Shale News

    Bakken workforce housing supplier inks $30 million contract

    Target Logistics continues to supplant itself as the leading Bakken workforce housing supplier. Just months after announcing that all 100 room of its Williams County, N.D., facility were contracted out to Liberty Oilfield Services, Target Logistics announced this week that it has been awarded a $30 million, three year contract to supply workforce housing to one of the largest independent (non-integrated) crude oil and natural gas companies in the U.S. 

    Target Logistics has 16 properties in the U.S. and Canada with more than 5,300 total beds. 

    Bakken leader Continental Resources drills deeper into Three Forks formation

    DUNN COUNTY, ND — The Bakken-Three Forks tight oil formation is already one of the top producing oil plays in the US, but leading operator Continental Resources Inc. believes there may be even more oil in place than previously thought in deeper benches of the Three Forks formation.

    The bulk of production in the play now comes from the Middle Bakken and the shallowest layer of the underlying Three Forks formation, the Three Forks 1.

    Horizon Energy Eyes Webb County Texas for Additional Drilling Prospects

    Horizon Energy Corporation (OTCQB: HORI) is currently exploring additional drilling prospects in Webb County, Texas. Horizon recently signed an option agreement for a two-tract lease totaling 1,340 acres close to Mirando City. According to the Railroad Commission of Texas, oil and gas statistics for the state released in January of this year put Webb County in second place in Texas gas production for the month of November 2013, with 31,320,676 MCF.

    Proposed Lordstown natural gas plant could connect the supply and demand chain

    LORDSTOWN, Ohio - Industry experts believe that a natural gas plant proposed in Lordstown would join the local shale booms chain of supply and demand.

    Clean Energy Future out of Boston is eyeing a potential location for a new plant off of Salt Springs Road.

    Ohio Oil and Gas spokesperson Mike Chadney says a lot of the natural gas that's being produced right now is waiting for consumption.

    Anadarko, Noble promoting shale drilling benefits in Colorado

    Anadarko Petroleum Corp. and Noble Energy Inc., Colorado’s largest oil producers, are waging a media campaign to promote the benefits of hydraulic fracturing as residents push statewide measures to restrict the drilling technique as a threat to the environment.

    "It’s all eyes on Colorado," said Jon Haubert, a spokesman for Coloradans for Responsible Energy Development, created by the energy companies to answer critics of fracking, which uses pressurized water, chemicals and sand to break rock formations. "The oil and gas industry hasn’t done a good job of explaining fracking."

    Drilling-rich district may reduce assessments paid by 500,000

    Property owners from Akron to the Ohio River could see a reduction starting next year in the annual assessment paid to the Muskingum Watershed Conservancy District.

    The reason is that the district is flush with cash from Utica shale leases and royalties paid on natural gas and liquids produced from wells on district-owned lands.

    Reducing the assessment — about $12 a year for most landowners — will be recommended by district staff on Friday when the district’s governing board meets at 9 a.m. in New Philadelphia.

    Shale oil, gas production to increase, EIA says

    WASHINGTON, April 15 (UPI) -- Oil production and natural gas production from the six prominent shale basins in the United States should increase in May, a U.S. drilling report said.

    The U.S. Energy Information Administration issued a monthly drilling report for the six shale basins -- Bakken, Eagle Ford, Haynesville, Marcellus, Niobrara and Permian -- that together account for almost 90 percent of the growth in U.S. oil production and nearly all of the gains in natural gas.

    TRIPLETT: Bonanza on the Eagle Ford Shale

    ATASCOSA COUNTY, Texas — The American flag flies proudly from the drilling rig. It’s the first thing you see when you step out of the car.

    Employees of Pumpco, an oil-field supplier, and Stuart Petroleum Testers wear American flag badges on the shoulders of their coveralls. When asked about it, they give a great big grin — proud of their jobs , proud of their companies and proud of the contribution they are making to their country. As well they should.

    Legislation signed to encourage enhanced oil recovery in Michigan

    Under House Bill 4885, sponsored by state Rep. Aric Nesbitt, companies that use an enhanced method of extracting oil, also called enhanced oil recovery (EOR), will benefit from reduced taxes. Under this bill, EOR projects will be taxed at a 4% severance rate, rather than 6.6% for oil and 5% for natural gas, as has been the case under Michigan’s Severance Tax Act.

    ConocoPhillips to reopen Kenai LNG plant, resume exports

    ConocoPhillips is restarting its liquefied natural gas plant on the Kenai Peninsula and will resume shipments of LNG in May, the company announced April 14. Five shipments are planned this year, ConocoPhillips spokeswoman Amy Burnett said.

    The announcement came as the U.S. Department of Energy issued its approval of exports, also on Monday. DOE authorized the shipment of 40 billion cubic feet of gas over two years.

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