Steel manufacturer Nucor Corp. said it will spend more than $700 million during a two-year period on natural gas drilling in order to meet its contractual obligations with Encana Corp. for a supply of low-cost natural gas.
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North American exploration and production (E&P) companies will, over the next few weeks, unveil their earnings and operations results for the second quarter, but analysts aren’t expecting any big upside surprises. Instead, they hope for details on Marcellus Shale pricing, emerging sweet spots in the Utica Shale and details about wells in several big onshore basins.
The capital markets for U.S. exploration and production (E&P) companies “appear wide open,” with most of the available funds likely to target onshore oil instead of natural gas through 2014, Barclays Capital analysts said on Wednesday.
Rex Energy Corp. said it has seen “impressive” results so far from its first three wells in the Warrior South prospect, an area in Ohio’s portion of the Utica Shale.
GreenHunter Water LLC has begun to process complex oilfield waste streams at its bulk storage and barge transloading terminal in New Matamoras, OH, the GreenHunter Resources Inc. subsidiary said Friday.
The House Friday passed legislation that would open more federal waters to oil and natural gas exploration and production, but the bill has next to no chance of advancing in the Senate and being signed into law by President Obama.
Railroad Commission of Texas (RRC) Chairman Barry Smitherman plans to run for Texas attorney general (AG) next year, but only if current AG and fellow conservative Greg Abbott does not seek re-election. An AG’s office headed by Smitherman would be pro-drilling and a staunch opponent of federal Environmental Protection Agency (EPA) regulation.
BP plc’s Alaska presence will become more visible over the next five years as the oil major pours an additional $1 billion into natural gas and oil development on the North Slope with a to-do list that includes more drilling rigs and more workers.