Sixteen of the Keane Group Inc.’s 23 hydraulic fracturing fleets now are working across the U.S. onshore, representing 70% utilization, a positive sign for growth through this year, the Houston operator said Wednesday.
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The global liquefied natural gas (LNG) market, which was about 270 million tonnes last year, will grow to 360-370 million tonnes in three years time, and the U.S. Gulf Coast will serve 25-30% of that market, LNG pioneer Charif Souki said Thursday in Houston.
The U.S. land rig count continued working lower in the latest tally from Baker Hughes Inc., released on Friday. It’s on its way to a trough of 375-400, according to one firm tracking the action.
The U.S. land rig count dropped by another 13 units for the week ending March 11 when there was an exodus of horizontal rigs that saw Texas leading declines among the states.
North America’s $15.9 billion in oil and natural gas merger and acquisition activity led the global markets during the third quarter with a 38% share, but overall U.S. activity and deal values declined year/year, according to PLS Inc. and Derrick Petroleum Services.
The development and growth of unconventional natural gas supplies should remain an exclusive domain of the United States, according to a top executive with the energy trading arm of Royal Dutch Shell plc.
Would-be exporters of liquefied natural gas (LNG) from Canada’s West Coast and from the Lower 48 face multiple challenges. Up north the main worry is pricing and securing contracts to support the project, while down south the main threat is of a regulatory/political nature, according to an analysis by the International Gas Union (IGU).
The energy security risk faced by the United States as quantified by the U.S. Chamber of Commerce fell 6.6% last year from 2011, ending a two-year run of increases, thanks mainly to oil and natural gas production from shale plays, the Chamber’s Institute for 21st Century Energy said Wednesday.