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December 5, 2012
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News for the oil and natural gas industry

  Top Story 
  • Neb. will soon decide on Keystone XL project, API says
    Nebraska's ruling on TransCanada's Keystone XL pipeline will come soon, the American Petroleum Institute said, but the schedule for the project's final federal review remains unclear. Nebraska's Department of Environmental Quality this week will hold discussions about the project, which is in the final stage of the input gathering process. "This will conclude the longest pipeline application deliberation in history, which, with Nebraska's expected support, we believe will result in final approval for the project to commence," said John Kerekes, API's central region director. Reuters (12/4) LinkedInFacebookTwitterEmail this Story
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  Industry News 
  • API notes strong support for Keystone XL project
    Support for TransCanada's Keystone XL pipeline still outweighs opposition to the project, the American Petroleum Institute said. "It's a $7 billion infrastructure crossing five states that will mean 20,000 new jobs, including work in the building and construction trades, which are suffering from 12% unemployment," said Cindy Schild, downstream operations manager for refining and oil sands at API. The remarks come as Nebraska regulators prepare for a public hearing on the pipeline's new route. Oil & Gas Journal (12/4) LinkedInFacebookTwitterEmail this Story
  • Industry project details scope of Arctic spill response studies
    A joint industry program made up of several oil majors, including ExxonMobil and Chevron, will continue to research offshore spill response technologies for Arctic exploration projects, speakers said during the Arctic Technology Conference. Mechanical recovery, remote sensing, in-situ burning and dispersants are among the items for research. Oil & Gas Journal (12/4) LinkedInFacebookTwitterEmail this Story
  • BP plans to focus on more deepwater exploration, exec says
    BP seeks to concentrate on deepwater oil and natural gas drilling, executives said, adding that they are planning for a 40% increase in the company's rig fleet by 2014. "We have a bias to deepwater -- it is where we believe we and few others can manage the risk and reward, and develop the capability and technology that will be required," said Andy Hopwood, executive vice president of strategy at BP. Angola and the Gulf of Mexico will be the focus of its deepwater program. (12/4) LinkedInFacebookTwitterEmail this Story
  • Marathon focuses on Eagle Ford operations in 2013 budget
    A third of Marathon Oil's $5.2 billion capital budget for 2013 will go to operations in the Eagle Ford Shale formation in Texas. Marathon seeks to drill up to 250 net wells in the play and produce 85,000 net barrels of oil equivalent per day. "Eagle Ford has clearly been a positive story for Marathon," said Morningstar analyst Allen Good. (12/4) LinkedInFacebookTwitterEmail this Story
  • USGS chief notes importance of post-Gulf spill studies
    Scientific reports about the 2010 Gulf of Mexico oil spill provide additional insight to help regulators and the industry cope with similar incidents in the future, according to the U.S. Geological Survey. "Although we all hope 'Never again!' will there be an oil spill like the Deepwater Horizon, there will always be some risk as we move into deeper water and more difficult environments in our quest for the planet's remaining fossil fuels," said Marcia McNutt, the agency's director. United Press International (12/4) 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.
  Exploration & Production 
  • EIA: Fracking helps U.S. post 15-year high in crude oil production
    U.S. crude oil production in September soared to a 15-year high, spurred by hydraulic fracturing and horizontal drilling, according to the Energy Information Administration. The country produced 6.5 million barrels per day in September, 900,000 barrels per day more than the output in the same period last year, the agency said. The Hill/E2 Wire blog (12/4) LinkedInFacebookTwitterEmail this Story
  • Gas production increased in Lower 48 in Sept., EIA says
    Energy companies operating in the Lower 48 states produced 73.05 billion cubic feet per day of natural gas in September, up from 72.60 billion cubic feet per day of gas in August, according to the Energy Information Administration. The increase comes as drillers reported new wells in several shale formations including the Marcellus Shale, the report stated. SNL Financial (free content) (12/3) LinkedInFacebookTwitterEmail this Story
  Policy Watch 
  • API, U.S. Chamber file suit against SEC disclosure rule
    The American Petroleum Institute, U.S. Chamber of Commerce and other industry groups have filed a lawsuit challenging a Securities and Exchange Commission rule that requires oil and natural gas companies to report payments made to foreign governments. The policy is "one of the most expensive" in the SEC's history, the groups said. "The rule -- and the statutory provision that authorized it -- violate the First Amendment by compelling speech on a controversial matter in order to influence political affairs," they added. The Wall Street Journal/Corruption Currents blog (12/4) LinkedInFacebookTwitterEmail this Story
  • U.S. should take advantage of Canada's crude oil, official says
    The U.S. needs to take advantage of Canada's surging oil production to maintain "the largest trading relationship in the world," said John Prato, Canada's consul general in New York. "Next door you have a neighbor that is oil rich, and the question for America is how much Canadian oil do you want?" Prato said. TransCanada's proposed Keystone XL pipeline is key to efficient movement of crude through the U.S., he said. (12/4) LinkedInFacebookTwitterEmail this Story
  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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