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January 2, 2013
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News for the oil and natural gas industry

  Top Story 
  • Change in Senate panel leadership could benefit coastal states
    A change in the leadership of the Senate Energy and Natural Resources Committee could raise the prospects for coastal states getting more revenue from oil and natural gas development, observers say. Sen. Ron Wyden, D-Ore., who is replacing retiring Sen. Jeff Bingaman, D-N.M., as committee chairman, hinted that he is open to including revenue sharing as part of an extensive energy bill. "It's too important an issue. I appreciate that Sen. Wyden has left the door open and intends to explore it," said Sen. Lisa Murkowski, R-Alaska, the committee's top Republican. (12/31) LinkedInFacebookTwitterEmail this Story
  Industry News 
  • Experts note increase in offshore rig demand in 2012
    Surging activity in the Gulf of Mexico spurred an increase in demand for offshore rigs in 2012, industry analysts said. In the year's final quarter, there were 33 floating rigs and 29 jackups in the Gulf, up from 27 floating rigs and 27 jackups in the third quarter, according to a Tudor Pickering analyst's note. Demand for onshore rigs, however, slipped last year as major operators have drilled less for natural gas. (12/31) LinkedInFacebookTwitterEmail this Story
  • Industry exec touts potential of Ohio shale play
    The Utica Shale formation's potential for spurring economic growth and generating jobs is becoming clearer, observers say. About 45 wells in the play are in the production stage, and they are yielding large natural gas, oil and natural gas liquids figures. "That's something that has really happened, and it tells you how big the Utica shale is," said Tom Stewart, the Ohio Oil & Gas Association's executive vice president. Akron Beacon Journal (Ohio) (1/1) LinkedInFacebookTwitterEmail this Story
  • Natural gas continues to be a crucial energy source, report finds
    Natural gas continues to be one of the important sources of energy in the world, according to a report from the Worldwatch Institute. Gas consumption worldwide rose 2.2% to 2.91 billion tons of oil equivalent in 2011, the study found. The European Union was the only region that failed to show an increase in gas usage, the report added. (12/31) LinkedInFacebookTwitterEmail this Story
  Exploration & Production 
  • Chesapeake, Devon plug 4 Utica Shale wells
    Four of the nine plugged wells in Ohio's Utica Shale formation over the past two years belonged to Devon Energy and Chesapeake Energy. Weak production seemed to be the reason why Devon abandoned two wells, said Heidi Hetzel-Evans of the Ohio Department of Natural Resources' Division of Oil and Gas Resources Management. Chesapeake spokesman Pete Kenworthy, meanwhile, said the "wells in question were plugged very early in the drilling process so a new hole could be drilled." Akron Beacon Journal (Ohio) (1/1) LinkedInFacebookTwitterEmail this Story
  Policy Watch 
  • Alaska regulators introduce proposed rules for fracking
    Alaska regulators have proposed several rules to monitor hydraulic fracturing operations in the state. Under the planned rules, drillers would be required to inform landowners about fracking, disclose the chemicals used in the drilling technique and carry out pre- and post-fracking water tests. "I would say that they are quite comprehensive and go into significant detail on protecting local groundwater or drinking water," said Mike Paque, executive director of the Ground Water Protection Council. Platts (12/31) LinkedInFacebookTwitterEmail this Story
  • Report: Oil, gas comprise large portion of U.S. leasing revenue
    Most of the U.S. government's fiscal 2011 and 2012 federal mineral leasing revenue came from oil, natural gas and natural gas liquids, according to a report from the Government Accountability Office. About $10.1 billion of the $11.3 billion collected from such leases in 2010 and $11.4 billion received in 2011 came from the energy resources, the report found. Oil & Gas Journal (12/31) LinkedInFacebookTwitterEmail this Story
  API News 
  • A Penny for Your Thoughts
    From public hearings on Keystone XL in Nebraska to election events in Colorado, Ohio and Pennsylvania, Energy Nation has traveled across the country this year to raise the banner for the oil and natural gas industry. In 2013, we're not slowing down. Take a short survey to let us know what issues are important to you. LinkedInFacebookTwitterEmail this Story

  • API Inspection Summit, Jan. 7 to 10, Galveston, Texas
    The American Petroleum Institute invites you to attend the API Inspection Summit & Expo in Galveston, Texas, at the Galveston Island Convention Center, Jan. 7 to 10. The summit will provide you an opportunity to hear about emerging trends from industry experts in topics such as inspection technologies/NDE/corrosion/engineering analysis/software. Eight panel discussions on timely industry issues are planned to enhance interaction with attendees. It is also the only networking event for inspectors in the industry and includes an exhibit hall with more than 60 companies displaying the latest in inspection services. The API Inspection Summit program will feature over 120 individual presentations, as well as a new feature for 2013 -- a one-day optional training component consisting of eight technical courses, providing in-depth education to attendees. View the draft program and register. LinkedInFacebookTwitterEmail this Story
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