Tag: Oil and Gas
Canada needs ‘energy brand’ oilfield services association tells Ottawa
“Supplying the world with Canadian energy would help reduce global GHG emissions. The world needs more Canada.” The Petroleum Services Association of Canada has sent a message to Canadian parliamentarians: Canada needs a brand for energy that communicates the country’s strong oil and gas regulations and its commitment to lowering greenhouse gas emissions. PSAC highlighted […]
Innovation in energy, new kind of moonshot – Todd Staples
Texas’ oil, natural gas producers use innovation drawn from techniques, systems that astronauts, NASA scientists employ By Todd Staples, Texas Oil & Gas Association Back in 1969, the phrase “Houston, the Eagle has landed” affirmed Texas’ place in history and underscored Texans’ contributions to innovative technology and scientific research. Texas has diversified tremendously in the nearly five decades since […]
Sensors, automation driving down costs in US oil patch
Despite the major spending cuts across the sector, the low price environment has created an impetus to invest in sensor innovations throughout the value chain BOSTON, MA – The oil and gas industry is by far one of the oldest industries to use sensors, where sensors have been used upstream to find oil reserves, monitoring […]
Federal Reserve of Dallas: Oil and gas slump moderates, outlook improves
Expected E&P capital spending in 2017 jumped 40 points to 25.4, suggesting producers are boosting CAPEX Business activity improved in the second quarter, according to oil and gas executives responding to a recent Dallas Fed Energy Survey. The business activity index—the survey’s broadest measure of sentiment among Eleventh District energy firms—turned positive at 13.8, up sharply […]
Devon Energy to sell $1 billion of upstream assets in East Texas, Midland Basin
At Dec. 31, 2015, proved reserves for the assets amounted to 31 million Boe OKLAHOMA CITY – Devon Energy Corp. says it has entered into agreements with undisclosed parties to sell nearly $1 billion of non-core upstream assets in east Texas, the Anadarko Basin and an overriding royalty interest in the northern Midland Basin. The largest transaction is […]
Forget lost returns: Transaction fees could cost divested institutions billions
New study quantifies for first time significant transactional and compliance costs divested schools will be forced to bear WASHINGTON, D.C. – A new study commissioned by an American producers organizations shows that the divestment of oil and gas assets carries hidden costs may exceed losses that divested institutions would expect to suffer from weaker portfolio performance. Previous studies have […]
EPA takes aim at methane emissions in oil and gas sector
Industry groups say they have already reduced methane emissions By Valerie Volcovici WASHINGTON, May 12 (Reuters) – The Environmental Protection Agency on Thursday published the first U.S. regulations to reduce methane emissions from new or modified oil and gas facilities, one of the key remaining pieces of the Obama administration’s climate change strategy. The final standards […]
Digitalization, sensors dominate new oil/gas technology next 10 years – study
“The low price of oil and gas today changes the landscape of both offshore and unconventional plays” HOUSTON, TX – A new study from Houston-based consultancy DNV GL says new digital technologies will have a major impact on American onshore and offshore oil and gas production, potentially lowering costs for hard hit E&P companies. Every five […]
Energy XXI files Chapter 11 after spending $5 billion on acquisitions during oil boom
Company says it expects to pay suppliers in full under normal terms for goods and services provided on or after the Chapter 11 filing date HOUSTON- Energy XXI Ltd announced Thursday that it and certain of its subsidiaries have entered into a restructuring support Agreement (the “RSA”) with holders of more than 63 per cent of the company’s […]
Big boost coming for global oil/gas fishing tools market – study
Expected near-term increase in drilling is major driver of global oil/gas fishing tools market The global oil and gas fishing tools market for 2015-2019 is expected reach $3.8 billionUSD, growing at a compound annual growth rate (CAGR) of over 4 per cent, according to a new study from Technavio. Fishing tools are employed for fishing the stray equipment (also […]
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