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November 2, 2012
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News for the oil and natural gas industry

  Top Story 
 
  • API welcomes EPA's plan to guarantee authenticity of RINs
    The Environmental Protection Agency's plan to guarantee the authenticity of renewable identification numbers was welcomed by the American Petroleum Institute. The proposal includes a quality assurance program, which would be developed by independent parties. "However, EPA needs to address the issue of RIN validity and restore confidence in the RIN market quickly," said Bob Greco, downstream group director at API. Oil & Gas Journal (11/1) LinkedInFacebookTwitterEmail this Story
3rd Shale Gas Water Management: Cost Reduction Initiative
Dallas, Nov 28-29: Driving down costs and optimizing water management strategies in the regulatory confinements of Texas, Louisiana, Oklahoma and Arkansas. Pioneer, Shell, Chesapeake, Chaparral, Blackbrush, Encana, Anadarko & more. The only water management event dedicated to Southern State shale plays. Plus Workshops from DuPont & Flex-Chem - Click Here For More Information
  Industry News 
 
  • ExxonMobil buys shares in Gulf blocks
    ExxonMobil purchased shares in the Thorn and Phobos blocks in the Gulf of Mexico in the third quarter, said David Rosenthal, the company's vice president of investor relations. Reuters (11/1) LinkedInFacebookTwitterEmail this Story
  • Chesapeake to improve financial flexibility with $2B loan
    Chesapeake Energy has received a $2 billion loan to strengthen its financial flexibility and repay debt, Chairman Archie Dunham said. The company also sold about $11.6 billion in properties this year following the completion of its Permian Basin asset sale. "We continue to believe that Chesapeake's portfolio of assets and dedicated employees are second to none, and we have confidence in the company's ability to achieve its stated financial and operational goals," Dunham said. The Oklahoman (Oklahoma City) (11/1) LinkedInFacebookTwitterEmail this Story
  • Crescent Point spends $784M to acquire Ute Energy
    Canada's Crescent Point Energy will spend $784 million to acquire Ute Energy Upstream Holdings. The deal gives Crescent oil production in Utah's Uinta basin. "We believe we can apply the extensive horizontal multi-stage fracture stimulation expertise that we've developed in Canada to the Uinta Basin to deliver long-term value to our shareholders," said Scott Saxberg, president, CEO and director of Crescent. Reuters (11/1) LinkedInFacebookTwitterEmail this Story
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  Exploration & Production 
  • All U.S. states to benefit from oil, gas drilling boom, study finds
    All 50 U.S. states are expected to benefit from the oil and natural gas drilling boom, which has already generated jobs in producing states, according to a report commissioned by the American Clean Skies Foundation. Drilling is expected to back turbine manufacturing, sand mining and other activities outside of drilling, the report found. "This report helps us put a face on the large economic stimulus that shale gas production has provided for America," said Gregory Staple, CEO of ACSF. FuelFix.com (11/1) LinkedInFacebookTwitterEmail this Story
  • BP details drilling program in Libya
    BP's Libyan drilling campaign will include 17 exploration wells, both offshore and onshore, a company official said. The 2011 Libyan war prompted BP to impose a "force majeure" on its operations in the country. "We have lifted force majeure and started the exploration program in Libya," said Jasper Peijs, BP's exploration manager-eastern hemisphere. Reuters (11/1) LinkedInFacebookTwitterEmail this Story
  Policy Watch 
  • GOP lawmakers unveil data to help offshore-drilling probe
    Workers at the Department of the Interior's Office of the Inspector General believe the office has "quashed investigations" and has failed to work independently from the department, according to new data presented by Republican senators. The information was released to help a probe into the department's decision to implement an offshore-drilling moratorium. "The moratorium crushed thousands of jobs -- many of which Louisiana is still suffering from -- and it's pretty outrageous and offensive to know that politics were more of an influence than sound science," said Sen. David Vitter, R-La. The Hill/Floor Action blog (11/1) LinkedInFacebookTwitterEmail this Story
  • U.S. needs to review natural gas export policy, lawmaker says
    Sen. Ron Wyden, D-Ore., urged the U.S. to reevaluate a policy that permits exports of natural gas to the country's free trade partners. "It could harm the nation's ability to achieve energy independence, combat pollution and preserve the environment, and improve the economic competitiveness of American manufacturers," Wyden said. Reuters (11/1) LinkedInFacebookTwitterEmail this Story
  • Industry group warns against fracking ban in Md.
    Maryland won't enjoy the economic benefits of the natural gas drilling boom if it clears a ban on hydraulic fracturing, industry representatives said. State Delegate Heather Mizeur seeks to reintroduce legislation that would freeze drilling permits while environmental studies are conducted on fracking. "I think the people who would author a ban or a moratorium on this process would have to explain to a lot of people in the state why they voted against them getting jobs," said Steve Everley, a spokesman for Energy in Depth. The Washington Times (11/1) LinkedInFacebookTwitterEmail this Story
  API News 
  • Cybersecurity Conference for Oil, Gas Industry, Nov. 13 and 14
    The American Petroleum Institute will host the 2012 API Cybersecurity Conference for the Oil and Gas Industry on Nov. 13 and 14 in Houston. This conference will reflect on the issues and strategies of enhancing critical infrastructure operations of the oil and natural gas industry. This conference provides an excellent opportunity to network with IT management, IT security professionals and business leaders. Visit the conference website. LinkedInFacebookTwitterEmail this Story
  • Requirements for a Safety and Environmental Management System
    The course provides an overview of the current requirements for developing a Safety and Environmental Management System incorporating the current federal regulations in 30CFR250, Subpart S, API RP75 (Recommended Practice for Development of a Safety and Environmental Management Program for Offshore Operations and Facilities), and the latest Notices to Lessees from the BSEE. Students will leave with an understanding of each requirement of the regulation and its associated API recommended practice, as well as a review of possible methods of fulfilling the requirements, relating them to other management systems and the techniques used in those management systems. Learn more. LinkedInFacebookTwitterEmail this Story
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