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Schlumberger Sees Further Decline in North American Land Revenues

A sharp decline in North American land activity hurt Schlumberger Ltd.'s revenues and earnings in the first quarter, but the worst days may be ahead, CEO Paal Kibsgaard said Friday. North American revenues likely will fall further in the second quarter, and visibility on where the bottom is remains murky.

April 17, 2015
Range Loses Appeal, Must Disclose Chemicals Used at Well Site in Pennsylvania

Range Loses Appeal, Must Disclose Chemicals Used at Well Site in Pennsylvania

A Pennsylvania appellate court has upheld an order that Range Resources Corp. must collect information from third-party manufacturers about additives it used in wells at a controversial site in Washington County, and disclose them to nearby residents who filed a lawsuit three years ago.

April 17, 2015

Texas House Lawmakers Preliminarily Approve Frack-Friendly Bill

At midday Friday, after three hours of debate, Texas state Rep. Drew Darby (R-San Angelo) had fought back 10 amendments to his House Bill 40, which is intended to prevent municipalities from enacting ordinances that interfere with oil/gas drilling. HB 40 was passed to engrossment on a vote of 122-18 and faces one more vote in the House before passing to the state Senate.

April 17, 2015

Schlumberger Sees Further Decline in North American Land Revenues

A sharp decline in North American land activity hurt Schlumberger Ltd.’s revenues and earnings in the first quarter, but the worst days may be ahead, CEO Paal Kibsgaard said Friday. North American revenues likely will fall further in the second quarter, and visibility on where the bottom is remains murky.

April 17, 2015

Interior Launches Plan to Adjust Royalty Rates on Federal Lands

The Department of Interior (DOI) followed through on its promise last month to begin taking public comments over a proposal to empower the Bureau of Land Management (BLM) to adjust royalty rates for drilling on public lands.

April 17, 2015

Texas House Lawmakers Preliminarily Approve Frack-Friendly Bill

At midday Friday, after three hours of debate, Texas state Rep. Drew Darby (R-San Angelo) had fought back 10 amendments to his House Bill 40, which is intended to prevent municipalities from enacting ordinances that interfere with oil/gas drilling. HB 40 was passed to engrossment on a vote of 122-18 and faces one more vote in the House before passing to the state Senate.

April 17, 2015

Interior Opens Conversation on Possible Onshore Royalty Regulation Changes

Prompted by the escalation of production out of shale plays in recent years, the Department of Interior's (DOI) Bureau of Land Management (BLM) is issuing an advance notice of proposed rulemaking (ANPR) seeking public comment on potential updates to rules governing oil and natural gas royalty rates, rental payments, lease sale minimum bids, civil penalty caps and financial assurances on federal lands.

April 17, 2015

Interior Launches Plan to Adjust Royalty Rates on Federal Lands

The Department of Interior (DOI) followed through on its promise last month to begin taking public comments over a proposal to empower the Bureau of Land Management (BLM) to adjust royalty rates for drilling on public lands.

April 17, 2015

U.S. to Remain Leading Petrochemical Feedstock Supplier For Decades, Say Experts

U.S. midstream operators should keep their eyes on a long-term view of the markets and less on the current commodity prices because the country will remain one of the biggest natural gas liquids (NGL) suppliers for decades, according to industry experts.

April 17, 2015

Interior Opens Conversation on Possible Onshore Royalty Regulation Changes

Prompted by the escalation of production out of shale plays in recent years, the Department of Interior’s (DOI) Bureau of Land Management (BLM) is issuing an advance notice of proposed rulemaking (ANPR) seeking public comment on potential updates to rules governing oil and natural gas royalty rates, rental payments, lease sale minimum bids, civil penalty caps and financial assurances on federal lands.

April 17, 2015