June 2014 – Oil & Gas 360

Booming D-J Has Voters, Politicians, Oil & Gas Companies Bracing for New Regulations

June 30, 2014

Public sentiment about hydraulic fracture stimulation (fracing) and other aspects of oil and gas exploration and production in Colorado has generated a lot of sentiment in recent months. A variety of Colorado municipalities want to institute local rules, ballot initiatives have been proposed, signatures are being collected, Congressman Jared Polis and Governor John Hickenlooper have weighed in, some local bans

PetroQuest Energy Sets Another Company Record in Cotton Valley; Agrees on Joint Venture with Midstates Petroleum

June 30, 2014

PetroQuest Energy (ticker: PQ) is an independent energy company engaged in the exploration, development, acquisition and production of oil and natural gas reserves in the Arkoma Basin, East Texas, South Louisiana and the shallow Gulf of Mexico. The company has largely transitioned from gas drilling to focusing on liquids-rich projects and expects 2014 to be its best year in company

Marcellus and Utica Outpacing Regional Infrastructure as Production Estimates Continue to Rise

June 27, 2014

Acute need: 6 new pipeline projects under construction + 19 awaiting approval could add 3.5 Bcf/d capacity in 2015 The United States natural gas boom, spearheaded by the expanded development of the Marcellus Shale, has boosted the country to become the world’s top natural gas producer. Reports from the EIA show production from the Marcellus has increased, on average, by

With Sanctions Relaxed and Iraq in Turmoil, India Looks Toward Iran for More Crude Oil

June 27, 2014

India has extended approval by six months, beginning June 28, for two Iranian ship underwriters to provide insurance for container, tanker and bulk vessels calling at Indian ports, the Wall Street Journal reported yesterday. The decision to relax sanctions against Iran by the West has enabled tankers to transport oil and petroleum products from Iran. The extension will let India,

Loveland, Colo. Gives Thumbs Up to Hydraulic Fracturing

June 26, 2014

Residents of Loveland voted against a moratorium on fracing on June 24, the first city in Colorado to do so. Loveland is the sixth Colorado city to put a halt on fracing to a vote according to the Coloradoan. The other five—Boulder, Fort Collins, Lafayette, Broomfield and Longmont—have put delays, bans, or restrictions on fracing. Loveland has passed restrictions in

Synergy Resources VP Jon Kruljac Comments on SYRG’s Downspacing Program in the Wattenberg

June 26, 2014

Synergy Resources Corporation (ticker: SYRG) is a domestic oil and natural gas exploration and production company with 392,000 gross (286,000 net) acres under lease. Synergy’s core area of operations and all of its production comes from the Denver-Julesburg Basin, which encompasses Colorado, Wyoming, Kansas and Nebraska. The company’s core operations are focused on the Wattenberg Field. Currently, two rigs are

Gardner’s LNG Bill Zips Through the House

June 26, 2014

According to govtrack.us, U.S. Representative Cory Gardner passed his H.R. 6 bill, also known as the Domestic Prosperity and Global Freedom Act, through the House on June 25, 2014. The bill passed on a count of 266-150, with 46 Democrats voting in favor of the bill. The first draft of H.R. 6 was designed to allow the Department of Energy

Breaker, One Nine… I’m Pullin' Over for Some Shale Gas

June 26, 2014

Natural gas-powered trucks gaining popularity with over-the-road freight haulers When you take the family out for the summer road trip, that 18-wheeler you are about to pass might be a Kenworth T680 road tractor with a concealed bank of compressed natural gas (CNG) tanks and a Cummins Westport natural gas engine. After nine decades of truck manufacturing, Kenworth Truck Company,

Will North Dakota Push OPEC Members Out of the Top 20?

June 25, 2014

Driving around the oil fields of North Dakota outside of Minot, you’re struck by the fact that you are surrounded by thousands of square miles of rich, expansive farmland—green fields as far as the eye can see. But it’s what lies beneath North Dakota’s canola crop that kicked off a statewide celebration this week. The state achieved a notable milestone:

Deepwater Drilling Going Deeper

June 24, 2014

Maersk Drilling Orders Industry’s First 20-ksi Deepwater Blowout Preventers for 2 Ultra-Deepwater Drilling Rigs Maersk Drilling (Ticker: MAERSK-B.CO) has ordered four blowout preventers (BOPs) and two risers from GE Oil and Gas (Ticker: GE). The GE Oil and Gas BOPs will make it possible for offshore drillers to safely and efficiently operate in high-pressure and high-temperature reservoirs up to 20,000

Supreme Court Supports the Constitution but the EPA Retains Its Power to Curb Carbon Emissions

June 24, 2014

On Monday, June 23, the Supreme Court ruled against the Environmental Protection Agency’s (EPA) expansion of authority for the first time in years. The case was Utility Air Regulatory Group v. Environmental Protection Agency et al. A major part of the case was the EPA’s attempt to bypass Congressional support for any regulations it might want to pass. Justice Scalia

ExxonMobil Opens at Lifetime High, Holding onto Gas Opportunities from 2010 XTO Merger

June 24, 2014

ExxonMobil (ticker: XOM) is the largest publicly traded international oil and gas company, with an estimated 25.2 billion BOE of reserves in its 2013 year-end report. The company has a market cap of approximately $441 billion and is the world’s largest refiner and marketer of petroleum products. ExxonMobil’s stock price opened at $104.25 per share on June 24, 2014 – a company

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