easing the ban on exporting domestically produced crude oil.

Anadarko settles legacy claims against Kerr-McGee for $5.15 billion

Anadarko Petroleum Corp. and subsidiaries it acquired when it bought Kerr-McGee Corp. in 2006 agreed to pay $5.15 billion to settle fraudulent conveyance allegations brought by the US government and co-plaintiff Anadarko Litigation Trust in the bankruptcy of Tronox Inc.

Greenland in transition

USCG: 'Chain of errors' led to Shell drilling unit running aground

A US Coast Guard (USCG) investigation has found that a "chain of errors" led to the Royal Dutch Shell PLC conical drilling unit, the Kulluk, running aground on Sitkalidak Island, Alas., in December 2012.

IEA: Global oil supplies plunge in March on lower OPEC output

Global crude oil supplies fell month-on-month in March by a steep 1.2 million b/d to 91.75 million b/d, with a decline in output from members of the Organization of the Petroleum Exporting Countries accounting for near 75% of the loss, according to the International Energy Agency’s most recent Oil Market Report.

MARKET WATCH: Crude oil futures prices slide in week’s see-saw market

The New York Mercantile Exchange May crude oil contract price was down 20¢ on Apr. 10, closing at $103.40/bbl. The June contract fell 27¢ to $102.38/bbl.

ConocoPhillips raises estimates on Eagle Ford recoverable resources, production

ConocoPhillips has increased its estimated resource base in the Eagle Ford play to 2.5 billion bbl of oil in place from 1.8 billion bbl, as well as its estimated production from current volumes to more than 250,000 boe/d by 2017.

Environmental groups to challenge FWS’s lesser prairie chicken ruling

Three environmental organizations notified the US Fish and Wildlife Service that they plan to sue over the US Department of the Interior agency’s recent designation of the lesser prairie chicken as a threatened—but not endangered—species.

Heitkamp leads Senate Democrats’ new push for Keystone XL approval

Ten other US Senate Democrats joined Heidi Heitkamp (ND) in urging US President Barack Obama to approve the proposed Keystone XL crude oil pipeline by May 31.

Proved reserves of US crude oil reach 36-year high in 2012

US proved reserves of crude oil at yearend 2012 were estimated at 33.4 billion bbl, up 15.4% from 2011 and the highest since 1976, according to a report released Apr. 10 by the US Energy Information Administration.

MARKET WATCH: Crude oil futures rise on Libya, Ukraine concerns

Crude oil futures prices reached a 5-week high on the New York market Apr. 9 amid continued uncertainty about apparent delays in an anticipated resumption of Libyan oil exports and continued political uncertainty regarding Ukraine, analysts said.

FRA to propose requiring two-member crews on trains carrying crude

The Federal Railroad Administration (FRA) plans to propose requiring trains transporting crude oil to have at least two crew members, the US Department of Transportation agency announced. It said it also intends to propose a train securement rule and recommend a rulemaking on hazardous materials movement.

CNPC, Shell strengthen global cooperation

China National Petroleum Corp. (CNPC) and Royal Dutch Shell PLC have reached an agreement to deepen their strategic partnership by increasing cooperation in the development of both companies’ global projects.

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STATE OF IDAHO NOTICE OF SALE OF OIL AND GAS LEASES

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