MARKET WATCH: Rising unemployment in Europe brings down oil pricesOil prices fell Apr. 30 with crude dropping 1.1% in the New York futures market after the Euro-zone reported record high unemployment of 12.1%. There also was continued concern of possible US intervention in Syria. |
Mississippi: New, lower severance tax regime creates positive cash flow for horizontal drilling projectsThe Tuscaloosa Marine shale, located along the Gulf Coast in both Louisiana and Mississippi, is underexplored. "We're in the midst of trying to develop the commercial potential of the Tuscaloosa Marine shale resource," said Doug Hock, spokesman for Encana Oil & Gas (USA) Inc. "Our focus is on reducing well costs." |
Pennsylvania's historic transformation continuesGiven the demanding schedules oil and gas professionals must maintain, it is easy to lose sight of the positive progress the industry continues to make—and what these collective efforts, aimed at safely producing clean-burning domestic natural gas, mean for the Northeastern US and the country as a whole. |
New York Marcellus development still faces hurdlesALBANY, NY—Marcellus Shale production reached 7 bcfd, surpassing the Haynesville to become the largest gas producing play in the US, according to a recent report from IHS. |
Central US briefs |
MARCELLUS/UTICA briefs |
CANADA briefs |
Other Regional briefs |
Energy Information Administration's view of shale gas, tight oil potential* |
People |
Local economies thrive from South Texas Eagle Ford growthATASCOSA COUNTY, Tex.—The University of Texas at San Antonio (UTSA) Center for Community and Business Research reported in March 2013 that Eagle Ford shale development added more than $61 billion in total economic impact during 2012. |
Fayetteville groundwater study shows no signs of contamination from recent drilling activityFAULKNER COUNTY, Ark.—In January, the USGS announced results from its year-long groundwater study in the central portion of Arkansas' Fayetteville shale. |
EAGLE FORD briefs |
Saudi oil minister says Saudis welcome US production growthSaudi Arabia is encouraged by the dramatically improved US crude oil production outlook because it could help stabilize global markets, Petroleum and Mineral Resources Minister Ali I. al-Naimi said. |
Noble Energy makes organizational and executive changesNoble Energy Inc. reorganized its executive structure to support the company’s anticipated growth over the next several years. |
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