NEW ORLEANS (AP) — A worker killed in an offshore explosion was cleaning a piece of equipment during routine maintenance at its oil-and-gas platform in the Gulf of Mexico, the company that runs the platform said Friday.
Houston-based Fieldwood Energy LLC said another worker suffered "visible injury" and two others reported ringing in their ears after the explosion, which was reported just before 3 p.m. Thursday. The company said the three injured workers have been released from the hospital.
With the fall in oil prices making it more challenging to profit from drilling, Apache Corp. announced it would be substantially reducing its capital spending in North America to $4 billion next year, although it still anticipated a 4 percent increase in production from the region, Reuters reports.
BISMARCK, N.D. (AP) — The new leader of North Dakota's oil-rich Three Affiliated Tribes is pledging to speed negotiations on a proposed pipeline through tribal land that would curb the wasteful burning of natural gas in the state by more than 10 percent.
North Dakota's booming oil production has led to an unmanageable increase in the state's output of natural gas, which is a byproduct of oil production. Oneok Inc., the biggest operator of natural gas pipelines and processing plants in North Dakota, wants to build a 20-mile-long pipeline to capture natural gas from oil wells in Dunn County and move it to an existing pipeline network nearby. But the Three Affiliated Tribes has demanded environmental assurances and cash for permission for it to pass through land it recently acquired.
An explosion at a Gulf of Mexico offshore platform on Thursday has killed one and injured three others, the federal Bureau of Safety and Environmental Enforcement said.
The Echo Platform, owned by Houston-based Fieldwood Energy, was not in production at the time of the explosion and there was no pollution released, BSEE spokeswoman Chauntra Rideaux said in a statement issued late Thursday.
The explosion was reported to the bureau just before 3 p.m. The injured people were being treated at an onshore medical facility, Rideaux said.
The platform is located about 12 miles from New Orleans and damage was limited to the explosion area, she said. The bureau was coordinating with the Coast Guard on an investigation.
Fieldwood Energy did not immediately respond to a request for comment. The company said in a statement published by The Times Picayune in New Orleans that the explosion "was an isolated incident that has been fully contained," and that the facility was not damaged.
Alaska received 356 bids on its tracts in this year’s oil and gas lease sale, including 297 for the North Slope, the most since 2006, the Alaska Journal of Commerce reports, noting that Department of Natural Resources Commissioner Joe Balash attributed the upsurge in interest to the state’s tax reform moves this year.
Continuing opposition from local and regional government officials as well as environmentalists including Greenpeace has failed to stop Spanish energy giant Repsol from leading a hunt for oil in the waters off the Canary Islands, The New York Times reports.
Oil industry analysts said news that Halliburton is in talks to acquire Baker Hughes could spark other oilfield services companies including Schlumberger, GE and Siemens to make bids and spark a bidding war over the company, FuelFix reports.
JPMorgan Chase has agreed to pay Eagle Ford mineral rights' holders represented by the South Trust Syndicate Trust about $40 million to settle a suit alleging the bank cut mineral rights deals with its commercial clients, a plaintiff tells the San Antonio Express-News.
Oil prices surged 8.3 percent in Friday trading as rig data suggested a slowdown in shale oil development, with Brent crude rising $3.86 to $52.99 a barrel and U.S. crude climbing $3.71 to settle at $48.24 a barrel, Reuters reports.
A survey conducted by Reuters reports that OPEC output rose by 130,000 barrels per day in January as Angola boosted exports and Persian Gulf producers kept steady or increased output, a signal that some members plan to stay the course on maintaining output despite low oil prices.
Despite the collapse of crude oil prices last year, the latest Commerce Department report of gross domestic output showed outlays for new oil rigs and wells rose 8.9 percent in the fourth quarter of 2014, even as equipment spending across all U.S. businesses fell, Bloomberg reports.
Chevron CEO John Watson, after his company reported lower profits and announced budget cuts, voiced optimism for long-term industry prospects, saying the price of oil will have to rise above $50 per barrel to support new exploration to meet energy needs, FuelFix reports.
A new poll conducted by The New York Times, Stanford University and Resources for the Future suggests that more than two-thirds of Americans, including 48 percent of Republicans, say they consider themselves more likely to support a candidate who supports action to combat climate change.
The National Biodiesel Board in a letter to the Environmental Protection Agency voiced frustration with the agency's delayed implementation of biodiesel mandates, saying the slow movement has caused some producers to reduce staff and forced others into bankruptcy, The Hill reports.
A survey of economists by Bloomberg projects that many of the world's largest crude oil exporters like Saudi Arabia, Kuwait and Qatar could see budget surpluses take hits and slip into deficits as global oil prices remain low.
Chevron, after posting a 30 percent decrease in earnings from the previous year in the fourth quarter 2014, abandoned plans to explore for shale gas in Poland, dealing a blow to efforts to develop hydraulic fracturing and shale drilling industries in Europe, The New York Times reports.
In an interview with E&E, Rep. Cynthia Lummis, R-Wyo., vice chairwoman of the Natural Resources Committee and leader of a new Interior and EPA oversight panel, discusses her familiarity with development and ranching issues in western states and her plans to limit Obama administration regulations on public land use.