Basins

Before Southern California was a sprawling megalopolis of 20 million people it was one of the largest fossil fuel basins in the world, and with global oil prices approaching $150/bbl, the region’s lightly drilled or previously abandoned fields are being eyed for a lot of new drilling activity. This prospect has stirred concerns among many residential communities that surround still-producing fields in parts of southeast and west Los Angeles County, Long Beach and the Ventura area northwest of the city of Los Angeles.

Growing gas production from unconventional basins in Texas, Oklahoma and Arkansas as well as the still-anticipated influx of large volumes of liquefied natural gas (LNG) on the Gulf Coast launched aggressive efforts by gas storage developers to expand existing and construct new facilities. Trouble is, according to one consultant, there may be more storage withdrawal capacity than there is pipeline capacity to handle it.

Growing gas production from unconventional basins in Texas, Oklahoma and Arkansas as well as the still-anticipated influx of large volumes of liquefied natural gas (LNG) on the Gulf Coast launched aggressive efforts by gas storage developers to expand existing and construct new facilities. Trouble is, according to one consultant, there may be more storage withdrawal capacity than there is pipeline capacity to handle it.

Nearly all of the deep natural gas resources more than 18,000 feet beneath Canada’s basins remain untouched, which may result in some “tremendous” opportunities in the years to come, an Apache Corp. executive said last week.

Nearly all of the deep natural gas resources more than 18,000 feet beneath Canada’s basins remain untouched, which may result in some “tremendous” opportunities in the years to come, an Apache Corp. executive said Wednesday.

ConocoPhillips CEO Jim Mulva Thursday cautioned Congress about imposing new taxes on oil and natural gas producers, which he said would discourage production in U.S. basins on- and offshore.

It’s going to take a village to determine and implement best management practices to protect sage grouse residing in Wyoming’s resource production basins, and the stakes are high for the energy industry as well as the bird. This was the theme of discussion at Wyoming Gov. Dave Freudenthal’s Sage Grouse Summit held late last month in Casper.

It’s going to take a village to determine and implement best management practices to protect sage grouse residing in Wyoming’s resource production basins, and the stakes are high for the energy industry as well as the bird. This was the theme of discussion at Wyoming Gov. Dave Freudenthal’s Sage Grouse Summit held late last month in Casper.

The re-connection of western supply basins to eastern markets by the massive Rockies Express (REX) and other pipeline projects (see related story) and the “somewhat delayed” arrival of more liquefied natural gas (LNG) imports suggests higher Henry Hub prices and “reasonable” western region locational basis, both of which will continue to facilitate development of domestic resources, according to Wood Mackenzie.