More oil and gas jobs produce training
More oil and gas jobs produce training
“The future appears bright for Ohioans, Pennsylvanians and West Virginians seeking a well-paying career in the oil and gas industry while staying in the region.One challenge for local job-seekers, however, has been determining what jobs are available and how to get them. hanks in large part to widespread development of the Marcellus and – more recently – Utica shale gas plays in the past decade, the economic outlook for portions of Pennsylvania, Ohio and West Virginia has increasingly been driven by new investment in the region."
The oil boom in Ohio, West Virginia and Pennsylvania produce training classes across the states, these classes are everywhere teaching people about oil and gas.
Alaska will cut taxes for the oil companies
Alaska will cut taxes for the oil companies
Alaska has decided to reduce taxes for the oil production companies. Some of the companies that will benefit from the tax cut are ConocoPhillips, Exxon Mobil and BP.
“The legislation imposes a base tax rate of 35% on oil companies’ net profits in the state and makes some tax credits available. The new tax regime will replace a complex formula that started at 25% of net profits and escalated as oil prices rose.”
These new changes will create new investment opportunities as well as additional production from all the oil companies, as well as increase tourism.
http://www.rigzone.com/news/oil_gas/a/125814/Alaska_Lawmakers_Cut_Oil_Taxes
ConocoPhillips deepwater discovery in the Gulf of Mexico
ConocoPhillips deepwater discovery in the Gulf of Mexico
On March 19th, ConocoPhillips had announced that they have discovered oil at the Shenandoah well. Yesterday, they had discovered another well in the Gulf of Mexico. ( The Coronado well).
"The Coronado discovery adds to our exploration success in the prolific Lower Tertiary Trend," said Larry Archibald, senior vice president, Exploration. "The exciting results from the Coronado and Shenandoah discoveries confirm the value of our portfolio in the Gulf of Mexico and provide visibility on our future plans to grow through organic exploration."
ConocoPhillips is one of the largest leaseholders in the deepwater Gulf of Mexico with approximately two million net acres. In 2013, the company plans to drill between five and eight wells, including the Ardennes prospect, which spud earlier this quarter, and the Thorn well, scheduled to spud in the second quarter of 2013.
http://www.heraldonline.com/2013/03/25/4721357/conocophillips-announces-second.html#storylink=cpy
Denbury Resources buys ConocoPhillips fields for $1.05 Billion dollars
Denbury Resources buys ConocoPhillips fields for $1.05 Billion dollars
ConocoPhillips has agreed to sell to Denbury Resources Inc, its properties in the Cedar Creek Anticline of North Dakota and Montana for $1.05 billion dollars.
“The deal includes about 86,000 net acres with 2012 net production of 13,000 barrels of oil equivalent per day through November.” The area in the Bakken region is not included. Denbury has announced that this deal will increase their average daily production by 7,700 barrels of oil per day this year alone."
http://www.marketwatch.com/story/denbury-buying-conocophillips-fields-for-105-bln-2013-01-15
North Dakota booming with oil
North Dakota booming with oil
“As of 2006, the state was only producing about 100,000 barrels of crude oil per day, putting it on par with other mid-tier oil producing states like Kansas, Colorado and Montana. But new hydraulic fracturing techniques and the opening of the massive Bakken formation to drilling changed all that, and as of January 2013 the state was producing an average of 770,000 barrels of crude per day, for a total of 23,834,000 barrels per month.”
It’s no wonder with all the oil in North Dakota that the state is ranked #3 in the US for producing the most oil, Texas of course being #1.
http://news.yahoo.com/blogs/the-exchange/wow-north-dakota-lot-oil-170648051.html
Sanchez Energy buys Eagle Ford Shale assets
Sanchez Energy buys Eagle Ford Shale assets
“Sanchez Energy will run a single rig on the liquids-rich spread while it assesses the full potential. It will focus on Eagle Ford development initially but noted that other operators are pursuing the Buda limestone and Pearsall shale that may provide Sanchez Energy with potential growth opportunities”
Sanchez Energy Corporation in Houston, Texas is buying the Eagle Ford shale in south Texas for $265 million dollars in cash! This deal will not only increase Sanchez energy producing well count but also will increase its acreage in the Eagle Ford shale as well
http://www.ogj.com/articles/2013/03/sanchez-energy-to-buy-hess-corp--eagle-ford-shale-assets.html
Oil production increases Railroad growth
Oil production increases Railroad growth
“US President Barack Obama in his second inaugural speech called for a $50 billion upgrade of the US transportation infrastructure, including rail that political analysts say will be hard to finance.”
“The rapidly growing need for more rail transportation of crude has triggered sizeable investments in both loading and unloading facilities and soaring orders for tank cars “making movement of oil by rail a major growth market for North American railroads,”
The rapid increase of North American crude production has resulted in pipeline bottlenecks in some areas, forcing more reliance on rail transportation to access some of the highest-value markets
http://www.ogj.com/articles/2013/02/working-on-the-railroads.html
Gulf of Mexico Poised to Remain Strong in Coming Years
Gulf of Mexico Poised to Remain Strong in Coming Years
“The Gulf of Mexico (GOM), one of the major petroleum-producing areas of the world, is in the early stages of an extended growth cycle and is poised to remain one of the strongest offshore markets in the world in terms of deepwater activity. Overall, rig count and exploration and production (E&P) activities are at pre-Macondo levels and look tocontinue on an incline for the next couple of years.”
The Gulf of Mexico remains one of the most geologically attractive areas, It is also located in a stable region of the USA
http://www.rigzone.com/news/oil_gas/a/124243/Gulf_of_Mexico_Poised_to_Remain_Strong_in_Coming_Years
Keystone XL protesters raid TransCanada’s Houston Office
Keystone XL protesters raid TransCanada’s Houston Office
“A group of Keystone XL protesters managed to shut down part of TransCanada’s office in Houston on Monday after storming the building and staging a “die-in” while banging drums, blowing horns and piloting a “pipeline dragon” in circles around them.”
The group complained that the pipeline will be harmful to the people who live nearby as well as the animals in the environment.
“Although TransCanada does not yet have authorization to build the northern leg of the pipeline between Canada and the U.S., the southern leg from Oklahoma to Houston has already been the source of much protest in East Texas.”
http://www.rawstory.com/rs/2013/01/08/keystone-xl-protesters-raid-transcanadas-houston-office/
2 Pipelines companies are ready for the New Year to begin
2 Pipelines companies are ready for the New Year to begin
Enbridge and Enterprise have just announced that the expansion work on the Seaway is complete, bringing its Cushing takeaway capacity up from 150,000 to 400,000 per day. This pipeline carries crude oil from Cushing, Oklahoma to the Gulf coast. These two companies are among the biggest players in the midstream company.
“Like Enbridge, Enterprise operates pipelines -- more than 50,000 miles of them -- but it has plenty of other assets that generate cash. Its business mix includes natural gas pipelines and processing centers, natural gas liquid (NGL) pipelines and fractionating facilities, storage facilities, and terminals”
“Production in North America is still growing and pegged to continue doing so for at least the next few years, which means volumes across the systems of companies such as Enbridge and Enterprise will continue to grow as well. Expect these stocks to grow this year.”
http://http://www.fool.com/investing/general/2013/01/12/2-pipeline-stocks-poised-for-profits-in.aspx
