Drilling

Oil

Rig operators acting to survive oil slump

Source: 
Reuters

Cost-cutting moves by major offshore drillers like Transocean and Seadrill improve their chances of riding out the slide in oil prices, Reuters reports.

Group backs off plan to put fracking ban on Colorado ballot

DENVER (AP) — An activist group on Thursday backed off its earlier announcement that it would to try to get a statewide ban on hydraulic fracturing on the Colorado ballot and said it would instead try to persuade Gov. John Hickenlooper to halt the practice.

Karen Dike of Coloradans Against Fracking said the group has not ruled out a campaign to put a ban on the 2016 ballot if the governor doesn't act.

Oil

Transocean swings to loss, takes $992M writedown

Source: 
Reuters

The collapse in oil prices that’s led to a slowdown in drilling has hit offshore rig provider Transocean, which reported a net loss of $739 million in the fourth quarter and announced it was taking a $992 million writedown in the value of its contract drilling business, Reuters reports.

Oil

Seattle activists protest Shell Arctic drilling plans

Source: 
KING 5 News

Environmental activists opposed to Arctic drilling testified at a commission meeting for the Port of Seattle this week, angry that Shell plans to use the port to launch vessels, KING 5 News reports. The protesters said they intend to take legal action.

Oil

Chesapeake to slash spending, rig operations after disappointing earnings

Source: 
The Wall Street Journal

Shale driller Chesapeake Energy says it will cut back drilling rig operations and slash capital spending by more than a third in the coming year, after the company reported fourth quarter profits below expectations on lower oil prices, The Wall Street Journal reports.

Colorado oil-gas panel suggests consulting role for local government

DENVER (AP) — A Colorado task force is recommending that local governments be given a consulting role on some decisions about the location of large oil and gas facilities, but the panel decided against suggesting that cities and counties be allowed to enforce their own rules.

In a series of votes Tuesday, the task force also rejected proposals to require disclosure of all the chemicals used in hydraulic fracturing and to give surface property owners more leverage if someone else owns the minerals under their land and wants to drill.

Oil

Lower costs to follow shale slowdown, says Halliburton pres

Source: 
FuelFix

As the breakneck growth in shale plays cools off, costs associated with continuing operations should fall, Halliburton president Jeff Miller told investors at a conference in Colorado, FuelFix reports.

Oil

Oil sands pullout for Shell from western Canada

Source: 
The Wall Street Journal

Plans for an oil sands surface mine in western Canada are being put off indefinitely by Royal Dutch Shell, following its move last month to trim 3,000 jobs in the region, The Wall Street Journal reports.

Oil

Exxon: Reserves swell in 2014

Source: 
FuelFix

The oil equivalent reserves of Exxon Mobil Corp. grew by 1.5 billion barrels last year, with nearly half of the new reserves coming from the Kearl Resource in northern Alberta, FuelFix reports.

Oil

Bankrupcty filing for Friedland’s Ivanhoe in Canada

Source: 
The Wall Street Journal

Struggling with the impact of lower oil prices, Ivanhoe Energy -- the exploration company started up by mining mogul Robert Friedland –- has filed for bankruptcy protection in Canada, The Wall Street Journal reports.

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