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March 21, 2013
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News for the oil and natural gas industry

  Top Story 
 
  • EIA: U.S. oil production to exceed imports by end of 2014
    U.S. oil production is expected to top imports by 2 million barrels a day by the end of next year, according to the Energy Information Administration. This would mark the first time in two decades that production surpasses imports. "This projected change is primarily because of rising domestic crude oil production, particularly from shale and other tight rock formations in North Dakota and Texas," the EIA said. U.S. News & World Report (3/20) LinkedInFacebookTwitterEmail this Story

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  Industry News 
 
  • Central Gulf lease sale is successful, feds say
    The federal government received $1.6 billion in its recent drilling lease sale covering the central Gulf of Mexico. The auction is one of the highest grossing in the central Gulf since the start of area-wide leasing, according to Bureau of Ocean Energy Management officials. "It serves as a reminder that the Gulf of Mexico, and, in particular, the deepwater Gulf, will continue to play a major role in future energy development in the country," said BOEM Director Tommy Beaudreau. FuelFix.com (3/20) LinkedInFacebookTwitterEmail this Story
  • BP skips Gulf energy lease sale: BP didn't participate in the federal government's energy lease sale covering tracts in the Gulf of Mexico Wednesday. The decision indicates that the company doesn't believe it can resolve a contract suspension within the time frame for the review of bids and the awarding of leases, some say. "We hope we can reach a reasonable resolution with regulators so that America's top energy investor over the past five years can once again enter into new contracts with the U.S. government," BP spokesman Geoff Morrell said. The Wall Street Journal (3/20) LinkedInFacebookTwitterEmail this Story
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  Exploration & Production 
 
  • Analysts up reserve estimate for Anadarko's Gulf project
    Several analysts believe Anadarko Petroleum's Shenandoah field in the Gulf of Mexico contains larger reserves than the company's estimate of more than 300 million barrels of oil. They cited the results of the Shenandoah-2 appraisal well, which found over 1,000 feet of net oil pay. "The deepwater Gulf of Mexico is witnessing an astonishing run of discoveries and hydrocarbon augmentation," according to Simmons & Co. International. Reuters (3/20) LinkedInFacebookTwitterEmail this Story
  • XTO may reconsider drilling near N.D. landmark, spokesman says
    It is too soon to tell whether XTO Energy will proceed with drilling at a site near the Elkhorn Ranch in Theodore Roosevelt National Park in North Dakota, the company said. "Reports that we are drilling or intending to drill on a site adjacent to the Elkhorn Ranch were premature," said Jeff Neau, a spokesman for XTO. "We've closely examined a number of issues concerning this particular site and have shared our concerns with the U.S. Forest Service throughout our discussions." The Forum (Fargo, N.D.-Moorhead, Minn.) (free registration) (3/19) LinkedInFacebookTwitterEmail this Story
LNG 17 ONLINE REGISTRATION EXTENDED — 29 MARCH
Great news! Online delegate registration for this year's biggest global gas event has now been extended to 29 March. Please note that this is the final deadline. Registering online will give you access to the LNG 17 event app which offers an exclusive delegate-to-delegate networking facility. Register: LNG17.org
  Refining & Marketing 
  • Phillips 66 refineries to consume more North American crude oil
    Phillips 66 struck several agreements to secure up to 130,000 barrels a day of crude oil from North America for its U.S. refineries. The transactions cover terminal and rail loading services and a pipeline project. "Increasing our utilization of those advantaged crudes should allow us to capture significant value in our refining and marketing businesses," said Phillips 66 Chairman and CEO Greg Garland. FuelFix.com (3/20) LinkedInFacebookTwitterEmail this Story
  Policy Watch 
  • GOP lawmakers express concern about impact of EPA ethanol policy
    U.S. gasoline prices could increase further before the summer driving season because of the Environmental Protection Agency's ethanol mandate, two Republican senators said. Under the policy, refiners would be tasked to purchase credits from renewable fuel producers to meet federal biofuel targets. "We ask that you utilize any and all existing regulatory authority and flexibility to address the issue of rising [Renewable Identification Number] costs and alleviate the threat of increased consumer fuel costs," the lawmakers wrote in a letter to Gina McCarthy, the nominee for EPA administrator. Reuters (3/20) LinkedInFacebookTwitterEmail this Story
  • Northeast drillers, green groups reach fracking standards deal
    Several major energy firms have struck a deal with environmental groups on the creation of strict standards for hydraulic fracturing in the Northeast. The standards cover groundwater protection, methane emission limits, enhanced well designs and the consumption of less fracking fluid. "This is a bit of a unique coming-together of a variety of different interests," Bruce Niemeyer, president of Chevron Appalachia, said in describing the agreement. FuelFix.com/The Associated Press (3/20) LinkedInFacebookTwitterEmail this Story
  API News 
  • Center for Offshore Safety First Annual Forum, April 29 and 30
    The Center for Offshore Safety is focused on promoting the highest levels of safety and environmental protection for offshore drilling, completions and production operations in deepwater Gulf of Mexico. The First Annual Forum's agenda has been created to provide an update on progress made by the Center and its cross-industry work groups, including SEMS Audit tools and SEMS good practices. The agenda is complemented by interactive panel sessions regarding SEMS implementation and industry experiences. The Forum is an excellent opportunity to gain an insight and understanding of SEMS, SEMS implementation, SEMS auditing, and the work being undertaken by the COS. Learn more. LinkedInFacebookTwitterEmail this Story
  • Tell Secretary Kerry to approve the Keystone XL pipeline
      
    The Keystone XL pipeline is once again facing growing opposition, but we can't afford to let the critics drown out our voices. For every dollar we invest in Canada, nearly 90 cents will be returned to our economy -- creating thousands of American jobs. Don't let this vital opportunity slip away. Voice your support for the Keystone XL pipeline and American prosperity. Take action today. LinkedInFacebookTwitterEmail this Story

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  Editor's Note 
  • Correction
    An item in the March 20 API SmartBrief misstated the estimated amount of recoverable oil in the Marcos Shale. The formation could hold 1.8 billion barrels of oil. SmartBrief regrets the error. LinkedInFacebookTwitterEmail this Story
 
 
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