28 Feb 2014 More

Soaring Gas Prices Hit East Coast Hard

posted by Unknown @ 07:50 0 Comments

Image of gas prices at the pump
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.

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27 Feb 2014 More

Chesapeake Energy Weighs Oilfield Options

posted by Unknown @ 09:34 0 Comments

Chesapeake Energy storage tanks
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 More

Big Opportunities Opening Up in Mexico, PEMEX

posted by Unknown @ 13:38 0 Comments

Image of PEMEX rigs
Mexico is ending its 75-year-old law that forbids foreign involvement and investment in its oil business.  The state-run oil company, PEMEX, the fifth largest oil company in the world, is now open for business.  The First Titan Corp. of Miramar Beach, Florida says it will begin exploring opportunities in the oil-rich nation.

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25 Feb 2014 More

Will Chesapeake Energy Go Down the Same Road Again?

posted by Unknown @ 09:31 0 Comments

Image of the Chesapeake Energy flag
When you say the name Haynesville Shale it brings shudders to some energy execs, especially the higher-ups at Chesapeake EnergyChesapeake sank billions into the play only to sit and watch helplessly as natural gas prices plummeted.

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24 Feb 2014 More

Oil Rig Count Reaches New 2014 High in US

posted by Unknown @ 09:20 0 Comments

Rig Counts - rigs in the Bakken
Baker Hughes is reporting that the US oil rig count is now at its highest level in 2014 yet.  The number of rigs in the US increased from 1416 to 1423.  Since the beginning of 2014 that means an increase of 3 percent, or 45 total rigs.

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23 Feb 2014 More

Natural Gas Prices Fall from 5-year High

posted by Unknown @ 08:21 0 Comments

Natural Gas Prices in image
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 More

Laredo Petroleum Names New Midstream VP

posted by Unknown @ 08:18 0 Comments

Laredo Petroleum drilling area map
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 More

Oil Prices Climb to New 4-month High

posted by Unknown @ 17:25 0 Comments

Graph of oil prcesOil  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 More

Judge Throws Wrench into Keystone Pipeline Route

posted by Unknown @ 09:39 0 Comments

Image of Keystone Pipeline protests
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 More

Natural Gas Prices Surge on Cold Weather Forecast

posted by Unknown @ 16:38 0 Comments

Image of a natural gas well
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 More

President Obama to Set New Fuel Standards for US Trucks

posted by Unknown @ 07:27 0 Comments

Image of the president announcing new fuel standards
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. 
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17 Feb 2014 More

Mexico Ends Oil Monopoly; PEMEX to Participate in Joint Oil & Gas Ventures

posted by Unknown @ 13:23 0 Comments

Image of Pemex truck
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 More

Challenges Still Loom for Energy Sector

posted by Unknown @ 08:04 0 Comments

Construction in the energy sector
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 More

Canadian Natural Resources Goes on a Shopping Spree

posted by Unknown @ 08:00 0 Comments

Canadian Natural Resources Logo
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 More

Athlon Energy Gets Vertical with New Drilling Techniques

posted by Unknown @ 07:53 0 Comments

Athlon Energy Logo
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 More

Stone Energy Makes New Natural Gas Discovery

posted by Unknown @ 17:58 0 Comments

Stone Energy logo

Stone 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.

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12 Feb 2014 More

Oil and Gas Company Yuma Energy, Pyramid Oil to Merge

posted by Unknown @ 16:49 0 Comments

Oil and Gas Company Yuma Energy logo

The 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.

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11 Feb 2014 More

New Forecasts for Unconventional Gas Market, Shale Gas

posted by Unknown @ 16:44 1 Comments

Image of Unconventional Gas Market, Shale Gas diagram
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 More

Energy Secretary Moniz Supports Increased Usage of Crude Oil Pipelines

posted by Unknown @ 16:31 0 Comments

Photo of Ernest Moniz, the secretary of energy,
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 More

E&P, North American Summit Kicks Off in Mexico

posted by Unknown @ 16:21 1 Comments

Photo of presidents at E&P summit
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 More

Duke Energy Reports Earnings Jump of 58 Percent

posted by Unknown @ 12:06 0 Comments

Duke Energy is the largest in America
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 More

Did Chevron Really Get Double-crossed by its Lawyers?

posted by Unknown @ 11:50 0 Comments

A Chevron gas station location
Is 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."

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6 Feb 2014 More

Devon Energy to Sell Off Canadian Assets

posted by Unknown @ 11:02 1 Comments

Devon Energy headquarters in Oklahoma

The 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.


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5 Feb 2014 More

Statoil Selects GE's Proficy® SmartSignal for Heavy Rotating Equipment Contract

posted by Unknown @ 10:34 0 Comments

Image of StatOil station
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 More

Mexican PEMEX Signs Deal with Seadrill

posted by Unknown @ 09:11 0 Comments

Image of the PEMEX logo
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 More

Libya Oil Output Declines Amid El Sharara Pipeline Protests

posted by Unknown @ 08:57 0 Comments

Lybia oil field in the El Shahara

Libya 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

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2 Feb 2014 More

Italian Energy Co. Eni Foresees Positive Growth

posted by Unknown @ 07:45 1 Comments

Image of Italian Energy Co. Eni heaadquarters
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 More

Brightoil Makes $1.08 Billion Purchase of Oil and Gas Assets

posted by Unknown @ 14:36 1 Comments

Image of oil rig - Brightoil Petroleum Holdings
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.

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