Westlake Chemical Corp. enjoyed record fourth quarter and full year results last year, driven in large part by lower ethylene feedstock costs resulting from the abundant supply of natural gas liquids (NGL) coming out of North American shale plays, CEO Albert Chao told analysts during a conference call Tuesday.
August
Articles from August
ATP Prepares to Auction GOM Shelf Properties
Gulf of Mexico (GOM) operator ATP Oil & Gas Corp., which filed for bankruptcy protection last August, has asked the court for permission to auction some of its shallow-water wells.
Three U.S. Shale Plays Lift Marathon Earnings, Output
Marathon Oil Corp.’s third quarter profits jumped 11% year/year on strong revenue growth and increased production, especially from the Eagle Ford Shale.
Colorado Considers Drilling Setback Rule Changes
The Colorado Oil and Gas Conservation Commission (COGCC) is considering three new setback zones for drilling based on the distance from a wellhead or production facility to the nearest occupied building.
Internal Investigation Clears Encana of Collusion
Encana Corp.’s board of directors has concluded that the producer did not collude with “competitors” on land leasing in Michigan two years ago.
Pennsylvania DEP Opens Expedited Permit Process to Public Comment
The Pennsylvania Department of Environmental Protection (DEP) said Thursday it will publish a draft version of new guidelines intended to expedite the drilling permit application process. DEP will accept public comments on its proposals until Oct. 1.
FERC to Focus on 2011 Southwest Outages, Curtailments
FERC Monday said it is holding a technical conference in late September to discuss actions that industry has taken in response to an August 2011 report on the weather-driven power outages and natural gas curtailments in early 2011.
FERC Considering Ways to Mesh Natural Gas-Power Grids
Responding to suggestions from the energy industry, FERC on Tuesday announced that it is planning five conferences in August to explore the growing interdependence between the North American natural gas and electricity grids. The technical sessions are labeled as a way to improve coordination of the gas and power markets.
Bakken/Three Forks Oil Transport Capacity Grows
Rangeland Energy LLC’s COLT facility — North Dakota’s largest open-access crude oil marketing terminal, according to the company — has begun serving Bakken and Three Forks shale oil producers, the company said Monday.
People
The Texas Commission on Environmental Quality (TCEQ) appointed Zak Covar executive director for the agency effective May 1. Covar has served as deputy executive director since August 2009. He succeeds Mark Vickery, who is retiring from state government after 25 years of service. From 2005 to 2007, Covar worked as the environmental and natural resource adviser to Gov. Rick Perry and was responsible for advising the governor and senior staff on all major budget and policy issues pertaining to the TCEQ, the Railroad Commission of Texas and Texas Parks and Wildlife.