Category: Crude oil

Bank loan standards bending for oil companies amid shale rush

As major shale plays fuel the nation’s energy production, some aspects of Texas banking are starting to echo the overzealous oil and gas lending of the past, says David Zalman, chairman and CEO of Houston-based Prosperity Bancshares.  More »

Oil down slightly ahead of U.S. supply report

U.S. crude for June delivery fell 17 cents to close at $102.44 a barrel.  More »

In the oil & gas industry, there should be no such thing as an “accident”

The “safety first” message extends – at least in theory – out to the field, where every new engineer and roughneck is constantly told “there’s no such thing as a small incident”, or “if you can’t do it safely, it’s not worth doing”.  More »

Chesapeake chasing ‘all-but-forgotten’ shale assets

Just a month after BP decided to take a $521 million hit to abandon its plans for the Utica Shale, Chesapeake Energy last week called the region its “newest world-class asset.”  More »

Calif. county considers fracturing ban

For the past several months, Santa Barbara County Water Guardians have worked to collect enough signatures to propose a ban on hydraulic fracturing.  More »

Oil tax incentive change part of Oklahoma budget debate

The Legislature this year also has yet to reach an agreement on a generous tax incentive currently in place for horizontally drilled wells that reduces the tax from its regular rate of 7 percent to 1 percent.  More »

Vancouver council weighs resolution against oil terminal

Tesoro Corp. and Savage Companies are proposing a terminal at the Port of Vancouver that could handle as much as 380,000 barrels of crude per day.  More »

Oil rises on U.S. housing data, Ukraine tensions

Oil gained 2 percent for the week.  More »

Energy rigs in U.S. climb to tie highest count since 2012

Rigs targeting oil and natural gas in the U.S. increased this week, tying a 20-month high, as energy producers used a record number of horizontally drilling ones to reach deposits in shale formations in the middle of the country.  More »

Railroad wants to send oil into town where 47 died

John Giles, president and CEO of Central Maine and Quebec Railway, said he hopes to have an agreement with officials in Lac Megantic, Quebec, within 10 days that would allow the railroad to ship non-hazardous goods, restoring the vital link between the railroad’s operations to the east and west of the community.  More »

Commentary: Alaska voters hold the key to North Slope

Commentary: As political shenanigans continue to delay approval of the Keystone XL pipeline, Alaskan voters hold the key to avoiding a similar fate for what could be North America’s largest pipeline project.  More »

Saudi gas reserves up as Aramco taps new shale deposits

Saudi Arabia’s natural gas reserves rose last year as it explored for the fuel in the Red Sea and tapped shale gas to free more crude oil for export, according to the kingdom’s state-run oil company.  More »