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Oil and Gas Roundup — May 9

May 09, 2013
TOPICS: In the news
U.S. rig count increases by 10 this week to 1,764

HOUSTON (AP) — Oilfield services company Baker Hughes Inc. says the number of rigs actively exploring for oil and natural gas in the U.S. rose by 10 this week to 1,764.
The Houston-based company said in its weekly report on Friday that 1,403 rigs were exploring for oil and 354 for gas. Seven were listed as miscellaneous. A year ago there were 1,965 rigs.
Of the major oil- and gas-producing states, Alaska and Oklahoma each gained five rigs, while North Dakota, Pennsylvania and Wyoming increased by one. Texas lost three rigs, and Louisiana and New Mexico each decreased by one. Arkansas, California, Colorado and West Virginia remained unchanged.
The rig count peaked at 4,530 in 1981 and bottomed at 488 in 1999.


Obama comments seen bolstering LNG shipping outlook on U.S. gas

U.S. President Barack Obama saying the country will probably become a net exporter of natural gas signals that new volumes will add demand for ships hauling the fuel in liquid form, Arctic Securities ASA said. 
Obama said in Costa Rica on May 4 that he had to decide on LNG exports and how they could lower energy costs in Central America. Companies have applied for licenses to export more than 200 million metric tons of LNG a year, and firm deals totaling 41 million tons will require about 65 vessels, Erik Nikolai Stavseth, an analyst at the Oslo-based investment bank, said in a report today. 
The Energy Department is considering about 19 applications to build export terminals for selling LNG to countries that lack free-trade agreements with the U.S. The volumes will increase shipping demand because longer distances mean each additional ton will require two vessels to carry instead of the current average of one, estimates RS Platou Markets AS, the investment- banking unit of Norway’s largest shipbroker. 
“We see the comment from Obama on U.S. potentially being a net exporter as highly positive for the LNG market, as it substantiates our view that U.S. will add a number of LNG export projects,” Stavseth said in the e-mailed report. 


OERB honors Sand Springs man for commitment to restoring Oklahoma’s land

SAPULPA — Sand Springs-resident Edward Sullivan was honored for his commitment to restoring Oklahoma’s orphaned and abandoned well sites at a special luncheon in Sapulpa, OK, on Thursday, May 2. Sullivan, an Oklahoma Corporation Commission Field Inspector, was honored by the Oklahoma Energy Resources Board (OERB) for submitting 28 orphaned or abandoned well sites to the OERB for clean up in 2012. 
The OERB relies heavily on the help of field inspectors to notify them of abandoned well sites around the state. Since the OERB’s inception in 1994, nearly $77 million has been spent restoring more than 12,500 sites. The restorations are voluntarily funded by Oklahoma’s oil and natural gas producers and royalty owners, at absolutely no cost to landowners. In 2012, $6 million was spent restoring 739 sites. 
Sullivan submitted 28 projects for District 1, and was honored with a gift card for the achievement. Also attending the event were Commissioners Patrice Douglas and Dana Murphy from the Oklahoma Corporation Commission.
 
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