BUENOS AIRES, Argentina (AP) — State-run Argentine oil company YPF SA said Thursday it has reached a deal with Malaysia's Petronas to develop what is believed to be massive deposits of shale oil and gas in the vast Vaca Muerta formation in Patagonia.
YPF said the Malaysian state-owned oil company will provide $475 million of an initial investment totaling $550 million for a pilot phase scheduled to start early next year.
Three quarters of those who spoke out at a hearing on fracking before North Carolina’s Mining and Energy Commission Wednesday were against the practice, WNCT reports, noting that three more sessions are scheduled and the commission will make recommendations on modifying any regulations to the General Assembly in January.
COLUMBUS, Ohio (AP) — An Ohio man who uses a biblical reference and a statement against "poisoned waters" on billboards opposing wells for disposal of gas-drilling wastewater is fighting a legal threat from the Texas well owner on free-speech grounds.
Austin, Texas-based Buckeye Brine alleges in a July lawsuit that the billboards paid for by Michael Boals, of Coshocton in eastern Ohio, contain false and defamatory attacks against its two wells, which dispose of contaminated wastewater from oil and gas drilling.
The complaint by the company and Rodney Adams, who owns the land and operates the well site, contends the wells are safe, legal and meet all state safety standards. The parties object to statements on two billboards along U.S. Route 36, including one that "DEATH may come."
Andrew I. Farmer allegedly took control of Chimera Energy in secret and went about hawking $4.58 million in shares in 2012 by lying that the company was using waterless fracking technology, according to charges filed by the Securities and Exchange Commission, FuelFix reports.
The Texas Railroad Commission, the regulator in charge of the state’s oil industry, has proposed new rules governing the siting of disposal wells. The regulations were crafted by seismologist Craig Pearson, who was hired in April to address mounting concerns over earthquakes, FuelFix reports.
Stanford University researchers, presenting their work at the American Chemical Society conference in San Francisco Tuesday, said they found that fracking at the Pavillion gas field in Wyoming was taking place through sources of drinking water, although they did not report on any contamination, the Los Angeles Times reports.
In a notice filed in the Federal Register Friday, the Environmental Protection Agency said it won’t decide until February whether to block work on Alaska’s Pebble Mine, giving itself more time to review the extensive public comments it has received, The Hill reports.
Environment and Public Works Committee chair Sen. Barbara Boxer, D-Calif., has weighed in on the negotiations over new chemical safety legislation, raising GOP hackles by making public a draft being worked on by ranking Republican Sen. David Vitter of Louisiana along with her critique of it and her own proposal, E&E reports.
Rob Merrifield, the man who’ll be Alberta's next envoy in Washington, told The Globe and Mail in an interview that an oil train disaster similar to the destructive derailment in Lac-Megantic would finally force U.S. officials into approving the Keystone XL pipeline.
Shares in TransCanada, the company behind Keystone XL, have increased 70 percent in the six years the project has been stalled – that’s one of the points Bloomberg Businessweek notes as it looks back over the history of the proposed pipeline.
Ahead of the summit next week in New York, more than 1,400 organizations have been planning for a People’s Climate March Sunday that will be the largest protest on the issue in history, to include the famous and the powerful like U.N. Secretary General Ban Ki-moon, Rolling Stone reports.
Preliminary reports blamed the radiation leak at the Waste Isolation Pilot Plant in New Mexico on a single ruptured barrel that came from Los Alamos National Laboratory, but Joe Franco, who manages the Department of Energy’s field office in Carlsbad, told a public meeting that there may have been a problem with plutonium contamination from a second container, Reuters reports.
Rising inventories and a dollar gaining on the expectations of an interest rate hike pressured oil prices Friday. West Texas Intermediate crude for October delivery fell 66 cents to $92.41 on the Nymex but ended the week slightly higher, while in London November Brent settled up 69 cents to $98.39, an increase of 1.3 percent on the week, Bloomberg reports.
German giant Siemens AG is likely to edge out rival bidder Sulzer of Switzerland to take over Texas oil equipment-maker Dresser-Rand, as it’s preparing a cash offer topping $6 billion, people familiar with the situation told The Wall Street Journal.
Ethanol assessments were at their lowest point in more than four years Thursday after an Energy Information Administration report indicating supplies hit an 18-month high of 18.8 million barrels the week ending Sept. 12, Platts reports.
The Scottish “no” vote on independence – which was welcomed by Royal Dutch Shell's CEO – lifts the burden of uncertainty from oil companies, leaving them clear to focus on how to get more out of declining North Sea oilfields, Platts reports.