Hess Corp. plans to spend $5.8 billion on capital expenditures (capex) in 2014, devoting $550 million to production and development projects in the deepwater Gulf of Mexico (GOM).
Field
Articles from Field
EQT, Green Field Complete Field Gas-Only Frack Job
Appalachian operator EQT Corp. and the oilfield services company Green Field Energy Services have completed multiple hydraulic fracturing (fracking) stages using pumps powered 100% by Marcellus Shale gas at a well site.
Industry Brief
Halcon Field Services, a unit of Halcon Resources Corp., is proposing to build a storage and rail-loading terminal for Utica Shale oil at the Ohio Commerce Center industrial rail park in the village of Lordstown, in Trumbull County, OH. Plans call for four bay truck racks, a 20-rail car loading platform, and six 90,000 bbl storage tanks. The $50-$60 million project is to be completed in three phases, with the first phase expected to go into service by the end of this year. A zoning variance was recently approved to allow construction to begin.
Memorial Production Strikes Multi-Play Deal
Houston-based Memorial Production Partners LP (MEMP) has agreed to acquire oil and gas properties in the Permian Basin, East Texas and the Rockies from its sponsor, Memorial Resource Development LLC, and affiliates of Natural Gas Partners for $606 million. The deal is MEMP’s largest acquisition to date and gets the partnership’s foot in the door in the Permian and Rockies.
Air Rules Covering Horizontal Drilling Adequate, Says West Virginia DEP
The West Virginia Department of Environmental Protection (DEP) has told key state legislators that no additional requirements are needed to protect the air quality from horizontal oil and gas drilling.
Laredo Giving Permian Sole Focus
To give the growing Permian Basin its full focus, Laredo Petroleum Holdings Inc. has agreed to sell all of its Granite Wash properties in the Anadarko Basin to affiliates of EnerVest Ltd. for $438 million in cash.
Halliburton Rolls Out CNG Light-Duty Trucks
For use in its nationwide U.S. operations, Halliburton said Monday it has dispatched nearly 100 compressed natural gas (CNG)-powered light-duty trucks at several of its field locations. The original equipment manufacturers bi-fuel trucks are part of a pilot program that will touch all of its U.S. operations.
Industry Briefs
A train derailment near the town of Parkers Prairie, MN, Wednesday morning spilled 20,000-30,000 gallons of crude oil into a field, but frozen, snow-covered ground was “a saving grace” that should keep environmental damage to a minimum, a Minnesota Pollution Control Agency (MPCA) spokesman told NGI’s Shale Daily. Fourteen of the Canadian Pacific Railroad train’s 94 cars derailed and oil from three of them was leaked, the spokesman said. “They’re going to be able to recover most, if not all” of the oil, according to MPCA spokesman Dan Olson. No injuries were reported.
BLM OKs Anadarko’s Drilling Project in Wyoming
The Bureau of Land Management (BLM)’s Buffalo Field Office in Wyoming has approved Anadarko Petroleum Corp.’s Crazy Cat East oil and natural gas drilling project about 40 miles south of Buffalo in North Central Wyoming.
‘No Intentional Misconduct’ by McClendon, Says Chesapeake
Chesapeake Energy Corp. CEO Aubrey McClendon’s controversial financing transactions “did not reveal any improper benefit” to him nor did they increases costs to the company “as a result of the overlap in financial relationships,” the board of directors said Wednesday.