Shale News

First Colombia Gold announces new oil strike

First Colombia Gold Corp. (FCGD) announced today that the Company hit oil on another well on a lease in Monroe County, Kentucky.

Drilling activity on this new well began on November 17, 2014, after moving on site, the crew began drilling and was able to set 200 feet of 7 inch casing. On November 18, 2014, the well was cemented and given 24 hours to allow the cement time to properly set up. On November 20, 2014, the drilling crew resumed drilling and discovered oil at that time.

US refining sector sees a boost in quarterly results

Companies with an interest in the US downstream sector have seen a general, significant improvement in performance in Q3 2014 according to a new analysis from Evaluate Energy. The main players, which include super majors BP,Chevron (CVX), ExxonMobil (XOM), Royal Dutch Shell (RDS) and Total (TOT), as well as a handful of domestic players (see note 1), showed a combined increase in adjusted global downstream earnings (see note 2) this quarter.

Bluestone line to expand, accept more Southwestern gas

DTE Energy Co. will expand its Bluestone Gathering System in Susquehanna County, the company announced this week.

By mid-2016, the Detroit-based company will add 200 million cubic feet of capacity per day to the roughly 44-mile Bluestone line, which gathers gas mostly from Susquehanna County’s eastern half and delivers it to the interstate Tennessee Gas Pipeline and the Millennium Pipeline in New York.

New Houston location chosen for Energy Institute High School

Houston is home to the nation's first energy high school and, now, the Energy Institute High School finally has a permanent location to call home.

The plan is to build a $37 million, 110,000-square-foot magnet school campus at Southmore Boulevard at Tierwester Street, which is south of downtown and Texas Southern University, at the 12-acre site of the former Lockhart Elementary School, according to the Houston Independent School District.

US oil and gas rig count up 1 to 1,929

HOUSTON (AP) — Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gasin the U.S. rose by one this week to 1,929.

The Houston firm said Friday in its weekly report that 1,574 rigs were exploring for oil and 355 for gas. A year ago there were 1,761 active rigs.

Of the major oil- and gas-producing states, Oklahoma gained seven rigs, Texas increased by four, Pennsylvania was up three and Alaska and Louisiana increased one each.

Jefferson County Sees 'Downstream Activity' Thanks to Gas Boom

Jefferson County may not be seeing the large Utica Shale-related growth of its neighboring counties, but it is one of the biggest factors of it's rebound.     

Steubenville and the surrounding areas are seeing a dramatic increase in business activity due to the natural-gas industry, particularly from fracking companies and other service firms that have set up shop because of the Ohio River frontage and proximity to Utica wells.

Evan Scurti, director of economic development of the Jefferson County Port Authority, says he projects the business activity to grow.

Navitas announces pipeline for northern edge of the Eagle Ford

The Woodland-based Navitas Midstream Partners LLC this week announced a long-term, fee-based agreement to provide gathering and processing services in the northeastern part of the Eagle Ford Shale.

Navitas did not identify the producer it’s working with in Brazos and Grimes counties.

Navitas will build the La Bahia system, a 20-inch gathering line that will take natural gas from Brazos County to a processing plant that will be built in Grimes County.

The cryogenic processing plant will have a capacity of about 120 million cubic feet of gas per day.

Analysts: Permian still hot spot despite lower prices

Crude prices below $80 a barrel may have cooled some of the sizzle from the Permian Basin. Many are asking what exactly caused oil prices to lose about $30 over the last five months, how long prices will stay at these levels and whether or not equity markets will remain open in 2015.

A trio of advisors say the region remains a hot spot.

“The Permian Basin has been through many cycles over the years. oil prices have gone up and down; markets have opened and closed,” said Chris Carter, managing director, Natural Gas Partners, addressing the recent Executive Oil Conference.