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Chevron Betting on LNG, Deepwater Projects

Chevron Corp. is targeting a production goal of 3.3 million boe in 2017, fueled by the start-up of massive natural gas projects in Australia and new wells in the ultra-deep waters of the Gulf of Mexico, executives said Tuesday.

March 13, 2013

Tax Advantage Sought for Canadian LNG Projects

Canadian shale drillers are seeking a liquefied natural gas (LNG) counterpart to a federal corporate tax break that helped kick-start Alberta oilsands development in the 1990s.

February 18, 2013

Tax Advantage Sought for Canadian LNG Projects

Canadian shale drillers are seeking a liquefied natural gas (LNG) counterpart to a federal corporate tax break that helped kick-start Alberta oilsands development in the 1990s.

February 12, 2013

Industry Brief

Dow Chemical Co. began producing on-spec ethylene in late December at its St. Charles Olefins 2 Plant near Hahnville, LA, the company said. “The start-up of our St. Charles ethylene plant represents the first major milestone within our U.S. Gulf Coast investment strategy,” said Brian Ames, president, of Dow’s olefins, aromatics and alternatives business. “This action further reduces the company’s purchased ethylene, lowering costs and strengthening the competitiveness of our high-margin, high-growth derivatives businesses.” Restart of the plant had been previously announced and is part of the company’s plan to further connect its U.S. operations with cost-advantaged feedstocks from U.S. shale gas (see Shale Daily, Dec. 13, 2012). “Plans to increase ethylene and propylene supply and ethane cracking capabilities at existing U.S. Gulf Coast facilities strengthen the competitiveness of Dow’s performance plastics, performance products and advanced materials businesses and enable profitable growth in the Americas,” the company said. The St. Charles plant was idled in January 2009 and is now expected to deliver a $150 million increase in earnings before interest, taxes, depreciation and amortization this year.

January 8, 2013

Illinois Joins Shale Bandwagon with Bullish Report

The potential of the New Albany Shale is still unproven, industry officials said.

December 17, 2012

Range Accelerates Mississippian on Early Well Results

Range Resources Corp.’s planned five-rig drilling program for 2013 in the Mississippian Lime, which was scheduled to start up early next year, already is under way based on encouraging results from a crop of wells in the Nemaha Ridge area, the company said last week.

December 3, 2012

Range’s Mississippian Program Accelerates on Early Well Results

Range Resources Corp.’s planned five-rig drilling program for 2013 in the Mississippian Lime, which was scheduled to start up early next year, already is under way based on encouraging results from a crop of wells in the Nemaha Ridge area, the company said Thursday.

November 30, 2012

Obama Urged to Condense Energy Regulators

As the Obama administration gets ready to start its second term, now is the time for it to reevaluate how the nation’s energy policy offices can be better structured, said a Washington, DC-based think tank Tuesday.

November 28, 2012

Range COO’s Predictions: U.S. Exports of LNG, Huge NatGas Reserves

An official with Range Resources Corp. said he believes the federal government will eventually allow the export of liquefied natural gas (LNG) but cautioned that the industry shouldn’t be complacent and just assume exports will be approved.

November 19, 2012

Helmerich’s Land-Rig Migration to Horizontal Almost Complete

Riding high on record profits and continuing efficiencies, the contract drilling sector nevertheless faces uncertainties during the first half of next year that require patience and flexibility, said the CEO of Tulsa-based Helmerich & Payne Inc. (HP).

November 16, 2012