Traditional

Industry Brief

Denver-based Enservco Corp., a provider of well-site services, said it will invest $6 million in capital expenditures during 2013, with $4.7 million being allocated to new equipment fabrication. The budget also includes $1.3 million for enhancements to existing equipment. Management estimates the annualized revenue potential from the new equipment at about $10 million. The equipment includes nine frack heating trucks with a total of 12 burner boxes, four hot oilers and two well acidizing trucks. The investments will expand the company’s frack heating capacity by 40% and increase its hot oiling fleet by 15%. Enservco said sales during April reached $3.7 million, up 85% from one year ago. The improvement was fueled in part by cool spring temperatures across the company’s service territories, as well as sustained demand for fluid heating services, particularly in regions where new fracking techniques require higher water temperatures than traditional frack designs.

May 17, 2013

Illinois Oil and Gas Industry, Enviros Agree on Fracking Rules

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.

February 25, 2013

California Regulators Unveil Draft Fracking Rules

Preliminary draft rules for hydraulic fracturing (fracking) were unveiled Tuesday by California’s state oil and natural gas drilling regulators who indicated the development process will take at least all of next year.

December 21, 2012

LNG Capacity Moves to High Horsepower Applications

Making the most of America’s recently realized and growing natural gas endowment dictates the use of gas for more than the traditional commercial and industrial applications. Many people are working to promote LNG as an alternative to fuels such as diesel and propane. One of them is Peter Tumminello, AGL Resources Co. executive vice president of wholesale services.

October 1, 2012

LNG Capacity Spreading to High Horsepower Applications

Making the most of America’s recently realized and growing natural gas endowment dictates the use of gas for more than the traditional commercial and industrial applications. Many people are working to promote liquefied natural gas (LNG) as an alternative to fuels such as diesel and propane. One of them is Peter Tumminello, AGL Resources Co. executive vice president of wholesale services.

October 1, 2012

Margins May Weaken for Fracking, Pumping Services

Drilling technologies have transformed the competitive landscape within the oil and gas industry and altered the traditional pricing relationship between crude oil and natural gas, but there’s still plenty of room for horizontal drilling and hydraulic fracturing (fracking) services to grow, according to Standard & Poor’s Ratings Services (S&P).

September 24, 2012

S&P: Margins to Weaken for Fracking, Pressure Pumping Services

Drilling technologies have transformed the competitive landscape within the oil and gas industry and altered the traditional pricing relationship between crude oil and natural gas, but there’s still plenty of room for horizontal drilling and hydraulic fracturing (fracking) services to grow, according to Standard & Poor’s Ratings Services (S&P).

September 19, 2012

California Firms Feuding Over Proposed Compression Fuel Services

Traditional allies find themselves knocking heads at the California Public Utilities Commission (CPUC) over a proposal by Sempra Energy’s Southern California Gas Co. (SoCalGas) utility to establish a special compression tariff and services for natural gas vehicle (NGV) fueling stations. Seal Beach, CA-based Clean Energy Fuels Corp. is alleging that the SoCalGas plan is anti-competitive.

June 1, 2012

State Geologist Says Some North Carolina Gas Supply Estimates Too Optimistic

North Carolina’s assistant state geologist said estimates put forth by supporters of natural gas development in the Tar Heel State are overly optimistic and actual reserves are probably much lower.

May 25, 2012

Baker Hughes: Turnabout in North American Rig Count

The North American drilling rig count should average 2,400 rigs in 2012, up 5% from a year ago, but it won’t take its traditional natural gas trajectory, Baker Hughes Inc. executives said last week. Operators are “drastically” shifting from gas targets, and Baker is seeing the beginnings of a “tidal wave” preparing to ride into the Permian Basin.

April 30, 2012
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