More Unconventional News

BP Energy Outlook projects global energy demand to jump 37% by 2035

Feb 17, 2015

Global demand for energy is expected to rise by 37% from 2013 to 2035, or by an average of 1.4%/year, due in large part to ongoing economic expansion in Asia, particularly in China and India, according to the latest BP Energy Outlook 2035.

Devon reduces capital budget by 20% in 2015

Feb 17, 2015

Devon Energy Corp., Oklahoma City, plans an exploration and production capital budget of $4.1-4.4 billion in 2015, representing a 20% decline compared with 2014.

Ohio Supreme Court rules against municipality in oil and gas case

Feb 17, 2015

The Ohio Supreme Court ruled that the city of Munroe Falls cannot impose local drilling and zoning ordinances that conflict with Ohio state law regarding oil and natural gas activities. The high court split in a 4-3 decision with three justices providing written dissents.

Derailed West Virginia oil train carried Bakken crude

Feb 17, 2015

A large-scale cleanup and investigation have launched following the Feb. 16 derailment of a CSX crude oil train near Mount Carbon, W.Va.

North Dakota December oil production topped 1.2 million b/d

Feb 17, 2015

Preliminary oil and gas production figures for December 2014 show 1.16 million b/d in oil production from the Bakken and Three Forks formations and 63,992 b/d from legacy conventional pools, the North Dakota Department of Mineral Resources reported.

Phillips 66 Partners to buy pipeline systems’ interests for $1 billion

Feb 16, 2015

Phillips 66 Partners LP has reached agreement with Phillips 66 to acquire Phillips 66’s interests in three pipeline systems for a total of $1.01 billion.

EPA offers new, twisted excuse to stall Keystone XL

Feb 16, 2015

Anyone puzzled by the delay in approval of the Keystone XL pipeline border crossing-running 6 years now, and counting-should read the Obama administration's latest rationale.

Deloitte studies oil supply growth for 2015-16

Feb 16, 2015

A Deloitte MarketPoint analysis suggested large-field projects, each producing more than 25,000 b/d, could bring on 1.835 million b/d in oil supply this year, of which 635,000 b/d would be from members of the Organization of Petroleum Exporting Countries and the rest from non-OPEC production.

BHI: US rig count continues 11-week dive, loses 98 more units

Feb 13, 2015

The US drilling rig count plunged 98 units to settle at 1,358 rigs working during the week ended Feb. 13, Baker Hughes Inc. reported.

Apache’s 2015 capital budget less than half of last year’s $8.5 billion

Feb 12, 2015

Apache Corp., Houston, plans a capital budget of $3.6-4 billion in 2015, with $2.1-2.3 billion directed toward onshore North America and $1.5-1.7 billion for international and offshore.

Groups object to White River National Forest draft leasing decision

Feb 12, 2015

The Western Energy Alliance, West Slope Colorado Oil & Gas Association, and Public Lands Advocacy jointly filed a formal objection to the US Forest Service’s draft oil and gas leasing decision for the White River National Forest in western Colorado.

TransCanada challenges EPA’s comments on Keystone XL SEIS

Feb 11, 2015

TransCanada Corp. responded to the Feb. 2 comment letter from the US Environmental Protection Agency on the US Department of State’s final supplemental environmental impact statement (SEIS) for the Keystone XL crude oil pipeline.

PNR cuts capital spending nearly in half

Feb 11, 2015

Pioneer Natural Resources Co. (PNR), Dallas, plans to spend $1.85 billion in 2015 following a fourth quarter in which the company reported a net income of $431 million. The new budget represents a 45% reduction from 2014 capital spending for continuing operations, a change attributed to low oil prices.

EIA: US gasoline prices to average $1/gal less in 2015 vs. 2014

Feb 10, 2015

US regular gasoline retail prices are expected to average $2.33/gal in 2015, down from $3.36/gal in 2014, according to the Energy Information Administration’s (EIA) latest Short Term Energy Outlook (STEO).

FERC approves Constitution pipeline to move Marcellus gas northeast

Feb 10, 2015

The Marcellus and Utica natural gas plays have made headlines for years, but moving the gas to end users to the East has not been easy due to a limited pipeline capacity.

Marcellus briefs

Feb 10, 2015

Pennsylvania contemplates tax hikes to fix $2 billion deficit

Feb 10, 2015

A severance tax on unconventional natural gas development and production is likely to be part of Pennsylvania Gov. Tom Wolf's scheduled Mar. 10 budget address.

Utica briefs

Feb 10, 2015

Continental, South Korean firm to jointly develop northwest Cana Woodford

Feb 10, 2015

Continental Resources Inc., Oklahoma City, formed a joint venture with a wholly owned US subsidiary of SK E&S Co. Ltd. to jointly develop 44,000 net acres of Continental's northwest Cana Woodford natural gas assets, primarily in Blaine and Dewey counties, Okla.

Continental Resources completes more Springer wells

Feb 10, 2015

Wells competed by Continental Resources Inc. last year reaffirmed the repeatability and growth potential of the Springer play in South Central Oklahoma Oil Province (SCOOP), said Harold G. Hamm, Continental chairman and chief executive officer.

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