More Unconventional News

Osum completes purchase of Orion project from Shell

Aug 1, 2014

Osum Production Corp., a wholly owned subsidiary of Osum Oil Sands Corp., Calgary, has completed its purchase of the Orion oil sands project in the Cold Lake region of Alberta from Shell Canada for $325 million (Can.).

SM Energy to acquire North Dakota assets from Baytex

Jul 31, 2014

SM Energy Co., Denver, has agreed to acquire 61,000 net acres in Divide and Williams Counties, ND, from Baytex Energy Corp., Calgary, for $330.5 million, effective July 1. The deal is expected to close toward the end of the third quarter.

EPP expands HSC ethane export agreements

Jul 31, 2014

Enterprise Products Partners LP (EPP) executed an additional long-term contract to provide ethane storage, transportation, refrigeration, and loading services from its 10,000-bbl/hr loading capacity ethane export terminal under construction at its Morgan’s Point site on the Houston Ship Channel. With the new agreement, EPP said it has long-term commitments for about 85% of the terminal’s capacity.

PwC: 2Q oil and gas M&A activity strongest in 5 years

Jul 30, 2014

The US oil and gas industry experienced a substantial rise in mergers and acquisitions during the second quarter, according to a quarterly report by PwC US Energy Practice.

Hess looks to form Bakken midstream MLP

Jul 30, 2014

Hess Corp. reported that it will pursue the formation and initial public offering of a midstream master limited partnership (MLP) that would support the company’s production growth in the Bakken shale.

Templar Energy to acquire Granite Wash assets for $588 million

Jul 29, 2014

Templar Energy LLC, Oklahoma City, has agreed to purchase Granite Wash assets from Newfield Exploration Co., Houston, for $588 million, effective July 1. The deal is expected to close in the third quarter.

WoodMac: Wolfcamp spending could surpass that of Bakken by 2017

Jul 29, 2014

Activity in the Wolfcamp shale is expanding and, by as early as 2017, could overtake the Bakken in tight oil spending, according to analysis on the West Texas play from Wood Mackenzie.

Chesapeake, RKI E&P agree on Powder River acreage exchange

Jul 29, 2014

Chesapeake Energy Corp. and RKI Exploration & Production LLC (RKI), both of Oklahoma City, have agreed to exchange nonoperated interests in 440,000 gross acres in the Powder River basin in southeastern Wyoming.

EIA: Summer natural gas injection continues at a record pace

Jul 28, 2014

The US Energy Information Administration’s current Short-Term Energy Outlook projects a record build of nearly 2,600 bcf from the beginning of April through the end of October, which would put inventories at 3,431 bcf at the end of October. In line with EIA's expectations, working natural gas storage midway through the summer storage injection season is on pace to for a record overall build.

States with fracing are economically stronger, House panel told

Jul 28, 2014

US states that embraced hydraulic fracturing and horizontal drilling staged stronger economic recoveries than those that did not since 2008 when the country plunged into recession, an economist told a House Energy and Commerce subcommittee.

DOT proposes new rules for transporting crude by rail

Jul 28, 2014

A train with 20 or more tank cars carrying crude oil, ethanol, or other flammable liquids would be classified as a high - hazardous flammable train (HHFT), and would be subject to lower speed limits, routing risk assessments, and other new requirements under new US Department of Transportation regulatory proposals.

Baker Hughes: US drilling rig count jumps to 1,883

Jul 25, 2014

The US drilling rig count shot up 12 units to 1,883 rigs working during the week ended July 25, Baker Hughes Inc. reported.

DOT proposes new rules for transporting crude oil by rail

Jul 23, 2014

A train with 20 or more tank cars carrying crude oil, ethanol, or other flammable liquids would be classified as a high-hazardous flammable train (HHFT), and would be subject to lower speed limits, routing risk assessments, and other new requirements under new US Department of Transportation regulatory proposals.

Diamondback to expand Midland basin acreage

Jul 23, 2014

Diamondback Energy Inc., Midland, Tex., has entered into a definitive purchase agreement with unrelated third party sellers to acquire 16,773 gross (13,136 net) acres in Midland, Glasscock, Reagan, and Upton counties in Texas for $538 million.

CERI: Costs up for oil sands production

Jul 23, 2014

The costs of producing bitumen and synthetic crude in the Albertan oil sands have increased over the past year, says the Canadian Energy Research Institute in an annual report that projects steady growth in output.

AER responds to reports on cause of Primrose bitumen leaks

Jul 22, 2014

The Alberta Energy Regulator (AER) said on July 22 that it agrees with the assessment that the steaming strategy and wellbore issues were the main contributing factors to last year’s bitumen flow-to-surface (FTS) incidents at the east and south sections the Primrose project operated by Canadian Natural Resources Ltd. (CNRL).

DOE wants to mobilize subsurface engineering R&D efforts

Jul 22, 2014

The US Department of Energy wants to mobilize federal government, oil and gas industry, university, and other research to address subsurface engineering challenges, particularly controlling fracture propagation and fluid flow, officials said at the first of several projected discussions.

Baker Hughes: US drilling rig count decreases to 1,871

Jul 18, 2014

The US drilling rig count dropped 4 units to settle at 1,871 rigs working during the week ended July 18, Baker Hughes Inc. reported.

Ineos secures loan guarantee for Grangemouth upgrade

Jul 17, 2014

Ineos AG, Switzerland, has secured a £230 million loan from the UK government that will allow the company to move forward with a planned upgrade at its 210,000-b/d Grangemouth, Scotland, refinery and petrochemical complex.

Petrotrin blames US shale gas revolution for reduced refinery runs

Jul 16, 2014

Trinidad and Tobago’s state-owned Petrotrin is blaming the shale gas revolution in the US and lower crude prices at Cushing, Okla., for its decision to significantly reduce its refinery throughput to 120,000 bo/d from 180,000 bo/d.

Stay Connected