Supporters of a successful effort in 2012 to renationalize Argentina's largest oil company, YPF, wave flags. (AP Photo/Natacha Pisarenko)

Argentina, China ripe for more shale development, EIA says

on
Outside of North America, Argentina and China are the only two nations that are producing commercial quantities of natural gas trapped in deep-seated shale formations, and they both have the capacity to grow their output substantially, the U.S. Energy Information Administration said in a report Friday.
(ALEXANDER KLEIN/AFP/Getty Images

Speculators retreat from oil as OPEC oversupply crowds out shale

on
Saudi Arabia, OPEC’s biggest member, is ready to produce more oil if demand rises, Oil Minister Ali-Al Naimi said June 18. It has 1.5 million to 2 million barrels a day of spare capacity, he said.
An artist rendering of Cheniere Energy's proposed LNG export terminal in Corpus Christi.

Kinder Morgan LNG export project applies for FERC approval

on
Kinder Morgan is seeking Federal Energy Regulatory Commission to build the $8 billion LNG export project near Pascagoula, Mississippi. The applicants are seeking FERC approval no later than June 17, 2016.
The shadows of  workers in the Permian Basin on February 5, 2015 in Mentone, Texas. (Photo by Spencer Platt/Getty Images)

The shale industry could be swallowed by its own debt

on
The problem for shale drillers is that they’ve consistently spent money faster than they’ve made it, even when oil was $100 a barrel.
Workers remove the drill pipe on the drilling floor of Development Driller III, which drilled the relief well and pumped the cement to seal the Macondo well, the source of the Deepwater Horizon rig explosion and oil spill, in the Gulf Of Mexico, off the coast of Louisiana, Saturday, Sept. 18, 2010. (AP Photo/Gerald Herbert)

Energen taps capital markets for $405 million to boost drilling

on
Energen’s public offering of 5.7 million shares makes it the 30th North American oil company to raise funds from the public equity markets in 2015, bringing the oil-exploration sector’s take to about $13.7 billion so far this year.
Oil field workers in 2012  drill into the Gypsum Hills near Medicine Lodge, Kan.   U.S. Steel said Tuesday it will lay off about 750 employees from two plants that make tubular steel, which is used in oil and gas drilling(AP Photo/Orlin Wagner, File)

Efficiency gains in the oil patch could be short lived, consultants say

on
Today’s efficiency gains, especially those driven by 20 to 30 percent discounts off the cost of oil field tools and services, could be short lived if drilling rigs ride high again after the end of the downturn, which will come sooner or later.
Over thirty oil drilling rigs are idle in a Helmerich & Payne, Inc. yard along Groening Street in Odessa, Texas, as rig counts drop in the Permian Basin, Monday, May 18, 2015. (Courtney Sacco/Odessa American via AP)

North Dakota drill rig count drops to lowest since 2009

on
The Williston Herald reports the drop occurs as companies are pumping less crude amid oil prices that have plummeting more than 40 percent since last year.
109440253

Colorado energy companies take trespassing claims to court

on
Encana Corp. has sued WPX Energy, saying WPX knowingly drilled a well that passed horizontally through Encana’s mineral estate in the Parachute Creek area without getting Encana’s permission.
In this June 10, 2015 photo, Dr. Anne Sheehan, Professor of Geological Sciences and Fellow of the Cooperative Institute for Research in Environmental Sciences opens a compartment in a weatherproof digital recorder, part of her kit of solar-powered seismometers, used to measure earthquakes, including those caused by injection wells at petroleum extraction sites, at CU Boulder, in Boulder, Colo. (AP Photo/Brennan Linsley)

Earthquakes near Colorado wastewater well decrease

on
DENVER — The ground around a northern Colorado wastewater injection well has been relatively quiet for more than two months, offering hope that a 10-month string of more than 200 small earthquakes might have subsided.
Earthquake2-DaveSchumaker-flickr

Natural gas firm asked to show it’s not causing Texas quakes

on
A natural gas extraction company controlled by energy giant Exxon Mobil sought to prove Wednesday that it is not to blame for a recent rash of small earthquakes in North Texas, telling a powerful state agency that it believes the earthquakes occurred naturally.