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Words of Wisdom

"Time is what we want most, but what we use the worst."
~William Penn

Friday, October 28, 2011

Texas Oil and Gas Report - 10.28.2011

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Rick Perrys flat tax would eliminate oil and gas industry tax breaks
Houston Chronicle (blog)
As governor, Rick Perry has been a consistent supporter of the Texas oil and gas industry. But as a presidential candidate, his signature economic policy proposal could change the way the Lone Star State's energy business conducts bidness. ...
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Houston Chronicle (blog)
ExxonMobil makes 41% profit as sales soar
Vanguard
The Texas-based oil and natural gas giant said it had spent $8.6 billion on capital expenses and exploration, resulting in a record level of $26.7 billion for the first nine months of the year. “We continue pursuing new opportunities to meet growing ...
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Oil & Gas Sector: Empyrean Energy up after 40% rise in Sugarloaf reserves
Stock Market Wire
Victoria Oil & Gas (LON:VOG) was another riser after it reduced full-year losses. The company posted an after-tax loss of $4,69m - down from $6.1m last time. It has been a significant year for Victoria Oil & Gas with considerable value added to assets ...
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Permian Basin will be watching new wastewater disposal rules carefully
My West Texas
"Any state agency that needs help in understanding how the oil and gas industry operates," he said, "needs to turn to the Railroad Commission of Texas. It is the premier agency in the nation in understanding how the oil and gas industry operates. ...
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Oil and gas industry concerned about proposed EPA changes
Odessa American
BY GABRIELLA LOPEZ Lizards aren't the only concern the Texas oil and gas industry has right now. A proposed rule by the Environmental Protection Agency is causing alarm. Go to regulations.gov, follow the online instructions for submitting comments. ...
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Oil & Gas Drilling Boom Creates Gold Rush in North Dakota's Bakken Formation ...
MarketWatch (press release)
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, and eight offices outside of North America, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy ...
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Exxon Mobil Profit Tops $10 Billion on Crude Oil Price Surge
BusinessWeek
The Rosneft deal was Exxon's biggest transaction since its $34.9 billion acquisition last year of XTO Energy, a Fort Worth, Texas-based natural-gas producer. Tillerson is using XTO's expertise in cracking open dense, gas-rich shale rock to access ...
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COLUMN-Oil and gas leases place lenders at risk-Chris Kimmerle
Reuters
There have been tens of thousands of oil and gas leases executed during the shale revolution, and the footprint of the industry continues to grow as exploration and production (E&P) companies move their operations from dry gas to liquid ...
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Texas Pacific Land Trust Third Quarter Earnings Release (Unaudited)
istockAnalyst.com (press release)
Forward-looking statements include statements regarding the Trust's future operations and prospects, the markets for real estate in the areas in which the Trust owns real estate, applicable zoning regulations, the markets for oil and gas, ...
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Friday's most followed: Caza Oil & Gas, Angle, Sirius Minerals, Sound Oil ...
Proactive Investors UK
... another closely followed oil and gas stock Range Resources (LON:RRL) emerged among the most read RNS statements of the day. Range and its partners have logged a significant show in the Manley section of its Smith No.2 development well in Texas, ...
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Proactive Investors UK
Safety board recommends fences, locks for oil tanks
Hattiesburg American
The findings concluded a nearly 18-month investigation of three oil and gas storage site explosions in Texas, Oklahoma and Mississippi, including the October2009 one that killed Wade White,18, and Devon Byrd, 16, in Carnes. The CSB is an independent ...
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Golden Gate Petroleum: A$3m funding agreement to progress Texas based drilling
Proactive Investors Australia
Independent oil and gas exploration and production company Golden Gate Petroleum (ASX: GGP) is looking to advance the drilling program in the Permian Basin, Texas, US, and have entered a funding agreement. Golden Gate have entered into an agreement ...
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Proactive Investors Australia
Clayton Williams Energy Inc (CWEI) Shares Downgraded to a "Accumulate" Rating ...
LocalizedUSA
Clayton Williams Energy, Inc. (CWEI) is an independent oil and gas company engaged in the exploration for and production of oil and natural gas primarily in Texas, Louisiana and New Mexico. On December 31, 2009, the estimated proved reserves of the ...
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Imperial Oil results rise on strong oilsands output
Calgary Herald
Imperial Oil more than doubled its third quarter profits to $859 million on strong refinery margins and increased oilsands production, the integrated oil and gas producer said. Record quarterly production out of the company's Cold Lake bitumen ...
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Gasoline prices off in Texas again
Fort Worth Star Telegram (blog)
