January 28, 2010
posted on: Jan 28, 2010
IPAMS Meetings and Announcements
The IPAMS 2010 Washington Call-Up is just four weeks away!
March 1-3, 2010 (beginning at 4:00 pm on March 1st)
Space is filling up fast for IPAMS 10th Annual Washington, D.C. Call-Up.
The western natural gas and oil industry has answers for many of America’s most pressing economic, environmental and energy challenges. Unfortunately, not everyone in Congress is aware of the solutions our industry provides. Please consider joining the 45 IPAMS members already committed to attending so you too can speak directly to the policymakers who are shaping the future of our industry. No matter what position you hold in your company, IPAMS can use you in Washington D.C.
This year’s trip will include meetings with over 100 Members of Congress and their staffs, the media and affiliate trade associations. We also have plenty of social events planned, including a joint reception for Congress with IPAA at the new Capitol Visitor’s Center. Click here for the 2010 Washington DC Call-Up draft agenda. (Please note that this year’s Call-Up will begin with a Board Meeting and Member Briefing at 4:00 p.m. on Monday, March 1, so please make your travel arrangements accordingly.)
IPAMS would like to thank the following companies for sponsoring this year’s Washington DC Call-Up:
Banko Petroleum
Mercator Energy, LLC
If you would like to help sponsor the Call-Up, please contact Becca Ness.
Click here to register for IPAMS 10th Annual Washington, D.C. Call-Up March 1-3, 2010.
Already registered? Don’t forget about the pre-trip briefing… Due to the popularity of this trip, IPAMS has added a third Denver briefing prior to the Call-Up to ensure you are fully prepared to speak on behalf of industry. If you are registered to attend this year’s Call-Up, please plan on attending one of the following briefings: February 18th, February 22nd, or February 25th at 11:30 a.m. (lunch will be served). Please RSVP to Becca Ness and indicate which briefing you plan on attending.
IPAMS Issue Alert: Ask Congress to Oppose Tax Increases
As Congress and the Obama administration look for ways to pay for health care reform and other programs, America’s independent natural gas and oil producers are once again in the crosshairs. Congress is considering proposals by the Obama administration to significantly increase our industry’s tax burden, which would threaten jobs and delay our economic recovery. Please take a moment to contact your congressional representatives and ask them to oppose these punitive tax proposals that will make the development of clean, domestic natural gas even more costly and difficult, and endanger many of the 260,000 jobs and billions of dollars in revenue to local and state governments that western producers provide. Click here for a detailed explanation of each of the tax provisions under consideration.
Lack of Policy Guidance at Interior Leaves Western Producers in the Dark
IPAMS sent a letter to Interior Secretary Ken Salazar outlining the concerns of Western energy producers over the uncertainty that has resulted from Department of Interior’s (DOI) recently announced changes to the onshore natural gas and oil program. Although DOI announced new policies for energy development on public lands, it has not formalized the changes in guidance documents. In a capital-intensive industry that relies on certainty to attract investors, DOI’s actions are endangering jobs and economic growth in the West. Click here to read the news release.
Banking and Finance Committee Luncheon
February 3, 2010 at 11:30 a.m., the Onyx Room at the Brown Palace
Hein and Associates will be presenting “Oil and Gas Reserve Disclosures – Are You Prepared for the Changes?”
Please join IPAMS for a Banking and Finance Committee Luncheon to discuss the new oil and gas reserve disclosures that will directly affect the process of accounting in the energy industry.
Advance registration is $45 for members and $55 for non-members. Registration at the door is $50 for members and $60 for non-members. Registrations and cancellations must be received on Monday, February 1, 2010 at noon. Click here to register.
Get More Value From Your IPAMS Membership
Each year, professional trade organizations like IPAMS ask you for financial support. This year, we also encourage you to get more value from your membership.
IPAMS volunteer leaders and professional staff were able to save the natural gas and oil industry here in the Intermountain West over $9 billion during 2009. Even so, we know we could do more if we were able to better leverage the voices of the 260,000 natural gas and oil employees in our region. Our future success depends on an actively involved and deeply informed membership. Likewise, the greatest challenge we face is effectively communicating with our members’ employees across our region.
Click here to learn how you and your employees can best maximize the value of IPAMS.
Other Upcoming Meetings
• Uinta Basin Air Quality Meeting – January 29th, 9:00 a.m.
• Natural Gas Committee Meeting – February 2nd, 11:30 a.m.
• Air Quality Committee Bi-Weekly Call – February 2nd, 3:00 p.m.
• Utah Basin Advisors Network – February 9th, 10:00 a.m.
• Montana Basin Advisors Network – February 17th, 1:00 p.m.
• IPAMS Washington DC Call-Up Briefing – If you are registered to attend this year’s Call-Up, please plan on attending one of the following briefings: February 18th, February 22nd, or February 25th at 11:30 a.m. (lunch will be served.) Please RSVP to Becca Ness and indicate which briefing you plan on attending.
Agendas are available for upcoming meetings at http://www.westernenergyalliance.org/advocacy/. All meetings unless otherwise indicated are Mountain time, and at IPAMS and via teleconference.
Visit westernenergyalliance.org for the latest news affecting the Intermountain West’s oil and natural gas industry. Headlines are updated daily from local, national and international news sources. You may also sign up for daily newsbrief emails under the Manage Account section of the “Members Only” page.
