The growing abundance of shale gas and liquids production is leading to a “paradigm shift” in the global oilfield services industry that should lead to business growth over the next two years, especially in the U.S. land market, FBR Capital analysts said in a new report.
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RRC Staff: Strawn Formation, Not Range, ‘Most Likely’ Culprit
Whether Range Resources unit Range Production Co. drilling in the Barnett Shale caused alleged water well contamination is a tough call, but it can be made on the evidence available, staff of the Railroad Commission of Texas (RRC) told hearing examiners in its closing statement on the case Tuesday.
Study of Macondo Blast Finds Lack of Consideration for Risks, Safety
An investigation into the cause of the blowout of BP plc’s Macondo well in the Gulf of Mexico and the sinking of the Deepwater Horizon drilling rig “suggest[s] the lack of a suitable approach for managing the inherent risks, uncertainties and dangers associated with deepwater drilling operations and a failure to learn from previous ‘near misses,'” according to preliminary findings by a committee of the National Academy of Engineering and National Research Council.
China Could Have Its Own Shale Revolution
An abundance of shale natural gas reserves in China could one day cause the country to turn away from pipeline imports and liquefied natural gas (LNG), suggested analysts at Barclays Capital. But China must unlock the secrets of its shales and develop infrastructure to move the gas produced, both of which will delay any shale revolution in the People’s Republic.
Study of Macondo Blast Finds Lack of Consideration for Risks, Safety
An investigation into the cause of the blowout of BP plc’s Macondo well in the Gulf of Mexico and the sinking of the Deepwater Horizon drilling rig “suggest[s] the lack of a suitable approach for managing the inherent risks, uncertainties and dangers associated with deepwater drilling operations and a failure to learn from previous ‘near misses,'” according to preliminary findings by a committee of the National Academy of Engineering and National Research Council.
Shale Gas: Plenty of Reasons to Drill Holes in China
An abundance of shale natural gas reserves in China could one day cause the country to turn away from pipeline imports and liquefied natural gas (LNG), suggested analysts at Barclays Capital. But China must unlock the secrets of its shales and develop infrastructure to move the gas produced, both of which will delay any shale revolution in the People’s Republic.
PG&E, CPUC Reassure Residents as Feds Ponder Pipe Blast
Leaving the job of finding the cause of last Thursday’s San Bruno pipeline disaster to federal investigators, California’s lead utility regulator and Pacific Gas and Electric Co. (PG&E) assured energy utility customers that everything is being done for the victims and public safety.
Limited Heat Softens Prices at Nearly All Points
The previous day’s dime drop by prompt-month futures combined with relatively moderate peak temperatures in several market areas to cause price declines at a large majority of locations Tuesday.
Obama Moves to Establish Oil Spill Commission
A presidential commission to explore the cause of the recent blowout and on-going oil spill in the Gulf of Mexico (GOM), safety and environmental regulations that govern offshore production, and the relationship between the Minerals Management Service (MMS) and producers will be created by President Obama, Interior Secretary Ken Salazar told a Senate energy committee last week.
Nearly All Locations Record Fairly Small Losses
As a marketer had predicted a day earlier, the 6.2-cent drop by futures combined with a lack of heating load in nearly all areas would be sufficient to cause mostly small losses in the cash market Tuesday.