Drilling

Oil

Fracking could help deep water drilling pay off

Source: 
Bloomberg

Fracking could help unlock reserves for deep water drillers, particularly in the Gulf of Mexico, Bloomberg reports, noting that players like Halliburton Co. are moving cautiously because of the harsh environment.

Oil

Prices to drive US crude production, says Pioneer CEO

Source: 
FuelFix

With new technology U.S. oil drillers have the potential to exceed government forecasts of producing 9.5 million barrels a day in 2016, but whether they will actually do so depends on the price, Pioneer Natural Resources CEO Scott Sheffield told a conference in Denver, FuelFix reports.

Mexican Senate approves opening of energy sector

MEXICO CITY (AP) — Mexico's Congress approved a comprehensive energy reform that will break more than seven decades of state monopoly and dramatically expand the role of foreign and private companies in the country's oil and gas industry.

The package of new laws approved late Wednesday will now go to the desk of President Enrique Pena Nieto, who has made energy reform the cornerstone of his platform to expand Mexico's economy and to make the country a global competitor.

"Today we took a big step toward the future for Mexicans," Pena Nieto said via his Twitter account. "We will take better and more sustainable advantage of our energy resources."

Mexican Senate nears final vote on oil opening

MEXICO CITY (AP) — Mexico's Senate debated the final pieces of legislation Wednesday needed to enact a dramatic expansion of the role of foreign and private companies in the state-run oil industry.

The Senate was expected to approve the final packages of laws to regulate private oil and gas drilling that is being allowed for the first time since the industry was nationalized 76 years ago. The overhaul is supported by the governing Institutional Revolutionary Party, the conservative National Action Party and a smaller party that together can form a majority.

Oil

Strong shale performance boosts EOG profit

Source: 
FuelFix

EOG Resources Inc. Tuesday reported a 7 percent increase in second quarter profit to $706 million on strong performance in North Dakota’s Bakken Shale and in Eagle Ford Shale and the Permian Basin in Texas, FuelFix reports.

Oil

Noble CEO says Colorado methane compromise could serve as model

Source: 
FuelFix

The compromise in Colorado between environmentalists and the oil industry over controlling methane emissions from drilling could serve as an example for other parts of the country, according to Noble Energy CEO Chuck Davidson, FuelFix reports.

Oil

Rising interest rates shouldn’t choke shale boom

Source: 
The Wall Street Journal

One reason why any future increase in interest rates may not trouble debt-ridden shale drillers is that a sizeable amount of their borrowing has been agreed under fixed rates, The Wall Street Journal reports.

Gov. John Hickenlooper/Energy Guardian Photo
Oil

Hickenlooper, Polis push Colorado fracking battle to next year

A deal announced Monday by Colorado Gov. John Hickenlooper and Rep. Jared Polis to study local oil and gas siting conflicts appears to have averted an intra-party fight over controversial ballot initiatives that would have let communities ban hydraulic fracturing.  

They agreed on the creation of an 18-member task force to make recommendations next year to the governor and state legislature on the regulation of the drilling practice, known as fracking, near homes, businesses and schools.

In return, Polis agreed to drop his support for the two initiatives that would amend the state constitution to set a 2,000-foot minimum setback for wells near occupied buildings, four times the current minimum, and allowed communities to set stricter drilling regulations than the state, including bans.

Oil

Landowners skeptical of Continental offer in ND

Source: 
The Wall Street Journal

The offer by Continental Resources Ltd. to pay state taxes and royalty payments in North Dakota for natural gas it failed to burn off properly has been met with skepticism by lawyers for landowners and rights holders, suspicious that the plan is intended to limit the company’s liability, The Wall Street Journal reports.

Oil

House Republicans want more areas opened to offshore drilling

Source: 
The Hill

Opening up more areas to offshore drilling -- including parts of the Pacific -- would generate around $160 billion over a period of less than 20 years, according to more than 160 Republican Congressmen who sent a letter to Interior Secretary Sally Jewell about her department’s updated plan for the Outer Continental Shelf, The Hill reports.

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