Fourth

Devon Writes Down Almost $900M on Low Natural Gas Prices

Weak natural gas prices forced Devon Energy Corp. to write down almost $900 million in the value of its assets in the fourth quarter, the Oklahoma City-based operator said Wednesday.

February 21, 2013
Shale’s Ethane Boom Gives Westlake Chemical Advantage

Shale’s Ethane Boom Gives Westlake Chemical Advantage

Westlake Chemical Corp. enjoyed record fourth quarter and full year results last year, driven in large part by lower ethylene feedstock costs resulting from the abundant supply of natural gas liquids (NGL) coming out of North American shale plays, CEO Albert Chao told analysts during a conference call Tuesday.

February 20, 2013

Apache Tops Output Records, U.S. NatGas Volumes Rise

Apache Corp. topped its overall production record for the fourth consecutive year, the company’s management team said Thursday. Average daily production in 2012 increased to 779,000 boe/d, up 5.4% year/year. Despite the impact of substantially lower Canadian natural gas prices, revenues for the year hit a record $16.9 billion.

February 15, 2013

Investors Again Call on E&Ps to Disclose Drilling Risks

Investor groups for the fourth year in a row are urging some of the largest natural gas and oil producers in the United States to disclose information about how the risks involved with unconventional drilling operations are managed and measured. Some explorers also have been called on to disclose fugitive emissions from natural gas transmission.

February 11, 2013

Industry Brief

California air quality officials reported that for the fourth consecutive year carbon emissions from power plants in the state have declined dramatically. A full-year figure for 2012 is still being calculated, according to the California Air Resources Board (CARB), which is the lead agency implementing the state’s precedent-setting 2006 climate change law (AB 32). As measured by CARB, power plant carbon dioxide equivalent (CO2e) emissions in 2011 totaled 34.9 million metric tons of CO2e (MTCO2e), compared to 52.3 million MTCO2e four years earlier. Subsequently, the totals dropped to 49.3 million MTCO2e in 2009 and down further to 44.6 million MTCO2e in 2010. Power plants are the biggest stationary source of MTCO2e emissions, followed by refineries and hydrogen plants, whose total emissions are also down compared to 2008 but have steadily risen during the last three recorded years (2009-2011).

February 8, 2013

Investors Call on E&Ps Once Again to Disclose Drilling Risks

Investor groups for the fourth year in a row are urging some of the largest natural gas and oil producers in the United States to disclose information about how the risks involved with unconventional drilling operations are managed and measured. Some explorers also have been called on to disclose fugitive emissions from natural gas transmission.

February 7, 2013

U.S. Natural Gas Producers Again Asked to Disclose Drilling Risks

For the fourth year in a row, investor groups are calling on leading U.S. natural gas producers to disclose information about how they manage and measure the risks associated with unconventional drilling operations. Some explorers also were urged to disclose fugitive emissions from gas transmission.

February 7, 2013

Industry Briefs

Natural gas drilling continued to decline in the fourth quarter, despite an uptick in exploratory drilling, the American Petroleum Institute (API) said in a report on well completions. “In the year-to-date comparison, gas well completions have decreased 26%” to 9,752 wells in 2012 from 13,128 wells in 2011. At the same time, oil well drilling rose, with exploratory and development wells showing a 15% and 16% increase respectively from 4Q2011 numbers. “The oil and natural gas industry expanded oil drilling in 2012, thanks in large part to access on private and state lands,” said API Statistics Director Hazem Arafa. A year-to-date comparison of oil wells drilled yields a 25% increase in total well completions between 2011 and 2012 (26,213 to 32,652).

January 21, 2013

EPA Delays Pavillion Report Again, Seeks More Public Comment

For the fourth time, the U.S. Environmental Protection Agency (EPA) has extended the public comment period for its investigation into groundwater contamination near Pavillion, WY, this time until Sept. 30.

January 14, 2013

EPA Seeks More Public Comment, Delays Pavillion Report Again

For the fourth time, the U.S. Environmental Protection Agency (EPA) has extended the public comment period for its investigation into groundwater contamination near Pavillion, WY, this time until Sept. 30.

January 14, 2013