E&P

The Ohio Department of Natural Resources (ODNR) on Friday took an unprecedented step to establish what is believed to be the country’s first set of permitting conditions for hydraulic fracturing (fracking) in horizontal wells near fault lines or areas of previous seismic activity.

Mostly harsh winter weather was attributed to North Dakota’s oil and natural gas production remaining depressed in February, the most recent month for which the state has complete statistics, the Department of Mineral Resources (DMR) Oil/Gas Division reported Friday. Final data from March and April likely will show a turnaround, DMR Director Lynn Helms said.

Chevron Corp. reported Wednesday that its U.S. natural gas production rose in January and February from the year-ago period, with upstream net output hitting 664,000 boe/d, up from 637,000 boe/d.

New permit requirements are set for oil, natural gas and saltwater disposal wells in North Dakota’s Williston Basin, the Oil/Gas Division in the state Department of Mineral Resources (DMR) said on Wednesday. They are effective June 1.

Super independent ConocoPhillips’ estimated resource base in the Eagle Ford Shale is 2.5 billion bbl of oil in place, much more than a previous forecast of 1.8 billion, management said Thursday.

Chesapeake Energy Corp. is once again fighting to stave off a class action lawsuit in Pennsylvania as it confronts a growing chorus of those that allege it is improperly deducting post-production costs from royalty payments.

The future of hydraulic fracturing (fracking) in the Barnett Shale town of Denton, TX, will likely be in voters’ hands this November. For one reluctant activist pushing to ban the well stimulation practice, the trip to the polls began years ago.

U.S. crude oil reserves in 2012 surged to their highest level since 1976, but low natural gas prices drove down gas proved reserves for the first time in 14 years, the Energy Information Administration (EIA) said Thursday.

BP plc has no plans to turn its back on considerable Russian oil and natural gas prospects, and the company, in fact, expects to play an important role to bridge engagement between Russia, as an energy supplier, and Europe, as an energy consumer, Group CEO Bob Dudley said Thursday.