Archives February 2015

Feb
17
2015

BP Energy Outlook projects energy demand to jump 37% by 2035

Global demand for energy is expected to rise by 37% from 2013 to 2035, or by an average of 1.4%/year, due in large part to ongoing economic expansion in Asia, particularly in China and India, according to the latest BP Energy Outlook 2035. …read more Source: Oil Gas Journal   

Feb
17
2015

Ohio Supreme Court rules against municipality in oil and gas case

The Ohio Supreme Court ruled that the city of Munroe Falls cannot impose local drilling and zoning ordinances that conflict with Ohio state law regarding oil and natural gas activities. The high court split in a 4-3 decision with three justices providing written dissents. …read more Source: Oil Gas Journal   

Feb
17
2015

Devon reduces capital budget by 20% in 2015

Devon Energy Corp., Oklahoma City, plans an exploration and production capital budget of $4.1-4.4 billion in 2015, representing a 20% decline compared with 2014. …read more Source: Oil Gas Journal   

Feb
17
2015

North Dakota December oil production topped 1.2 million b/d

Preliminary oil and gas production figures for December 2014 show 1.16 million b/d in oil production from the Bakken and Three Forks formations and 63,992 b/d from legacy conventional pools, the North Dakota Department of Mineral Resources reported. …read more Source: Oil Gas Journal   

Feb
16
2015

BLM decision clears way for first NPR-A federal oil production

The US Bureau of Land Management issued a record of decision (ROD) for the proposed Greater Mooses Tooth One project (GMT1), which cleared the way for the first crude oil production from federal land within the 23 million-acre National Petroleum Reserve-Alaska. …read more Source: Oil Gas Journal   

Feb
16
2015

Goliat FPSO departs South Korea for Norway

The world’s largest cylindrical floating production, storage, and offloading facility has departed the Hyundai Heavy Industry (HHI) Ulsan yard in South Korea and is en route to Hammerfest in Finnmark, northern Norway. …read more Source: Oil Gas Journal   

Feb
16
2015

BG's 2015 budget 'significantly lower' than 2014

BG Group plans capital expenditures on a cash basis of $6-7 billion in 2015, a range it says is “significantly lower than 2014” due to “a lower oil price environment.” …read more Source: Oil Gas Journal   

Feb
16
2015

Watching Government: New York moves ahead on LNG

New York, a state more often associated with fiercely resisting unconventional natural gas exploration and production, established a program to regulate LNG facilities on Jan. 27. …read more Source: Oil Gas Journal   

Feb
16
2015

Alberta's premier seeks more North American energy integration

Better policy integration and cooperation will be needed for Canada, Mexico, and the US to fully realize the North American energy renaissance’s potential, Alberta Premier Jim Prentice said. …read more Source: Oil Gas Journal   

Feb
13
2015

BHI: US rig count continues 11-week dive, loses 98 more units

The US drilling rig count plunged 98 units to settle at 1,358 rigs working during the week ended Feb. 13, Baker Hughes Inc. reported. …read more Source: Oil Gas Journal   

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