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December 12, 2012
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News for the oil and natural gas industry

  Top Story 
  • North America to become energy exporter by 2025, Exxon says
    North America will become a net energy exporter by 2025, fueled by surging oil and natural gas production, ExxonMobil said. According to the company's energy outlook, more than 50% of the unconventional gas supply growth over the next 20 years will come from North America. Exxon in recent years has been scooping up natural gas properties in the U.S., starting with its acquisition of XTO Energy. Reuters (12/11) LinkedInFacebookTwitterEmail this Story
South America's Emerging Investment Opportunities...
This Congress Will Scrutinize Political & Regulatory Risk Against Geological Prospectivity To Determine The Financial Return & Economic Viability Of Investing In The 8 Hottest Emerging Prospects South America: Colombia, Brazil, Argentina, Peru, Chile, Ecuador, Paraguay & Uruguay.
  Industry News 
  • Exxon isn't encouraging issuance of carbon tax, exec says
    An ExxonMobil official clarified that the company isn't encouraging lawmakers to implement a carbon tax as a way to place a cost on greenhouse-gas emissions. Kenneth Cohen, Exxon's vice president of public and government affairs, also defended the company's climate record amid criticism from some Democrats and activists. "The challenge that we have being the world's largest nongovernmental energy company is to continue to produce the energy that the world runs on but to do it ... with a lower greenhouse gas emission footprint," Cohen said. The Hill/E2 Wire blog (12/11) LinkedInFacebookTwitterEmail this Story
  • EnCana seeks withdrawal of EPA's draft fracking report
    The Environmental Protection Agency's draft report that linked groundwater pollution to EnCana's hydraulic fracturing operations in Pavilion, Wyo., lacks accurate data and should be withdrawn, a company official said. The agency should instead focus on complaints by several residents about palatability concerns from shallower domestic wells, said David Steward, team lead for the company's environment, health and safety operations in Wyoming. Rigzone (12/11) LinkedInFacebookTwitterEmail this Story
Join experts in March to discuss Bakken crude logistics
Leaders in oil production, transportation, logistics & related services are invited to attend the 2nd Annual Bakken Crude Oil Logistics Conference at the JW Marriott in Houston on March 7-8, 2013. Building on 2012's well-attended event, The Petroleum Institute encourages you to attend, exhibit at, or sponsor the only event focused on this vital topic.
  Exploration & Production 
  • Shell invests $26M in Calif. solar startup
    California startup GlassPoint Solar will be receiving a $26 million investment from Royal Dutch Shell and three venture capital companies. GlassPoint uses solar energy to tap crude oil in aging wells. The company runs a solar enhanced oil recovery project in California and is developing a trial project in Oman. Reuters (12/11) LinkedInFacebookTwitterEmail this Story
  • Energy expert sees rise in Gulf drilling rigs by 2017
    The number of active drilling rigs in the Gulf of Mexico could increase from about 36 to over 60 by 2017, despite the region being one of the most mature basins in the world, an energy analyst said. "After essentially being left for dead following the devastating Macondo blowout ... the deepwater Gulf of Mexico is in the early stages of an extended growth cycle and is poised to be the strongest offshore market in the world through 2015," said Jud Bailey of International Strategy and Investment. Platts (12/11) LinkedInFacebookTwitterEmail this Story
  Policy Watch 
  • Interior Dept. delays issuance of fracking rules
    The Department of the Interior has delayed the implementation of rules covering hydraulic fracturing. Interior earlier planned to finalize the rules by year's end, but it now "expects action on the [hydraulic fracturing] proposal in the new year," said Blake Androff, a spokesman for the department. "[A]s we continue to offer millions of acres of America's public lands for oil and gas development, it is important that the public have full confidence that the right safety and environmental protections are in place." The Hill/E2 Wire blog (12/11) LinkedInFacebookTwitterEmail this Story
  • API: Suit against EPA over drilling methane is senseless
    New York and six other states seek to file a lawsuit against the Environmental Protection Agency because it has failed to address methane releases from oil and natural gas drilling. The suit is pointless since the agency cleared emissions rules earlier in the year, and many firms have developed tools to mitigate methane leaks, said Howard Feldman, a spokesman for the American Petroleum Institute. ABC News/The Associated Press (12/11) LinkedInFacebookTwitterEmail this Story
  • U.K. won't oppose CNOOC-Nexen merger, official says
    CNOOC's $15.1 billion acquisition of Nexen won't be opposed by the U.K. government, an official said. The deal requires clearance from the U.K., as Nexen holds shares in the Buzzard oil field there. "The licence does not change, no formal approval is needed," said Mike Hawkins, head of oil and gas license administration at the U.K.'s Department of Energy and Climate Change. Reuters (12/11) LinkedInFacebookTwitterEmail this Story

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  API News 
  • 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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