While agreeing to defer nearly 10,000 acres, the federal Bureau of Land Management (BLM) finds itself as the target of strong opposition from local residents as it attempts to conduct an oil and natural gas lease sale in mid-February in central Colorado’s North Fork Valley.
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McClendon Out, but Chesapeake ‘Not for Sale’
Energy analysts and the market weighed in Wednesday on the news that natural gas pioneer and industry cheerleader Aubrey K. McClendon, co-founder, CEO and president of Chesapeake Energy Corp., is retiring effective April 1. His departure would end one point of controversy, but it won’t solve the problems facing the producer, according to some.
Appalachian Antero Posts 73% Increase to Proved Reserves
Antero Resources announced Monday that its proved reserves had increased 73% in one year by the end of 2012, while its proved, probable and possible (3P) reserves had increased 94% and its natural gas liquids (NGL) reserves increased by 170% during the same time frame, all thanks to discoveries in the Marcellus and Utica shale plays.
Some U.S. Oil Producers Taking Rail, Barges Over Pipes
Oil, the latest growth engine of the U.S. unconventional boom, is spurting up from the ground at an exceptional pace, which is leading many operators to rethink where — and how — they want to deliver their reserves for the best prices.
California Study Ties Fracking to Seismic Activity
While California state officials are mulling new regulations related to oil and natural gas drilling, including hydraulic fracturing (fracking), a Stanford-connected engineering researcher/consultant has completed an updated analysis on some earlier work cautioning that fracking can induce seismic activity in geologically active areas, such as some of California’s old producing fields.
Pennsylvania’s New Auditor General to Probe DEP Over Shale
Pennsylvania’s new auditor general, Eugene DePasquale, will conduct a performance audit of the Department of Environmental Protection’s (DEP) water testing and waste disposal programs to assess their effectiveness in regulating shale gas development.
Shell: Drilling Rig Grounded in Alaska Not Leaking
Over New Year’s Eve U.S. Coast Guard (USCG) crews contended with an Arctic storm while assisting Royal Dutch Shell plc’s grounded drillship The Kulluk on the southeast shoreline of Sitkalidak Island, AK. Shell emphasized that the grounding is a maritime accident and not related to drilling, and that there was no risk of an oil spill.
Southwestern Expects to Grow 2013 Net Output 11-13%
For 2013, Southwestern Energy Co. is dialing down spending by $100 million but expects to increase net natural gas and oil production by 11-13% from this year. Drilling is increasing on the eastern side of the Fayetteville Shale, and new pipeline infrastructure is taking more gas to market from the Marcellus Shale, the company said.
Drilling Downturn Impacts North American Oilfield Sector
Schlumberger Ltd. and Baker Hughes Inc. said they plan to report lower-than-expected profits for the final quarter of 2012 because of a slowdown in North American drilling activity and overcapacity in pressure pumping services.
NuStar Expanding Eagle Ford Crude Assets
NuStar Energy LP is expanding its South Texas Crude Oil Pipeline System with the support of a long-term pipeline and terminal services agreement recently struck with ConocoPhillips, the partnership said Thursday.