Drilling

Baker Hughes to disclose fracking chemicals

NEW YORK (AP) — The drilling services company Baker Hughes on Wednesday implemented a policy of disclosing all of the chemicals used in its fracking operations.

Environmental groups and local communities have for years been pushing for full disclosure of the chemicals used in hydraulic fracturing, a drilling technique also known as fracking.

In response, the oil and gas industry set up an online database -- at FracFocus.org -- that lists many of the chemicals, but held back crucial information on certain chemicals and the amounts used on the grounds that it would provide competitors with trade secrets.

Oil

Ex-Im Bank to back loan guarantees for sales to Mexico

Source: 
The Hill

The Export-Import Bank plans to back $1 billion in loan guarantees in order to sell drilling goods and services to Mexico’s national oil company Pemex, The Hill reports.

Oil

Colorado drillers cheer ruling limiting Broomfield fracking ban

Source: 
Denver Business Journal

A judge’s decision that Broomfield’s fracking ban doesn’t apply to Sovereign Operating Co. because of an earlier memorandum of understanding between the company and the community is a “victory for certainty and clarity,” the Colorado Oil & Gas Association said, according to the Denver Business Journal.

Critics dissatisfied with Exxon fracking report

NEW YORK (AP) — Exxon Mobil issued a report Tuesday that acknowledges the environmental risks of hydraulic fracturing but also defends the practice as being better for the environment than other types of energy production and generation.

Under pressure from the corporate responsibility group As You Sow, as well as New York City Comptroller Scott Stringer and other shareholders, Exxon agreed earlier this year to reveal more about how it manages the risks involved with the drilling technique, known as fracking.

The report acknowledges that drilling wells and producing oil and gas from shale formations and other so-called unconventional sources do carry risks, including the possibility of water contamination and leaks of natural gas into the atmosphere that contribute to climate change.

BLM misses unapproved oil and gas drilling, IG finds

The Interior Department is failing to crack down on the unauthorized tapping of federal oil and gas deposits in the West, which is expected to grow with the use of horizontal drilling, an internal watchdog reports.

The Office of Inspector General said in a report issued this week that taxpayers risk losing royalty payments from illegal production, especially in North Dakota and Oklahoma, where federal parcels are fragmented among private lands.

Exxon fracking report responds to shareholders

NEW YORK (AP) — Exxon Mobil is explaining how it is working to manage the risks of hydraulic fracturing in a report issued in response to pressure from a corporate responsibility group, the New York City Comptroller, and other shareholders.

The report acknowledges that drilling wells and producing oil and gas from shale formations and other so-called unconventional sources do carry risks. The report also goes into detail about the benefits of unconventional oil and gas production and how it compares favorably to many other types of energy production and generation.

Oil

Oil find in Arctic’s Kara Sea for Rosneft, Exxon Mobil

Source: 
Platts

Russian oil company Rosneft and its CEO Igor Sechin have announced a major discovery of oil and gas in the Arctic’s Kara Sea, where it has been exploring with the help of partner Exxon Mobil despite Western sanctions imposed over the Ukraine crisis, Platts reports.

Oil

Encana buying Athlon Energy for $5.93 billion

NEW YORK (AP) — Oil and natural gas company Encana is buying Athlon Energy Inc. for $5.93 billion in an effort to boost is oil production by tapping into Texas's booming Permian Basin.

Canada's Encana Corp. will also assume $1.15 billion in debt, bringing the transaction's total value to approximately $7.1 billion.

Oil

US rig count unchanged at 1,931

HOUSTON (AP) — The number of rigs exploring for oil and natural gas in the U.S. was unchanged this week, holding at 1,931, oilfield services company Baker Hughes Inc. said.

The Houston firm said Friday in its weekly report that 1,592 rigs were exploring for oil and 338 for gas. One was listed as miscellaneous. A year ago there were 1,744 active rigs.

Oil

Devil in the detail for Mexican oil, say execs

Source: 
The Wall Street Journal

Oil company executives gathered in Cancun for a conference say there’s huge potential in developing Mexican energy resources in the wake of the country’s reform of the sector, but view the situation cautiously until they see details of the drilling terms, The Wall Street Journal reports.

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