Drilling

Oil

Hamm: Bakken oil threatened by safety missteps

BISMARCK, N.D. (AP) — The godfather of North Dakota's present oil bonanza predicted the state's crude production will double to 2 million barrels daily by decade's end but warned industry officials Thursday that future safety missteps would threaten that.

"We can't have any more issues," Harold Hamm, the chairman of Oklahoma City-based Continental Resources Inc., told expo-goers at the Williston Basin Petroleum Conference in Bismarck. "It has to be done in an absolute safe manner. It's going to take all of us."

Oil

Ecuador issues permit to drill in Amazon reserve

QUITO, Ecuador (AP) — Ecuador's government has issued an environmental permit for oil drilling in the pristine Amazon reserve that President Rafael Correa initially offered to exempt from exploration if rich countries would pay his government.

Correa abandoned that effort last year due to insufficient interest and has spurned pleas by environmentalists to spare the Yasuni reserve.

Oil

Sanchez growth fueled by better production efficiency and cost cutting: CEO

Source: 
FuelFix

Tony Sanchez III, CEO of Sanchez Energy, told FuelFix that getting more out of wells for less cost is the driving force behind the success of his company and other independents rising with the shale boom.

Oil

Census: Texas has 3 of 5 fastest-growing cities

HOUSTON (AP) — They grow everything bigger in Texas, even the cities.

Three of the nation's five fastest-growing cities — and seven of the top 15 — are located in the Lone Star State, according to new data from the U.S. Census Bureau. This includes San Marcos — a city located between Austin and San Antonio — that has topped the list of cities with more than 50,000 people for the second year in a row with growth of 8 percent between July 2012 and 2013 to 54,076 people.

But with that growth comes a few bumps.

Oil

Sanchez doubling Eagle Ford footprint with buy from Shell

Source: 
Houston Chronicle

Sanchez Energy Corp. announced Wednesday it is paying Royal Dutch Shell subsidiaries $639 million for 106,000 acres in the Eagle Ford Shale, the Houston Chronicle reports.

Oil

Monterey Shale estimates slashed

Source: 
Los Angeles Times

The Energy Information Agency is shrinking its projection of how much oil can be recovered from the Monterey Shale, from 13.7 billion barrels to around just 600 million, the Los Angeles Times reports.

Oil

About 270 wells account for 60 percent of ND flaring

BISMARCK, N.D. (AP) — Just 274 wells accounted for around 60 percent of all flaring of natural gas in North Dakota in December, a researcher said Tuesday at the Williston Basin Petroleum Conference in Bismarck.

Chad Wocken, senior research manager at the Energy and Environmental Research Center, a contract research firm housed at the University of North Dakota, discussed flaring and how to better utilize natural gas at the conference.

Oil

Schramm pitching new rig efficiencies to drillers

Source: 
FuelFix

To capitalize on the oil boom, Schramm Inc. has moved from its traditional market -- selling machines for mining and drilling water wells -- to oil drilling, touting its expensive, high-tech new rigs, FuelFix reports.

Oil

Generation shift as young flock to start-ups in shale

Source: 
Bloomberg

It’s not just Silicon Valley, the shale boom has attracted young entrepreneurs putting together start-ups in oil country, Bloomberg reports.

Oil

More horizontal rigs in use in Permian: EIA

Source: 
FuelFix

Horizontal rigs, which can produce more than vertical ones, are multiplying in the Permian Basin, according to the Energy Information Administration, which said more than five dozen new ones have been added in the region since the end of December, FuelFix reports.

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