BP plc won’t be able to collect from Halliburton Co. any of the cleanup costs and economic losses that resulted from the Macondo well blowout in 2010 in the deepwater Gulf of Mexico (GOM), a district judge in New Orleans has ruled. U.S. District Judge Carl Barbier, who is to oversee a Macondo trial beginning later this month, in January made a similar ruling for Transocean Ltd. BP filed a lawsuit last year to recover from Halliburton, Transocean Ltd. and Cameron International some of the estimated $40 billion in costs and losses that followed the well explosion (see NGI, April 25, 2011) The case is In re: Oil Spill by the Oil Rig “Deepwater Horizon” in the Gulf of Mexico, on April 20, 2010, U.S. District Court, Eastern District of Louisiana, No. 10-md-02179. Halliburton was the well cementing contractor, Transocean owned the Deepwater Horizon drilling rig and Cameron manufactured the blowout preventer for the Macondo well. Cameron and BP settled their lawsuit in December (see NGI, Dec. 19, 2011). On Feb. 27 the litigants are scheduled to meet in New Orleans where Barbier is to preside over the initial BP spill trial.
Economic
Articles from Economic
Will Low Gas Prices Prompt Shut-ins? Maybe, Maybe Not
With natural gas prices at their lowest level in years, U.S. explorers will have to stop drilling for economic reasons, right? Anadarko Petroleum Corp. CEO Jim Hackett said he thinks shut-ins are inevitable. Energy analysts with Barclays Capital Markets aren’t so sure.
Will Low Gas Prices Prompt Shut-ins? Maybe, Maybe Not
With natural gas prices at their lowest level in years, U.S. explorers will have to stop drilling for economic reasons, right? Anadarko Petroleum Corp. CEO Jim Hackett said he thinks shut-ins are inevitable. Energy analysts with Barclays Capital Markets aren’t so sure.
Severance Tax Discussions Begin in Maryland
A Maryland panel is recommending that the state impose both a fee and a tax on shale gas development, as well as shift more costs to industry, but it did not propose specific details for any changes.
BLM to Hold Utah Sage Grouse Meetings
Having outlined guidelines for balancing sage grouse and economic protections, the federal Bureau of Land Management (BLM) Monday said it will conduct a series of eight scoping meetings in Utah Jan. 17-Feb. 1 to gain feedback on an environmental impact statement (EIS).
Eagle Ford An Employment Plus for South Texas
The oil and gas industry in the Eagle Ford Shale is growing so much that it is helping to create “entire communities” in some areas of South Texas, according to Kevin Robins, general manager of Job News USA in San Antonio.
Analysts: Shale Will Be Top Source For Natgas in U.S. by 2030
Energy analysts predict more than 50% of the natural gas produced in the United States will come from shale by the year 2030, coupled with a rising demand for natural gas in power generation and an opportunity to export to world markets.
Researchers: North Carolina Should Weigh Drilling, Fracking Risks
Lawmakers in North Carolina should consider several health and environmental measures as they weigh the legalization of horizontal drilling and hydraulic fracturing (fracking) in their state, researchers at Duke University said in a new report.
Despite Delays, Keystone to Get OK, TransCanada CEO Says
Despite last Thursday’s announced delay in U.S. State Department processing and earlier criticisms of inflated economic benefits from the project (see Shale Daily, Nov. 9), the Keystone XL oil pipeline from Alberta, Canada to the U.S. Gulf of Mexico ultimately should be approved, according to project sponsor TransCanada.
Judge to Rule Within 60 Days on New York Town Drilling Ban
A judge in New York State is expected to rule within 60 days if the Town of Dryden, NY, overstepped its authority when it enacted an ordinance and a zoning requirement this past summer banning all oil and gas development activities.
