As of Monday, Norway’s Statoil has taken over operatorship of the eastern portion of its Eagle Ford Shale assets that it has held in a 50-50 joint venture (JV) since 2010 with Talisman Energy USA Inc.
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Koch Pondering Bakken Crude Pipeline
Koch Pipeline Co. LP is holding a nonbinding open season for the Dakota Express Pipeline, which would carry crude oil from the Bakken Shale in western North Dakota to Hartford and Patoka, IL. A connection at Patoka to the Eastern Gulf Crude Access Pipeline to carry crude to Gulf Coast refineries is also contemplated.
Shale Won’t Keep U.S. From Persian Gulf, Says Report
Despite the North American shale revolution’s transformation of global energy dynamics, the United States is unlikely to disengage completely from the Persian Gulf because other nations still depend on the region and it will still affect the world’s oil prices, according to a draft report presented to the North Atlantic Treaty Organization (NATO).
Mexico Moving to ‘Gas Economy,’ Sempra CEO Says
Sempra Energy CEO Debra Reed on Thursday outlined the company’s strategy, which is centered around the surge in North American natural gas supplies, particularly from U.S. shale plays. Reed sees opportunity in Mexico, where Sempra already holds a big stake, as that country migrates from oil to natural gas use.
NERC Raises Concerns on Reliability Risks to Gas-Dependent Power System
The North American Electric Reliability Corporation (NERC) Wednesday released a follow-up assessment in which it raised concerns about the ability of an increasingly natural gas-dependent bulk power system to maintain reliability when the capacity to deliver gas supplies to generators is constrained.
Industry Briefs
Plains All American Pipeline LP is constructing a 95-mile extension of its Oklahoma crude oil pipeline to service increasing production from the Granite Wash, Hogshooter and Cleveland Sands producing areas in western Oklahoma and the Texas panhandle. The new Western Oklahoma pipeline will provide up to 75,000 b/d of takeaway capacity from Reydon, OK, in Roger Mills County to PAA’s Orion station in Major County, OK. At the Orion station, crude oil will flow on PAA’s existing pipeline system to the PAA terminal in Cushing, OK. The new Western Oklahoma pipeline is supported by long-term producer commitments and is expected to be in service by the end of the first quarter of 2014, the company said.
Public Webinar Series on NY Fracking to Begin Wednesday
The New York State Petroleum Council (NYSPC), a division of the American Petroleum Institute (API), announced Monday that it would conduct the first of a series of free webinars about hydraulic fracturing for the public on Wednesday.
Equity Returns Reverse in 2012 for NatGas-Weighted Operators
The return on equity (ROE) for North American natural gas-weighted producers declined year/year in 2012, according to an analysis by the Energy Information Administration (EIA), news that’s been borne out in exploration and production (E&P) earnings results.
Equity Returns Reverse for NatGas Operators
The return on equity (ROE) for North American natural gas-weighted producers declined year/year in 2012, according to an analysis by the Energy Information Administration (EIA), news that’s been borne out in exploration and production (E&P) earnings results.
ICE Sees Turnaround in NatGas, Positions for Globalization
While low volatility and volumes marked the North American natural gas futures market in the first quarter, IntercontinentalExchange (ICE) has noted a strengthening in volume trends in both March and April, driven by increasing natural gas prices. Convinced of the globalization of the natural gas market, ICE is looking to establish a European marker.