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.
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.
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.
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.
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.
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.
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.
U.S. District Court Judge H. Russel Holland has sided with Pebble Ltd. Partnership in ordering former Environmental Protection Agency scientist Phil North to testify in the company’s lawsuit against EPA, the Alaska Dispatch News reports.
Coast Guard documents show Transocean’s Polar Pioneer, which is involved in Shell’s exploratory well drilling in the Chukchi Sea this summer, failed tests with fire and pollution equipment in the months leading up to the Arctic drilling, FuelFix reports.
Oil prices rose Monday over a report from the Energy Information Administration that U.S. crude production has been falling since April and signals that OPEC is finally willing to address the drop in prices. U.S. benchmark crude jumped $2.45 to $47.67 a barrel on the Nymex, while in London Brent rose $2.50 to $52.55, Reuters reports.
Increasing worries about potential fire at a landfill holding waste of barium sulfate from the Manhattan Project since the 1970s has prompted upset St. Louis area residents to pressure the Environmental Protection Agency to accelerate cleanup, The Hill reports.