Oilfield technology specialist National Oilwell Varco Inc. (NOV) is facing “logistical challenges” in North America’s onshore near-term, as customers delay buying equipment and from rising material costs, including for steel, CEO Clay Williams said Friday.
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The Department of Interior plans to prioritize conservation of a mule deer migration corridor in southwest Wyoming through both deferred oil and gas lease sales and lease stipulations, Secretary Ryan Zinke and Wyoming Gov. Matt Mead said Wednesday.
The U.S. Bureau of Land Management (BLM) said seven state offices collectively generated $170.7 million in bonus bids from oil and natural gas lease sales during 3Q2017. The sales covered 218 parcels consisting of more than 134,800 acres. New Mexico had the largest sale with more than $130 million, while Wyoming garnered $38.7 million. Other states generated under $1 million each. The 20 of 29 scheduled onshore lease sales in 2017 have brought in $316.2 million in bonus bids, versus 20 in 2016 that produced $192.5 million. BLM officials said oil and gas development on federally managed lands in the last fiscal year supported 201,000 jobs and $42 billion in economic output.
Natural gas sales heated up across North America in the first three months of the year, raising volumes and prices of flows between Canada, the United States and Mexico, according to the U.S. Department of Energy (DOE).
Pledging to make the Interior Department “a better neighbor in the new Trump administration,” Secretary Ryan Zinke issued a secretarial order (SO) on Thursday that calls for streamlining the permitting process for drilling on federal lands.
The Interior Department’s Bureau of Ocean Energy Management (BOEM) this week awarded 153 tracts to companies that bid in March to explore for oil and natural gas in the Gulf of Mexico (GOM), but 10 high bids were rejected.
The Bureau of Land Management (BLM), which found success in its first online lease auction last month, has rescheduled four other lease sale auctions that were to be conducted in coming weeks to instead be held online in December.
In an effort to modernize its oil and gas program, the Bureau of Land Management (BLM) said it will conduct lease sales online beginning next month.