More Unconventional News

Chesapeake’s $4-4.5 billion capex down 37% vs. last year

Feb 25, 2015

Chesapeake Energy Corp., Oklahoma City, is budgeting total capital expenditures, including capitalized interest, of $4-4.5 billion for 2015.

Grizzly files OSCA application with AER for Thickwood

Feb 25, 2015

Grizzly Oil Sands ULC, Calgary, has filed an Oil Sands Conservation Act application with Alberta Energy Regulator for the Thickwood project.

Encana trims additional $700 million from 2015 capital budget

Feb 25, 2015

Encana Corp. is reducing its previously reported capital investment for 2015 by $700 million to $2-2.2 billion “to maintain a solid balance sheet and help strengthen liquidity through a low price environment.”

Hickenlooper’s siting task force calls for more local consultation

Feb 25, 2015

Colorado Gov. John W. Hickenlooper’s (D) oil and gas siting taskforce called for more consultation and greater involvement with local communities on Feb. 24, but stopped short of giving them more power as it forwarded 9 of 36 proposals to him, The Denver Post reported.

Oneok halting construction at three gas plants

Feb 24, 2015

Oneok Partners LP, Tulsa, has suspended construction on 500 MMcfd of gas processing capacity at three plants in the Williston basin of North Dakota, Powder River basin in Wyoming, and Anadarko basin in Oklahoma. The actions are in response to lower commodity prices, especially for natural gas and NGLs, the company reported in its Feb. 24 earnings call.

IHS: Crude transported by Keystone XL would be consumed in US

Feb 24, 2015

Most, if not all, of the crude oil that would be transported via the proposed Keystone XL pipeline to the US Gulf Coast would not be exported, and the vast majority of refined product—about 70%—derived from it would be consumed in the US, according to a recent report by IHS.

County decision in Washington state stalls Shell’s Bakken rail plans

Feb 24, 2015

A Skagit County Hearing Examiner in Mount Vernon, Wash., halted Royal Dutch Shell PLC’s plans to move Bakken crude oil by rail to the company’s Anacortes refinery in northwest Washington pending an environmental and public health risk review, which could take a year or more.

AER sets new seismic monitoring rules for Duvernay in the Fox Creek area

Feb 23, 2015

The Alberta Energy Regulator (AER) announced seismic monitoring and reporting requirements for companies using hydraulic fracturing in the Duvernay zone of the Fox Creek area following some seismic events there in December 2014 and in January.

Derailed West Virginia oil train carried Bakken crude

Feb 23, 2015

A large-scale cleanup and investigation have launched following the Feb. 16 derailment of a CSX crude oil train near Mount Carbon, W.Va.

TransCanada challenges EPA's comments on Keystone XL SEIS

Feb 23, 2015

TransCanada Corp. responded critically to the Feb. 2 comment letter from the US Environmental Protection Agency on the US Department of State's final supplemental environmental impact statement (SEIS) for the Keystone XL crude oil pipeline.

EOG Resources’ budget down 40% to $4.9-5.1 billion

Feb 20, 2015

EOG Resources Inc., Houston, plans a capital budget of $4.9-5.1 billion in 2015 including production facilities and midstream expenditures, representing a 40% reduction compared with last year’s budget.

BHI’s rig count reaches 5-year low; forecast projects more losses

Feb 20, 2015

The US drilling rig count fell 48 units—markedly fewer compared with declines in recent weeks—to settle at 1,310 rigs working during the week ended Feb. 20, Baker Hughes Inc. reported.

Noble Energy’s budget down 40% in 2015

Feb 20, 2015

Noble Energy Inc., Houston, plans to spend $2.9 billion in 2015, representing a 40% reduction from 2014. The company also reported full-year 2014 net income of $1.21 billion and adjusted income of $881 million.

NGL Energy expands DJ basin crude pipeline to 200,000 b/d

Feb 19, 2015

NGL Energy Partners LP will increase the capacity of its Grand Mesa crude pipeline to at least 200,000 b/d by using 20-in. OD pipe. Volumes committed to Rimrock Midstream LLC’s 150-mile Denver-Julesburg basin gathering system, currently under development and planned to tie into Grand Mesa at Lucerne, Colo., prompted the expansion decision.

Marathon revises down budget by 20%

Feb 19, 2015

Marathon Oil Corp., Houston, has reduced its capital, investment, and exploration budget for 2015 by another 20% to $3.5 billion.

Texas private equity firm to help fund Pennsylvania gas-fired power plant

Feb 19, 2015

Panda Power Funds agreed to jointly develop a 1,000-Mw Pennsylvania power project that will use natural gas from the Marcellus shale, the Dallas private equity firm reported.

Magnum Hunter slashes budget by 75%

Feb 18, 2015

Magnum Hunter Resources Corp., Houston, plans a $100 million upstream capital expenditure budget for 2015, down from the $400 the company planned for 2014.

BP Energy Outlook projects global energy demand to jump 37% by 2035

Feb 17, 2015

Global demand for energy is expected to rise by 37% from 2013 to 2035, or by an average of 1.4%/year, due in large part to ongoing economic expansion in Asia, particularly in China and India, according to the latest BP Energy Outlook 2035.

Devon reduces capital budget by 20% in 2015

Feb 17, 2015

Devon Energy Corp., Oklahoma City, plans an exploration and production capital budget of $4.1-4.4 billion in 2015, representing a 20% decline compared with 2014.

Ohio Supreme Court rules against municipality in oil and gas case

Feb 17, 2015

The Ohio Supreme Court ruled that the city of Munroe Falls cannot impose local drilling and zoning ordinances that conflict with Ohio state law regarding oil and natural gas activities. The high court split in a 4-3 decision with three justices providing written dissents.

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