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Author Archives: Ross Torgerson

War of words escalates on proposed drilling bill

Webb drilling

AUSTIN – A bill designed to tighten the state’s control over oil and gas drilling became a war of words Monday with industry leaders praising the legislation for helping to reign in rogue city ordinances while community leaders attacked it for going too far, claiming it would dismantle existing ordinances in at least 300 cities. House Bill 40 would not ...

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Crews working to clean up Colorado coal train derailment

train derailment

HUDSON, Colo. — Crews are working to clean up a stretch of railroad where a coal train jumped the tracks in eastern Colorado, spilling tons of coal. The 120-car Burlington Northern Santa Fe train derailed Sunday near the town of Hudson. At least 27 freight cars derailed and lost their cargo as the train was traveling from Gillette, Wyoming to ...

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Myth vs. Reality: The top 5 oil and gas-related misconceptions

Misconceptions

With the oil and gas industry being as robust as it is, there are bound to be some highly popular misconceptions that come along with it. We’ve all heard them before, whether it be from people working in the industry or those simply benefiting from it. Whether it is the common belief that gas prices rise across the country due ...

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EnLink finalizes agreement to acquire Coronado Midstream

Coronado Midstream, which owns natural gas gathering and processing facilities in the Permian Basin, has officially been acquired by Dallas-based EnLink Midstream for approximately $600 million, the company said in a press release Monday. The company first announced an initial agreement to acquire Coronoado via press release in early February. EnLink has footprints in the Barnett, Permian, Eagle Ford and ...

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Is bankruptcy next for Sabine Oil & Gas?

After its recent departure from the New York Stock Exchange (NYSE), Houston-based Sabine Oil & Gas is now dealing with default claims, the Houston Business Journal reports. Issues have continued to arise after Sabine’s merger with Colorado-based Forest Oil when shareholders officially approved the merger last December. Sabine has yet to file its annual report, although the company says it ...

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Crude oil weaker, higher U.S. inventory expected

LONDON – Brent crude oil prices pared losses in choppy trading on Tuesday, but remained at the lowest levels since early February as traders refocused attention on the mounting supply glut. Rising U.S. crude oil stocks, an increase in Libyan oil production and the chance of an agreement between Iran and the West that could ease sanctions on the oil ...

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ConocoPhillips expects output to rise 13 pecent in next 3 years

ConocoPhillips expects production to climb 13 percent to touch 1.7 million barrels of oil equivalent per day (mmboed) in 2017. The company, whose forecast excludes output from Libya, produced 1.5 mmboed in 2014, a 4 percent rise from 2013. ConocoPhillips said on Tuesday it expects output to grow 2-3 percent in 2015. It did not specify a growth rate for ...

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New Mexico unemployment rate drops to 5.9 percent in January

ALBUQUERQUE, N.M. — New Mexico’s unemployment rate is down. The state Department of Workforce Solutions reports that the seasonally adjusted rate in January was 5.9 percent, down from 6 percent in December and 6.7 percent in January 2014. The department reports that the state’s nonfarm employment had 10,200 more jobs in January compared with January 2014, an increase of 1.3 ...

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N. Sea Forties Echo platform shut after collision

LONDON – The Forties Echo platform in the North Sea has been shut after being hit by a supply vessel, a spokesman for operator Apache North Sea said on Monday. Fifteen workers were taken off the platform and transferred to the nearby Forties Bravo platform following the collision, which happened at about 0840 GMT on Monday morning, the spokesman said. ...

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