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December 3, 2012
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News for the oil and natural gas industry

  Top Story 
 
  • Cooperation is key to development of Okla. oil play, exec says
    Cooperation among energy firms plays a key role in efforts to exploit the Mississippi Lime formation, which stretches from Oklahoma to Kansas, said Robert Sullivan, owner of Sullivan and Co. and chairman of the Oklahoma Independent Petroleum Association. "The faster we learn how best to drill, produce and complete the Mississippi rock, the sooner we will realize the rewards on our respective lease blocks and the greater those rewards will be," Sullivan said. The Oklahoman (Oklahoma City) (11/30) LinkedInFacebookTwitterEmail this Story
Join experts in March to discuss Bakken crude logistics
Leaders in oil production, transportation, logistics & related services are invited to attend the 2nd Annual Bakken Crude Oil Logistics Conference at the JW Marriott in Houston on March 7-8, 2013. Building on 2012's well-attended event, The Petroleum Institute encourages you to attend, exhibit at, or sponsor the only event focused on this vital topic.
  Industry News 
 
  • BP seals $5.5B sale of Gulf properties to Plains
    BP's $5.5 billion sale of its Gulf of Mexico properties to Plains Exploration and Production has been finalized, the U.K. oil major announced. BP's post-Gulf oil spill asset sales have now reached $37 billion following the deal's completion. "This further demonstrates the significant value BP has been able to realize through the sale of non-strategic assets," said BP CEO Robert Dudley. FuelFix.com (11/30) LinkedInFacebookTwitterEmail this Story
  • Other News
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  Exploration & Production 
 
  • Industry groups concerned over BP's suspension from fed contracts
    The Environmental Protection Agency's decision to temporarily bar BP from new federal contracts in connection to the 2010 Gulf of Mexico oil spill could have "far-reaching impacts," according to a joint statement from the National Ocean Industries Association and the International Association of Drilling Contractors. "BP is the largest operator in the Gulf of Mexico, and its investments in the region create business opportunities for many other companies, create and sustain good jobs in the region, and generate much-needed government revenue," the groups said. FuelFix.com (11/30) LinkedInFacebookTwitterEmail this Story
  • EIA notes sharp increase in Oct. Marcellus Shale production
    Daily production from the Marcellus Shale formation totaled 6.8 billion cubic feet of natural gas in October, which represents a 72% increase from the same period last year, according to the Energy Information Administration. The output increase comes despite a decline in active rigs in the play, the report stated. There are 88 active Marcellus rigs in October after figures dropped by 53 over the past year, Baker Hughes said. Pittsburgh Post-Gazette (11/28) LinkedInFacebookTwitterEmail this Story
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  Policy Watch 
  • House Republicans are concerned about CDC fracking study
    Several House Republicans expressed concern about the Centers for Disease Control and Prevention's proposal to study a possible connection between water pollution and hydraulic fracturing. "Despite the significant growth of natural gas development, we are greatly concerned that the scientific objectivity of the Department of Health and Human Services is being subverted and countless jobs could be in jeopardy," the lawmakers wrote in a letter to Health and Human Services Secretary Kathleen Sebelius. The Hill/E2 Wire blog (11/30) LinkedInFacebookTwitterEmail this Story
  • Energy Dept. makes case for further shale research
    The federal government needs to support additional unconventional oil and natural research and development despite early breakthroughs, a Department of Energy official told a House subcommittee. "Unconventional resources are much larger in volume than are our conventional resource stores," said Anthony Cugini, director of the department's National Energy Technology Laboratory. "These resources, however, generally exist in more geologically complex settings or in more remote or environmentally sensitive areas, and require more intensive production methods." Oil & Gas Journal (11/30) LinkedInFacebookTwitterEmail this Story
  • U.S. won't abandon Canadian crude imports, envoy says
    Canadian exports of crude oil to the U.S. will continue even if the U.S. reaches energy self-sufficiency, said David Jacobsen, U.S. ambassador to Canada. "Establishing energy independence in North America opens doors for the United States and Canada and what we haven't done and what we don't intend to do is to close doors," he said during an energy summit in Canada. Jacobsen also discussed issues concerning U.S. approval of TransCanada's Keystone XL pipeline. Calgary Herald (Alberta) (11/30) 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
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