Risk

Dry natural gas production in the United States, boosted by stronger pipeline flows from the Marcellus Shale, led Goldman Sachs analysts on Monday to revise their forecasts down for prices and lift expectations for end-of-summer storage levels.

Complying with the Bureau of Land Management (BLM) proposed hydraulic fracturing (fracking) rulemaking for drilling on public lands would cost as much as $180,250/well, or $370 million annually, according to economists with Oklahoma City University (OCU).

ExxonMobil Corp.’s quest to remain the biggest operator in the Ardmore Basin’s Woodford Shale remains on track after the super major agreed to pay $147.5 million to buy the bulk of BNK Petroleum Inc.’s leasehold in the Tishomingo Field.

If left unaddressed, pipeline shortfalls will put Canada’s oil industry at risk and will have “substantial negative impact” on the country’s economy, according to a report issued by the Canada West Foundation (CWF).

U.S. natural gas prices for 2013 will be lower than predicted in late October because winter weather so far has been missing in action, Raymond James & Associates’ energy team said this week. Analysts with Goldman Sachs also have reduced their price forecast but said they remain bullish on the market.

An 11-month investigation into an Alberta drilling mishap has confirmed that hydraulic fracturing (fracking) poses a unique fluid spill risk and prompted regulatory steps to control the danger.

An 11-month investigation into an Alberta drilling mishap has confirmed that hydraulic fracturing (fracking) poses a unique fluid spill risk and prompted regulatory steps to control the danger.

As the federal government and industry players pay more attention to the issue, cyber security problems lurk for the oil and natural gas industry, and greater levels of risk assessment and a “new way of thinking” about information security are needed, according to a global survey released Monday by PricewaterhouseCoopers (PwC).

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.