George Phydias Mitchell, 94, who is credited with pioneering unconventional drilling techniques that have opened up North America’s natural gas and oil potential, died Friday at his home in Galveston, TX.
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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.
BOP May Have Ignited Offshore Gas Well
Federal regulators, working with Walter Oil & Gas Corp., said Friday they were continuing to oversee and coordinate response efforts to secure the producer’s South Timbalier Block 220 natural gas well in the shallow Gulf of Mexico (GOM), which blew out last Tuesday and ignited a fire later that night.
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.
Goodrich Growing TMS, Cutting Costs
Goodrich Petroleum Corp. is buying a 66.7% working interest in producing assets and about 277,000 gross acres in the Tuscaloosa Marine Shale (TMS) for $26.7 million as it continues to build scale in the play and improve its drilling performance.
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.
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%.
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.
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.
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.