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Efforts to Cut Bakken Flaring Stymied by Regulators
North Dakota’s Bakken shale has become a poster child for the shale revolution. With production that has increased from 321,000 barrels of oil per day (bopd) in 2010 to the current level of 1.1 million it is a stellar example of what technology, innovation and free enterprise can accomplish. Unfortunately, this progress has been marred… Read More
Occidental to Spin-Off California Assets
“Rigzone” reports that Occidental Petroleum Corp.’s board has approved a plan to form a separate unit, California Resources Corp., which will hold all Occidental’s oil and gas assets in the state. The new entity would be owned by Occidental shareholders and would be the largest natural gas producer in California. Wall Street analysts speculate that… Read More
Dominion’s Cove Point LNG Export Facility Approved
“Rigzone” reports that the Federal Energy Regulatory Commission (FERC) has approved Dominion Resources Inc.’s Cove Point, Maryland, Liquefied Natural Gas (LNG) export project. The proposed facility will cost between $3.4 and 3.8 billion dollars and will have a capacity of 5.75 million metric tons per year. Dominion has already secured markets for total output via… Read More
Total to Sell Interest in Utica Shale Gas Transport
“Rigzone” reports that French oil major, Total, will sell its 25% stake in Cardinal Gas Services, a pipeline transporting Utica shale gas in Ohio. A consortium of South Korean entities will pay $450 million for the interest, and Cardinal will continue to provide gas gathering and transportation services to Total. The French company will retain… Read More
North Dakota Oil Production Might Decrease due to Flaring Regulations
Flaring of natural gas associated with oil production is an acute problem in the Prairie State. Worldwide, about 3% of produced gas is flared; in the U. S. it is less than 1%. In North Dakota 36% of gas was flared, but that figure has been reduced to 26% due to new state regulations. “Rigzone”… Read More
