Consultant

Big spending by Big Oil in the U.S. shale plays is leading to a big-time recovery in global upstream capital spending, according to energy consultant Wood Mackenzie.

Units of NiSource Gas Transmission & Storage (NGT&S) and MarkWest Energy Partners LP last week launched operations at a natural gas processing complex in Majorsville, WV, to serve Marcellus Shale production in the northern part of the state.

Units of NiSource Gas Transmission & Storage (NGT&S) and MarkWest Energy Partners LP have launched operations at a natural gas processing complex in Majorsville, WV, to serve Marcellus Shale production in the northern part of the state.

While some have said robust production from Lower 48 gas shales has all but doomed Arctic gas pipeline development, a Purvin & Gertz Inc. consultant believes developers that make haste and not waste can pull their projects through.

While some have said robust production from Lower 48 gas shales has all but doomed Arctic gas pipeline development, a Purvin & Gertz Inc. consultant believes developers that make haste and not waste can pull their projects through.

The energy sector is alive and well, according to Deloitte, which Thursday opened its doors in Houston to the new Deloitte Center for Energy Solutions.

More money is coming in for U.S. oil and gas producers, but a lot is going out the door to pay for exploration and production (E&P), according to a study by Ernst & Young. The consultant reported that revenue for U.S. oil and natural gas producers jumped 12% last year from 2006 levels but profits only rose 4%.

More money is coming in for U.S. oil and gas producers, but a lot is going out the door to pay for exploration and production (E&P), according to a study by Ernst & Young. The consultant reported that revenue for U.S. oil and natural gas producers jumped 12% last year from 2006 levels but profits only rose 4%.

The contribution of exploration in 2007 to the Gulf of Mexico (GOM) deepwater’s reserve base was the lowest in the past decade, according to a new report by consultant Wood Mackenzie. Reserves found amounted to only 553 million boe — less than half the reserves found in 2006.