Posted July 16, 2013
Carpe Diem – North Dakota Sets Another Oil Production Record
Blogger Mark Perry comments on the latest oil production figures from North Dakota: 810,314 barrels per day in May – the 10th month in a row the state has pumped more than 700,000 bpd. Production increased almost 26 percent over May 2012, thanks to booming production from the Bakken shale.
The Associated Press – Moratorium Prompts Natural Gas Drillers to Cancel NE PA Lease
Hess Corp. and Newfield Exploration Co. are pulling out of the northeastern part of the state because of a three-year moratorium imposed by the Delaware River Basin Commission (DRBC). The cancellation affects more than 1,300 landowners who were part of a master lease negotiated by the Northern Wayne Property Owners Alliance, costing the landowners about $187 million.
The Reuters analysis finds that oil and natural gas companies are finding increasing use in recycled hydraulic fracturing (or flowback) water because it is less expensive than clean water and is just as effective in fracking operations. Halliburton’s Walter Dale: “It’s a paradigm shift.”
Pittsburgh Tribune – Third Level of Shale Coming into Play
At least three drilling companies are reporting successful tests in the Upper Devonian play in Western Pennsylvania – the layer just above the more famous Marcellus. Including the Utica play below the Marcellus, these new results suggest three shale layers could be productive “It’s a leading indicator of what the future potential has in store,” says IHS Inc.’s Pete Stark.
Free Enterprise – Fuel for Thought on Gasoline Prices
While America is producing nearly 50 percent more oil today than it did in 2008 – nearly all of the increase occurring on private lands – looming regulatory and government actions could put at risk the gains of greater energy production and end a period of price stability, writes Matt Letourneau.
ABOUT THE AUTHOR
Mark Green joined API after a career in newspaper journalism, including 16 years as national editorial writer for The Oklahoman in the paper’s Washington bureau. Mark also was a reporter, copy editor and sports editor. He earned his journalism degree from the University of Oklahoma and master’s in journalism and public affairs from American University. He and his wife Pamela live in Occoquan, Va., where they enjoy their four grandchildren.