Posts Tagged ‘company doings’

Wildcat or not, drillers want ‘confidential’ status for wells

It’s no secret that oil production is booming in North Dakota. But there are indeed countless secrets — technical, strategic and otherwise — associated with many of the oil and natural gas wells in the Roughrider State.

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California gasoline reels from another big refinery fire

They like sequels in California.

Maybe that explains why, for a second time this year, a fire has taken out a key crude distillation unit at a large US West Coast refinery, the West Coast’s third-biggest. And why, for a second time this year, spot gasoline price swings reached into record territory, and Golden State pump prices threaten $4/gal.  

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Petrodollars: CNOOC’s Nexen deal another step in its oil diversification drive

The acquisition of Canada’s Nexen by CNOOC, announced last month, makes sense on many fronts.

It gives CNOOC a stake in the North Sea, which means it’s effective now “long” the Brent market, where China has major exposure; and it also gives it a greater stake in what happens with WTI, since Nexen’s Canadian crude sold into the US will be tied to that benchmark.

Robert Perkins writes in this week’s Oilgram News column, Petrodollars, on the reasons why the deal is a logical one for CNOOC.

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What do bankruptcy and incest have in common? Merchant generation

Some Wall Street analysts were not very surprised by the announcement this week of the merger of two more merchant generators.

And they shouldn’t have been. There are only so many combinations possible when there are only four publicly traded merchant generation companies, and some of those combinations have already been tried. 

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The mad, mad world of merchant power, through the histories of NRG and GenOn

In the late 1990’s the brilliant idea emerged of breaking apart electric utilities to spur competition.

For the most part, electric utilities were local or regional monopolies comprised of a batch of power generation facilities that sold electricity to their captive residential and commercial customers over their transmission and distribution lines.

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BP bucks oil industry allies on advanced biofuels, with a boost from the US government

Oil giant BP is betting big on biofuels, which the London-based company says could account for 30% of the world’s liquid transportation fuels by 2030, sharply reducing demand for gasoline and other refined petroleum products in the process.

BP is especially enthusiastic about cellulosic biofuels, which are more environmentally friendly than conventional corn-based ethanol because they are made from non-edible plants or even “dedicated energy crops” grown on marginal lands. BP plans to break ground on a major cellulosic ethanol plant in Florida later this year, and it may also convert a conventional ethanol facility in its native United Kingdom to produce the fuel. 

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Former shale ‘Top Gun’ eyes new opportunities like a hawk

Can a “shaman of shale” conjure up another mega-successful exploitation company on his second go-round?

Floyd Wilson. former CEO of shale shamus Petrohawk Energy, has bet big that the answer is “yes.”  Just a few months into another hawk-themed corporate E&P venture, Wilson’s new independent Halcón Resources is already mimicking the hawk its name was designed to reflect. 

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Petrodollars: oil companies getting their house in order during flush times

The price of oil is creating a basis for solid profitability among companies that produce it. But that doesn’t mean they are just sitting back and reaping the benefits. In this week’s Oilgram News column “Petrodollars,” Starr Spencer discusses what they’re doing to strengthen their balance sheets.

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Chesapeake presses natural gas locomotives despite resistance by railroads

Chesapeake Energy and some Canadian companies are working to demonstrate the feasibility of using natural gas to fuel long-distance railroad locomotives, but the railroad industry itself contends the idea is still not practical.

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The fourth-place Golden State looks to the Monterey Shale for a revival

It’s no fun being kicked when you’re down.

California was already smarting after upstart North Dakota surpassed the Golden State as the US’ third largest oil producing state, according to January data released last week.

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