Louisiana oil and gas producers should be able to put the past behind them — or at least not be burdened by outsized penalties for past environmental infractions — now that legislation to curb legacy lawsuits is in the final stretch toward adoption.
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In about 18 months the U.S. Geological Survey (USGS) should be able to tell the energy industry, and everyone else, just how productive the Three Forks formation, which lies below the Bakken Shale, might be.
Chesapeake Energy Corp., which has used a variety of savvy financial means to raise money for exploring and developing its vast unconventional portfolio in the United States, is preparing to launch its diverse onshore oilfield services unit through an initial public offering (IPO), a separate company that would continue to be closely tied to its main customer, the Oklahoma City-based producer.
The buildout of infrastructure to serve growing liquids-rich natural gas production from shale plays is continuing. Driven by natural gas liquids (NGL) production out of the Rockies and the Eagle Ford Shale of South Texas, Enterprise Products Partners LP plans to construct two more NGL fractionators at its Mont Belvieu, TX, facility. These would provide 150,000 b/d of incremental capacity. Pipeline construction also is under way.
What a difference a year makes. When President Obama directed Energy Secretary Steven Chu last March to establish a subcommittee to assess the environmental impacts of shale gas drilling, industry interpreted this as bad news. But Tuesday members of the subcommittee touted the industry and criticized detractors of both hydraulic fracturing (fracking) and shale gas development.
BP plc won’t be able to collect from Halliburton Co. any of the cleanup costs and economic losses that resulted from the Macondo well blowout in 2010 in the deepwater Gulf of Mexico (GOM), a district judge in New Orleans has ruled. U.S. District Judge Carl Barbier, who is to oversee a Macondo trial beginning later this month, in January made a similar ruling for Transocean Ltd. BP filed a lawsuit last year to recover from Halliburton, Transocean Ltd. and Cameron International some of the estimated $40 billion in costs and losses that followed the well explosion (see NGI, April 25, 2011) The case is In re: Oil Spill by the Oil Rig “Deepwater Horizon” in the Gulf of Mexico, on April 20, 2010, U.S. District Court, Eastern District of Louisiana, No. 10-md-02179. Halliburton was the well cementing contractor, Transocean owned the Deepwater Horizon drilling rig and Cameron manufactured the blowout preventer for the Macondo well. Cameron and BP settled their lawsuit in December (see NGI, Dec. 19, 2011). On Feb. 27 the litigants are scheduled to meet in New Orleans where Barbier is to preside over the initial BP spill trial.
BP plc won’t be able to collect from Halliburton Co. any of the cleanup costs and economic losses that resulted from the Macondo well blowout in 2010 in the deepwater Gulf of Mexico (GOM), a district judge in New Orleans has ruled. U.S. District Judge Carl Barbier earlier in January made a similar ruling for Transocean Ltd.
A state lower house committee in the Idaho legislature last Tuesday approved a new set of rules for the oil/gas industry. The House Resources and Conservation Committee voted 16-1 in favor of the new rules that were hammered out with the industry and other stakeholders.
Not even forecasts of next-day weather staying relatively moderate, combined with Monday’s drop of 5.1 cents by February futures, were able to knock continued general firmness out of the cash market Tuesday. Somehow the widely acknowledged fact of abundant storage remaining available is having little impact on continued purchases of spot gas.
Texas environmental regulators are planning to launch monitoring of Eagle Ford Shale air emissions some time next year. What has been learned from ongoing emissions monitoring in the Barnett Shale will be applied in the South Texas play, an engineer with the Texas Commission on Environmental Quality (TCEQ) told NGI’s Shale Daily.