Most Clicked API SmartBrief Stories
1. Noble Energy directs $8 billion to Niobrara expansion project
API SmartBrief | May 23, 2012
Noble Energy will spend about $8 billion over the next five years to expand its operations in Colorado's Niobrara Shale formation. The company is working on boosting the density of wells drilled from the same pad. "We are continuing to ramp up and invest" in the Niobrara, said Noble Energy Chairman and CEO Charles Davidson. Denver Post, The (05/22)
2. API criticizes EPA for dismissing petition against biofuel mandate
API SmartBrief | May 29, 2012
The American Petroleum Institute criticized the Environmental Protection Agency for dismissing petitions to waive cellulosic biofuel rules for refineries. In the petitions, API, the American Fuel & Petrochemical Manufacturers, Western States Petroleum Association, and Coffeyville Resources Refining & Marketing argue that such a biofuel does not exist. "EPA's mandate is out of touch with reality and forces refiners to pay a penalty for not using imaginary biofuels," said Bob Greco, API's director of downstream and industry operations. Oil & Gas Journal (05/25)
3. N.D. has found balance in energy rules, Gerard says
API SmartBrief | May 24, 2012
North Dakota has found a way to balance its oil and natural gas regulations, said American Petroleum Institute President and CEO Jack Gerard. The rules are strong, but they also provide energy firms with flexibility in developing the state's resources, Gerard said. "North Dakota is a model that leads the way. I think they've struck a good balance," he said. Bismarck Tribune (N.D.), The (05/23)
4. API: Keystone XL can help U.S. achieve energy independence
API SmartBrief | May 25, 2012
The U.S. can achieve energy independence in 12 years if it takes advantage of domestic drilling opportunities and Canada's crude resources, said John Felmy, the American Petroleum Institute's chief economist. Environmentalists should support TransCanada's Keystone XL pipeline because it has low shipping emissions, Felmy said during The Houston Energy Forum. "The Canadian oil sands ... are worth about $14 trillion in terms of value. The GDP of Canada is $1.4 [trillion]. The notion that they wouldn't develop something like that isn't realistic. It's silly," Felmy said. American City Business Journals (05/24)
5. Carl Icahn acquires 7.6% stake in Chesapeake for $785 million
API SmartBrief | May 29, 2012
Investor Carl Icahn spent $785 million to acquire a 7.6% stake in Chesapeake Energy and is seeking direct shareholder representation on the company's board. The company said it would look into the proposal after a new independent chairman is selected. Yahoo! (05/25)
6. Texas regulator works to curb flaring
API SmartBrief | May 24, 2012
The Texas Railroad Commission is working to curb industrial flaring. State regulators want to make sure that flaring rules keep up with the oil and natural gas drilling boom, and that energy firms use efficient and up-to-date equipment. FuelFix.com (05/23)
7. Chesapeake Energy to sell acreage in Colo., Wyo.
API SmartBrief | May 25, 2012
Chesapeake Energy seeks to sell about 500,000 acres in Colorado and Wyoming as it works to generate funds to address a funding shortfall. The properties also include 29 producing wells in the Denver-Julesberg Basin and the company's shares in 24 nonoperated wells. Reuters (05/24)
8. Drillers are targeting layer between rich N.D. formations
API SmartBrief | May 25, 2012
Energy companies operating in North Dakota are now targeting the Pronghorn play, which lies between the prolific Bakken and Three Forks formations in the state. Whiting Petroleum has drilled a number of horizontal wells in the play, and early results are good, said James Volker, chairman and CEO of the company. Grand Forks Herald (N.D.) (05/24)
9. BP, feds reach settlement over Ind. refinery issues
API SmartBrief | May 24, 2012
BP and the federal government have reached an $8 million settlement over alleged pollution violations at the company's refinery in Whiting, Ind. BP also agreed spend about $400 million to install pollution controls at the site to allow it to process Canadian heavy crude oil. "We look forward to completion of the modernization project, which will improve the refinery's efficiency and competitiveness while continuing to reduce emissions," said Nick Spencer, the plant's manager. Reuters (05/23) Hill, The (05/23)
10. Salazar orders live test of offshore-well-containment system
API SmartBrief | May 25, 2012
Interior Secretary Ken Salazar has ordered Marine Well Containment to perform a live, deepwater test of its offshore-well-containment system this summer. "One thing Deepwater Horizon taught us is that you must always be ready to respond to the worst-case scenario," Salazar said. The Helix Well Containment Group, another consortium, is expected to carry out a similar test. Platts (05/24) FuelFix.com (05/24)
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