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Tag Archives: Shale (Oil and Gas)

Oil industry keeps faith in the Monterey Shale

By John Cox |  The Bakersfield Californian (Bakersfield, Calif.) The federal government may have lost confidence in the economic potential of California’s Monterey Shale, but the oil industry’s faith in the formation remains unshaken. That much was clear Wednesday as three dozen oil company representatives gathered in Bakersfield for the first half of a two-day conference focused on the giant “source ...

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U.S. clarifies what lightly processed oil drillers can export

Timothy Gardner and Valerie Volcovici | Reuters WASHINGTON (Reuters) – U.S. energy markets marked a seismic shift on Wednesday after federal officials provided more clarity on what companies glutted with oil can ship to thirsty markets abroad, leading to expectations for a potential surge in shale oil exports. News that companies can export a type of ultra-light crude if it ...

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Crude export under attack

Eric Anderson | The Albany Times Union ALBANY — Exporting crude oil from the United States is “bad news” for U.S. consumers, a community activist in Albany warned Wednesday. Moves by the U.S. Commerce Department to allow two companies to ship what’s called processed condensate from south Texas’ Eagle Ford shale formation puts the U.S. on “a slippery slope in ...

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House, Senate advance bills to split Pa. oil, gas regulations

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Laura Legere | Pittsburgh Post-Gazette HARRISBURG — State House and Senate committees voted Wednesday to advance bills that would separate environmental regulations for the traditional drilling industry from rules designed for shale gas development. The identical bills, House Bill 2350 and Senate Bill 1378, moved forward with amendments to clarify that both proposed and existing regulations that apply to oil ...

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Energy boom fuels economic growth in Midwest states

 By Patrick Gillespie | McClatchy Washington Bureau WASHINGTON – While the national business outlook remains tepid, the energy sector is driving fast economic growth in some states. A drilling boom for oil shale and natural gas has spurred prosperity throughout the middle of the United States. Despite having mostly smaller economies compared with coastal states, these states will continue growing for ...

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Pa. House, Senate consider bills on oil, gas regulations

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Laura Legere | Pittsburgh Post-Gazette Two legislative committees are set to consider bills Wednesday that would split apart the state’s oil and gas regulations, a move meant to save the traditional drilling industry from having to comply with stricter environmental standards designed with shale gas operations in mind. Identical bills introduced in the House and Senate would require the state’s ...

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Fraud allegations bubble up in Eagle Ford

Patrick Danner | San Antonio Express News SAN ANTONIO — Texas’ two hottest oil plays have spawned more than riches: They’ve produced legal turmoil with potential criminal overtones. Giant oil and gas exploration and production company Apache Corp. of Houston alleges it was the victim of a “massive fraud” committed by principals of two San Antonio oil field services firms ...

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UTSA: Cline Shale could have $20 billion impact

Jennifer Hiller | The San Antonio Express-News SAN ANTONIO — An updated study estimates the oil and gas industry in a slice of West Texas could have a $20 billion economic impact and support more than 30,000 jobs by 2022. The Permian Basin in West Texas has a multitude of overlapping oil fields, but the emerging Cline Shale on the ...

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Wall Street’s latest fad is built on sand

By Anna Driver HOUSTON (Reuters) – Super-sized hydraulic fracturing jobs, which use vast amounts of sand to coax more oil and gas from shale, have led to astronomical returns for investors in companies that mine the tiny particles. The question is whether those super-sized gains can continue. Demand has jumped for the sand used in hydraulic fracturing, which blasts it, ...

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North Dakota now produces 1M barrels of oil a day

WILLISTON, N.D. (AP) — North Dakota is now producing 1 million barrels of oil per day, with a large part of the credit due to the rich Bakken shale formation in the western part of the state. The state’s Department of Mineral Resources on Tuesday released the April production numbers that show the oil fields’ record level. In March, the ...

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