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Tuesday, October 6, 2015

10/6/15 Links of the Day: Problems for Shale Drillers, OPEC & Non-OPEC Producers Could Be Ready to Cooperate and Drive Oil Prices Up, and More

EcoWatch:  Fracking Boom Goes Bust as Companies File For Bankruptcy   -   "U.S. shale production is in deep, deep trouble as the fracking boom bursts in the face of low oil prices. The September report from the oil cartel, OPEC, shows the writing on the wall. “Crude oil prices have declined more than 50 percent since last year,” says Nova Safo of NPR’sMarketplace. “Fracking companies..."

Eagle Ford Shale:  Shale Industry Shake-Up   -   "A new report generated by data company, FactSet, says that capital spending in the shale industry exceeded cash from operations by about $32 billion in the first six months of the year and is quickly approaching the deficit of $37.7 billion reported for..."

Bloomberg:  Solar & Wind Reach a Big Renewables Turning Point   -   "Wind power is now the cheapest electricity to produce in both Germany and the U.K., even without government subsidies, according to a new analysis by Bloomberg New Energy Finance (BNEF). It's the first time that threshold has been crossed by a G7 economy.1 But that's less interesting than what just happened in the U.S..."

WTOV:  $8 Million in Road Repairs on Way to Belmont County   -   "A major oil and gas company has agreed to put big money in road improvements in Belmont County. It's a more than $8 million project on 18 miles of roadway in Mead and York Townships, and it all starts Friday. "This is an improvement that would never be able to happen without the oil and gas industry," Belmont County Commissioner Matt Coffland said. On Thursday, local leaders highlighted the..."

Marcellus.com:  Oil Up to $50 on Speculation Producers Getting Together   -    "Oil prices rose on Tuesday, heading for the first three-day gain in five weeks, on signals that the world’s biggest producers of crude may act jointly to support prices, which have halved over the past year. Brent crude, the global oil benchmark traded up 75 cents at the $50.00 a barrel milestone..."

Natural Gas Now:  Peer Review Abuse Flares Up Again   -   "If you thought the peer review abuse connected with the New York State health studies used to rationalize Andrew Cuomo’s politically inspired fracking denial was something new or the worst you’ve seen, you haven’t seen the new Friends of the Earth (FoE) propaganda “study” targeted at Bakken shale oil drilling. It was “peer-reviewed” by another fractivist outfit..."

Oil & Gas Journal:  NYMEX, Brent Oil Prices Rise on Lower U.S. Rig Count   -   "Light, sweet crude oil prices for November delivery rose on the New York market Oct. 5 as did Brent crude oil prices on the London market, which analysts largely attributed to cuts in US production capacity as indicated by a falling rig count. Goldman Sachs analysts now expect US production will decline 225,000 b/d in 2016..."

GreenHunter Resources:  GreenHunter Resources Reports New Record Disposal Volumes   -   "GreenHunter Resources, Inc. (NYSE MKT:GRH) (NYSE MKT:GRH.PRC), a diversified water resource, waste management, environmental services, and hydrocarbon marketing company specializing in the unconventional oil and natural gas shale resource plays within the Appalachian Basin, reported today record SWD injection volumes company-wide of approximately 15,000 barrels per day over..."

Akron Beacon Journal:   University of Akron to Study Pipeline Corrosion with Grant   -   "U.S. Sen. Sherrod Brown (D-OH) today announced $238,424 in federal funding for the University of Akron to study how to prevent or mitigate pipeline corrosion. “Pipelines run through communities across..."

Energy & Environmental Law Blog:  Recent Ohio Oil and Gas Cases   -   "Here are two recent Ohio oil and gas cases we thought you may be interested in: Feisley Farms Family, L.P. v. Hess Ohio Resources, LLC (S.D. Ohio) – The Federal District Court for the Southern District of Ohio granted summary judgment in favor of Hess Ohio Resources, LLC in a case involving the validity of an oil and gas lease. The lessor alleged..."

The Intelligencer/Wheeling News-Register:  Rigs Down in Ohio and West Virginia, But Hopes Are Up   -   "Combined, Ohio and West Virginia have 35 natural gas rigs drilling, which is only half the 70 the two states had working in the Marcellus and Utica shales at this time last year, but optimism remains high among both industry leaders and..."

StateImpact Pennsylvania:  EPA Sets Tougher Ozone Standard, But Not Tough Enough for Some Greens   -   "After years of delay and court battles, the Obama administration released a final update to its regulation on ground-level ozone, or smog Thursday. The EPA set the standard at 70 parts per billion (ppb) of ozone, an irritant that..."

Energy in Depth:  Report: Data Indicate that Massive Improvements in Air Quality, Health a Direct Function of Shale   -   "It’s no secret by now what the shale gas (and oil!) renaissance made possible by the deployment of advanced hydraulic fracturing technology has done for the nation’s economy, its geopolitical position, and the millions of consumers and manufacturers who continue to benefit from historically low energy..."

Uticasummit.com:  2015 Utica Shale Capital Series   -   "Utica Summit III, presented by the Canton Regional Chamber of Commerce, The Repository, and ShaleDirectories.com, is scheduled for Tuesday, October 13, 2015 at The Conference Center, Kent State University at Stark. It will be a forum for high-level conversation about what is possible, now and in the future, all because of the technology that permits horizontal drilling of the shale plays in..."


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