From the U.S. Energy Information Administartion today:
The United States exported 401,000 barrels per day (bbl/d) of crude oil in July 2014, the highest level of exports in 57 years and the second highest monthly export volume since 1920, when EIA's published data starts. Recent crude oil exports are also noteworthy for both their origins and destinations. As a result of existing U.S. crude oil export restrictions, most U.S. crude exports are sourced domestically and are sent only to Canada. However, since April, crude exports have included modest amounts of Canadian-produced barrels that were moved through the United States and then re-exported to Switzerland, Spain, Italy, and Singapore.To read more or comment...
An environmental group has filed a second lawsuit challenging a plan by Pennsylvania Gov. Corbett to drill in state parks and forests.
The suit was filed by the Delaware Riverkeeper Network.
It challenges Corbett's executive order from last May to allow more drilling to plug budget gaps.
It is the second lawsuit challneging state park and state forest drilling in Pennsylvania.To read more or comment...
The Utica shale has been overshadowed by the neighboring Marcellus shale, but it's time that should change, says NASDAQ.com.
The Utica shale is coming into it sown, the report says.
Click here to read the full story..To read more or comment...
From the American Petroleum Institute on Thursday:
WASHINGTON, October 30, 2014 – The U.S. energy renaissance has been driven by innovations in horizontal drilling and hydraulic fracturing, which were responsible for about 48 percent of U.S. oil production and shaved up to $0.94 per gallon from fuel prices in 2013, according to a new report.
“For the first time in generations, surging domestic production is driving our energy security and creating large benefits for consumers,” said API Vice President for Regulatory and Economic Policy Kyle Isakower. “Over the last five years, nearly every barrel of new U.S. production can be attributed to the use of horizontal drilling and hydraulic fracturing technologies, and that production is reshaping global markets in a way that is strengthening the U.S. both economically and diplomatically.”
The study, by ICF International, compared historical price and production data from 2008 to 2013 against a scenario without advanced horizontal drilling and hydraulic fracturing. Without the technologies, ICF estimated that international crude oil prices per barrel would have averaged $122 to $150 in 2013 – an increase of $12 to $40. The corresponding discount on gasoline and other refined products was $0.29 to $0.94 per gallon. In total, U.S. consumers saved an estimated $63 to $248 billion in 2013. From 2008 to 2013, the cumulative savings for U.S. consumers ranged from $165 to $624 billion.
“It’s important for policymakers to recognize that the U.S. energy revolution was not a lucky accident, but the result of decades of American innovation aimed at unlocking our resources here at home,” said Isakower. “To build that momentum and strengthen our position as an energy superpower, it’s critical that policymakers turn aside duplicative regulations on hydraulic fracturing and ensure that U.S. consumers can benefit from energy production on federal lands that remain off-limits.”
The study also found that U.S. oil production utilizing horizontal drilling and hydraulic fracturing totaled 4.78 million barrels per day in 2013, accounting for 48% of all production – up from 11 percent in 2008. Although ICF limited its analyses to crude production and liquid fuels like gasoline, an earlier study by IHS estimated that the average U.S. household saved about $1,200 in 2012 from unconventional production of both oil and natural gas, a cumulative savings of about $163 billion.
OPEC is resisting pressure to cut oil production while demand slumps as it tests how low prices must go to make U.S. shale oil unprofitable, Bloomberg News reports.
As producers become more efficient, that floor is sinking, it said.
The Organization of Petroleum Exporting Countries boosted output by the most in 13 months in September, even as crude plunged into a bear market and demand growth weakens to a five-year low, according to the International Energy Agency.
Saudi Arabia and Kuwait, the largest and third-largest members of OPEC, indicated the price slump doesn’t warrant immediate production cuts, the IEA said.To read more or comment...
Chesapeake Energy Corp,the Oklahoma-based firm is the No. 1 driller in Ohio.
Rig Count Interactive Map by Baker Hughes, an energy services company.
Shale Sheet Fracking, a Youngstown Vindicator blog.
The Ohio Environmental Council, a statewide eco-group based in Columbus.
Earthjustice, a national eco-group.
People's Oil and Gas Collaborative-Ohio, a grass-roots group in Northeast Ohio.
Concerned Citizens of Medina County, a grass-roots group.
No Frack Ohio, a Columbus-based grass-roots group.
Fracking: Gas Drilling's Environmental Threat by ProPublica, an online journalism site.
Pipeline, blog from Pittsburgh Post-Gazette on Marcellus shale drilling.
Allegheny Front, environmental public radio for Western Pennsylvania.