With Imports Up, U.S. Crude Inventories Climb a Second Week

With Imports Up, U.S. Crude Inventories Climb a Second Week

Domestic petroleum demand rose last week, but strong crude production and imports ended up driving U.S. inventory gains for a second straight week, the Energy Information Administration (EIA) said. EIA’s Weekly Petroleum Status Report, released Wednesday, showed production climbed to 11.3 million b/d for the week ended Oct. 1, up from 11.1 million b/d the…

October 6, 2021

Conservancy Group Offers Guidance in Backing Utica Development

The Western Reserve Land Conservancy (WRLC) is voicing support for Utica Shale development, including hydraulic fracturing (fracking), but it wants to see the industry, landowners and other stakeholders come to an agreement over developing the eastern Ohio portion of the play, the CEO said.

July 22, 2013

Conservancy Group Advocating Cooperation in Utica Shale

The head of the Western Reserve Land Conservancy (WRLC) said the organization is not opposed to Utica Shale development and hydraulic fracturing (fracking), but wants to see the industry, landowners and other stakeholders come to an agreement over developing eastern Ohio’s portion of the play.

July 16, 2013

Industry Brief

A recently combined and publicly held exploration and development company, Salt Lake City-based Richfield Oil and Gas Co., announced a purchase in the Graham Reservoir oilfield in Uinta County, WY. Richfield bought a shut-in well in the Wasatch National Forest (Well #16-15) from Frontier Energy for $610,000, including 640 acres of mineral leases. The company said the purchase gives it 100% working interest in a mineral lease in the Graham Reservoir, located approximately 120 miles northeast of Salt Lake City in southeastern Wyoming. The well has been shut in since 2003 and was completed in the Dakota Formation at 15,600 feet. Flow testing and production operations will get underway later in the first quarter. For Richfield, which is the product of the merger of Hewitt Petroleum Inc. and Freedom Oil & Gas Inc. in 2011, the acquisition is part of the process of “methodically building our reserve and production base” through graded acquisitions,” said CEO Douglas Hewitt.

January 16, 2013

Britain Clears Way for Fracking

With the introduction of new risk controls, the British government has cleared the way for hydraulic fracturing (fracking) to resume in the country where the shale gas reserve could be 4.2 Tcf, according to one estimate.

December 17, 2012
Bakken’s Largest Leaseholder Raises Estimates 57%

Bakken’s Largest Leaseholder Raises Estimates 57%

Oklahoma City-based Continental Resources Inc., the Bakken’s largest leaseholder, said Monday it has raised its reserves estimates for parts of the Bakken Three Forks area by 57% to 903 billion bbl following completion of an initial test well.

December 5, 2012

Feds Laud ‘Robust’ Shale Activity

The Federal Reserve Board (FRB) said in the latest edition of its “Beige Book” that activity in the energy industry was a mixed bag and mentioned shale only once — but in a positive light. The report is published eight times a year with data provided by the 12 FRB districts.

December 3, 2012
Triangle Petroleum, First Reserve Form Bakken Midstream JV

Triangle Petroleum, First Reserve Form Bakken Midstream JV

Caliber Midstream Partners LP, a joint venture (JV) formed by Triangle Petroleum Corp. and First Reserve Corp.’s Energy Infrastructure Fund (FREIF), will focus on midstream and infrastructure opportunities in the Williston Basin of North Dakota and Montana, Triangle said Monday.

October 2, 2012

BLM Alaska Issues Call to Gauge Interest in NPR-A Lease Sale

Interior’s Bureau of Land Management (BLM) office in Alaska has issued a call for nominations and comments on tracts for oil and leases to be offered in the National Petroleum Reserve in Alaska (NPR-A) in November. The notice, which was published in the Federal Register (FR) Tuesday, is subject to a 45-day comment period.

May 17, 2012

Oil In the Ascent at Carrizo Oil & Gas

Last year saw a transformation at Houston-based Carrizo Oil & Gas Inc. as the company shifted from deriving its revenue mostly from natural gas to an equal reliance upon revenue from oil production, CEO Chip Johnson told financial analysts Tuesday. “We expect this trend to continue for the entire year of 2012 as we become increasingly weighted toward oil production,” he said.

March 1, 2012
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