More Unconventional News

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.

Swift, Saka complete Eagle Ford development deal

Jul 15, 2014

Swift Energy Co., Houston, completed its agreement with PT Saka Energi Indonesia to fully develop 8,300 acres of Fasken properties in the Eagle Ford in Webb County, Tex.

North Dakota flaring reduction policy may impact January production

Jul 15, 2014

North Dakota production continued to climb in May but new requirements in the state’s flaring reduction plan slowed permitting activity in June and may lead to production curtailments for some operators early next year.

EIA: Texas, N. Dakota provided nearly half of US crude production in April

Jul 14, 2014

Crude oil production in the US during April totaled 8.4 million b/d, with Texas and North Dakota accounting for 4 million b/d, according to data from the US Energy Information Administration's Petroleum Supply Monthly Report.

North Dakota gives teeth to flaring reduction plan

Jul 14, 2014

North Dakota operators that fail to meet the state's flaring reduction targets may soon be forced to curtail oil production from wells targeting the Bakken and Three Forks formations, according to an order issued July 1 by state regulators.

Whiting to acquire Kodiak in $6 billion deal

Jul 14, 2014

Whiting Petroleum Corp. has agreed to acquire Kodiak Oil & Gas Corp., both of Denver, in an all-stock transaction valued at $6 billion, creating the largest Bakken-Three Forks producer with more than 107,000 boe/d of first-quarter production, 855,000 combined net acres, and 3,460 net future drilling locations.

Baker Hughes: US drilling rig count inches up to 1,875

Jul 11, 2014

The US drilling rig count reflected another uneventful week, again edging up only 1 unit to reach 1,875 rigs working during the week ended July 11, Baker Hughes Inc. reported.

Leadership named for Oxy California independent spinoff

Jul 10, 2014

Occidental Petroleum Corp. has appointed Todd A. Stevens as president and chief executive officer and William E. Albrecht as executive chairman of its independent spinoff California Resources Corp. (CRC).

API releases unconventional production community engagement standard

Jul 9, 2014

The American Petroleum Institute issued a new standard specifically aimed at effectively engaging with US communities affected by exploration and development of unconventional oil and gas resources. ANSI-API Bulletin 100-3 emerged following 3 years of meetings and discussions with producers, community leaders, state regulators, property owners and other stakeholders, API Standards Director David Miller said.

KKR, Riverstone to form Barnett-focused Trinity River Energy

Jul 9, 2014

Kohlberg Kravis Roberts & Co. LP (KKR) and Riverstone Holdings LLC have signed a definitive agreement to combine the existing assets held by KKR Natural Resources Funds with the assets of Legend Production Holdings LLC, a Riverstone company, to create a Fort Worth-based oil and gas company named Trinity River Energy LLC.

Suncor, GE aim to reduce GHG emissions, water usage in oil sands

Jul 9, 2014

Suncor Energy Inc., Calgary, and GE have signed two agreements that aim to reduce greenhouse gas (GHG) emissions and water usage in the oil sands.

EIA: Low-permeability formations driving Permian oil production surge

Jul 9, 2014

Crude oil production in the Permian basin has increased to 1.35 million b/d in 2013 from 850,000 b/d in 2007. Since March 2013, the Permian basin has become the largest crude oil producing region in the US, with production exceeding that from the federal offshore Gulf of Mexico region. In 2013, the Permian basin’s production accounted for 18% of total US crude oil production, said the US Energy Information Administration.

Warren Resources to enter Marcellus with assets purchase

Jul 7, 2014

Warren Resources Inc., New York, has agreed to acquire the Marcellus assets of Citrus Energy Corp., Castle Rock, Colo., along with two additional working interest owners for $352.5 million, effective July 1.

Baker Hughes: US drilling rig count edges up to 1,874

Jul 3, 2014

The US drilling rig count edged up 1 unit to 1,874 rigs working during the abbreviated week ended July 3, Baker Hughes Inc. reported.

Chile looking to gas to meet energy demand, energy minister says

Jul 2, 2014

Chile is focusing most of its attention on natural gas to meet the country’s energy demand challenges, stated Maximo Pacheco Matte, the newly appointed Minister of Energy, during a July 2 panel discussion in Houston.

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