| News for the oil and natural gas industry
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- Spill panel notes progress in industry's efforts after Gulf spill
Members of President Barack Obama's oil-spill commission noted progress in efforts by the federal government and the energy industry to strengthen offshore-drilling safety in the aftermath of the Gulf of Mexico oil spill. "[W]e are encouraged by the advances industry, the Department of the Interior, and other federal agencies have made in the two years since the Deepwater Horizon catastrophe to improve the safety of offshore drilling and the nation's readiness to respond to any spills that do occur," they said in a report. However, Congress has done little in response to the incident, the report added. The Hill/E2 Wire blog
(4/17), The Wall Street Journal
(4/17)     
 | Tight Oil Eagle Ford 2012: June 27-28, Houston, TX
E&P companies including BHP Billiton, Pioneer, Shell, Lewis, Laredo, Zaza, Plains present successful case studies on how to improve well economics by optimizing drilling, completions and recovery in the Eagle Ford's oil-rich reservoirs.
Click Here To View Agenda and Save $400 before April 20! |
- Proposed emissions rules won't affect gas-drilling boom, firms say
The natural gas drilling boom won't be slowed by an Obama administration proposal to reduce emissions from natural gas wells, according to some energy companies. Devon Energy and Southwestern Energy said they already use emissions-capturing systems at their wells. "What we do today with reduced emissions completions in our wells doesn't cost us any more than just venting the gas into the atmosphere," said Mark Boling, president of the V+ Development Solutions division of Southwestern Energy. Bloomberg
(4/17)
- Devon CEO says company will focus spending on oil, gas liquids
Devon Energy seeks to focus its spending on the development of oil and natural gas liquids and has no plans to drill new dry natural gas wells, President and CEO John Richels said. "We've always thought that having a balance between oil and liquids on one hand and gas on the other was a good thing," he said. "We've never wanted to be just an oil company or just a gas company. We all know what happens to commodity prices over time." SNL Interactive (free content)
(4/16)
- Energy industry to face new challenges, IHS chairman says
The oil and natural gas industry is about to face new challenges, as the offshore-drilling permitting pace remains behind levels seen before the Gulf of Mexico oil spill, said Daniel Yergin, chairman of IHS CERA. "I think we're above what we thought would be the slow recovery scenario, but it's still taken a very long time," Yergin said, referring to permitting in the Gulf. Three to four years could pass before offshore production returns to pre-Gulf-spill levels, he added. The Times-Picayune (New Orleans)
(4/17)
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- Marathon Oil expects to produce oil from Angolan block in 2012
An offshore block in Angola is expected to produce oil in the year's second half, according to Marathon Oil, which owns a 10% stake in the project. The company also anticipates that Block 31 will reach peak production of 150,000 barrels of oil a day between 2013 and 2014, Chief Financial Officer Janet Clark said. Marathon and block operator BP continue to assess other prospective developments in the field, Clark added. Fox Business/Dow Jones Newswires
(4/17)
| Policy Watch | | |
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- Key energy bills clear House committee
A bill to ensure that Environmental Protection Agency rules don't contribute to surging gasoline prices was cleared by Republicans on the Energy and Power panel of the House Energy and Commerce Committee. Under the measure, the agency would be barred from completing pollution rules until a Cabinet-level panel studies its potential effects on fuel prices. Republicans on the committee also cleared a measure that would boost domestic energy leasing and exploration if President Barack Obama releases oil from the Strategic Petroleum Reserve. The Hill/E2 Wire blog
(4/17)
- Keystone XL language could prompt Obama veto of highway bill
President Barack Obama could veto a key House highway-funding bill because it includes a provision to streamline the approval of TransCanada's Keystone XL pipeline. "Because this bill circumvents a longstanding and proven process for determining whether cross-border pipelines are in the national interest by mandating the permitting of the Keystone XL pipeline before a new route has been submitted and assessed, the president's senior advisers would recommend that he veto this legislation," the White House said in a formal statement of policy. The Hill/E2 Wire blog
(4/17)
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Workshop on USCG Regulations for Facility Security Officers
Learn about the requirements for Facility Security Officers released in the U.S. Coast Guard Final Rule: Part 105, Subpart B. Course materials include a reference CD of more than 30 helpful related documents including the regulation, NVICs, API Security Vulnerability Assessment for the Petroleum Petrochemical Industries and numerous DHS bulletins. Learn more.
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