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November 7, 2012
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News for the oil and natural gas industry

  Top Story 
  • Energy sector prepares for Obama's second term
    The energy sector may see more stringent environmental regulations in President Barack Obama's second term despite the administration's goal to promote energy independence, according to an analysis. Tougher regulations for drilling could come, and a decision on exporting shale oil and natural gas may take longer than if Republican candidate Mitt Romney had won. Separately, the Environmental Protection Agency is preparing to release two reports that will guide hydraulic fracturing regulations. Reuters (11/7), Reuters (11/7) LinkedInFacebookTwitterEmail this Story
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  Industry News 
  • Former GE chairman seeks less burdensome rules on gas drilling
    The U.S. stands to benefit from easing regulations on natural gas development, said Jack Welch, former chairman of General Electric. Pennsylvania and West Virginia are leading the way in gas drilling because their policies aren't burdensome to energy firms, Welch said. "This gas thing is huge. The gas that we have found is in the first inning -- it's like the Internet in 1990. This is the first inning of the great American century," he said. CNBC (11/5) LinkedInFacebookTwitterEmail this Story
  • Antero, MarkWest forge joint Utica Shale development deal
    Antero Resources and MarkWest Utica EMG struck a deal to jointly develop properties in Ohio's Utica Shale formation. Under the deal, MarkWest will construct a natural gas liquids gathering system in Antero's Cadiz complex and a processing facility at the Seneca complex in the state. "MarkWest is a natural fit for Antero to partner with in the Utica to build the first processing complex near our acreage position, given their processing and fractionation plans in the Utica and the integration with their leading position in the Marcellus," said Paul Rady, chairman and CEO of Antero. American City Business Journals/Columbus, Ohio (11/6) LinkedInFacebookTwitterEmail this Story
  • Pa. college delays oil, gas leasing decision
    Westminster College in New Wilmington, Pa., has delayed a decision on leasing 340 acres of its property for energy exploration, officials said. "The property committee will continue to study the issue and has set no timetable for a decision to be made," officials said. Signing the leases could generate about $1 million up front for the college. Shale Reporter (11/6) LinkedInFacebookTwitterEmail this Story
  • Shell, Bashneft finalize crude oil supply agreement
    Royal Dutch Shell has finalized a two-year crude oil supply agreement with Russia's Bashneft. Under the terms of the $4 billion deal, Shell will provide up to about 330,000 tons of crude per month to Bashneft. Reuters (11/6) 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 
  • Marathon seeks to produce more from Texas, N.D. shale in 2013
    Marathon Oil seeks to ramp up its output in the Eagle Ford and Bakken shale formations in 2013. The company intends to produce 85,000 net barrels of oil equivalent per day in the Eagle Ford play and 33,000 net barrels of oil equivalent per day in the Bakken play next year, up from previous targets of 70,000 net BOE per day and 30,000 net BOE per day. Marathon also plans to boost production in Oklahoma as prices for natural gas and natural gas liquids recover. Rigzone/Dow Jones Newswires (11/6) LinkedInFacebookTwitterEmail this Story
  • Report: Canadian province holds significant shale resources
    The shale formations in Alberta, Canada, could hold 423.6 billion barrels of oil, 3,324 trillion cubic feet of natural gas and 58.6 billion barrels of gas liquids, a study from the Alberta Energy Resources Conservation Board and Alberta Geological Survey determined. The data indicates that the province has great potential outside of its oil sands. Reuters (11/6) LinkedInFacebookTwitterEmail this Story
Reducing Material Losses with Better Yield Accounting
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  Policy Watch 
  • IPAA seeks more transparency in endangered species review
    The Independent Petroleum Association of America has requested the U.S. Fish and Wildlife Service to shed more light on review procedures for endangered species via holding a public forum. "The pure depth and breadth of these settlement agreements could harm our membership and create uncertainty in the development of domestic oil and natural gas," IPAA President and CEO Barry Russell wrote in a letter to FWS Director Daniel Ashe. (11/6) 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 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
  • Class A, B, C Storage Tank Operator Training
    As recognized leaders in safety-training and storage-tank-compliance services, the American Petroleum Institute and Antea Group have joined forces to offer an online UST Operator Training program that meets both federal and state operator-training requirements as mandated by the Federal Underground Storage Tank Compliance Act of 2005. Our comprehensive program is state-approved, and includes Class A, Class B and Class C certification for storage-tank operators. All training content includes state-specific regulations and can be customized for various storage-tank configurations. Our unique online training is conveniently available 24 hours a day. Learn more. LinkedInFacebookTwitterEmail this Story
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