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

  Top Story 
  • Court approves BP, Justice Dept. deal on Gulf spill figures
    About 810,000 barrels of oil that BP captured from its leaking Macondo well in the Gulf of Mexico in 2010 won't be included in the calculation of fines against the company under the Clean Water Act, according to U.S. District Judge Carl Barbier. Both BP and the Department of Justice agreed that the captured oil "never came into contact with any ambient sea water and was not released into the environment in any way," the order states. The ruling could reduce BP's Gulf spill-related penalties by up to $3.5 billion. The Wall Street Journal (2/20) LinkedInFacebookTwitterEmail this Story
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  Industry News 
  • Chesapeake clears McClendon of misconduct over financing deals
    Outgoing Chesapeake Energy CEO Aubrey McClendon did not improperly benefit from his financing transactions with company partners, according to a probe by Chesapeake's board of directors. A report last year found that EIG Global Energy Partners, which was discussing a deal with Chesapeake, lent McClendon $1.4 billion. The board wanted to determine if McClendon sold the company's properties at a lower price to EIG in exchange for the loan. U.S. News & World Report/The Associated Press (2/20) LinkedInFacebookTwitterEmail this Story
  • Brazilian court drops oil-spill charges against Chevron, Transocean
    Transocean and Chevron verified that a Brazilian judge dismissed criminal charges against the companies over the Frade field oil spill in 2011. "We welcome this news that the Court recognized, with respect to the Frade event of November 2011, that Transocean's crews did exactly what they were trained to do, acting responsibly, appropriately and quickly while always maintaining safety as their top priority," said Guy Cantwell, a spokesman for Transocean. Reuters (2/20) LinkedInFacebookTwitterEmail this Story
  Exploration & Production 
  • Lithuanian minister touts Chevron's shale drilling plans
    Chevron's shale natural gas exploration plans in Lithuania earned the support of Jaroslav Neverovic, the country's energy minister. "We have to support new innovative opportunities to reduce the cost of the energy resources we consume," Neverovic said. Chevron's investments would also help Lithuania gain access to new technologies and generate jobs, he said. Bloomberg Businessweek (2/20) LinkedInFacebookTwitterEmail this Story
  • McMoRan: Onshore La. discovery holds large amount of reserves
    An ultra-deep onshore discovery in Louisiana made by McMoran Exploration and other firms holds about 546.7 billion cubic feet equivalent of proved, probable and possible oil and natural gas reserves, the company said. "These are the first of what we hope will be sizeable reserves from the sub-salt, ultra-deep trend onshore and in the shallow waters of the Gulf of Mexico," said James Moffett, co-chairman, president and CEO of McMoran. Platts (2/20) LinkedInFacebookTwitterEmail this Story
  • Transocean rig reaches water depth record
    Transocean's drilling rig operating off the Indian coast set a new record for the deepest water depth made by such units. The company's Dhirubhai Deepwater KG1 reached a depth of 10,385 feet, which is 191 feet more than the record it set in 2011. United Press International (2/20) LinkedInFacebookTwitterEmail this Story
  Policy Watch 
  • Sen. Landrieu makes case for Keystone XL pipeline approval
    Sen. Mary Landrieu, D-La., made her case for the approval of TransCanada's Keystone XL pipeline. Bitumen will be produced from Canada's oil sands, Landrieu said. "The question is: Who are they going to send it to? Are they going to send it to their good friend, the United States, to our refineries in Texas and Louisiana? Or are they going to ship it somewhere else in the world," she said. (2/20) LinkedInFacebookTwitterEmail this Story
  • Source: EPA, Energy Dept. nominees could be announced this week
    President Barack Obama could announce his choices to head the Environmental Protection Agency and the Department of Energy as soon as this week, a source familiar with the matter said. Gina McCarthy, the EPA Office of Air and Radiation assistant administrator, is expected to be nominated as EPA chief. Nuclear physicist Ernest Moniz, who is the director of the Massachusetts Institute of Technology's Energy Initiative, will be nominated as energy secretary, the source said. Reuters (2/20), The Hill/E2 Wire blog (2/20) LinkedInFacebookTwitterEmail this Story
  API News 
  • API Specification Q1 Training, QSI, March 20 to 21
    Learn how to how to achieve and maintain your license/certification. This two-day course will provide a working understanding of API Specification Q1 requirements. Attendees will be given the chance to examine all the requirements of API Specification Q1 through practical examples and will be provided insight as to the drivers behind Q1's importance in the oil and natural gas industry. Learn more. LinkedInFacebookTwitterEmail this Story
  • Another chance to support U.S. natural gas exports
    The Obama administration is asking for a second round of comments to get your thoughts on liquefied natural gas exports. Thanks to our abundant natural gas resources, America has a multibillion-dollar opportunity at its fingertips. According to a recent Department of Energy study, LNG exports have the potential to generate up to $47 billion in new economic activity in the U.S. by 2020. Don't wait: Tell the Department of Energy that we can't miss this opportunity to tap into our LNG potential. LinkedInFacebookTwitterEmail this Story

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