Drilling

Oil

BP economist: Expect continued shale slowdown

Source: 
FuelFix

Mark Finley, BP's chief U.S. economist, warned the slowdown in shale drilling could last as least a couple of years, and U.S. producers ought to be prepared to adjust business plans until crude oil prices begin to recover, FuelFix reports.

Oil

Higher emissions from Canada’s oil sands: Study

Source: 
The Wall Street Journal

The Wall Street Journal reports on a study that found that greenhouse gas emissions from the entire life cycle of oil derived from Canada’s oil sands average 20 percent higher than from conventional U.S. crude.

Oil

FWS regs may scupper Shell plans for 2 Arctic wells

Source: 
FuelFix

Shell’s plans to drill two wells in the Chuckchi Sea 9 miles apart may run afoul of a Fish and Wildlife Service regulation that requires a 15-mile distance between drilling operations in order to protect animals such as walrus and seals, FuelFix reports.

Oil

More green lights for Shell Arctic drill ships

Source: 
FuelFix

Shell’s Noble Discoverer, still docked in a harbor in Washington state, has received a certificate of compliance from the U.S. Coast Guard, while the Polar Pioneer, which already has one and has begun its journey north, still needs to correct at least one more deficiency before moving onto the Burger Prospect in the Chukchi Sea, FuelFix reports.

Pentagon aiding oil spill response, ice forecasting in Arctic

The Pentagon is taking a larger role helping the Interior and Energy department in the Arctic region,  with the military assisting in oil spill response and forecasting of declining ice in the region.

The Government Accountability Office, Congress's watchdog arm, disclosed the Defense Department's assistance in a report issued Friday, saying the low threat of military conflict in the region has allowed the military to participate in the inter-agency Arctic Strategy.

Oil

US oil and natural gas rig count drops by 2 to 857

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

Houston-based Baker Hughes said Friday 631 rigs were seeking oil and 223 explored for natural gas. Three were listed as miscellaneous. A year ago, with oil prices nearly double the current levels, 1,858 rigs were active.

BP Photo
Oil

EIA: Oil price plunge took drilling services with it

When the price of oil plummeted more than 50 percent between June 2014 and January 2015, oilfield services and products like drilling, well casing, cementing and fracking sand took hits as well, a new analysis from the government’s energy statistics agency says.

The Energy Information Administration report examined the Bureau of Labor Statistics’ Producer Price Index, or PPI, which tracks the rates that oil and natural gas support companies were charging for their services during the period from June 2014 to May 2015.

Oil

Feds keeping close eye on Shell Arctic drilling moves

Source: 
FuelFix

Officials from the Bureau of Safety and Environmental Enforcement are looking closely at Royal Dutch Shell’s plans for Arctic drilling, and have asked for more details about the first two wells the company intends to drill in the Chukchi Sea, BSEE director Brian Salerno told FuelFix.

Oil

Shell rig heading to Arctic despite protesters' efforts

SEATTLE (AP) — An attempt at a protesters' blockade failed to stop a Royal Dutch Shell drilling rig Monday as it left Seattle on its way to explore for oil in the Arctic Ocean.

Some protesters had indicated they hoped to confront the Polar Pioneer off Port Townsend on Washington's Olympic Peninsula. However, U.S. Coast Guard Petty Officer Amanda Norcross said late Monday night that a gale warning was in effect in that area until Tuesday morning. She said the Coast Guard had not had interactions with protesters there.

Oil

Few long-term efficiency gains made by shale producers

Source: 
FuelFix

Shale oil drillers who’ve tightened their belts to cope with lower prices haven’t made fundamental changes to improve efficiency, even if they’re managing in the short term to produce more crude for less money, FuelFix reports.

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