28 Feb 2014
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Soaring Gas Prices Hit East Coast Hard
posted by Unknown @ 07:50 0 Comments
Record-setting cold weather has brought propane supplies
down to their lowest levels in decades.
For those living on the East Coast, this means soaring gas prices. But cold weather is not the only
culprit. A 94-year-old law is also
sticking it to consumers.
27 Feb 2014
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Chesapeake Energy Weighs Oilfield Options
posted by Unknown @ 09:34 0 Comments
Chesapeake
Energy announces that it will start looking for alternative strategies when
it comes to its oilfield services unit.
The natural gas company is right now in the midst of a restructuring
effort.
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26 Feb 2014
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Big Opportunities Opening Up in Mexico, PEMEX
posted by Unknown @ 13:38 0 Comments
25 Feb 2014
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Will Chesapeake Energy Go Down the Same Road Again?
posted by Unknown @ 09:31 0 Comments
When you say the name Haynesville
Shale it brings shudders to some energy execs, especially the higher-ups at Chesapeake Energy. Chesapeake sank billions into the play only to sit and watch
helplessly as natural gas prices plummeted.
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24 Feb 2014
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Oil Rig Count Reaches New 2014 High in US
posted by Unknown @ 09:20 0 Comments
23 Feb 2014
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Natural Gas Prices Fall from 5-year High
posted by Unknown @ 08:21 0 Comments
Natural gas prices came down off a new 5-year high Thursday,
this after the government came out with a new report showing that supplies have
dropped more than average. What was once
a 5 tcf surplus at the beginning of this record-setting winter is now estimated
to drop to just 1 tcf by season’s end.
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22 Feb 2014
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Laredo Petroleum Names New Midstream VP
posted by Unknown @ 08:18 0 Comments
Laredo Petroleum
announces the promotion of Dan C Schooley as its new VP of Midstream and
Marketing. Schooley has been at the Laredo
since 2007 after coming over from Latigo Petroleum.
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21 Feb 2014
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Oil Prices Climb to New 4-month High
posted by Unknown @ 17:25 0 Comments
Oil prices moved up
again, this time a 4-month high on speculation that inventories in Cushing,
Oklahoma have dropped for a third week.
Futures moved up by 0.9 percent.
Cushing is the delivery point for WTI.
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20 Feb 2014
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Judge Throws Wrench into Keystone Pipeline Route
posted by Unknown @ 09:39 0 Comments
Nebraska Judge Stephanie Stacy has
thrown out the proposed Keystone Pipeline
route through her state, this in a ruling Wednesday from a court in Lincoln , Nebraska . The ruling may
mean that President Obama can now put the issue on the back burner until after
the 2014 midterm elections.
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19 Feb 2014
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Natural Gas Prices Surge on Cold Weather Forecast
posted by Unknown @ 16:38 0 Comments
Natural gas prices surged Wednesday by 11 percent as
forecasts for another arctic air blast heading toward North America sent March
futures up to $6.149 mmbtu That’s a new
five-year high.
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18 Feb 2014
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President Obama to Set New Fuel Standards for US Trucks
posted by Unknown @ 07:27 0 Comments
President Obama is set to direct new federal agencies to
developing increased fuel standards for both heavy and medium-sized trucks over
the next two years. The step is intended
to have a two-pronged effect, both to decrease dependency on foreign imports and
to help reduce carbon emissions which can be harmful to the environment. The announcement will be made in Upper
Marlboro, Maryland , a major
distribution center for the Safeway grocery chain.
17 Feb 2014
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Mexico Ends Oil Monopoly; PEMEX to Participate in Joint Oil & Gas Ventures
posted by Unknown @ 13:23 0 Comments
Petroleos
Mexicanos, or PEMEX, Mexico’s state run oil company and the world’s 5th
largest producer of crude, announces that it will begin its first joint venture
as early as this year, this from its Chief Executive Officer Emilio
Lozoya. The decision by the Mexican
Congress to end the countries 75-year-old monopoly in the oil industry
means the Mexican energy business is in for boom times.
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16 Feb 2014
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Challenges Still Loom for Energy Sector
posted by Unknown @ 08:04 0 Comments
Even as CEO optimism in the energy sector is nearing an
all-time high, still most know challenges will need to be met in the coming
years. 88 percent of all CEOs believe
that while demand will remain high, new regulations and taxes are still a
concern.
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15 Feb 2014
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Canadian Natural Resources Goes on a Shopping Spree
posted by Unknown @ 08:00 0 Comments
It wasn't even six weeks ago that Canadian Natural Resources decided not to sell
off a portion of its natural gas assets.
This being a buyer’s market, the company decided to turn 180 degrees and
acquire gas assets from Devon Energy
instead.
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14 Feb 2014
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Athlon Energy Gets Vertical with New Drilling Techniques
posted by Unknown @ 07:53 0 Comments
While many companies have switched over to horizontal
drilling in the Permian Basin ,
Athlon Energy is still drilling the traditional vertical wells, and having
success in doing so.
