Archives February 2015

Feb
23
2015

Derailed West Virginia oil train carried Bakken crude

A large-scale cleanup and investigation have launched following the Feb. 16 derailment of a CSX crude oil train near Mount Carbon, W.Va. …read more Source: Oil Gas Journal   

Feb
23
2015

Oil forecasts need a new asterisk for supply instability

Do projections of worldwide oil supply need another asterisk? …read more Source: Oil Gas Journal   

Feb
20
2015

EOG Resources’ budget down 40% to $4.9-5.1 billion

EOG Resources Inc., Houston, plans a capital budget of $4.9-5.1 billion in 2015 including production facilities and midstream expenditures, representing a 40% reduction compared with last year’s budget. …read more Source: Oil Gas Journal   

Feb
20
2015

BHI’s rig count reaches 5-year low; forecast projects more losses

The US drilling rig count fell 48 units—markedly fewer compared with declines in recent weeks—to settle at 1,310 rigs working during the week ended Feb. 20, Baker Hughes Inc. reported. …read more Source: Oil Gas Journal   

Feb
20
2015

Noble Energy’s budget down 40% in 2015

Noble Energy Inc., Houston, plans to spend $2.9 billion in 2015, representing a 40% reduction from 2014. The company also reported full-year 2014 net income of $1.21 billion and adjusted income of $881 million. …read more Source: Oil Gas Journal   

Feb
20
2015

More pragmatism urged for developing Eastern Mediterranean gas

Eastern Mediterranean nations should abandon inflated expectations and adopt more realistic approaches to developing their natural gas resources, speakers recommended at a Feb. 19 Brookings Institution forum. This includes recognizing that their relatively smaller deposits are best suited to sales within the region, they said. …read more Source: Oil Gas Journal   

Feb
19
2015

Marathon revises down budget by 20%

Marathon Oil Corp., Houston, has reduced its capital, investment, and exploration budget for 2015 by another 20% to $3.5 billion. …read more Source: Oil Gas Journal   

Feb
18
2015

Magnum Hunter slashes budget by 75%

Magnum Hunter Resources Corp., Houston, plans a $100 million upstream capital expenditure budget for 2015, down from the $400 the company planned for 2014. …read more Source: Oil Gas Journal   

Feb
18
2015

Comments sought on Pinedale Anticline gas field noise report

The US Bureau of Land Management’s Pinedale Anticline Project Office (PAPO) is seeking public comments on a 2014 acoustic noise report on sound levels at 19 Greater Sage Grouse leks—places where males gather to attract females during mating season—in western Wyoming’s Pinedale Anticline natural gas field. …read more Source: Oil Gas Journal   

Feb
18
2015

Another cut seen in Groningen gas output

Production from giant Groningen natural gas field in the Netherlands might be further curtailed in response to public concern about earthquakes. …read more Source: Oil Gas Journal   

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