Enbridge Pipeline in Canada
Enbridge Pipeline in Canada
CALGARY -- The CEO of Enbridge Inc. said Wednesday he's willing to work with the B.C. government to allay doubts it has about the safety of the proposed $6-billion Northern Gateway pipeline.
The province officially declared opposition to pipeline last week, telling a federal review panel the project shouldn't go ahead because there are too many unanswered questions about how Calgary-based Enbridge (TSX:ENB) would respond to a spill.
The 1,600-kilometer line would transport 550,000 barrels per day of oil sands crude from just outside Edmonton to a port in Kitimat, on the northern B.C. coast.
B.C. might change their mind before the end of the year, but right now it’s a go.
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.
North Dakota once again booming with oil
North Dakota once again booming with oil
Once again North Dakota is booming with oil.. Could it be the next Texas? There are 7.4 billion barrels of recoverable oil in the western part of the state and extending into Montana, according to the latest estimate by the U.S. Geological Survey
“The revised totals could make the North Dakota field the greatest oil and gas find ever in the continental United States, topping the fabled East Texas field that made Texas synonymous with oil wealth. And it would put North Dakota second to Prudhoe Bay as the largest oil producer in U.S. history.”
TransCanada Keystone XL
TransCanada Keystone XL
After numerous requests from the Obama administration, TransCanada once again pushes its service date back to late 2014 or even 2015. As you can recall the Keystone XL “will be pumping around 700,000 barrels a day of crude oil from Alberta to Nebraska, where it would link to other pipelines bound for U.S. Gulf Coast refineries.”
“TransCanada said its $5.3 billion cost estimate for the project will rise, depending on the approval timing. At the end of the first quarter, it had spent $1.8 billion on the project.”
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
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
Is the Keystone XL Pipeline Worth Getting Arrested For?
Is the Keystone XL Pipeline Worth Getting Arrested For?
“Last week, four dozen opponents of the Keystone XL pipeline were trying to convince President Obama to reject federal approval for the line, which aims to carry crude oil from Canada and North Dakota’s Bakken shale crude to the U.S. Gulf Coast. But if opponents of the Keystone pipeline are going to stop the flow of crude, they are going to have to do more than just get arrested or hold a rally—they are going to have block nearly every north-south rail line in North America.”
The Keystone XL is designed to transport 830,000 barrels per day. There is currently nothing new in moving oil by rail cars. Currently, U.S. and Canadian oil producers are building rail car terminals so they can ship their product to the market. Other countries around the world are doing the same as well.
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
Refineries are booming every year
Refineries are booming every year
“Refiners are set to beat all except three of 154 industry groups on the Standard & Poor's index for 2012, as a U.S. production glut let them buy oil at a record average of $17.46 a barrel below the global benchmark. That spread will diminish in 2013 as more than 20 new pipelines enter service and route oil to new buyers along the Gulf Coast, Deutsche Bank AG forecast.”
“While transportation projects including oil-by-rail and pipelines are booming, providing a natural diversification for refiners, some of the world's most successful investors are betting that the companies have at least another year of gains.”
With that being said, Valero Energy Corp., a San Antonio refiner that may create a crude transportation unit, was named the top energy stock pick of 2013. As well as your other larger companies such as Philips 66. They plan to earn as much from pipelines and making chemicals as refining crude.
http://www.tulsaworld.com/business/article.aspx?subjectid=49&articleid=20130101_49_E3_ULNShh264682
