More Unconventional News

Study estimates impacts if Delaware River basin fracing bans were lifted

Aug 17, 2015

Up to 4,000 more natural gas wells on 500-1,000 well pads within the Delaware River basin could be drilled if hydraulic fracturing moratoriums there and in New York state were lifted, a CNA Corp. report estimated on Aug. 11.

Watching Government: Utah copes with low oil price

Aug 17, 2015

Utah's oil and gas activity, while not as large as some states, has taken similar hits since crude prices plunged from $100/bbl in mid-2014 to about $45/bbl in early August.

PwC: Midstream boosts 2Q M&A activity in oil, gas industry

Aug 17, 2015

The US oil and gas industry experienced an uptick in second-quarter mergers and acquisitions compared with the first quarter, facilitated by heightened interest in midstream deals, according to a quarterly report of announced US transactions with value greater than $50 million.

EIA: US crude output declines to continue through mid-2016

Aug 17, 2015

Total US crude oil production declined 100,000 b/d in July compared with June, and is expected to continue decreasing through mid-2016 before growth resumes late in 2016, according to the US Energy Information Administration's most recent Short-Term Energy Outlook (STEO).

Addressing shale risks

Aug 17, 2015

Risks associated with shale development and production garner much negative publicity, and industry response has been uneven depending upon operator size, although continuous improvement efforts are under way, said a report from Harvard Business School and the Boston Consulting Group.

BHI: US oil rig count continues rise, but overall count unchanged

Aug 14, 2015

The overall US drilling rig count sat unchanged during the week ended Aug. 14, remaining at 884 rigs working, according to data from Baker Hughes Inc. Oil-directed rigs, however, continued their warm streak—albeit modestly—with a 2-unit gain.

Pennsylvania’s DEP issues draft final revisions to well site rules

Aug 13, 2015

Pennsylvania’s Department of Environmental Protection (PDEP) released draft final revisions to its oil and gas well protection standards. The state agency decided not to include provisions for noise mitigation and centralized storage tanks for wastewater in the final regulations following the latest round of public comments, it said.

Meritage building oil, gas infrastructure in western Canada

Aug 13, 2015

Meritage Midstream Services III LP, the Canadian affiliate of Denver-based Meritage Midstream Services, has agreed with producer Canadian International Oil Corp. to build natural gas gathering, compression, and processing assets and crude oil gathering assets to support the development of CIOC’s Montney and Duvernay shale positions in west-central Alberta.

MarkWest, EMG to develop 2-bcfd Utica dry gas gathering system

Aug 13, 2015

MarkWest Energy Partners LP and The Energy & Minerals Group (EMG) are developing a new 2-bcfd dry gas gathering system in the Utica Shale. A fee-based contract with Ascent Resources – Utica LLC, a subsidiary of Ascent Resources LLC will underpin the system, dedicating roughly 100,000 gross acres in northern Belmont and Jefferson counties, Ohio.

Howard Energy moves forward with construction plans for Nueva Era pipeline

Aug 13, 2015

A joint venture of Howard Midstream Energy Partners LLC and Mexico-based energy and services firm Grupo Clisa will move forward with construction plans for the Nueva Era pipeline following a successful open season.

CERI: Lower demand, prices may trim near-term oil sands spending

Aug 12, 2015

Lower crude oil prices and reduced demand resulting from a global economic downturn could reduce Canadian oil sands capital expenditures through 2017, the Canadian Energy Research Institute said. Production and capital outlays still are expected to increase well into the future, it emphasized in its latest Oil Sands Supply Update.

Lower oil prices have strengthened the role of unconventional in upstream portfolios

Aug 12, 2015

When oil prices went into free fall in the fourth quarter of 2014, the question on everyone's mind was whether US unconventional development would slow down.

Volker: Whiting Petroleum rigged to run and prosper at $50-60/bbl oil

Aug 12, 2015

Whiting Petroleum Corp. has positioned itself to make money at $50-60/bbl oil, said James Volker, Whiting chief executive officer, adding he believes the company can prosper at current oil prices and still boost production.

Study estimates impacts if Delaware River basin fracing bans were lifted

Aug 12, 2015

Up to 4,000 more natural gas wells on 500-1,000 well pads within the Delaware River basin could be drilled if hydraulic fracturing moratoriums there and in New York state were lifted, a CNA Corp. report estimated on Aug. 11.

Japanese delegation tours Freeport LNG, Eagle Ford field

Aug 12, 2015

A delegation from the Consulate General of Japan in Houston toured Freeport LNG Development LP in Quintana, Tex., visited a Lavaca County field in the South Texas Eagle Ford shale, and stopped in San Antonio, the City of San Antonio International Relations Office confirmed.

Magnum Hunter near closing Utica JV with private equity fund

Aug 12, 2015

Magnum Hunter Corp., Houston, filed US Securities and Exchange Commission documents indicating a tentative letter of intent for a Utica shale joint venture involving an undisclosed private equity fund for $430 million.

ExxonMobil lets contract for Texas refinery expansion

Aug 12, 2015

ExxonMobil Corp. has let a contract to Jacobs Engineering Group Inc., Pasadena, Calif., to provide engineering, procurement, and construction management (EPCM) services for a planned 20,000-b/d capacity expansion at the company’s 345,000-b/d refinery in Beaumont, Tex.

Enterprise Products Partners acquires Eagle Ford midstream assets from Pioneer Natural Resources, Reliance Industries Ltd. for $2.15 billion

Aug 12, 2015

Enterprise Products Partners LP (EPP), Houston, executed agreements to purchase all interests in EFS Midstream LLC from affiliates of Pioneer Natural Resources Co., Irving, Tex., and Reliance Industries Ltd., Mumbai, for $2.15 billion.

Hess forms Bakken midstream joint venture with Global Infrastructure Partners, includes gas processing, rail terminals, propane storage

Aug 12, 2015

Global Infrastructure Partners (GIP), a private equity firm, agreed to acquire 50% interest in Bakken midstream assets from Hess Corp. for $2.7 billion and to form a 50-50 midstream joint venture named Hess Infrastructure Partners (HIP).

WPX plans to resume Williston basin completions, boost rig count

Aug 12, 2015

WPX Energy of Tulsa cited lower well costs and a 25% increase in estimated ultimate recovery rates as it vowed to increase its activity in the Williston basin during the second half by resuming completions and increasing its rig count to three from one rig by Dec. 31.

Stay Connected