More Unconventional News

WoodMac: US tight-oil market ‘too robust to bust’

Mar 25, 2014

A drop in global oil price levels or a significant widening of the differential between global oil prices and inland realizations are just two of the ways the North American tight-oil boom could go bust, according to a recent analysis from Wood Mackenzie.

Sinopec reveals Fuling field production capacity goals

Mar 25, 2014

Sinopec plans to develop Fuling shale gas field in southwestern China to a production capacity of 10 billion cu m (bcm)/year by 2017, the company said.

IHS International: US poised to lead world exports of LPG

Mar 25, 2014

US shale gas development has the country poised to become a major global supplier of LPG, mainly to Asia, during 2015-20 with US exports outdistancing other global suppliers by the end of the forecast period.

Financial questions seen for US shale gas, tight-oil plays

Mar 25, 2014

Financial problems of operators in US shale gas and tight oil plays might hold production growth below current expectations, according to the author of a March comment published by the Oxford Institute for Energy Studies (OIES).

Baker Hughes: US drilling rig count drops to 1,803

Mar 21, 2014

After consecutive weeks of significant gains, the US drilling rig count lost 6 units to 1,803 rigs working during the week ended Mar. 21, Baker Hughes Inc. reported.

Second small diesel refinery planned for North Dakota

Mar 21, 2014

Quantum Energy Inc. (QEI), Tempe, Ariz., said it has secured land for the construction of a 20,000-b/d grassroots hydroskimming refinery in North Dakota’s Williston basin Bakken shale region.

Cenovus gets AER approval for Grand Rapids oil sands project

Mar 21, 2014

Cenovus Energy Inc. reported that it has received approval from the Alberta Energy Regulator (AER) for its wholly owned Grand Rapids thermal oil sands project 300 km north of Edmonton in the company’s Greater Pelican Region in northern Alberta.

Ivanhoe halts Tamarack oil sands project citing lack of regulatory ‘clarity’

Mar 18, 2014

Ivanhoe Energy Inc. has suspended activity on its Tamarack oil sands project pending approval for its thermal oil sands application from the government of Alberta.

Hiland looks to expand Bakken crude pipeline

Mar 18, 2014

Hiland Crude LLC has launched an open season to solicit shipper interest for crude oil transportation on an expanded version of its Double H Pipeline, currently under construction in the Bakken shale. An initial open season in 2012 filled its 50,000 b/d base capacity.

Baker Hughes: US drilling rig count jumps to 1,809

Mar 14, 2014

The US drilling rig count increased 17 units to 1,809 rigs working during the week ended Mar. 14, Baker Hughes Inc. reported. The 40-unit rise over the past 2 weeks has enabled the US the eclipse the 1,800 mark for the first time since December 2012.

Progress expands BC assets in deals totaling $1.5 billion (Can.)

Mar 13, 2014

Progress Energy Canada Ltd., a subsidiary of Malaysia’s state-owned Petronas, has closed on its acquisition of assets in northeastern British Columbia from Talisman Energy Inc. In addition, Progress will purchase Montney lands in the Julienne area, also in the northeastern part of that province.

New York county puts freeze on Bakken crude

Mar 12, 2014

Government officials in Albany County, NY, have issued a moratorium on Global Partners LP’s plans to increase the processing of Bakken crude oil at the Port of Albany pending a public health investigation by the county’s health department.

EIA: Harsh winter affected US heating expenditures, oil production

Mar 11, 2014

Worldwide liquids fuels consumption will increased by 1.2 million b/d this year and by 1.4 million b/d in 2015, according to the latest outlook from the US Energy Information Administration. In last month’s Short-Term Energy Outlook (STEO), EIA projected that global oil demand would climb by 1.3 million b/d in 2014 and 1.4 million b/d in 2015.

CAPP: Emissions monitoring Continues in Alberta oil sands

Mar 10, 2014

Alberta's oil sands producers have monitored emissions for potential public health impacts with the province's government for a while, the Canadian Association of Petroleum Producers said.

Devon, Crosstex complete merger of midstream assets

Mar 7, 2014

Devon Energy Corp., Oklahoma City, and Crosstex Energy LP, Dallas, have completed the merger of their midstream assets to form general partner EnLink Midstream LLC and master limited partnership EnLink Midstream Partners LP. A definitive agreement on the deal was signed in October 2013.

Enbridge receives NEB approval for Line 9B reversal

Mar 7, 2014

Enbridge Pipelines Inc. received permission from Canada’s National Energy Board to proceed with its Line 9B Reversal and Line 9 Capacity Expansion project. NEB approved the project with conditions, allowing Enbridge to operate all of Line 9 in an eastward direction, moving crude from western Canada and the US Bakken shale to refineries in Ontario and Quebec.

Baker Hughes: US drilling rig count spikes to 1,792

Mar 7, 2014

The US drilling rig count jumped 23 units to 1,792 rigs working during the week ended Mar. 7, Baker Hughes Inc. reported.

Southwestern Energy to acquire Niobrara acreage for liquids-rich play

Mar 7, 2014

Southwestern Energy Co., Houston, has agreed to purchase 312,000 net acres in northwest Colorado targeting oil, natural gas liquids, and natural gas in the Niobrara shale play, the company reported. Southwestern will acquire the land from Quicksilver Resources Inc. and Swepi LP, a unit of Royal Dutch Shell PLC, for $180 million.

Keystone XL national interest comments deadline approaches

Mar 6, 2014

Groups on both sides said support has grown for their positions as the US Department of State’s Mar. 7 deadline approached for comments on whether the proposed Keystone XL crude oil pipeline is in the nation’s best interest.

YPF to add 10 rigs to Vaca Muerta play

Mar 5, 2014

YPF SA has signed contracts with Helmerich & Payne Inc., Tulsa, for 10 existing drilling rigs to work in the Vaca Muerta shale play in the Nequen basin of Argentina.

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