Oilfield services Archives - Page 65 of 70

Shell Divests Pinedale and Haynesville, Adds 155,000 Net Acres in the Marcellus and Utica

August 15, 2014

Royal Dutch Shell (ticker: RDS.A) is shifting around its U.S. onshore assets. Yesterday, the company announced it will acquire 155,000 net acres in the Pennsylvania Marcellus and Utica from Ultra Petroleum (ticker: UPL). Ultra agreed to pay Shell $925 million for 100% of Shell’s Pinedale asset in Wyoming. In separate agreement, Shell has agreed to sell 100% of its Haynesville

What to Expect from EnerCom’s The Oil & Gas Conference 19®

August 15, 2014

For the 19th year, analysts, investors and industry professionals will descend on Denver, Colorado, for EnerCom’s annual installment of The Oil & Gas Conference. The event started as a one day affair in August of 1996, with eight company presenters and 86 people in attendance. Eighteen years later, the Conference has grown to the largest Oil & Gas investor conference

Next Tuesday: Alaska’s Voters Decide How Much Tax O&G Companies Must Pay the State

August 14, 2014

If 35% Flat Tax Is Repealed, Higher Production Taxes Could Again Slow Oil and Gas Development On August 19, Alaskan citizens will vote on a ballot that determines the taxing fate of the oil and gas production companies working in the state. The vote will happen at the same time as the primary elections. Last year, the Alaskan Senate passed

$2.7 Billion in New Marcellus Pipeline Infrastructure Announced this Week

August 14, 2014

In the first of two announcements this week, PennEast Pipeline LLC and UGI Energy Services (ticker: UGI) announced plans to build a 100 mile, $1 billion 30-inch gas pipeline from Pennsylvania and New Jersey to take Marcellus gas production to market. The PennEast pipeline is designed to take 1 Bcf of natural gas per day, which can supply gas to

Welcome the Shale Boom, Welcome Jobs

August 14, 2014

Fred Upton, Chairman of the House Energy & Commerce Committee, referenced this week’s Fox News special report entitled “No Fracking, No Boom” in his blog update today. The blog compared the jobs-driven economic uplift in Pennsylvania to New York’s southern counties’ six year employment decline in the absence of shale development in his blog post today. The Chairman’s state of

Petrobras Brings in North Jupiter Well, Achieves Production Records in July

August 13, 2014

Brazil Mourns Death of Presidential Candidate Eduardo Campos Petrobras (ticker: PBR), the Brazilian integrated oil and gas company, announced today the extension of the Jupiter discovery in Santos Basin pre-salt block BM-S-24 following drilling operations at well 3-BRSA-1246-RJS (3-RJS-732), informally known as Apollonia. Petrobras is scheduled to present at EnerCom’s The Oil & Gas Conference 19® on Tuesday, August 19,

Mexico Prepares for Hydrocarbon Bidding War; Supermajors Lie in Wait

August 13, 2014

For 76 years, Mexico’s state-owned oil company Petroleos Mexicanos, or Pemex, has been the government-enforced monopoly over all of the country’s oil and gas industry efforts. Roughly one-third of all of Mexico’s tax revenues is derived from Pemex, according to Reuters. Like many other countries with government-owned oil and gas monopolies, Mexico has not reinvested enough in Pemex for it

Utica Shale Graduates to EIA’s Drilling Productivity Report

August 12, 2014

The Utica Shale made its first ever appearance on the Energy Information Administration’s (EIA) Drilling Productivity Report on August 12, 2014. The Report first debuted on October 22, 2013, and detailed various elements of six major plays, including production rates, rig counts and decline rates on legacy wells. The Utica is the first play to be added to the list,

Russia’s Sanctions: Who will Blink First?

August 12, 2014

Gennady Timchenko, Russian billionaire and holder of 23% of the stake in Rosneft and Novatek, and Igor Sechin, chief executive of the Kremlin-controlled oil group Rosneft, seem confident that their companies will survive and prosper despite financing sanctions imposed by the United States in July. According to the Financial Times, “Novatek, Russia’s largest independent gas producer, is sitting pretty. It

MLPs are All the Rage in Growing Oil & Gas Industry

August 11, 2014

Rice Energy (ticker: RICE) announced the intent to form a master limited partnership (MLP) prior to its Q2’14 earnings release on August 11, 2014. The announcement comes less than seven months after Rice closed its initial public offering in January 2014. The MLP offering is expected to consist of the company’s Pennsylvania gas gathering assets and will likely close in

Will North Dakota Tribes Collect Royalty Payments for Flared Gas?

August 11, 2014

Three Native American tribes whose land hosts up to one third of North Dakota’s 1 million BOPD production have asked oil companies to pay royalties on the natural gas they are burning off, or flaring, from oil wells on Indian lands in Fort Berthold. The reservation’s one million acres are home to the Mandan, Hidatsa and Arikara tribes. “The Three

Malaysia’s US$27 Billion RAPID Integrated Refinery/LNG/Petrochemical Complex Moves Forward

August 11, 2014

Pengerang, Malaysia is the designated site for RAPID—Refinery and Petrochemicals Integrated Project—a mega-sized refinery and energy-focused industrial and petrochemical complex. RAPID was launched to boost Malaysia’s future energy needs, economic growth and to establish Petronas’ position as a key player in the Asian chemicals market. The 2,526-hectare site in Pengerang, Johor, is part of the Johor State’s Pengerang Integrated Petroleum

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