Newfield Exploration Co. Thursday raised its 2011 capital budget to $1.9 billion from $1.7 billion set at the beginning of the year. The increase largely relates to leasing in “an undisclosed resource play,” said CEO Lee Boothby during a conference call with financial analysts.
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Hydrofracking Draws Shareholder Resolutions
Potential risks of hydraulic fracturing (hydrofracking) well stimulation — particularly in natural gas shale plays — remain on the minds of activist energy company investors, some of whom are seeking more information on the practice and measures that could reduce associated risks.
Hydrofracking Draws Shareholder Resolutions
Potential risks of hydraulic fracturing (hydrofracking) well stimulation — particularly in natural gas shale plays — remain on the minds of activist energy company investors, some of whom are seeking more information on the practice and measures that could reduce associated risks.
Philadelphia Bans Marcellus Gas Supplies Pending EPA Study
Philadelphia officials on Tuesday directed the city-owned natural gas utility not to buy Marcellus Shale gas until more is known about the safety of hydraulic fracturing (hydrofracking).
Hydrofracing Regulation Passes Review in Pennsylvania
Pennsylvania’s program for regulating the hydraulic fracturing (hydrofracing) well stimulation activities of oil and gas producers “is overall, well managed, professional and meeting its program objectives,” according to a newly completed review.
Pennsylvania’s Hydrofracing Regulation Passes Review
Pennsylvania’s program for regulating the hydraulic fracturing (hydrofracing) well stimulation activities of oil and gas producers “is overall, well managed, professional and meeting its program objectives,” according to a newly completed review.
Industry Brief
The Antitrust Division of the Department of Justice has approved Baker Hughes Inc.’s (BHI) plan to sell Superior Energy Services two stimulation vessels (the HR Hughes and the Blue Ray) and some other assets used to perform sand control services in the U.S. Gulf of Mexico (see Daily GPI, July 7). The asset sale, expected to close by the end of August, is being conducted in connection with BHI’s acquisition of BJ Services Co. (see Daily GPI, April 29). Once the Superior sale is closed BHI would be free to fully integrate BJ Services into its operations.
EPA Urged to Back Off Hydrofrac Regulation
Federal regulation of the well stimulation technique known as hydraulic fracturing (hydrofracing) would hamstring the oil and natural gas industry and likely would force the U.S. to import natural gas from foreign sources, Rep. Jim Sensenbrenner (R-WI) told the head of the Environmental Protection Agency (EPA) last Wednesday.
EPA Urged to Back Off from Hydrofracing Regulation
Federal regulation of the well stimulation technique known as hydraulic fracturing (hydrofracing) would hamstring the oil and natural gas industry and likely would force the U.S. to import natural gas from foreign sources, Rep. Jim Sensenbrenner (R-WI) told the head of the Environmental Protection Agency (EPA) Wednesday.
Marcellus Coalition Defends Pennsylvania Water Handling
As natural gas production in the prolific Marcellus Shale continues to ramp up in Pennsylvania, proponents say drilling and well stimulation practices are safe and that steps are being taken to ensure the protection of the Commonwealth’s water resources for all Pennsylvanians.