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Natural Gas Gets Good News #OilmanNEWS 2017-May-June Alex Mills 

Natural Gas Gets Good News

Two important events that occurred last week have the potential to impact natural gas supplies significantly in the future. First, the U.S. Geological Survey (USGS) increased by more than 300 percent its assessment of natural gas reserves in East Texas, Louisiana, and the Gulf Coast. Second, the Environmental Protection Agency (EPA) said it will reconsider a new regulation covering methane... Read More
Oil and Gas Economy in Texas Enters Expansion Cycle #OilmanNEWS 2017-May-June Alex Mills Texas 

Oil and Gas Economy in Texas Enters Expansion Cycle

WICHITA FALLS—Crude oil and natural gas drilling and development in Texas has embarked upon a new cycle of expansion, according to the latest Texas Petro Index (TPI), which improved to 160.4 in March to post its fourth straight monthly increase. “Economically speaking, the TPI data indicate that when oil and gas industry gathers in Wichita Falls in late April for... Read More
Strong Indicators Give Boost to Oil Price #OilmanNEWS 2017-May-June Upstream 

Strong Indicators Give Boost to Oil Price

The price of oil received a boost after an April 11 announcement by the two largest oil-producing nations revealed that they were considering continuing production cuts. Their announcement, coupled with a decrease in the overall level of crude stocks in the U.S., helped feed into the price gains. Reports were circulating on Tuesday that Saudi Arabia had informed OPEC officials... Read More
ConocoPhillips Sells Canadian Assets to Cenovus Energy Inc. for $13.3 Billion #OilmanNEWS 2017-May-June Upstream 

ConocoPhillips Sells Canadian Assets to Cenovus Energy Inc. for $13.3 Billion

On March 29, Houston, Texas-based ConocoPhillips announced the sale of some of its Canadian assets to Cenovus Energy, an oil-production firm based in Calgary. The $13.3 billion sale price (C$17.7 billion) includes a 50 percent nonoperating stake in the Foster Creek Christina Lake oil sands partnership and gas assets in the western Canada Deep Basin. Cenovus paid for the assets... Read More
Joint Venture to be Formed by Schlumberger and Weatherford #OilmanNEWS 2017-May-June Innovation & Technology 

Joint Venture to be Formed by Schlumberger and Weatherford

On March 24, Schlumberger and Weatherford announced an agreement to create a joint venture known as OneStim. According to a joint release by the companies, the venture will offer one of the widest ranges of multistage products and services in addition to a massive hydraulic fracturing fleet. “The joint-venture creates a new industry leader in terms of hydraulic horsepower and... Read More
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