More Oil & Gas News

Mexico accelerates energy reform efforts

Mexico’s Petroleos Mexicanos (Pemex) faces the task of determining areas where it wants to bring in partners under the sweeping energy reform that President Enrique Pena Nieto signed into law to open Mexico’s oil and gas exploration and production to private and foreign companies for the first time since 1938.

DOE finalizes LNG export national interest review reforms

The US Department of Energy finalized reforms it proposed on May 29 to its process for determining whether planned LNG export projects are in the national interest.

MARKET WATCH: Crude oil futures prices fall amid ‘slowing’ global demand

Futures prices for West Texas Intermediate crude fell again Aug. 14, heading for the fourth weekly decline in a row, noted analysts with Raymond James & Associates Inc. WTI crude prices fell, RJA analysts said, “amid a growing market sense that supply is expanding as global demand slows.”

EPA extends comment period for proposed refinery regulations

The US Environmental Protection Agency has extended the public comment period by 60 days for its proposed rule that would force petroleum refiners to implement additional controls on toxic air emissions from their refineries.

Shell reshuffles US shale assets in two major deals

Royal Dutch Shell PLC has agreed to two separate transactions in which it will exit its Pinedale and Haynesville onshore gas assets in exchange for $2.1 billion in cash and acreage in the Marcellus and Utica shale regions.

Rex Energy to acquire Marcellus, Utica acreage

Rex Energy Corp., State College, Pa., has agreed to acquire 100% interest in 208,000 gross acres prospective for the Marcellus, Upper Devonian-Burkett, and Utica shales in Pennsylvania and Ohio from Swepi LP, an affiliate of Royal Dutch Shell PLC, for $120 million in cash. The transaction is expected to close in September.

MARKET WATCH: Brent crude oil futures snap losing streak

Oil prices rose modestly on the New York market Aug. 13 while oil prices ended a 3-day losing streak on the London market by rallying more than $1/bbl.

People

American Energy Partners LP has hired Jeffrey L. Mobley to serve as senior vice-president, major acquisitions.

EPA hydraulic fracturing study may be prelude to new federal rules

Oil and gas operations have historically been regulated mainly at the state level, though the expansion of hydraulic fracturing activities has brought with it an expansion in the number and sources of regulations facing operators.

Marcellus/Utica Briefs

Chesapeake Energy leads the pack in Utica

Chesapeake Energy Corp., operator of the largest acreage position in the Utica shale, has this year set an ambitious development program that calls for doubling production from the play to more than 100,000 boe/d.

Marathon tests water conservation, downspacing in Bakken

Marathon Oil Corp. is seeking to reduce the environmental impact of operations in the Bakken shale by reducing the amount of water used during hydraulic fracturing and testing wastewater recycling techniques.

Investors watch, wait as Mexico finalizes details of energy reform

For Mexico, constitutional reform was just the first step in the long process of opening up its energy industry to outside investment.

EIA: July Brent prices drop on reduced market risk

In the August issue of its Short-Term Energy Outlook (STEO), the US Energy Information Administration maintains its 2014 US liquid fuels consumption forecast at 18.88 million b/d as projected in July compared with 18.89 million b/d in 2013. The 2015 consumption is set at 18.98 million b/d, 30,000 b/d higher than projected in last month’s STEO.

Canada Briefs

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