Gasoline prices fell this week in Texas, with the average price of a gallon of regular down five cents to $3.29, AAA Texas reports today in its Weekend Gas Watch. The national average is $3.44, 3 cents less than last week. The Fort Worth average is ...
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The Daily Sentinel, Grand Junction on regulating oil drilling wastewater:
Canon City Daily Record
T he US Environmental Protection Agency is considering new regulations on the disposal of wastewater from oil and gas drilling to deal with a problem that may exist only in a one state -- Pennsylvania. Great. It's that kind of thinking that causes many ...
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'Drill, Baby, Drill' Remains Republican Solution Even After Oil Spill
Huffington Post
After the nation's largest offshore oil spill and a series of pipeline breaks, Republican presidential candidates are pushing an aggressive policy of oil and gas drilling that echoes the party's rallying cry from four years ago. ...
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A Union-Industry Model for Solving Energy Problems
Hawaii Reporter
That's pretty much what's happened with President Obama's desire to create jobs and his simultaneous disdain for expanding the development of traditional energy sources such as oil and gas. On the one hand, the president wants to create high-paying, ...
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Frac sand company CARBO Ceramics starts project in Marshfield
Wausau Daily Herald
Laura Schmitt/Marshfield News-Herald » Type of business: CARBO Ceramics is a Texas-based manufacturer and supplier of primarily ceramic “proppant” used in the hydraulic fracturing of natural gas and oil wells in the US and worldwide. ...
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SandRidge Permian Trust Announces Distribution of $0.72 Per Unit
MarketWatch (press release)
The Trust was formed by SandRidge Energy, Inc. ("SandRidge") in May 2011 to own royalty interests in oil and natural gas properties leased by SandRidge in the Central Basin Platform of the Permian Basin in Andrews County, Texas and is entitled to ...
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ConocoPhillips Campaign Touts Job-Creation Value of Natural-Gas Boom
brandchannel.com
Big Oil has joined other brand marketers, ranging from Amazon to AT&T, in harnessing the marketing appeal of jobs amid stubborn 9-percent-plus American unemployment. Specifically, ConocoPhillips, with the third-largest oil and gas reserves of any US ...
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Asia steps up exploration
The Asset
Despite the grim outlook for global growth and fluctuating crude oil prices, the Asian oil and gas industry faces bright prospects, thanks to the robust demand for energy across the region, a rising gap between demand and supply, and relatively high ...
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US rig count gains 8 rigs to 2021 working
Oil & Gas Journal
By OGJ editors US crude oil and natural gas drilling rig activity this week gained 8 units to reach a total of 2021 rigs working. This week's count is up by 349 units from the comparable period a year ago, Baker Hughes Inc. reported. ...
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Linn Energy To Bolt On Texas Wolfberry Package
Oil and Gas Investor (registration)
Net production is approximately 800 barrels of oil equivalent per day. Proved reserves are approximately 8.3 million barrels equivalent (78% oil and gas liquids). Year-to-date, Linn has closed or signed purchase agreements for a total contract price of ...
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ALL'S NOT WELL: Fracking proponents face withering attack from subdivision ...
The Aurora Sentinel
The town hall meeting comes at the heels of plans by Texas-based Anadarko Petroleum to tap the Niobrara formation — a fertile oil and natural gas field under much of the eastern plains. Anadarko applied in August to drill up to 36 wells in a ...
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MARKET WATCH: European Union agreement boosts oil prices
Oil & Gas Journal
The November natural gas contract, however, fell 6.6¢ to $3.52/MMbtu on NYMEX. On the US spot market, gas at Henry Hub, La., was down 5.9¢ to $3.60/MMbtu. In London, the December IPE contract for North Sea Brent gained $3.17 to $112.08/bbl. Gas oil for ...
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Earth & Energy: Colorado to draft disclosure rules for fracking chemicals
Bizjournals.com (blog)
The rule was part of the 2008 overhaul of Colorado's oil and gas regulations. Wyoming and Texas recently have enacted regulations requiring some level of public disclosure of the chemicals used in the process. And the industry also is voluntarily ...
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Southwestern Energy Announces Third Quarter 2011 Financial and Operating ...
MarketWatch (press release)
The decline in the average amortization rate was primarily the result of lower finding and development costs, combined with the sale of certain East Texas oil and natural gas leases and wells in the second quarter of 2011, as the proceeds from the sale ...
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Alta Mesa Holdings Announces Third Quarter 2011 Earnings Conference Call
MarketWatch (press release)
The SEC has generally permitted oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under ...
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Shale Gas Boom Will Be a Jobs Gusher for Texas Hispanics
MarketWatch (press release)
AUSTIN, Texas, Oct 27, 2011 (BUSINESS WIRE) -- This week, the Dallas Task Force will appropriately address all the necessary questions about the regulatory requirements and environmental impact of natural gas drilling in the city. ...
