Drilling

Oil

Bankruptcy filing for Primera in San Antonio

Source: 
San Antonio Business Journal

Debts of up to $10 million have moved oil company Primera Energy to file for Chapter 11 bankruptcy protection, the San Antonio Business Journal reports, noting that the action comes after shareholders forced the firm into receivership with a lawsuit of their own.

Oil

Lower well costs, more spending cuts in oil industry: Fed

Source: 
FuelFix

Well costs have dropped 20 to 30 percent this year while oil companies are cutting spending by 30 to 40 percent, according to data reported in the Beige Book, the monthly regional economic snapshot produced by the Federal Reserve, FuelFix reports.

Oil

EPA: No 'systemic impacts' to groundwater from fracking, but some 'vulnerabilities'

A draft report released Thursday by the Environmental Protection Agency says hydraulic fracturing has not led to “widespread, systemic” effects on drinking water, but there are some potential "vulnerabilities" stemming from poor practices.

While the study found some specific cases where the process affected drinking water, including some well contamination, “they were small compared to the large number of hydraulically fractured wells across the country.” Those cases stemmed from inadequate well integrity and poor wastewater management.

Other potential for risks include withdrawing water from low-resource areas and fracking directly into reserves containing groundwater.

The study analyzed the flow of water throughout the drilling process, from acquisition of water to chemical mixing, well injection, and wastewater collection and disposal.

The agency will finalize the study following a public comment period and a Science Advisory Board review.

Oil

Fight against Arctic drilling popular with greens

Source: 
Reuters

Move over Keystone XL: Shell’s plan to drill for oil in the Arctic is now an issue that gets people protesting and donating to environmental groups such as the Sierra Club, Reuters reports.

Oil

Chevron’s North Sea cost-cutting could have wider implications

Source: 
The New York Times

If Chevron is successful in cutting costs to keep its aging North Sea oil operations going, the lessons it learns could have relevance elsewhere in the industry, The New York Times reports.

Oil

Construction problems holding up Chevron’s Big Foot offshore

Source: 
FuelFix

Damage to subsea installation tendons means Chevron will have to move its massive Big Foot platform in the Gulf of Mexico to shallow water to investigate what’s wrong, subjecting the drilling project to an indefinite delay, FuelFix reports.

Oil

Groups sue agency to block Shell's Arctic offshore drilling

ANCHORAGE, Alaska (AP) — Ten environmental groups Tuesday sued a federal agency over its approval of a plan by Royal Dutch Shell PLC for exploratory petroleum drilling off Alaska's northwest coast.

The Bureau of Ocean Energy Management last month signed off on Shell's exploratory drilling plan in the Chukchi Sea, which calls for two drill rigs and a support flotilla that includes spill-response vessels.

Oil

Environmental groups to challenge Arctic lease sale again

ANCHORAGE, Alaska (AP) — A dozen environmental groups told a federal court Monday they are renewing a challenge to the 2008 federal petroleum lease sale off Alaska's northwest shore, where Royal Dutch Shell PLC hopes to drill exploratory wells this summer.

The groups have twice obtained court rulings that said environmental analysis preceding the Chukchi Sea sale was flawed. The Department of Interior in March concluded that it had corrected mistakes.

Oil

More retirements for deepwater rigs

Source: 
FuelFix

A top executive of Seadrill says there’s no end in sight for the trend of sidelining and scrapping deepwater rigs, FuelFix reports.

Oil

US oil and natural gas rig count drops by 10 to 875

HOUSTON (AP) — Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. declined by 10 this week to 875.

Houston-based Baker Hughes said Friday 646 rigs were seeking oil and 225 explored for natural gas. Four were listed as miscellaneous. A year ago, with oil prices nearly double the current levels, 1,866 rigs were active.

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