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

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  • EPA postpones emissions rules for oil, gas drilling
    The issuance of proposed emissions rules covering oil and natural gas drilling operations will be delayed for about two weeks, the Environmental Protection Agency said, adding that more time is needed to study input from the public. The proposed rules could slow drilling using hydraulic fracturing, because companies won't be able to acquire the necessary emissions-reduction equipment immediately, according to the American Petroleum Institute. "I want to be clear that we are not opposing the rule but stating that the rule needs to change in key areas to avoid negative impacts to domestic production and job creation," said Jack Gerard, API's president and CEO. FuelFix.com (4/2), Oil & Gas Journal (4/2) LinkedInFacebookTwitterEmail this Story
The First Congress 100% Dedicated To California Oil
Understanding The Heterogeneity And Complex Geology Of The Fractured Monterey Formation, Oil-Rich Diatomite And Surrounding Californian Sediments
Click here to view the Summit website
  Industry News 
  • KKR Natural Resources acquires assets from WPX Energy for $306M
    KKR Natural Resources spent $306 million to acquire assets in the Arkoma Basin and Barnett Shale from WPX Energy. The properties include 320 wells and 91 miles of pipeline in eastern Oklahoma and North Central Texas, and 525 wells and 115 miles of pipeline in the Arkoma. "We see attractive opportunities to invest behind the development of domestic energy resources and remain excited about the opportunity to grow our natural resources platform by continuing to acquire non-core oil and gas properties from high quality operators," KKR Natural Resources chief Jonathan Smidt said in a statement. Fox Business (4/2) LinkedInFacebookTwitterEmail this Story
  • Brazil prosecutor seeks sanctions against Chevron over oil spill
    Brazil should suspend the operations of Chevron and Transocean in the country until they address the environmental damage from a November offshore oil spill, said Brazilian Prosecutor Gisele Porto. Authorities should impose a $273 million-per-day fine against the companies if they refuse to follow the order, Porto added. Bloomberg (4/1) LinkedInFacebookTwitterEmail this Story
Selling your business? Here are 7 things you should do now.
If you're considering selling your business, you should be doing everything you can to get the best possible price. In just 7 simple steps you can improve your chances of attracting buyers and getting big bucks for your business. Read the article and learn the 7 steps.

  Exploration & Production 
 
  • Nexen discovers more oil in Gulf acreage
    Nexen announced the discovery of more hydrocarbons at the Appomattox prospect in the Gulf of Mexico. The project's northeast fault block holds estimated recoverable resources amounting to approximately 215 million barrels of oil equivalent, the Canada-based company said. "It enhances our resource base at Appomattox and builds our confidence in finding more oil in our significant Gulf of Mexico Norphlet play acreage position," said Kevin Reinhart, Nexen's interim president and CEO. Calgary Herald (Alberta) (4/3) LinkedInFacebookTwitterEmail this Story
  • Other News
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  Policy Watch 
  • GAO notes progress in Interior's well-containment regulations
    The Department of the Interior has improved its monitoring of the oil and natural gas industry's offshore-well blowout-response capabilities, according to a report from the Government Accountability Office. However, the department lacks full documentation of procedures for well-containment studies, the report stated. "Similarly, [Interior] does not have a documented process for monitoring the availability of equipment identified in operators' well containment plans, but [it] requires operators to list multiple and redundant vessels and equipment in their well containment plans, and [Interior] officials believe this sufficiently mitigates the risk if certain equipment is unavailable," GAO said. Oil & Gas Journal (4/2) LinkedInFacebookTwitterEmail this Story
  • Texans raise some fracking concerns despite disclosure rule
    Hydraulic fracturing operations in the Eagle Ford Shale in Texas are still drawing concern from the public, despite a state policy requiring energy companies to disclose some of the chemicals used in the drilling technique. "The regulation is fine, but it's not going to do any good," said David Trotter, an oil and natural gas attorney. "No one will know how to interpret what things go into the frack job one way or another, whether it's doing any harm or good," he said. Houston Chronicle (4/1) LinkedInFacebookTwitterEmail this Story
  API News 
  • API-U
    API-U offers training any way you want it, anywhere you want it. Attend one of our instructor-led classes designed to help you get more out of API Standards or choose from more than 140 of our e-Learning courses in mechanical maintenance, electrical maintenance, instrumentation and control, industrial math, and science and safety. Learn more. LinkedInFacebookTwitterEmail this Story
  • 78th Annual API Federal Tax Forum, May 7 and 8
    The forum is one of the only legal conferences focusing on federal oil and gas taxation and is consistently praised by participants as an excellent learning opportunity. It is open to private lawyers and accountants interested in this area and attracts speakers who are leading authorities in their fields. The topics covered at the forum are usually selected to address both basic and advanced issues on the U.S. taxation of domestic and international oil and gas operations. Learn more. LinkedInFacebookTwitterEmail this Story
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