The venerable Permian Basin in West Texas is in the “early innings” of an oil/gas renaissance that promises to be technology driven, riding the wave of horizontal drilling, which still represents only a quarter of Permian rig activity, according to a report released Monday by Houston-based financial services company U.S. Capital Advisors.
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Two Colorado Oil Shale Research Projects Assessed
Two research projects to assess the oil shale potential of the Piceance Basin in northwestern Colorado are undergoing preliminary assessment by the Bureau of Land Management (BLM) in Colorado.
PetroLogistics Storage Expansion Nears FERC Approval
FERC on Friday issued a favorable environmental assessment (EA) for PetroLogistics Natural Gas Storage to expand the working gas capacity of its Choctaw Hub facility near Baton Rouge, LA, by more than 10 Bcf.
Ohio Governor’s Plan Restructures Gas/Oil Taxes, Adds Regs
The administration of Ohio Gov. John Kasich is proposing to “modernize” taxes and regulations on the oil and gas industry, aiming to cut income taxes by capturing revenue from the prospective Utica Shale boom.
Millennium Compressor Project Gets Favorable Environmental Nod
FERC Friday issued a favorable environmental assessment to Millennium Pipeline Co. LLC for a natural gas compressor station project in Minisink, NY, to boost firm deliveries of Marcellus Shale gas to its interconnection with Algonquin Gas Transmission LLC at Ramapo, NY, to approximately 675,000 Dth/d to serve the Northeast and New England markets.
Industry Brief
The Interior Department’s first assessment of the shale potential of Alaska’s North Slope found the potential for up to 2 billion bbl of undiscovered, technically recoverable oil and 80 Tcf of undiscovered, technically recoverable gas, according to the U.S. Geological Survey (USGS). “We looked under the entire North Slope of Alaska,” said USGS Director Marcia McNutt, who called it a landmark study. The results will enable industry to make “good seismic decisions,” will guide their investments, said Anne Castle, assistant secretary of water and science. Alaska’s shale resources “hold great promise,” but production has never been attempted due to the infrastructure challenges, Castle noted. Three source rocks of the Alaska North Slope were assessed in the study: the Triassic Shublik Formation, the lower part of the Jurassic-Lower Cretaceous Kingak Shale, and the Cretaceous pebble shale unit-Hue Shale, according to USGS. It said those shale formations are known to have generated oil and gas that migrated into conventional accumulations, including the Prudhoe Bay field. But the shales also likely retain oil and gas that did not migrate. If the shale gas should be developed, it’s remains an open questions as to whether it could make its way to the United States, which lacks pipelines and/or a West Coast liquefied natural gas (LNG) import terminal for the gas to be delivered. The nation’s sole export terminal, located in Kenai, AK, exports LNG to Asian markets.
Sabine Pass Liquefaction Project Gets Favorable Environmental Nod
FERC Wednesday issued a favorable environmental assessment (EA) to Sabine Pass Liquefaction LLC to build facilities to liquefy and export natural gas at the existing Sabine Pass liquefied natural gas (LNG) import terminal in Cameron Parish, LA.
Quicksilver, KKR to Build Horn River Midstream Services
Quicksilver Resources Inc. and Kohlberg Kravis Roberts & Co. LP (KKR) said Tuesday they plan to jointly construct and operate natural gas midstream services to support producers operating in Canada’s Horn River Basin.
Horn River Midstream Operations to Expand
Quicksilver Resources Inc. and Kohlberg Kravis Roberts & Co. LP (KKR) said Tuesday they plan to jointly construct and operate natural gas midstream services to support producers operating in Canada’s Horn River Basin.
National Fuel’s Line N Expansion Gets FERC Nod
FERC Wednesday issued a favorable environmental assessment (EA) of National Fuel Gas Supply Corp.’s Line N 2012 expansion project that would increase the takeaway capacity from the Marcellus Shale basin to serve Northeast markets.