The Canadian oil company drills for hydrocarbons primarily in Texas and Alberta shale formations. In Colorado, it produces a daily haul of 14,800 barrels of oil and 52 million cubic feet of natural gas on the 51,000 net acres it plans to sell.
Chevron will spend more than $1.6 billion to develop shale resources in Argentina with state-owned oil company YPF S.A., as the South American country leaps past China to become the most active foreign shale-well driller this year.
Chevron Corp. CEO John Watson said the energy industry needs to do more to increase the diversity of its workforce and urged improved efforts to promote science and math education among minority students.
In the safety audits, several offshore oil and gas operators were too reluctant to give information, likely because they believed that “too much honesty might spark increased scrutiny from the regulators,” a top regulator said in Houston Thursday.
The Norwegian government, seeking to sustain oil revenues that have fueled the country’s prosperity, has floated plans to let drillers push closer than ever to the ice cap — only to run into the strongest opposition yet.
Despite mandatory offshore safety codes, the U.S. Coast Guard continues to find dozens of problems on deep-water drilling rigs and other vessels, even after oil companies have complied with rules for years and have anticipated inspections for months, a federal regulator said Thursday in Houston.
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