A wide variety of outcomes are possible when contemplating the likelihood that an oil or natural gas injection well could increase the chance of seismic activity, including the possibility of not operating the well at all, according to a draft report by a U.S. Environmental Protection Agency’s (EPA) workgroup.
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Consol JV Cracks Upper Devonian Code
Consol Energy has drilled its first Upper Devonian Shale well, in Greene County, PA, with results that bode well for the 300,000 acres it controls with commercial Upper Devonian potential.
World Energy Use to Increase 56% by 2040, NatGas by 64%
World energy consumption will increase by 56% between 2010 and 2040, driven largely by increased demand from developing countries, according to the International Energy Outlook 2013 (IEO2013), which was released last Thursday by the Energy Information Administration (EIA). It sees global natural gas demand increasing by 64%.
Cabot Sees More Marcellus Market Connections Coming
Thanks to the Marcellus Shale, Houston-based Cabot Oil & Gas Corp. recently completed the best quarter in its history on an operational and financial basis, said CEO Dan Dinges. The company is adding a sixth rig in the play as it anticipates multiple infrastructure projects will come online in the months ahead, increasing the ability to get its gas to markets.
Uncertainty Stalling Northwest NatGas Demand Growth
Industry executives who recently offered Oregon regulators an updated natural gas outlook for the Pacific Northwest said they see faint signs of potential added gas-fired industrial loads taking shape, but flat near-term demand projections nevertheless dominated their forecasts.
Encana Reverses Losses, Plans Revamped Onshore Strategy
With solid second quarter results in the books, Encana Corp. is taking a look at its entire North American portfolio and has begun putting a “new emphasis on our portfolio of emerging liquids plays,” newly installed CEO Doug Suttles told investors last week.
Pad Drilling Half of U.S. Market, Says Halliburton
Almost half of the drilling in the U.S. onshore now is being done on multi-well pads, further moving attention from the rig and well count and more to horizontal footage drilled and the number of fractured stages per well, Halliburton Co. CEO Dave Lesar said last week.
Freeport Contemplating Budget Cuts, Sales, Partners
After gaining access earlier this year to a big bundle of onshore and offshore opportunities in the United States, Freeport-McMoRan Copper & Gold Inc. now is reworking its strategy to relieve the cost burden and increase production, top executives said last week.
North American Drilling Market ‘Uninspiring,’ Says Nabors CEO
Nabors Industries Inc., the largest onshore drilling fleet operator and the biggest supplier of pressure pumping equipment, is not optimistic about seeing gains in the U.S. oil or gas patch through the rest of this year, CEO Tony Petrello said Wednesday.
ERCOT Preparing for More Gas-Fired Power
Last year, natural gas-fueled plants accounted for 57% of the generating capacity in the Electric Reliability Council of Texas (ERCOT) and more than 44% of energy use. As the reliance on gas-fired power grows, ERCOT is working with other organizations to protect against and prepare for a large-scale system-wide blackout.