E&P

The economics of most U.S. natural gas plays, wet or dry, now are below breakeven levels after suffering as a result of the decline in commodity prices, according to a Barclays Capital analysis. Surprisingly to some perhaps, the Marcellus Shale was not the lowest-cost basin overall.

Bills recently introduced in the Texas legislature intended to thwart local municipality interference with oil and gas drilling have raised the ire of the Texas Municipal League (TML), but an industry trade association said the proposed changes would strengthen the relationship between the state and cities in oil/gas regulation.

Rice Energy Inc. plans to double down this year in its narrow Utica Shale position, where its only three wells at the end of 2014 were each producing at a stabilized rate of about 16 MMcf/d.

Frank’s International NV, whose operations are based in Houston, has agreed to buy cross-town competitor Timco Services Inc., a move that would expand its oilfield services in the United States, especially in the Eagle Ford Shale and Permian Basin.

Canadian regulators have proposed introducing a new class of tank cars to transport flammable liquids by rail, requiring shippers to begin phasing out what they consider to be the most dangerous rolling stock for crude oil in two years for a complete transition by 2025.

North Dakota oil and natural gas production fell sharply at the start of this year, dropping from all-time highs at the end of last year. The backlog of uncompleted wells is expected to climb as the rig count falls between now and summer.

Traffic on TransCanada Corp.’s western pipeline grid, Nova Gas Transmission Ltd. (NGTL), will increase by 42% over the next 10 years as thermal oilsands production grows and spreads across northern Alberta, the system’s planners said.

Chevron Corp. has dropped some rigs in the Permian Basin this year; but, it’s not because of lower commodity prices. In fact, the operator is as enthusiastic as ever about the legacy play, where efficiencies in completions are leading to more production for the buck.

No injuries or environmental disasters resulted last weekend as North Dakota’s Bakken was hit by two wellsite fires, and a separate saltwater release northeast of the city of Williston, ND. The state Department of Mineral Resources (DMR) dispatched inspectors to the scene of each incident.