Drilling

Oil

Mexican energy reform could stop oil production decline: EIA

Source: 
FuelFix

Mexican oil production has dropped 25 percent over the past ten years, with the 2.5 million barrel per day average last month the country’s lowest in nearly two decades, according to the U.S. Energy Information Administration, which anticipates that changes the country's energy reform should bring will reverse the trend, FuelFix reports.

Oil

Shale drillers’ debt rising: Bloomberg

Source: 
Bloomberg

Revenue from shale drilling has increased just 5.6 percent over the past four years while operators’ debt has nearly doubled, according to a Bloomberg analysis, and analysts warn some overextended companies may not be able to keep going.

Oil

Greenpeace boards 2 drill rigs in Arctic protest

STAVANGER, Norway (AP) — Greenpeace says activists have boarded two offshore drilling rigs in a protest against oil and gas exploration in Arctic waters.

Juha Aromaa, a spokesman for the environmental group, says 15 activists boarded a rig operated by Norwegian energy company Statoil about 109 miles (175 kilometers) off the Bear Island nature reserve early Tuesday without encountering any resistance from the onboard crew.

Oil

US rig count down 4 to 1,857

HOUSTON (AP) — Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. fell by four this week to 1,857.

The Houston firm said in its weekly report Friday that 1,528 rigs were exploring for oil and 325 for gas. Four were listed as miscellaneous. A year ago there were 1,762 active rigs.

Shell photo
Oil

BOEM sets March 2015 to revamp Chukchi lease EIS

The Interior Department on Friday said it will complete by next March a court-ordered rewrite of an offshore Alaska oil lease environmental review under what it called an "expedited process," which would clear the way for it to consider drilling by Shell in the Chukchi Sea.

In a bimonthly status report on its progress submitted to a federal judge in Anchorage, the Bureau of Ocean Energy Management said that it has begun drafting a supplemental environmental impact statement for Lease 193 under simultaneous processes by its staff and cooperating agencies.

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.

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