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Bill Barrett Selling Gas Production, Buying Oil Assets
According to a recent article in “Rigzone”, Bill Barrett Corp. is disposing of gas producing properties in Wyoming’s Powder River Basin and Colorado’s Piceance Basin to acquire oil producing assets in Colorado. Bill Barrett would not disclose the buyer, but did say the transaction, valued at $757 million, will enable the company to reduce its… Read More
ND Oil Output Increases In Spite of Flaring Regulations
According to a recent article in “Rigzone”, North Dakota regulators report July oil production reached an all-time high of 1.1 million barrels of oil per day. This was up 5% over the previous month, but only about half of the expected increase, due to the state’s aggressive program to reduce flaring of natural gas. Natural… Read More
U. S. Shale Revolution to Reduce Imports/Increase Exports
The International Energy Agency (IEA) sees U. S. shale oil production reducing crude imports from Saudi Arabia and increasing gasoline exports. The IEA noted that Saudi exports of crude have dropped below 7 million barrels of oil per day (bopd) for the first time since September 2011, largely as a result of increased U. S.… Read More
DOE Approves Cameron and Carib LNG Exports
The U. S. Department of Energy (DOE) issued its final approval for the Cameron LNG (Liquefied Natural Gas), LLC and Carib Energy LLC projects to export to countries with whom we do not have Free Trade Agreements (FTA). These projects are located in Cameron Parish, LA, and Martin County, FL, respectively. This authorization is significant… Read More
U. S. Shippers Want Role in Energy Exports
“Rigzone” reports that Don Marcus, the president of the International Organization of Masters, Mates and Pilots, urged congress to insure that American shippers participate in the benefits of LNG and crude exports. John Garamendi (D) and Duncan Hunter (R) introduced a bill in the House in July requiring the Department of Transportation promote the use… Read More
