Drilling

Oil

Higher oil prices drive Texas production hike: Report

Source: 
FuelFix

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.

Oil

Repsol looking to pick up Talisman assets

Source: 
The Wall Street Journal

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.

Oil

Freeport to focus on deep water in Gulf of Mexico

Source: 
Bloomberg

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.

Oil

Americans back more oil production, offshore drilling: API poll

Source: 
FuelFix

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.

Oil

Exxon-Rosneft drilling rig enroute to Kara Sea

Source: 
The New York Times

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.

Oil

Hedge fund Jana pressuring Apache to ditch international operations

Source: 
The Wall Street Journal

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.

Oil

Halliburton 2Q profit jumps 20 percent on drilling demand

Source: 
The Wall Street Journal

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.

Oil

Lightning a threat to ND saltwater disposal sites

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.

Oil

Ranking US states by job creation in past 5 years

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.

Obama opens Eastern Seaboard to oil exploration

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.

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