More Unconventional News

Gulfport: Utica shale accounts for 97% of overall net 2Q production

Jul 30, 2015

Gulfport Energy Corp., Oklahoma City, reported its second-quarter Utica shale production in Ohio accounted for 97% of its overall net production compared with 79% a year earlier.

Encana books impairment charge, maintains 2015 budget

Jul 27, 2015

Encana Corp., Calgary, reported a $1.3 billion impairment charge for the second quarter, which executives said reflected a decline in oil and natural gas reserves values because of lower commodity prices. Overall Encana reported a second-quarter loss of $1.6 billion.

First bidding round showed Mexico reform challenges, House panel told

Jul 27, 2015

An apparently disappointing first round of bids for oil and gas exploration rights revealed problems that require attention if Mexico’s dramatic energy policy reforms are to succeed, witnesses told a US House Foreign Affairs Committee subcommittee (OGJ Online, July 16, 2015).

MPLX, MarkWest to merge in $15.8 billion deal

Jul 27, 2015

MPLX LP, a Findlay, Ohio-based master limited partnership (MLP) formed by Marathon Petroleum Corp. in 2012, and Denver-based MarkWest Energy Partners LP have agreed to a unit-for-unit merger deal in which MarkWest will become a wholly owned subsidiary of MPLX.

URTeC: Unconventional innovation begins with data, investment

Jul 27, 2015

Operators should resist the impulse to pull back on investments in technology despite a down oil market, said Claudia J. Hackbarth, manager, unconventional gas and tight oil research and development, Shell International E&P Inc. during a July 20 luncheon speech at the Unconventional Resources Technology Conference (URTeC) in San Antonio. "Innovation is needed now more than ever."

The oil sand moose

Jul 27, 2015

Imagine a document entitled Canadian Energy Strategy in which the world "bitumen" does not appear. Or the phrase "oil sands." To be fair, the strategy produced by a committee of provincial premiers does acknowledge Canada's prominent place in global oil supply. But the emphasis is skewed.

OGJ Newsletter

Jul 27, 2015

International news for oil and gas professionals

EQT reports high IP from Utica dry gas well

Jul 24, 2015

EQT Corp., Pittsburgh, said a deep, dry gas Utica well averaged 72.9 MMcfd with an average flowing casing pressure of 8,641 psi during a 24-hr deliverability test. The well was completed using a 18-stage fracturing job and a 3,221-ft lateral.

EPA needs to improve oversight of fracing with diesel, OIG report says

Jul 20, 2015

The US Environmental Protection Agency needs to improve its oversight of hydraulic fracturing using diesel fuels and address any compliance issues, EPA’s Office of Inspector General (OIG) said. The agency also needs to take further steps in its May 2014 plan to determine whether a federal requirement to publicly disclose frac fluid ingredients is necessary, OIG said in a July 16 report.

URTeC: Shell’s Hackbarth says unconventional innovation begins with data

Jul 20, 2015

Operators should resist the impulse to pull back on investments in technology despite a down oil market, said Claudia J. Hackbarth, manager, unconventional gas and tight oil research and development, Shell International E&P Inc. during a July 20 luncheon speech at the Unconventional Resources Technology Conference (URTeC) in San Antonio. “Innovation is needed now more than ever.”

URTeC: Panel sees resiliency in unconventional space

Jul 20, 2015

Panelists commented on future recovery of oil prices and the growth of unconventional drilling, then took questions from an overflow audience during the opening plenary session of the Unconventional Resources Technology Conference (URTeC) in San Antonio July 20.

OGJ Newsletter

Jul 20, 2015

International news for oil and gas professionals

BHI: US rig count falls 6 units to 857

Jul 17, 2015

The US drilling rig count fell 6 units to reach 857 during the week ended July 17, essentially cancelling out the last 3 weeks’ worth of gains, according to data from Baker Hughes Inc.

Husky begins production at Rush Lake heavy oil project

Jul 17, 2015

Husky Energy Inc., Calgary, reported startup of production from its Rush Lake heavy oil thermal project in Saskatchewan, some 8 weeks after startup of commercial steaming operations (OGJ Online, May 21, 2015).

ConocoPhillips plans further capex reduction for deepwater exploration

Jul 16, 2015

ConocoPhillips reported plans to further reduce its capital expenditures for deepwater exploration, with the “most significant reductions” coming from its operated program in the Gulf of Mexico. The company did not specify by how much capex would be decreased, however.

KMI brings second Texas condensate splitter online

Jul 15, 2015

Kinder Morgan Inc., Houston, has commissioned the second of two splitters at the company’s new petroleum condensate processing facility located near its Galena Park terminal along the Houston Ship Channel.

Group starts radio frequency pilot for oil sands at Dover in Alberta

Jul 15, 2015

The first radio frequency pilot for oil recovery within an in situ reservoir is under way in the Dover area north of Fort McMurray, Alta. In a test that will last about 2 years, radio frequency technology will heat the reservoir to ease the movement of bitumen to the surface.

WPX Energy to buy privately held RKI E&P in $2.35 billion deal

Jul 15, 2015

WPX Energy Inc. agreed to buy privately held RKI Exploration & Production LLC of Oklahoma City for $2.35 billion in a move intended to help WPX produce more oil as the Tulsa independent shifts its focus from natural gas to oil.

EIA: US shale oil production to fall 91,000 b/d in August

Jul 13, 2015

Crude oil production in August from seven major US shale plays is expected to decline 91,000 b/d to 5.36 million b/d, according to the US Energy Information Administration’s latest Drilling Productivity Report (DPR). EIA last month also projected a 91,000 b/d decline for July.

MPLX, MarkWest to merge in $15.8 billion deal

Jul 13, 2015

MPLX LP, a Findlay, Ohio-based master limited partnership (MLP) formed by Marathon Petroleum Corp. in 2012, and Denver-based MarkWest Energy Partners LP have agreed to a unit-for-unit merger deal in which MarkWest will become a wholly owned subsidiary of MPLX. The deal, valued at $15.8 billion in stock and cash excluding debt, is expected to close in the fourth quarter.

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