The price downturn has finally pushed exploration companies to resort to bankruptcy. According to The Dune, the following companies have filed for bankruptcy protection: RAAM Global Energy Endeavour International Corp. Quicksilver Resources Inc. Sabine Oil & Gas Corp. Hercules Offshore Inc. Cal Dive International Inc. Dune Energy Inc. BPZ Resources…
Lawyers have filed a new class action against Chesapeake in Pennsylvania. The suit is against Chesapeake Energy and Chesapeake Marketing, filed in the US District Court for the Middle District of Pennsylvania. The plaintiffs also filed a demand for arbitration with the American Arbitration Association against Chesapeake Appalachia, LLC. According…
Oil prices are much in the news, especially in Texas. As oil prices continue to decline, the effect on Texas’ economy is settling in. And with all the talk of oil prices, OPEC is again the focus of much news coverage. What will OPEC do? How much does OPEC really…
Oklahoma oil and gas regulators are scrambling to deal with increasing seismic activity. The Oklahoma Corporation Commission ordered six wastewater disposal wells shut down after the state’s strongest earthquake since 2011, a magnitude-4.7 quake near Cherokee, close to the Kansas border. The quake was felt from Dallas to Kansas City.…
Three amicus briefs have been filed in support of the Hyders, opposing Chesapeake’s motion for rehearing of the Texas Supreme Court’s decision in Chesapeake v. Hyder. An amicus brief was filed by the City of Fort Worth and others who have filed suits against Chesapeake and Total to recover additional…
From Fuelfix: New federal data shows that the Energy Department expects drillers in the Permian Basin to push oil production in the shale play above 2 million barrels per day for the first time ever this November. The U.S. Energy Information Administration’s monthly Drilling Productivity Report released Monday, which covers…
These two graphics from the Energy Information Administration (click to enlarge): The first shows increased re-fracking of existing wells, and reduction in time needed to drill a horizontal well: The second shows how production has held up, despite decreased drilling activity:
From the Energy Information Administration: The General Dynamics shipyard in San Diego delivered the world’s first liquefied natural gas (LNG) powered containership to TOTE Maritime on October 16. The 764-foot long Isla Bella is the first of the Marlin class, a new class of container ship built in the United…
Recent earthquakes near Cushing, Oklahoma have caused a seismic shift in the state’s response to induced quakes in that state. The reason – Cushing is a major hub in the U.S. for storage and shipments of crude. Below is a snapshot of some of the giant storage tanks just outside…
The Texas Supreme Court asked the Hyders to respond to Chesapeake’s motion for rehearing in Chesapeake v. Hyder, after the court’s recent 5-4 decision in favor of the Hyders. Several amicus briefs (“friend of the court” briefs by entities not parties to the case) were filed in support of Chesapeake’s…