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Attendees gather on the floor of the George R. Brown Convention Center on Aug. 19, 2015, for the summer North American Prospect Expo, or NAPE. (Stephen Elliot of MudProductions.com, via NAPE)

At NAPE, some see natural gas drillers as next buyers of battered oil fields

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At the George R. Brown Convention Center on Wednesday, wildcatters gathered to negotiate deals for oil and gas properties in Texas and elsewhere during the industry’s largest oil lease swap-meet, the summer NAPE.
Operator Tim Mouton inspects polymer pellets for quality at the LyondellBasell Bayport Polymers Plant, Monday, October 11, 2010 in Pasadena, TX. (Eric Smith/Houston Chronicle)

Extended low oil prices could slow U.S. petrochemical renaissance

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The bountiful ethane that comes from natural gas liquids and U.S. shale production would become more scarce, according to the IHS report. Ethane is used to make ethylene, which which is the main building block for plastics.
(Photo by Eddie Seal for Bloomberg News)

2015 already a record year for writedowns, IHS says

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Beleaguered drillers wrote off $29 billion in the first quarter of the year alone, more than the 2014 full-year total of about $25 billion.
Paal Kibsgaard, chairman and chief executive officer of Schlumberger Limited, pauses during a panel session at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia, on Friday, June 19, 2015. SPIEF is an annual international conference dedicated to economic and business issues which takes place at the Lenexpo exhibition center June 18-20. (Andrey Rudakov/Bloomberg)

Schlumberger CEO: New technology appetite growing amid oil downturn

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The CEO of Schlumberger says American oil producers are purchasing a lot more new technology in this year’s oil downturn than in previous rough patches, with new tools making up almost a quarter of the company’s revenue.
A drilling rig is set up near a barn in Springville, Pennsylvania. (AP Photo/Alex Brandon, File)

Farmers would benefit from crude oil exports, too, oil industry leaders tell House agriculture panel

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Continental Resources CEO Harold Hamm and Texas energy regulator David Porter argued that oil exports could drive more domestic crude production, with benefits rippling nationwide, from urban centers to rural areas.
In this Dec. 17, 2014 photo, workers tend to oil pump jacks behind a natural gas flare near Watford City, N.D. Natural gas, the nation's most prevalent heating fuel, is getting cheaper just as winter is arriving because of mild temperatures and plentiful supplies. (AP Photo/Eric Gay)

U.S. oil output still barreling toward 45-year record

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U.S. oil production edged down in May and will likely continue swooning until early next year as plunging crude prices continue to pummel domestic producers, according to a new federal report.
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Study: Refracturing not all it’s fracked up to be

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A large-scale redo of oil wells won’t make sense until companies see better returns from returning to old wells than from drilling new ones, said Christopher Robart, at IHS.
API President and CEO Jack Gerard at CERAWeek in March 2014 (Photographer: F. Carter Smith/Bloomberg)

Oil export boosters have votes to prevail on Capitol Hill, industry leader boasts

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American Petroleum Institute President Jack Gerard said there are enough votes in the House and Senate to overturn the United States’ longstanding ban on crude exports. But a former Navy commander urged caution.
(Spencer Platt/Getty Images)

Federal Reserve says oil service costs down 30 percent

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Contacts in the U.S. petroleum business told the Fed the cost of drilling and bringing wells into production have dropped 20 to 30 percent since the beginning of the year, according to the Fed’s June Beige Book, a monthly assessment of economic activity in 12 regional districts across the United States.
Trimac Transportation driver Robert Williams used the liquified natural gas lane to fill his truck at the Flying J truck stop on I-10 East in Baytown Thursday Aug. 23, 2012.(Dave Rossman/For the Chronicle)

Natural gas could dent demand for oil as transportation fuel

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HOUSTON — The surge in liquefied natural gas as a transportation fuel for truck fleets and ships could displace oil demand by more than 1.5 million barrels a day by 2030, according to a new study by IHS Energy. While 1.5 million barrels of oil may not seem like a large chunk of the 93.6 […]