More Unconventional News

OTC: Robust US energy policy needed to strengthen economy, lawmaker says

May 7, 2014

Anticipated energy demand worldwide by 2050 will be such that industry will need to produce similar levels of oil and natural gas compared with today’s production levels, panelists told the Offshore Technology Conference on May 6.

Encana to acquire Eagle Ford acreage for $3.1 billion

May 7, 2014

Encana Oil & Gas Inc., a wholly owned subsidiary of Encana Corp., has reached an agreement with Freeport-McMoRan Oil & Gas LCC, a subsidiary of Freeport-McMoRan Copper & Gold Inc., to acquire 45,500 net acres in Karnes, Wilson, and Atascosa counties, part of the Eagle Ford shale in South Texas, for $3.1 billion, effective Apr. 1.

More processing, pipelines on tap for US shale plays

May 7, 2014

Shale development in the US continues to spawn support infrastructure.

Devon, Cimarex to acquire Cana-Woodford assets

May 6, 2014

Devon Energy Corp., Oklahoma City, and Cimarex Energy Co., Denver, reported entering into an acquisition scheme for assets primarily in the Cana-Woodford shale play in western Oklahoma.

Sabine, Forest sign merger agreement

May 6, 2014

Sabine Oil & Gas LLC and Forest Oil Corp. have signed a definitive merger agreement under which the companies will combine their businesses in an all-stock transaction. The combined entity will be known as Sabine Oil & Gas Corp., headquartered in Houston, and led by Sabine’s current executive management team.

OTC: Shale, deepwater development present different challenges

May 6, 2014

The oil and gas industry continues to unlock greater resources both onshore and offshore—in shale formations and in deepwater. Growing production from these areas, particularly in the US, is the product of continuous innovation and the resources contained in both will play a critical role in meeting growing global energy demand.

EIA: Marcellus gas production continues to outpace takeaway capacity

May 5, 2014

Rising production of natural gas in the Marcellus shale play in the Appalachian basin continues to outpace the growth in the region's pipeline takeaway capacity, which has led to supply backups in the region, the US Energy Information Administration reported in a weekly gas report.

Baker Hughes: US drilling rig count declines to 1,854

May 2, 2014

The US drilling rig count lost 7 units to settle at 1,854 rigs working during the week ended May 2, Baker Hughes Inc. reported.

NTSB begins investigation of Virginia crude train derailment

May 2, 2014

The National Transportation Safety Board took charge of the investigation into the Apr. 30 derailment of a train carrying crude oil in Lynchburg, Va., but it will be months before conclusions are reached and recommendations are issued, the investigator-in-charge said.

Sen. Hoeven submits updated Keystone XL approval bill

May 1, 2014

US Sen. John Hoeven (R-ND) submitted a fresh bill that would bypass the White House and congressionally approve the proposed Keystone XL crude oil pipeline’s cross-border permit.

Continental reports management changes

May 1, 2014

Continental Resources Inc., Oklahoma City, has named Gary E. Gould as senior vice-president, operations and resource development. He succeeds Richard E. Muncrief, who resigned to take the position of president and chief executive officer at Tulsa independent WPX Energy Inc.

Train carrying crude derails, catches fire in Virginia

Apr 30, 2014

A train carrying crude oil derailed Apr. 30 in Lynchburg, Va., setting 3 cars on fire, CSX Transportation announced. The fire was quickly extinguished and no injuries were reported, although some businesses and residents nearby were evacuated, it said.

PwC: US M&A activity reaches highest 1Q volume in more than a decade

Apr 30, 2014

The US oil and gas industry recorded its highest volume of first quarter mergers and acquisitions (M&A) in more than a decade, PwC US Energy Practice said in an Apr. 30 report on transactions with value greater than $50 million. The movement was a result of rising upstream activities and increased interest from foreign entities.

Whiting reshuffles management following key retirement

Apr 30, 2014

Denver independent Whiting Petroleum Corp. reported that James T. Brown, president and chief operating officer since 2011, will retire. James J. Volker, chairman and chief executive officer, will assume the additional position of president.

States to investigate whether injection wells induce seismic events

Apr 30, 2014

State oil and gas regulators and geologic surveys are forming a working group with the Interstate Oil & Gas Conservation Commission and Groundwater Protection Council to examine whether a relationship exists between injection wells and seismic events in several states, IOGCC said on Apr. 29.

Williams, Boardwalk suspend Bluegrass NGL pipeline spending

Apr 29, 2014

Williams Cos. Inc. and Boardwalk Pipeline Partners LP have suspended capital investment in their proposed Bluegrass NGL pipeline, primarily due to insufficient firm customer commitments. The companies continue to talk with potential customers regarding the scale and timing of demand for services and the firm contractual commitments needed to support any future investment.

Bakken field production reaches 1 billion bbl mark

Apr 28, 2014

Citing data from IHS, Continental Resources Inc. reported that Bakken field has surpassed 1 billion bbl of cumulative light, sweet crude oil production during this year’s first quarter.

Statoil drills, cases Southern Georgina basin exploration well

Apr 28, 2014

Statoil Australia Theta BV has successfully drilled and cased the OzAlpha-1 well in exploration permit 104 in the Southern Georgina basin of Australia’s Northern Territory.

EIA: Marcellus gas production continues to outpace takeaway capacity

Apr 25, 2014

Rising production of natural gas in the Marcellus shale play in the Appalachian basin continues to outpace the growth in the region’s pipeline takeaway capacity, which has led to supply backups in the region, the US Energy Information Administration reported in a weekly gas report.

Baker Hughes: US drilling rig count leaps to 1,861

Apr 25, 2014

The US drilling rig count jumped 30 units to reach a total of 1,861 rigs working during the week ended Apr. 25, Baker Hughes Inc. reported. The US now has 107 more rigs working compared with this week a year ago.

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