Drilling – Page 78 – Oil & Gas 360

Duke Energy, Piedmont Natural Gas, Dominion, AGL Resources Propose to Move Marcellus/Utica Shale Gas via $5 Billion Atlantic Coast Pipeline

September 4, 2014

Duke Energy (ticker: DUK), Piedmont Natural Gas (ticker: PNY) and AGL Resources (ticker: GAS) have selected Dominion (ticker: D) to build and operate a 550-mile interstate natural gas pipeline from West Virginia, through Virginia and into eastern North Carolina to meet the region’s rapidly growing demand for natural gas, the companies announced Tuesday. The pipeline cost estimate is between $4.5

Natural Gas Revisited: What will Storage Builds do for Spot Prices?

September 4, 2014

The Energy Information Administration reported a build of 79 Bcf for the week ended August 29, 2014, in its latest Weekly Storage Report. The new inventory total of 2,709 Bcf is 471 Bcf less than 2013 and 495 Bcf below the five-year average (approximately a 15% difference). The build marks the 18th straight week of gains greater than 74 Bcf,

Oryx Petroleum Resumes Operations in Iraq

September 4, 2014

After security concerns in the region prompted a mid-August suspension of operations on its Hawler license in the Kurdistan Region of Iraq, Oryx Petroleum Corporation (ticker: OXC) announced that it has now resumed crude oil production and sales into the domestic market at the Demir Dagh field at rates in excess of those prior to the temporary halt in August.

Enhanced Oil Recovery may have A Secret Weapon

September 3, 2014

You don’t need to consult an engineer to know each and every shale play is different. Generating the highest possible recovery is a constant chess game run by E&Ps around the globe, and every play has something else to offer. The trend of increasing fracturing stages and proppant/sand use per stage was a popular topic in breakout sessions at EnerCom’s

Europe Looks at Emergency Energy Plans if Russian Gas is Shut Off

September 3, 2014

Yesterday Reuters reported that an emergency energy plan was being constructed for Europe, should gas stop flowing through the pipelines that connect European homes with Russia’s natural gas. “Kiev is warning that Russia plans to halt gas supplies while Moscow says Ukraine could siphon off energy destined for the European Union – which has just threatened new sanctions if Moscow

Callon Petroleum’s $212.6 Million Acquisition Boosts Permian Horizontal Drilling Inventory by 67%

September 2, 2014

Callon Petroleum Company (ticker: CPE), a Permian Basin pure-play E&P, announced the addition of 6,230 gross acres (3,862 net) in the oil province on September 2, 2014. The properties were purchased for $212.6 million in cash and are near CPE’s existing operations in Carpe Diem and Pecan Acres in Midland County, Texas. The sale is effective May 1, 2014 and

Strategic Oil & Gas: An Asteroid Crater is this Canadian Junior’s Ticket for Growth

September 2, 2014

Unconventional drilling and varied completion techniques are receiving plenty of attention from E&Ps in the ever-growing shale market. Shale play hot spots have emerged in turn with drilling advancements, and the majority of producers mention what they learn from their peers. Strategic Oil & Gas (ticker: SOG.TO), however, went a truly unconventional direction. The company is exploiting an asteroid crater

EIA Report: June Dry Gas Production 70.2 Bcf/day, Consumption 58.2 Bcf/day

August 29, 2014

The EIA released its August Natural Gas Monthly report, including production data through June as follows: Preliminary dry gas production for June 2014 of 2,106 billion cubic feet (Bcf) or 70.2 Bcf/day. This is the fourth consecutive month where the Bcf/day dry production value set the record for the highest ever for any month. June’s 70.2 Bcf/day is a slight

District Judge Overturns Lafayette, Colo.’s Charter Amendment Banning All Oil and Gas Activity

August 28, 2014

In November, voters in the city of Lafayette, Colorado approved Ballot Measure 300, which banned all “oil and gas extraction and related activities” within the Lafayette city limits. Lafayette is at the western edge of the Wattenberg field in the Denver Julesburg Basin, where horizontal drilling into the Niobrara has taken off in the past three years. On Aug. 27,

Rail Deliveries of U.S. Oil Reach Highest Mark Since July 1986

August 28, 2014

Approximately 2/3 of Bakken crude moves by rail The amount of crude oil and refined petroleum products moved by U.S. railroads increased 9% during the first seven months of this year compared with the same period in 2013, the EIA said in a report today. “In July, monthly average carloadings of oil and petroleum products were near 16,000 carloads per

CNBC: Range Resources Jeff Ventura on Marcellus Production Growth

August 28, 2014

The industry will celebrate the 10th Anniversary of the first Marcellus well that was drilled by Range Resources back in October 2004. Jeff Ventura appeared on CNBC’s Mad Money with Jim Cramer to discuss near-term production growth objectives in the Marcellus. Important disclosures: The information provided herein is believed to be reliable; however, EnerCom, Inc. makes no representation or warranty as

CNBC: Denbury Resources CEO on CO2 EURs from EnerCom in Denver

August 28, 2014

Denbury Resources President and CEO Phil Rykhoek appeared on CNBC’s Mad Money from EnerCom’s The Oil & Gas Conference in Denver to discuss the company’s growth and income strategy. Important disclosures: The information provided herein is believed to be reliable; however, EnerCom, Inc. makes no representation or warranty as to its completeness or accuracy. EnerCom’s conclusions are based upon information

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