The Permian Basin, as well as the Eagle Ford and Bakken shales, which today are considered the “big three” drivers of U.S. oil production, would remain economic at current costs if West Texas Intermediate (WTI) crude oil prices were to fall to $65/bbl, according to an analysis by Raymond James & Associates Inc. In fact, 13 of 20 onshore oil plays evaluated would breakeven below $65 using current costs, said analysts.
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NiSource, Hilcorp Partner in Utica Midstream, Upstream Ventures
NiSource Inc. has clinched two joint ventures (JV) in the Utica Shale with Hilcorp Energy Co. to construct midstream facilities and to develop a “significant acreage block” in the Utica/Point Pleasant formation in northeast Ohio and western Pennsylvania.
Michigan Reviewing Encana-Chesapeake Allegations
The Michigan Department of Natural Resources (DNR) has begun working with the state’s Attorney General’s Office to review allegations that Chesapeake Energy Corp. and Encana Corp. worked together to avoid competing in state lease auctions two years ago.
Gulf Coast Propane Unit to Capitalize on Shale NGLs
Enterprise Products Partners LP plans to build one of the world’s largest propane dehydrogenation (PDH) units on the Texas Gulf Coast to take advantage of abundant supplies of propane thrown off by shale gas plays and to address periodic shortages of propylene in the region.
Enterprise Plans Propane Unit to Capitalize on Shale NGLs
Enterprise Products Partners LP plans to build one of the world’s largest propane dehydrogenation (PDH) units on the Texas Gulf Coast to take advantage of abundant supplies of propane thrown off by shale gas plays and to address periodic shortages of propylene in the region.
Gasco’s Updated Uinta Basin Plans Get BLM Nod
The Bureau of Land Management (BLM) has approved Gasco Energy Inc.’s proposal to develop nearly 1,300 natural gas wells over 15 years in Utah’s Uinta Basin, the agency said Monday.
TCEQ Planning Barnett Shale Permitting Rule Changes
The Texas Commission on Environmental Quality (TCEQ) is considering revisions to requirements for the Air Quality Standard Permit for Oil and Gas Handling and Production Facilities, which are used to authorize oil and gas facilities in the Barnett Shale of North-Central Texas.
Bakken/Three Forks Oil Transport Capacity Grows
Rangeland Energy LLC’s COLT facility — North Dakota’s largest open-access crude oil marketing terminal, according to the company — has begun serving Bakken and Three Forks shale oil producers, the company said Monday.
Pennsylvania Families Allege Water Contamination, Conspiracy
Three families in western Pennsylvania have filed a lawsuit against 17 defendants, including an operator for Range Resources Corp. and two independent water testing labs, alleging that a drilling and impoundment site caused health problems. The plaintiffs also accused Range and the labs of conspiring to hide evidence of drinking water contamination.
EIA: Pennsylvania Drilling Map Redrawn by Marcellus Shale
The expanded use of horizontal drilling and the advent of hydraulic fracturing helped Pennsylvania more than quadruple its natural gas production between 2009 and 2011, according to the U.S. Energy Information Administration (EIA).