Shale ///

Caterpillar, GTUIT to collaborate on gas treatment innovations

Caterpillar Oil & Gas has made an equity investment in GTUIT, a manufacturer of mobile gas treatment systems.

CONSOL, Halliburton deliver first frac spread powered by EPA-compliant engines

CONSOL Energy and Halliburton have announced the deployment of the first frac spread that is fully compliant with EPA’s 2015 Tier 4F emissions standard for non-road, high-horsepower engines.

Reckoning arrives for cash-strapped oil firms amid bank squeeze

Lenders are preparing to cut the credit lines to a group of junk-rated shale oil companies by as much as 30% in the coming days, dealing another blow as they struggle with a slump in crude prices, according to people familiar with the matter.

George Kirkland to retire from Chevron

SAN RAMON, California -- Chevron Corp. has confirmed that George L. Kirkland, vice chairman and executive V.P., Upstream, will retire from the company, effective June 15.

EIG invests $1 billion in Breitburn for strategic acquisitions

Breitburn Energy Partners and EIG Global Energy Partners have announced definitive agreements, whereby Breitburn will sell $350 million of perpetual convertible preferred units and $650 million of senior secured notes. The funds will be used for future growth and strategic acquisitions.

Petrobras said to start asset sale with fields in Argentina

BUENOS AIRES (Bloomberg) -- Petroleo Brasileiro SA, the state-controlled company at the center of Brazil’s biggest corruption scandal, agreed to sell oil and natural gas fields in southern Argentina to billionaire Eduardo Eurnekian’s Corporacion America, two people with knowledge of the deal said.

Chevron pulls out of Australian gas project with Beach Energy

Chevron Corp. withdrew from a natural gas exploration venture in central Australia, as the second-biggest U.S. energy producer curtails spending.

Lower 48 oil economics still robust, Wood Mackenzie says

Wood Mackenzie's breakeven analysis of more than 800 individual assets in the Lower 48 reveals dramatic variations in the viability of company asset bases and sub-plays.

ICoTA 2015: Weatherford announces TruFrac composite frac plug

Weatherford has announced the commercial release of its TruFrac composite frac plug at the 2015 Intervention and Coiled Tubing Association Conference and Exhibition.

No deal for shale driller Whiting as company sells shares

Whiting Petroleum Corp. has given up finding a buyer, saying instead it will sell as much as 40.3 million shares and raise $1.9 billion in debt to clean up its balance sheet.

Texas landmen left out of work as oil patch boom turns bust

Thousands of Texans who prowled county courthouses, poring over dusty deeds and maps to cash in on the biggest oil boom in decades, are seeing their work go bust.

Smallest U.S. oil rig drop in three weeks shows retreat losing steam

The biggest retreat from U.S. oil fields on record is showing signs of subsiding.

IPAA files lawsuit against Obama admin fracing rule

The Independent Petroleum Association of America (IPAA) and Western Energy Alliance have filed a lawsuit against the U.S. Secretary of the Interior and the U.S. Bureau of Land Management (BLM), challenging BLM’s issuance of regulations related to hydraulic fracturing on federal and Indian lands.

Interior releases final rule for fracing on public, tribal lands

U.S. Secretary of the Interior Sally Jewell has released final standards for hydraulic fracturing on public and American Indian lands.

API slams BLM’s new rules on hydraulic fracturing

WASHINGTON, D.C -- New regulations on hydraulic fracturing on federal lands, issued by the Department of Interior’s Bureau of Land Management, will stifle energy growth and lead to costly delays, the American Petroleum Institute (API) said.

Obama administration issues fracing rules for federal lands

WASHINGTON, D.C. (Bloomberg) -- The Obama administration issued the first federal regulations for fracing since the drilling technique fueled a domestic energy boom, requiring extensive disclosures of the chemicals used on public land.

Oil supplies at record in Cushing signal lower U.S. prices

Oil supplies at Cushing, Oklahoma, the delivery point for U.S. futures contracts, surged to a record last week, fueling speculation that prices already at a six-year low will fall further as the nation’s storage tanks fill up.

Quicksilver Resources to restructure via Chapter 11 filing

Quicksilver Resources has announced that the company and its U.S. subsidiaries have each filed a voluntary petition under chapter 11 as the first step in a financial restructuring.

Poland may have more tight gas than proven conventional reserves

WARSAW (Bloomberg) -- Poland’s estimated recoverable reserves of so-called tight gas are probably higher than its proven conventional deposits of the fuel, according to the Polish Geological Institute.

Oil slumps to six-year low as U.S. production seen filling tanks

MELBOURNE (Bloomberg) -- Oil dropped to the lowest intraday price since March 2009 amid speculation that record U.S. crude supply may start to strain the country’s storage capacity.