Shale ///

Texas cities wouldn’t be able to ban oil drilling under bill

Texas cities would no longer be able to ban oil and gas companies from drilling inside municipal limits under a bill lawmakers sent to Governor Greg Abbott.

EOG will resume major oil growth at ‘stable’ $65 oil price

EOG Resources, the biggest shale-oil producer, will resume major growth in output once crude prices are stable at $65/bbl.

WPX Energy in $200 million-plus Marcellus deal

WPX Energy has signed an agreement to sell a package of Marcellus shale marketing contracts and release certain related firm transportation capacity to an undisclosed buyer for in excess of $200 million cash.

Natural gas jumps to 5-week high on below-forecast supply gain

Natural gas futures jumped to a five-week high in New York after an EIA report showed that U.S. stockpiles expanded by less than forecast last week.

ConocoPhillips reports loss as oil crash trumps spending cuts

ConocoPhillips, the third-largest U.S. energy producer, reported a loss as the pace of spending cuts failed to keep up with falling prices after the worst oil crash since 2009.

Statoil adjusted profit beats estimates amid trading gains

Statoil ASA adjusted profit beat estimates in the first quarter on trading and refining as it wrote down the value of mainly U.S. shale assets by $6.1 billion amid plunging crude prices.

Policy outlook for UK North Sea and shale sectors poles apart, says GlobalData Analyst

Will Scargill, GlobalData’s Senior Analyst covering Upstream Fiscal & Regulatory Regimes, says: “With the UK’s General Election just over a week away, the policy outlooks for the country’s offshore and onshore oil and gas industries are poles apart. Over the past two years, significant incentives have been offered to both onshore and offshore operations. Regulatory barriers have been removed and a new allowance was introduced in 2014 to stimulate onshore unconventional development, while the government has recently introduced changes to mitigate the impact of lower oil prices on North Sea operations. However, while further incentives for the North Sea are likely whatever the outcome of the election, policies towards the unconventional sector will depend on the makeup of the next government.

LoneStar Energy Fabrication completes $5.1-billion Big Foot project

LoneStar Energy Fabrication (LSEF) recently completed work on the $5.1-billion Big Foot drilling platform that is now ready to begin drilling in the Gulf of Mexico.

EY: Oil’s new swing producer balances storage capacity amid low prices

As U.S. producers slashed spending, idled rigs, withheld completions, and neared the ceiling on domestic storage capacity, OPEC generally maintained its high production in the first quarter.

Texas proceeds against two shale disposal wells linked to seismic activity

The Texas Railroad Commission has initiated proceedings requiring the operators of two disposal wells in the area of Azle, Texas, to show cause why the injection permits for the wells should not be cancelled due to an alleged connection raised by new seismic research.

Oil at $65 could free 500,000 bopd from shale ’fracklog’

Oil needs to recover to $65/bbl for U.S. drillers to tap a pent-up supply locked in shale wells and unleash more crude on markets than is produced by Libya.

Turning Bakken oil well waste water into clean geothermal power

CALGARY (Bloomberg) -- Oil fracing companies seeking to improve their image and pull in a little extra cash are turning their waste water into clean geothermal power.

USGS issues report on wastewater injection-induced earthquakes

The U. S. Geological Survey (USGS) has released a report that outlines a preliminary set of models to forecast how hazardous ground shaking could be in the areas where sharp increases in seismicity have been recorded.

U.S. shale fracklog triples as operators keep oil from market

Think the U.S. is awash in crude now? Thank the fracklog that it’s not worse.

Not ‘critical’ for U.S. to lift oil export ban now, EIA chief says

The U.S. can wait to lift the ban on crude exports because slowing production will give refiners time to handle the type of oil produced in shale plays, Energy Information Administration chief Adam Sieminski said.

ShaleTech Canada '15: Canadian exports take center stage at inaugural conference

ShaleTech Canada opened in the Tellus Conference Centre in Calgary with speakers emphasizing export of Canadian resources and know-how, with Canada playing an important role in the North America energy Renaissance.

Statoil awards Ferus CO2 service contract for Bakken test well

Statoil has awarded a major carbon dioxide (CO2) supply and service contract to Denver-based Ferus LP, a provider of energized fluids (liquid CO2 and liquid nitrogen) to the North American oil and gas industry.

Shale as world’s swing producer signals ‘jagged’ oil future

With OPEC ceding control for the first time since the 1980s, U.S. shale oil has been anointed the world’s new 'swing producer' by everyone from ConocoPhillips and Goldman Sachs Group to former Fed Chairman Alan Greenspan.

U.S. Department of Interior seeks greater revenue from onshore leases

WASHINGTON, D.C. -- Secretary of the Interior Sally Jewell has announced that the Bureau of Land Management will open a public dialogue on potential changes to federal onshore oil and gas regulations. The changes concern increasing oil and gas royalty rates, rental payments, lease sale minimum bids, civil penalty caps and financial assurances.

Iran oil could hurt U.S. production if domestic sanctions remain

U.S. Sen. Lisa Murkowski, R-Alaska, drew attention to the potential impact that ending sanctions against Iran could have on U.S. production if the outdated prohibition on exporting domestic crude oil is not also lifted.