Baker Hughes Inc.’s North American activity is predicted to be steady this year compared with 2012, but customers still remain cautious about what’s ahead, CEO Martin Craighead said Wednesday. Canadian projects also are posing “near-term risks,” he said.
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Last-Minute Action by CFTC Delays New Energy Swaps Rules
At the 11th hour Friday, the Commodity Futures Trading Commission granted CME Group, owner of the New York Mercantile Exchange (Nymex), and IntercontinentalExchange (ICE) limited relief until Dec. 31 from the Oct. 12 deadline to register as swap dealers.
Last-Minute Action by CFTC Delays New Rules for Energy Swaps
At the 11th hour Friday, the Commodity Futures Trading Commission granted CME Group, owner of the New York Mercantile Exchange (Nymex), and IntercontinentalExchange (ICE) limited relief until Dec. 31 from the Oct. 12 deadline to register as swap dealers.
Marcellus Partner EOG Won’t Hit Drilling Target, Says Seneca
Seneca Resources Corp. has reduced its outlook in the Marcellus Shale after long-time joint venture (JV) partner EOG Resources Inc. said it didn’t expect to drill the minimum number of wells that were defined under an area of mutual interest (AMI).
Natural Gas Giving Coal An Uncertain Future, Analysts Find
After hundreds of years of being the dominant source for electrical power generation, separate reports by the commodity analysts and the media say the coal industry faces an uncertain future as natural gas prices remain low and utilities build new power plants fueled by natural gas.
Indigo: Cotton Valley Well Tests at 3,019 Boe/d
A horizontal well targeting the Cotton Valley formation in northern Louisiana recently flowed at an initial production rate of 3,019 boe/d over a 24-hour period, according to privately held producer Indigo Minerals LLC.
Consol’s Marcellus-Weighted 3P Reserves Jump 41%
Appalachian Basin producer Consol Energy Inc. said Monday its estimated proved, probable and possible (3P) reserves totaled 20.2 Tcf at the end of 2011, which was 41% higher than in 2010.
Chesapeake to Spin Off Granite Wash Royalty Trust
Chesapeake Energy Corp. has found another way to fund development for some of its abundant unconventional reserves, this time by launching an initial public offering (IPO) of a royalty trust for properties in the Anadarko Basin.
Eagle Ford Spurs More Mont Belvieu Fractionation
Enterprise Products Partners LP cited robust growth in Eagle Ford Shale liquids-rich gas production in South Texas as the rationale behind its plans to add yet more fractionation capacity at the Mont Belvieu, TX, natural gas liquids (NGL) complex.
Consol Wells Producing on Former Dominion Land
Consol Energy announced Wednesday that its plans to drill 70 wells in the Marcellus Shale play by the end of the year were slightly ahead of schedule, thanks to the 13 horizontal wells it drilled during 1Q2011.