Category: Crude oil

Buckeye Partners to buy $860 million in Trafigura Eagle Ford midstream assets

Buckeye Partners L.P. said Tuesday it would enter the fast-growing Eagle Ford region with an $860 million deal to acquire an 80 percent interest Trafigura AG’s South Texas midstream assets.  More »

U.S. crude price at lowest level since January

Natural gas futures posted the biggest drop in six months.  More »

Water resources a problem for energy extraction worldwide, report finds

According to the analysis by the World Resources Institute, 38 percent of the earth’s shale gas and tight oil resources are in areas that are either arid or under high levels of water stress already _ a scenario that does not mesh with the high water demands of today’s extraction techniques.  More »

Researchers at work on using liquid nitrogen instead of water in fracturing

Petroleum engineers in Colorado are working on a process called cryogenic fracturing, which replaces water with searing cold liquid nitrogen or liquid carbon dioxide.  More »

Crude oil rides Texas’ rails with little tracking

For generations of producers drillers in Texas, where a vast pipeline system has grown with the fits and starts of the oil industry’s notorious business cycle, railroads provided little more than a relatively expensive last resort. But in the boom associated with the hydraulic fracturing, producers increasingly enlist trains to handle the glut.  More »

Hilcorp drops bid to force drilling on holdouts

The Houston-based company had sought to use a 1961 Pennsylvania law to drill under the property of a few holdout landowners in New Bedford, near the Ohio border north of Pittsburgh.  More »

Mexico’s Pemex says production to increase in 2015

Mexico’s state-owned oil company Petroleos Mexicanos estimates its crude production will increase to 2.4 million barrels per day in 2015, compared with the 2.35 million barrels per day it expects to produce this year, a company official said.  More »

Illinois state agency issues fracturing rules

he lengthy report follows months of delays and complaints over the process to draft rules governing hydraulic fracturing, or fracking, in Illinois. Industry officials say southern Illinois has rich deposits of natural gas, but a final draft of the rules — initially touted as a national model of both sides working together — has taken months for the agency to produce as industry groups warned the state was losing business.  More »

Commentary: Mexico enters shale play

While the energy world has been focused on Canadian shale over the past few years, Mexico has been quietly emerging as a major player in the crude oil and natural gas industry. With the recent passage of massive energy reforms in Mexico, billions of barrels of oil and trillions of cubic feet of natural gas […]  More »

Feds to resume leasing for fracturing in California

The move will end a halt that has stood since a federal judge ruled in 2013 that the federal agency failed to follow environmental law in allowing fracking on public land in Monterey County.  More »

GDP report helps send crude price up

U.S. gross domestic product grew at a 4.2 percent annualized rate last quarter.  More »

More oil moving on rails, EIA says

The amount of crude oil and refined petroleum products moving on U.S. railroads has increased by 9 percent so far through July compared to the same period last year, according to a review U.S. Energy Information Administration.  More »