Europe

Global LNG Market Limited, Say Experts

The Marcellus Shale is a “solidly economic” shale play that could play a big role in liquefied natural gas (LNG) exports from the United States to Europe and Asia, but regulatory hurdles, stiff competition and market forces are all significant obstacles, according to two energy industry experts.

November 26, 2012

Riverstone Boosts Three Rivers’ Acquisition Plans in Permian

Private equity power broker Riverstone Holdings LLC announced Monday that it has made an investment in Three Rivers Operating Co. LLC, which in turn has signed an agreement to buy several assets in the Permian Basin of West Texas from Meritage Energy Company LLC.

August 14, 2012

Riverstone, Meritage Pursue More North American Midstream Ventures

Meritage Midstream Services LLC and private equity power broker Riverstone Holdings LLC on Wednesday said they were teaming up once again, with Riverstone providing $500 million to pursue new natural gas liquids (NGL) midstream opportunities in some of North America’s emerging resource plays.

July 20, 2012

EIA: LNG Exports Would Hike Gas Costs 3-9%

If the Lower 48 states were to export liquefied domestic gas to markets such as Asia and Europe — most likely from the Gulf Coast region — it would mean higher gas prices for U.S. consumers, more domestic gas production along with reduced domestic consumption and an increase in pipeline gas imports from Canada, according to a government analysis.

January 23, 2012

EIA: LNG Exports Would Boost Gas Bills 3-9%

If the Lower 48 states were to export liquefied domestic gas to markets such as Asia and Europe — most likely from the Gulf Coast region — it would mean higher gas prices for U.S. consumers, more domestic gas production along with reduced domestic consumption and an increase in pipeline gas imports from Canada, according to a government analysis.

January 20, 2012

Bakken Shale Latest Target for Breitling Oil and Gas

The Bakken Shale and underlying Three Forks formation in North Dakota are the latest targets for independent exploration and production company Breitling Oil and Gas Corp., which in 2011 reported progress in oil and gas projects in its focus areas in Texas, Oklahoma and Louisiana.

January 3, 2012

Industry Briefs

Magnum Hunter Resources Corp. is raising its production guidance for this year and next year based upon better-than-expected well results, according to the Houston-based company. Magnum Hunter is currently producing 12,500 boe/d, compared to its 10,000 boe/d guidance for the year. The company expects to close out 2012 producing 14,500 boe/d, up from its previous projection of 13,000 boe/d. Magnum Hunter operates in the Marcellus, Eagle Ford and Bakken shales. “We are very fortunate to have three resource plays within our portfolio that are now ‘hitting on all cylinders’ and providing an increase in our overall production levels well above expectations,” said CEO Gary C. Evans. “This is especially rewarding when our management team has been able to achieve these milestones while also staying within our original capital budget plan.”

December 28, 2011

Industry Briefs

Emergency responders were wrapping up their work Thursday afternoon at the site of a reported explosion at a drilling rig in the Eagle Ford Shale in Falls City in Karnes County, TX. According to press reports, two people had been hospitalized. The explosion reportedly occurred just before noon. The Karnes County sheriff was not available for comment, but a deputy said at 2:30 CDT that crews were preparing to leave the scene. The rig was reported to be targeting oil; the name of its owner/operator was not available at press time. Texas Department of Public Safety spokesman Jason Reyes told the San Antonio Express-News that a truck driver who was transferring oil was injured when a truck was set on fire and ignited the explosion. The driver received second- and third-degree burns, he said. In a separate incident Monday night an explosion and fire occurred at a Continental Resources natural gas well in Oklahoma; there were no injuries (see Daily GPI, Sept. 21).

September 23, 2011

CERAWeek: Petchem Sector Shifting with the Shales

Success at extracting natural gas and natural gas liquids (NGL) from North American shales has turned the conversation about NGLs and the U.S. petrochemical industry around 180 degrees. The abundance of feedstock and fuel coming from shale plays has caught the attention of the petrochemical industry, but still more confidence is needed before the real investment can begin.

March 11, 2011

Chilean Rescue Facilitated With Pennsylvania Drilling Rigs and Bits

Drilling products manufactured by two Pennsylvania companies, Center Rock Inc. of Berlin in southwestern Pennsylvania and Schramm Inc. of West Chester, near Philadelphia, were instrumental in the rescue Wednesday of 33 Chilean miners trapped for more two months in an underground mine.

October 19, 2010