Oil company fined for failing to report production

ARTESIA, N.M. (AP) — The federal government is fining an Artesia oil man more than $700,000 for failing to submit reports on production on its federal leases in New Mexico.

The Department of the Interior's Office of Natural Resources Revenue said Tuesday it has assessed Louis Fulton, doing business as C.F.M. Oil Company , a $717,136 civil penalty.


Statoil working to cut carbon emissions from oil sands oil processing


Norway's Statoil is looking to new technology to cut its carbon dioxide emissions from processing Canadian oil sands, with a goal of reducing them by 20 percent in a six-year-period, Bloomberg reports.


La. levee board lawyers willing to change fee contract in major lawsuit

NEW ORLEANS (AP) — Lawyers for a south Louisiana flood control board say they'll change their contingency fee contract in a suit accusing 97 oil and gas companies of contributing to coastal erosion if the companies will pay them as part of a settlement.

The lawsuit, which Gov. Bobby Jindal opposes, seeks to hold the industry accountable for damage done by dredging for pipelines and canals and other activity in fragile coastal wetlands.

Shell photo

Interior prepares to propose Arctic Drilling Rule

Bureau of Safety and Environmental Enforcement Director Brian Salerno on Tuesday said the Interior Department is getting ready to unveil its new offshore Arctic oil and gas drilling safety rule.

In a blog post, Salerno said BSEE has been working with the Interior Department's offshore leasing arm, the Bureau of Ocean Energy Management, to develop the new Arctic Drilling Rule. The department had hoped to make the proposal public by the end of 2013, but pushed back its release in part because of the government shutdown last October.


Energy firms want role in next phase of Pa. shale case

HARRISBURG, Pa. (AP) — The energy industry wants a Pennsylvania court to let it play a formal role in sorting out the loose ends after a landmark court decision on a new state law designed to modernize oil and gas drilling regulations.

A Wednesday hearing is scheduled in Commonwealth Court over the request to intervene by the Pennsylvania Independent Oil and Gas Association, the Marcellus Shale Coalition and the American Petroleum Institute.


Alaska officials revise oil production estimates

JUNEAU, Alaska (AP) — The state Revenue Department is forecasting higher oil production than previously expected, though the overall, long-term trend is still one of decline.

North Slope production for this year is now forecast at 521,800 barrels per day, up from the 508,200 barrels per day forecast in December, which Deputy Revenue Commissioner Bruce Tangeman called a "banner headline."


Shale oil boom has potential to eliminate imports: EIA

The shale oil boom will account for most of the growth in U.S. domestic oil output through 2020 and could effectively eliminate imports of foreign crude if production remains strong in the following decades, the Energy Information Administration said Monday.

EIA, the statistics arm of the Energy Department, said its 2014 energy outlook projects so-called tight oil development will generate 81 percent of the rise in production over the next few years, to an expected 9.6 million barrels a day by 2020.


SCOTUS to hear class-action dispute in energy company case

WASHINGTON (AP) — The Supreme Court will consider the requirements for transferring class-action lawsuits from state courts to federal courts.

The justices on Monday agreed to hear an appeal from a Michigan energy company that asserts it should be allowed to move a class-action case from Kansas state court to federal court. Federal law allows such transfers in cases involving more than $5 million.

A group of royalty owners sued the Dart Cherokee Basin Operating Co. alleging they were underpaid royalties on oil and gas wells. The plaintiffs did not seek a specific damage amount, but the company claimed it would far exceed $5 million.

Coast Guard Photo

Salerno: Shell's future Arctic plans face 'fine tooth comb'

The day after the Coast Guard issued critical findings on the grounding of Shell's floating drill rig in Alaska 15 months ago, the Interior Department's chief offshore safety officer on Friday pledged to hold the company and others to a tough standard for any future Arctic exploration.

At a House appropriations hearing, Bureau of Safety and Environmental Enforcement Director Brian Salerno stressed that after the grounding of the Kulluk vessel, the department ordered drillers to submit audited integrated operations plans. He said any such plan by Shell will face heavy scrutiny.

"We will go over this with a fine tooth comb, because we do not want a repeat of that lack of internal coordination within their organization that contributed to this event," Salerno said of Shell.


Exxon says it will report on fracking risks by September

The Wall Street Journal

In response to shareholder pressure, Exxon Mobil Corp. says it will publicly report on risks associated with hydraulic fracturing by September, The Wall Street Journal reports.


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