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13 Feb 2014
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Stone Energy Makes New Natural Gas Discovery
posted by Unknown @ 17:58 0 CommentsStone Energy announces that it has made two brand new discoveries in its operated prospects of deep gas Tomcat and deepwater Amethyst. The Amethyst well in the Mississippi Canyon block 26 hit at a depth of around 90 feet.
12 Feb 2014
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Oil and Gas Company Yuma Energy, Pyramid Oil to Merge
posted by Unknown @ 16:49 0 CommentsThe Houston-based Yuma Energy Corporation announces that it has entered into an agreement to merge with Pyramid Oil. Yuma is a privately-held company that has been in the oil and gas business for more than 30 years.
11 Feb 2014
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New Forecasts for Unconventional Gas Market, Shale Gas
posted by Unknown @ 16:44 1 Comments
New forecasts for the Unconventional Gas Market are out and
show that regulatory support here in the US
is expected to lead to increased production levels well into 2019. Unconventional gas resources cover energy
staples like tight gas, shale gas, and gas hydrates.
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10 Feb 2014
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Energy Secretary Moniz Supports Increased Usage of Crude Oil Pipelines
posted by Unknown @ 16:31 0 Comments
Ernest Moniz, the secretary of energy, says he is in favor
of increasing the amount of crude oil pipelines currently shipped and a
reduction in the amount presently shipped by rail.
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9 Feb 2014
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E&P, North American Summit Kicks Off in Mexico
posted by Unknown @ 16:21 1 Comments
E&P will be major
topic at this year’s North American Summit for all three participants, the US,
Mexico, and Canada,
but they only have one day to do it.
Discussions about moving trade forward was on the agenda as President
Obama met with his counterparts Stephen Harper of Canada
and Pena Nieto of Mexico.
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8 Feb 2014
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Duke Energy Reports Earnings Jump of 58 Percent
posted by Unknown @ 12:06 0 Comments
Duke Energy is reporting 4th quarter earnings
skyrocketed by 58 percent, this after cost savings from its acquisition of Progress
Energy. The company is reporting a
profit of $688 million for the quarter.
Compare that to profits of $435 million the year before.
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7 Feb 2014
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Did Chevron Really Get Double-crossed by its Lawyers?
posted by Unknown @ 11:50 0 CommentsIs it really possible that oil and gas giant Chevron got shysted by its own lawyers? That seems to be the scuttlebutt going around its competitors.
According to EarthRights International, a nonprofit organization, “Chevron’s Own Lawyers Jeopardize Fate of Chevron-Ecuador RICO Lawsuit."
6 Feb 2014
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Devon Energy to Sell Off Canadian Assets
posted by Unknown @ 11:02 1 CommentsThe Oklahoma-based Devon Energy Corp. announces that it will be selling off $2.8 billion of its conventional assets in Canada. The deal comes on the heels of the company’s new $6 billion investment in Texas’ Eagle Ford shale project.
5 Feb 2014
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Statoil Selects GE's Proficy® SmartSignal for Heavy Rotating Equipment Contract
posted by Unknown @ 10:34 0 Comments
GE Intelligent Platforms announces that Statoil has selected GE's Proficy®
SmartSignal software and services to help with uptime and to increase
reliability of its heavy rotating equipment like compressors, generators, and
gas turbines.
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4 Feb 2014
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Mexican PEMEX Signs Deal with Seadrill
posted by Unknown @ 09:11 0 Comments
The Mexican state-run energy giant PEMEX announces that it has signed a deal to
use the West Oberon, West Intrepid, West Defender, and West Courageous,
Seadrill Ltd.’s jack-up rigs, in the Gulf of Mexico. Revenue estimates from the deal are said to
top $1.8 billion.
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3 Feb 2014
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Libya Oil Output Declines Amid El Sharara Pipeline Protests
posted by Unknown @ 08:57 0 CommentsLibya oil has seen its oil output drop by as much as 375,000 bbl/d as protests over the pipeline from the El Sharara field continue, this from a spokesman for the NOC, National Oil Corporation.
2 Feb 2014
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Italian Energy Co. Eni Foresees Positive Growth
posted by Unknown @ 07:45 1 Comments
Even with production problems and a volatile business
climate in both Libya
and Nigeria,
the Italian energy giant Eni is confident it will see growth in 2014. Beginning 2014 with losses of $832 million,
still the company came in ahead of industry estimates.
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1 Feb 2014
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Brightoil Makes $1.08 Billion Purchase of Oil and Gas Assets
posted by Unknown @ 14:36 1 Comments
Brightoil Petroleum Holdings announces that it will purchase the oil and gas assets of the Anadarko Petroleum Corp. for $1.08 billion, this according to Bloomberg. The acquisition will be in cash to purchase two offshore blocks which have a rate of 32,000 bbl/d.