Threats

Hoping to head off threats of a state moratorium on hydraulic fracturing (fracking), Illinois leaders, the exploration and production (E&P) industry and conservation groups on Thursday firmed a mutual agreement on a bipartisan bill (HB 2615) that establishes rules for unconventional drilling using stimulation techniques.

Hoping to head off threats of a state moratorium on hydraulic fracturing (fracking), Illinois state legislative, oil/natural gas industry and environmental leaders on Thursday announced agreement on a bipartisan bill (HB 2615) establishing rules on the use of the contested well stimulation practice.

Louisiana’s commissioner of conservation has ordered Texas Brine LLC to abate the safety and environmental threats from its failed brine cavern on the west side of the Napoleonville Salt Dome in Assumption Parish where a sinkhole has been threatening residents and infrastructure since August.

The U.S. Fish and Wildlife Service (FWS) is proposing to protect six species of aquatic invertebrates native to West Texas as endangered under the Endangered Species Act (ESA). Such an ESA listing could have implications for the West Texas oil patch, analysts warned.

Virtually all points fell Thursday as they succumbed to a triple whammy of bearish threats: further increases in storage inventories, futures weakness and mild weather for mid-winter that refuses to go away and allow normal cold conditions to take hold.

Despite previous veto threats, Pennsylvania Gov. Tom Corbett said he would like to see some of the revenue generated from a proposed impact fee on Marcellus Shale development go toward capping thousands of abandoned wells in the state.

Despite previous veto threats, Pennsylvania Gov. Tom Corbett said he would like to see some of the revenue generated from a proposed impact fee on Marcellus Shale development go toward capping thousands of abandoned wells in the state.

Two issues — rising oil prices and regulatory changes — were selected as the biggest threats to the oil and gas industry, according to BDO USA LLP, which referenced U.S. Securities and Exchange Commission (SEC) 10-K filings for the 100 largest exploration and production (E&P) companies in the U.S. for a new report on industry risks.

Two issues — rising oil and gas prices and regulatory changes — were selected as the biggest threats to the oil and gas industry, according to BDO USA LLP, which referenced U.S. Securities and Exchange Commission (SEC) 10-K filings for the 100 largest exploration and production (E&P) companies in the U.S. for a new report on industry risks.