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TEL Offshore Trust Announces Partial Sale of Royalty Interest
MarketWatch (press release)
EnergyNet.com, Inc. is a FINRA-registered broker dealer that provides marketing services to the oil and gas industry. Under its engagement agreement, EnergyNet.com, Inc. is entitled to a 4% commission on the $1600000 sale price. ...
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Empyrean Energy shares rise on 40 pct uplift in Eagle Ford shale reserves
Proactive Investors UK
Shares in Empyrean Energy (LON:EME) shot up 20 per cent this morning as it revealed a 40 per cent uplift in reserves at the Sugerloaf project on the Eagle Ford shale in Texas. Through its 3 per cent interest in the project AIM quoted oil investment ...
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Proactive Investors UK
Eagle Ford Shale pumps out more jobs than anticipated
Houston Business Journal
As the Eagle Ford Shale continues to boom, economic experts and industry observers are boosting predictions about job growth in the South Texas shale play. Houston oilfield services giant Halliburton Co. (NYSE: HAL) said recently it would develop a ...
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Kirby Corporation CEO Discusses Q3 2011 Results - Earnings Call Transcript
Seeking Alpha
In addition, we are benefiting from some new incremental demand driven by the movements of crude oil produced from South Texas, Eagle Ford shale formations from the Corpus Christi area, the Houston, and the South Louisiana refineries. ...
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Fitch Assigns Initial Rating of 'BBB' to Talisman Energy Inc.; Outlook Stable
MarketWatch (press release)
Throughout this period TLM has been pruning its oil and gas portfolio, exiting perceived lower margin properties in western Canada and reinvesting sales proceeds in the likes of the Eagle Ford shale play in Texas with Norway's Statoil ASA and the ...
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NuStar will evaluate possible acquisitions-CEO
Reuters
However, he said NuStar has several new potential projects in the Eagle Ford and other shale plays on tap, and it expects to announce "a couple of these projects prior to the end of the year." Anastasio did not elaborate. Texas-based NuStar operates ...
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New technologies redraw the world's energy picture
eTaiwan News
The first well was drilled in the Eagle Ford shale field in south Texas three years ago; the field now produces more than 100000 barrels a day, with 420000 expected by 2015. There are 20 other shale and similar tight rock fields across the United ...
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Houston Business Journal: Keystone XL pipeline would put job-hungry Americans ...
Texas GOP Vote
Take, for instance, the Eagle Ford Shale development in South Texas. A small town job fair recently held in Beeville attracted more than 2000 employment-hungry Americans to fill more than 1000 jobs being offered by the oil and gas industry. ...
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Texas GOP Vote
More streetcar money tracked
San Antonio Express
He cited the arrival of businesses tied to the Eagle Ford Shale play and residential units under construction downtown. But there's one more development Wolff would like to see. “We are in the very early stages of investigating the possibility of a ...
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Discovery Could Multiply Mexican Natgas Reserves Sixfold
NGI's Shale Daily (subscription)
Pemex drilled its first shale gas test well into Mexico's portion of the Eagle Ford shale play in the northern state of Coahuila (see Shale Daily, March 25). The well, Emergente 1, began producing in February and was reportedly producing at a rate of ...
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Clayton Williams' oil production ticks up during quarter
Gas Business Briefing
The company's oil production in the Austin Chalk and Eagle Ford Shale jumped 13.6% year-over-year, to an average of 3458 Bbls/d. In the Permian Basin, particularly in Andrews County, Texas, Clayton Williams recorded a 23% increase in production in the ...
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Range: $1.47B in Capital Spending Will Make 2012 Its 'Breakout' Year
NGI's Shale Daily (subscription)
CEO John Pinkerton said he believes 2012 will be "a breakout year" for the company as it ramps up production in the Marcellus Shale and develops assets in other plays to replace those in the Barnett Shale that were sold in April. ...
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Fountain Quail Unveils ROVER System For Shale Gas Operations
Water Online (press release)
Painstakingly tested, refined and proven in conjunction with a major producer in the Barnett Shale formation, the system removes suspended solids and soluble organics from shale gas wastewater and returns clean brine that can be blended for re-use as ...
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United States Lime & Minerals Reports Third Quarter 2011 Results
PR Newswire (press release)
... its wholly owned subsidiary, US Lime Company O & G, LLC, has royalty and non-operating working interests pursuant to an oil and gas lease and a drillsite agreement on its Johnson County, Texas property, located in the Barnett Shale Formation. ...
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The Bakken Update: Should Risk Be Bought In This Market?
Seeking Alpha
The third and last variable is the higher production from the Austin Chalk. These results may prove this play is better than previously thought. ...

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