Natural Gas

BP to sell off some Texas gas assets to Pantera

Source: 
FuelFix

BP announced plans to sell some 270,000 acres of natural gas-rich land in the Texas Panhandle to Pantera Energy for $390 million. The deal is expected to be finalized this month, FuelFix reports.

Shell exits Saudi gas project

Source: 
Reuters

Royal Dutch Shell said it has ended its investments in a Saudia Arabian gas development project but promised future investments in the kingdom, Reuters reports.

Oil

Oil slips below $104 as supplies set to increase

Oil fell below $104 per barrel on Monday as expectations of increased supply offset strong U.S. job growth.

U.S. crude for August delivery was down 25 cents to $103.81 a barrel at 0620 GMT in electronic trading on the New York Mercantile Exchange. The contract sunk as low as $103.70 on Friday before closing at $104.06.

Brent crude, a benchmark for international oils, was up 2 cents at $110.66 on the ICE exchange in London.

EU energy chief urges Germany to keep open mind on fracking

Source: 
Reuters

Saying Europe could reap one tenth of its energy needs from hydraulic fracturing in shale, European Union Energy Commissioner Guenther Oettinger urged Germany to keep an open mind on fracking in light of recent recommendations that raise concern on the safety of the process, Reuters reports.

Work on Alaska LNG project underway: Parnell

Source: 
Reuters

Now that the state of Alaska and four firms – Exxon Mobil, ConocoPhillips, BP and TransCanada – have signed a joint venture agreement, design work is underway on an LNG project that includes an 800-mile pipeline and an export plant, Gov. Sean Parnell said Wednesday, Reuters reports.

Oil

Study shows how drilling wastewater causes quakes

WASHINGTON (AP) — A new study explains how just four wells forcing massive amounts of drilling wastewater into the ground are probably shaking up Oklahoma.

Those wells seem to have triggered more than 100 small-to-medium earthquakes in the past five years, according to a study published Thursday by the journal Science. Many of the quakes were much farther away from the wells than expected.

Combined, those wells daily pour more than 5 million gallons (19 million liters) of water a mile or two underground into rock formations, the study found. That buildup of fluid creates more pressure that "has to go somewhere," said study lead author Cornell University seismologist Katie Keranen.

Oil

US rig count rose 1 to 1,874

HOUSTON (AP) — Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. rose by one this week to 1,874.

The Houston firm said in its weekly report Thursday that 1,562 rigs were exploring for oil and 311 for gas. One was listed as miscellaneous. A year ago there were 1,757 active rigs.

Of the major oil- and gas-producing states, Texas gained seven rigs, New Mexico and West Virginia were up two and Oklahoma added one.

Oil

Guest Opinion: How shallow water drilling boomed after 'permitorium' lifted

The recent fourth anniversary of the Deepwater Horizon accident and oil spill captured a lot of headlines, as energy supporters and detractors alike weighed in on the significance of the tragic and costly event that occurred in the Gulf of Mexico.

Those closest to the incident, however, remember other benchmark events from the spring and summer of 2010, including the May 28, 2010 lifting of the moratorium on permits for shallow-water drilling operations. Shallow-water drilling, which takes place in 500 feet or less of water, has been the foundation of the Gulf energy industry since the 1950s. 

It continues to be a major source of energy activity in the Gulf today, and is currently enjoying an uptick of interest from investors.  It also had nothing to do with the Deepwater Horizon, yet was subject to the blanket moratorium on new permit issuance imposed in the wake of the accident.

Future legal challenge to a NY fracking ban may come from landowner

Source: 
E&E

Following a court ruling backing the power of New York communities to ban fracking, lawyers are speculating that a future legal challenge could come from a landowner challenging the loss of valuable rights known as takings, E&E reports.

Cheniere lining up buyers for LNG exports

Source: 
FuelFix

Cheniere Energy announced this week it has reached agreement to sell liquefied natural gas to Pertamina, Indonesia’s state-owned energy company, and Australian firm Woodside Petroleum, starting as early as 2019, FuelFix reports.

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