Instead of an expected slowdown, Texas 2013 oil production increased to a level near the record set in 1972, pushed by higher oil prices that climbed on international unrest, according to an industry analysis, FuelFix reports.
Canada’s Talisman Energy has confirmed that it’s in talks to sell some of its assets to Spain’s Repsol, which analysts speculate may include interests in Marcellus Shale and Eagle Ford Shale, The Wall Street Journal reports.
Freeport-McMoRan Inc. considers its best prospects for growth to be in deep water oil and gas fields in the Gulf of Mexico, vice chairman Jim Flores said Wednesday, adding that the company will likely sell off up to $5 billion worth of land-based assets to help pay for it, Bloomberg reports.
A Harris poll conducted for the American Petroleum Institute found 68 percent of those surveyed support offshore drilling, and Americans likewise back an increase in oil and gas production, FuelFix reports.
A joint venture between Exxon Mobil and state-owned oil company Rosneft to look for oil off the coast of European Russia appears to be going ahead as planned despite the downing of a Malaysia Airlines plane in Ukraine, The New York Times reports.
Apache should stick to drilling in the U.S. and sell off its international operations, as it’s lagging behind companies that operate exclusively in American shale, according to a letter sent Monday by activist investor and hedge fund Jana Partners LLC, which owns at least a billion dollar stake in the company, The Wall Street Journal reports.
Demand for drilling equipment boosted the profit for oilfield services giant Halliburton in the second quarter, at $774 million, or 91 cents a share, up 20 percent from the year-ago period, The Wall Street Journal reports, noting that Chief Operating Officer Jeff Miller has been given the added title of president and will join the company's board.
WILLISTON, N.D. (AP) — Three massive fires since the beginning of June have highlighted the threat lightning poses in the North Dakota oil patch, and in each case it was tanks that store the toxic saltwater associated with drilling — not the oil wells or drilling rigs — that were to blame.
The lightning-sparked fires destroyed the groups of silo-like storage tanks at the three locations, which are among more than 440 sites in North Dakota where so-called saltwater is stored before being pumped into permanent disposal sites miles underground. In each case, the fires burned for days, spewing noxious black smoke into the air and literally salting the earth.
WASHINGTON (AP) — Since the Great Recession officially ended in June 2009, the U.S. economy has generated 7.8 million jobs. But the gains haven't been spread evenly across the country.
Some states have boomed. Others have struggled to add jobs.
North Dakota, benefiting from an oil and gas drilling boom, has created nearly 98,000 jobs over the past five years, a 27 percent increase -- by far the best in the country. New Mexico, hard hit by federal spending cuts, is the only state that has lost jobs since the recession ended.
ST. AUGUSTINE BEACH, Fla. (AP) — The Obama administration is reopening the Eastern Seaboard to offshore oil and gas exploration, approving seismic surveys using sonic cannons that can pinpoint energy deposits deep beneath the ocean floor.
Friday's announcement is the first real step toward what could be a transformation in coastal states, creating thousands of jobs to support a new energy infrastructure. But it dismayed environmentalists and people who owe their livelihoods to fisheries and tourism.
Following up on an agreement to bring more natural gas and electricity into New England, five of six governors in the region are holding an energy summit in Connecticut Thursday, the Hartford Courant reports.
Responding to an editorial in the Lexington Herald-Leader that said opponents of climate regulations would be regarded the same way as slaveholders in the future, Sen. Mitch McConnell, R-Ky., wrote an op-ed piece that said the paper was launching “tone-deaf attacks” and had achieved a “depressing new low,” The Hill reports.
ConocoPhillips CEO Ryan Lance told the IHS CERAWeek conference that volatility in the oil market is here to stay, and companies that slow production hoping to ramp up later when prices increase will only contribute to the trend, FuelFix reports.
Expectations that data will show another build in U.S. stockpiles were pressuring oil prices early Tuesday. U.S. benchmark crude for May delivery was down 15 cents to $56.23 a barrel ahead of the expiration of the contract, while in London Brent lost 17 cents to $63.28, Reuters reports.
A diverse coalition of businesses, scientists, environmentalists and former agency officials signed a petition letter to Interior Secretary Sally Jewell opposing the proposed 358-megawatt Soda Mountain Solar project and seeking to preserve the land near the Mojave National Preserve, E&E reports.
Richard St-Julien, who resigned as chairman of ForceField Energy Inc. after he was arrested Friday, is accused of using a Belize-based firm to make secret payments to conspirators in an attempt to boost the company’s stock price, Bloomberg reports, Trading in the company’s stock was halted Monday on the Nasdaq.
Energy Future Holdings’ move to pay off first-lien notes early is being challenged in court by a number of hedge funds, who are seeking $431 million more from the bankrupt company in what’s known as a “make-whole” premium, Bloomberg reports.