More Oil & Gas News

Permanent monitoring enhances life of field reservoir management

Although permanent reservoir monitoring (PRM) technology is in its infancy, certain components, such as life-of-field seismic (LoFS) systems, are becoming more commonplace.

BLM to offer 270 tracts in NPR-A lease sale

The US Bureau of Land Management will offer oil and gas leases within the National Petroleum Reserve-Alaska (NPR-A) at a sale on Nov. 19 in Anchorage, BLM’s Alaska State Office said in an Oct. 3 Federal Register notice.

FourPoint, EnerVest to purchase western Anadarko basin assets for $1.95 billion

A joint venture of Denver-based startup FourPoint Energy LLC and privately held institutional affiliates of EnerVest Ltd., Houston, has agreed to acquire all of the oil and gas properties and related midstream assets in the western Anadarko basin belonging to Linn Energy LLC, Houston, for $1.95 billion, of which $975 million is net to FourPoint.

EIA: US industrial gas demand to rise 4% in 2015

Relatively low prices of natural gas have contributed to steady increases in US industrial gas consumption since 2009, especially as a feedstock for chemical production.

MARKET WATCH: Crude oil futures price up to just above $91/bbl

The New York Mercantile Exchange November crude oil contract gained 28¢ on Oct. 2, closing at $91.01/bbl, while the December contract increased 14¢ to $89.88/bbl.

MEG Energy files OSCA application with AER for Surmont oil sands project

MEG Energy Corp., Calgary, has submitted an Oil Sands Conservation Act application with Alberta Energy Regulator for its Surmont steam-assisted gravity drainage (SAGD) project.

US, UAE energy agreement to focus on five areas

A memorandum of understanding signed by the US and the United Arab Emirates will focus on five areas: energy policy formulation, energy efficiency, the energy-water nexus, carbon capture and storage, and unconventional oil and gas development.

Keyera makes executive appointments

Keyera Corp., Calgary, has appointed David Smith, currently president and chief operating officer, to the position of president and chief executive officer. He will also join the company’s board.

US should reexamine Jones Act, Tesoro’s CEO recommends

Tesoro Corp. Chief Executive Officer Gregory J. Goff called for a review of the Jones Act, a federal law dating from the 1920s that requires US-produced goods moving between US ports to do so aboard US-flagged vessels.

GeoPark enters Peru with Morona block acquisition

GeoPark Ltd. has executed a joint investment agreement and joint operating agreement with state-owned Petroleos del Peru SA (Petroperu) to acquire 75% interest in and operate the 1.9-million-acre Morona block of northern Peru. The deal is expected to close first-quarter 2015.

GWPC report examines changes in states’ water protection rules

Regulatory agencies in 27 US states that produce 98% of the nation’s oil and gas have significantly increased exploration and production oversight and rules, the Ground Water Protection Council said in a recent report.

Pertamina appoints Husen interim president director

PT Pertamina has appointed Muhamad Husen interim president director, effective Oct. 1.

MARKET WATCH: NYMEX crude oil prices fall below $91/bbl

Crude oil futures prices on the New York market settled below $91/bbl on Oct. 1 and fell below $90/bbl in early trading on Oct. 2. Meanwhile in London, Brent crude oil prices hovered around $94/bbl.

Reworked LNG export policy should consider longer term, speaker says

The US should consider how a reformed LNG exports policy could help facilitate a longer-term transition to renewable and alternative energy sources, a former US Department of State official suggested.

NGSA forecasts lower winter gas prices on a combined analysis

In its 14th annual Winter Outlook assessment of the natural gas market, the Natural Gas Supply Association (NGSA) expects downward price pressure on the natural gas market compared with last winter.

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