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November 14, 2012
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News for the oil and natural gas industry

  Top Story 
  • API's ad campaign seeks to boost support for oil, gas tax deductions
    The American Petroleum Institute has kicked off an advertising campaign to combat efforts to eliminate billions of dollars in tax deductions for oil and natural gas companies. Broadcast and print ads will be concentrated in Washington, D.C., and in producing states where energy is a key economic driver. "Our immediate focus is a continued educational campaign on the energy sector, how they contribute to economic growth, and looking at the bigger picture, how appropriate policies can help us do more," said Brian Johnson, API's senior tax adviser. (11/13) LinkedInFacebookTwitterEmail this Story
Siemens Launches Oil & Gas Manager 2.0
Siemens Oil & Gas announces the launch of its flagship upstream design and cost-estimating software: Oil & Gas Manager (OGM) 2.0. OGM 2.0 brings to reality the application of "first principles" for estimating upstream concepts from 'Appraise' to 'Operate'. Bringing flexibility and confidence to decision making with estimates of +/- 25 percent. Learn More or Contact Us.
  Industry News 
  • Deaton: Industry needs to reach out to public about fracking
    The oil and natural gas industry should engage government and the public more about the advantages of hydraulic fracturing and other drilling technologies so resources can be exploited more, said Chad Deaton, executive chairman of Baker Hughes. "We have to let the government and the public know we are good citizens, we are protectors of the environment and we do create jobs," Deaton said during Deloitte's oil and gas conference in Houston. (11/13) LinkedInFacebookTwitterEmail this Story
  • Murphy Oil buys Shell shares in Canada's Seal Lake region
    Murphy Oil has reached a deal to acquire shares of Royal Dutch Shell in the Seal Lake region of Canada for an undisclosed amount. The transaction is expected to add 2,200 barrels of oil equivalent per day and includes almost 150,000 acres in northern Alberta, according to Murphy Oil. Reuters (11/13) LinkedInFacebookTwitterEmail this Story
  • Shell seeks to take part in Mozambique gas projects
    Royal Dutch Shell is in discussions with Anadarko Petroleum and other energy firms about taking part in offshore natural gas projects in Mozambique. Anadarko is one of the operators of Mozambique fields that could contain over 100 trillion cubic feet of gas. "For the moment, these are really just commercial discussions," said Maarten Wetselaar, Shell Upstream International's executive vice president. (11/13) LinkedInFacebookTwitterEmail this Story
  • Other News
  Exploration & Production 
  • Blackstone, LLOG strike Gulf development partnership
    Blackstone Group and LLOG Exploration will spend a total of $1.2 billion to expand LLOG's Gulf of Mexico's operations. LLOG seeks to use the money for the exploration of more than 110 offshore leases and the development of recent deepwater finds. LLOG's Gulf asset base will also be expanded via acquisitions and lease sale participation, the companies said. Reuters (11/13) LinkedInFacebookTwitterEmail this Story
  Policy Watch 
  • API exec highlights industry's role in economic growth
    The U.S. oil and natural gas industry could help drive economic growth if the country commits to expanded energy production, writes Brian M. Johnson, senior tax adviser for the American Petroleum Institute. A million jobs would be generated in seven years through sound energy policies that would allow the adoption of a full domestic oil and natural gas development program. Government revenue could also grow by $127 billion by 2020, Johnson writes. The Washington Times (11/12) LinkedInFacebookTwitterEmail this Story
  • Va. authorities try other avenues to revive offshore lease sales
    State and federal officials in Virginia are seeking other means to revive an offshore lease sale in the state that was shelved following the Gulf of Mexico oil spill two years ago. Sens. Jim Webb, D-Va., and Mark Warner, D-Va., have unveiled a proposal that would authorize lease sales off the coast of Virginia and give the state a portion in the revenue. "At this point, we feel that congressionally directed is better because that's where you get the revenue-sharing and the lease sales," said Mark Brunner, senior energy policy adviser for Warner. The New York Times (tiered subscription model) (11/13) LinkedInFacebookTwitterEmail this Story
  • Obama will clear Keystone XL project, CEA official says
    TransCanada's Keystone XL pipeline will receive approval from the Obama administration, said John Northington, counsel to the Consumer Energy Alliance. Northington and the alliance's executive vice president, Michael Whatley, however, said imminent tax reform discussions could affect smaller drilling firms if the tax deductions are lifted for intangible drilling costs. "If you take away those intangible drilling costs (for) independent producers, 25 percent of their drilling budget is going to come off the table," Whatley said. (11/13) LinkedInFacebookTwitterEmail this Story
  API News 
  • E&P Onshore Operations Safety Program
    The E&P Onshore Operations Safety Program provides training on key safety issues found at onshore job sites and includes an examination covering industry safety practices. This program is based on API's E&P Onshore Operations Safety Handbook, and provides awareness-level training on key safety issues found at onshore E&P job sites. Learn more. 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 learn about new and existing industry codes and standards, and to hear about emerging trends from industry experts. It is also the only networking event for inspectors in the industry and includes an exhibit hall with more than 50 companies displaying the latest in inspection services. The API Inspection Summit program will feature over 120 individual sessions, 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. The Call for Presentations has been extended to Sept. 14. Learn more and register. LinkedInFacebookTwitterEmail this Story
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