Domestic

With one-third of its global energy reserves in the U.S. onshore, BP plc is preparing to do battle with shale-focused independents by separating its domestic operations, management said Tuesday.

It is unlikely that the Obama administration will allow the wholesale export of U.S. crude oil, but there is more wiggle room under current law to allow for incremental and/or targeted export of domestic crude than many realize, an energy lawyer told a Houston audience.

Produced volumes of U.S. shale gas will be bigger than conventional gas resources ever were or will be, BP plc’s chief economist said Wednesday.

The U.S. Chamber of Commerce said Wednesday one of the “key parts” of its 2014 strategy is to “advance and protect America’s energy revolution” through the production of more domestic energy, the improvement of infrastructure and the modernization of the government’s regulatory process.

The United States is on track to become net oil independent by 2020, if production continues on its current path in the Permian and Williston basins, and in the Eagle Ford, Raymond James & Associates Inc. analysts said Monday.

As volume targets grow, liquefied natural gas (LNG) developers are urging Canada’s National Energy Board (NEB) to resist trying to reserve stockpiles for Canadians by shooting down export projects.

The move to horizontal drilling and longer laterals has made the domestic land rig count not so simple anymore, leading Raymond James & Associates Inc. last week to launch well and footage count forecasts.

The move to horizontal drilling and longer laterals has made the domestic land rig count not so simple anymore, leading Raymond James & Associates Inc. on Monday to launch well and footage count forecasts.

U.S. domestic crude oil production is at its highest level in 20 years, outstripping pipeline capacity and, increasingly, making its way to refineries and storage centers via railroads, according to the Energy Information Administration (EIA).