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Eagle Ford Oil Production Hits New High

Eagle Ford Oil Production Hits New High

Crude oil production from the Eagle Ford Shale of South Texas was up by 74% in February compared with a year ago, reaching an all-time high of 471,258 b/d from the nine fields that comprise the majority of the play, according preliminary data from the Railroad Commission of Texas (RRC).

April 24, 2013

Golden Pass Exports Could Give Qatar Valuable Optionality

Spending to create new natural gas liquefaction capacity in the United States may get Qatar Petroleum International (QPI) more bang for the buck than developing additional liquefaction projects at home, according to Wood Mackenzie.

April 23, 2013

Halliburton More Optimistic on North American Land

Halliburton Co., the No. 2 global oilfield services provider, is beginning to see some blue skies in North America this year and going into 2014, CEO Dave Lesar said Monday.

April 23, 2013

McClendon Leases Office Space, Employs Chesapeake Execs

Chesapeake Energy Corp. founder Aubrey McClendon, who was forced to retire as CEO on April 1, has leased office space in Oklahoma City and lured two executives to what appears to be the start of at least one new company.

April 17, 2013

Chevron’s U.S. Natural Gas Volumes, Prices Rise; Oil Declines

Chevron Corp. increased its natural gas output in the first two months of 2013 at the same time it was collecting higher gas prices than it did a year ago.

April 12, 2013

Florida Lawmakers Eye NatGas Transportation Tax

Companion bills in the Florida legislature would tax providers of natural gas as a transportation fuel, rather than taxing natural gas vehicle (NGV) operators as is currently done. The measures would enact a 4-cent tax/motor fuel gallon equivalent of natural gas.

April 11, 2013

Pemex to Pay $350M for New Offshore Rigs

Mexico’s Petroleos Mexicanos’ (Pemex) exploration and production (E&P) unit has awarded contracts with a total value of more than $350 million to Empeiria Acquisition Corp. and subsidiary Integrated Drilling Equipment Co. Holdings (IDE) to build four 3000HP AC modular platform rigs, Houston-based Empeiria said Monday.

April 2, 2013
Poll Finds Strong Support for Fracking in North Carolina

Poll Finds Strong Support for Fracking in North Carolina

A Harris Interactive poll found that 60% of North Carolina voters support the use of hydraulic fracturing (fracking) in their state, and 74% support the Tar Heel State moving forward with offshore oil and natural gas exploration and production.

March 27, 2013

Industry Brief

After more than 17 years of trading for Morgan Stanley, TeamLevine has left the global financial services firm to form the independent brokerage, Powerhouse. Based in Washington, DC, the new company works with clients to protect profit margins and grow their business by designing and implementing hedging strategies, while focusing on price risk management using energy futures and related financial instruments. Powerhouse says its clients represent nearly all sectors of the energy supply chain, from producers to downstream distributors and retailers. Customers include gasoline marketers seeking to protect retail margins, diesel fuel distributors offering fixed and capped prices, and energy users who worry that the latest headline will affect their fuel bill. Powerhouse also serves natural gas marketers and electric utilities with risk from energy price uncertainty. Team Levine members Alan H Levine, Elaine E. Levin, David A. Thompson and Brendan Burke began trading as Powerhouse in January, and the brokerage added its hundredth new account in February. “Reactions from the marketplace have been overwhelmingly positive. As an independent firm, we can be more nimble, and offer more highly tailored services and support to our customers,” said Levin, president of Powerhouse. “This is especially important given recent volatility in gasoline prices.” The Powerhouse team, with 80 years of experience in the energy marketplace, is led by Chairman and CEO Levine, who has expertise in petroleum and natural gas pricing, transportation and supply in world energy markets. Levine was part of the group that initiated the heating oil contract for Nymex in 1977-1978. The company can be contacted at info@powerhouseTL.com or by phone at (202) 333-5380.

March 18, 2013

Common Ground Found in Shale Gas Debate

The policy landscape of shale gas development has been “dominated” by contradictory opinions, but there are “pathways” to a consensus, according to an analysis by Resources for the Future (RFF).

March 14, 2013