The West
Public lands really do belong to all Americans
published in: St. George Spectrum on: 01/25/2010 by: Mike Small
A few things need to be clarified about local public lands. First, federal public lands in Utah belong to all Americans. The present population of the United States is slightly more than 300 million, and each and every one of us technically owns an equal share of the public lands, regardless of where we reside. A person who lives in Dayton, Ohio, has no less ownership than a person who lives in Ivins, Utah.
Sprague’s Pipit ESA Listing Determination
The U.S. Fish and Wildlife Service has issued a positive 90-day finding that the Sprague’s Pipit, a small bird native to Great Plains grasslands with breeding habitat in Montana and North Dakota, warrants further consideration for listing as threatened or endangered under the Endangered Species Act. States that would be impacted by a listing include Montana, North and South Dakota, Nebraska, Kansas, Oklahoma and Texas. The petition, submitted by WildEarth Guardians, claims that oil and gas development has resulted in habitat losses and disturbed the species throughout its range. Public Lands Advocacy (PLA) has contracted with a wildlife consulting firm to review and provide comments and is seeking funding from companies with activities in the affected areas to cover costs associated with this project. Contact Spencer Kimball at 303-623-0987 for more information or if you would like to contribute. Click here to view the listing petition and click here to view the Federal Register Notice.
Colorado
Millions of dollars amassed in Colorado campaign donations
published in: Denver Post on: 01/26/2010 by: Burt Hubbard
State candidates, stealth political groups and special-interest political committees in Colorado have amassed millions of dollars in campaign donations to kick off the 2010 elections. At stake are the governorship, control of the state legislature, and the redistricting of state and federal legislative districts. “This is that one election in a decade with redistricting,” said Colorado State University political science professor John Straayer.
Colorado oil, gas group sees slow recovery ahead
published in: Associated Press on: 01/23/2010 by: Judith Kohler
Regulatory certainty and “a welcoming social and economic environment” will be crucial as Colorado’s oil and gas industry emerges from the recession and faces competition from big gas fields back East, said the new president of a state trade group. Tisha Conoly Schuller, named president of the Colorado Oil and Gas Association in December, is taking over as the state’s natural
Montana
Well Control Training Opportunity
February 26-28, 2010 in Butte, MT
Montana Tech and the School of Mines and Engineering is pleased to announce a special Well Control training class that will be held on the Montana Tech campus in Butte, Montana. This IADC/API certified course is designed for engineers and company representatives. Click here to learn more.
New Mexico
Carlsbad Sues New Mexico Company Over Brine Well
published in: Associated Press on: 01/22/2010 by: Susan Montoya Bryan
The state of New Mexico and city of Carlsbad are legally pursuing an oilfield services company they said is responsible for a giant cavern that has formed a few hundred feet underground. The city filed a lawsuit in state district court against I&W Inc. on Thursday, alleging that the company’s operation of a brine well at the site and its failure to mitigate a potential collapse of the well constitute a public nuisance that could result in irreparable harm.
North Dakota
ND officials: New oil pipeline would expand market
published in: Associated Press/BusinessWeek on: 01/27/2010 by: Staff
North Dakota regulators say a proposed new oil pipeline will expand market access for crude oil and cut down on truck traffic. Bridger Pipeline LLC wants to build the 85-mile crude oil pipeline through McKenzie, Dunn and Billings counties in western North Dakota.
ND research money to explore waste gas for power
published in: Associated Press on: 01/27/2010 by: Staff
Part of a North Dakota research fund will be used to explore whether wasted natural gas can generate electricity for oil producers. Many oil wells also produce natural gas. In some areas of western North Dakota there’s no way to transport the gas to market, so it’s burned at the well head in a process called flaring.
ND: Company gets funds for flare project
published in: Bismarck Tribune on: 01/27/2010 by: Rebecca Beitsch
A company in search of a more sustainable use for the byproducts of drilling for oil will be getting funding from the state government. Blaise Energy will receive $375,000 in state research funds for its work into how to better use excess gas that surfaces during the drilling process. The Industrial Commission, which consists of the governor, attorney general, and agriculture commissioner, Monday approved the measure unanimously.
North Dakota Raises Oil Forecast on Advances by Shale Explorers
published in: BusinessWeek/Bloomberg on: 01/22/2010 by: Jim Polson
North Dakota raised its forecast for oil output on growth in and around the Bakken Shale formation, portending further gains nationwide after the largest U.S. increase since Dwight D. Eisenhower’s first term as president. Output may reach 300,000 to 400,000 barrels a day by mid- 2011 and stay at that level for 10 to 15 years, said Lynn Helms, director of the North Dakota Mineral Resources Department. The state’s previous estimate was 220,000 to 280,000.
Bakken and Beyond!
May 2 – 4, 2010 in Bismarck, North Dakota
The 18th Williston Basin Petroleum Conference & Expo will be held May 2 – 4, 2010 in Bismarck, North Dakota.Technical presentations will be the highlight of the Conference, as industry experts from across North America cover all the “Hot Plays” in the Williston Basin including the Bakken, Three Forks, and Lodgepole, along with talks on deep and shallow gas plays and CO2-EOR opportunities in the Basin. In addition, crude oil transportation issues and a panel on Bakken fracture stimulation techniques will be of great interest to attendees. Keynote speakers include North Dakota Governor John Hoeven, Clarence Cazalot of Marathon Oil Company, and Jim Volker of Whiting Oil and Gas. Click here to learn more.
Utah
Rural Business Conference
February 18, 2010 in Price, UT
Senator Bennett is again hosting a Rural Business Conference and is seeking sponsors. Please consider sponsoring this event. More information, registration and sponsorship event is available at http://www.ruralutah.com/.
Natural Gas STAR Tech Transfer Workshop
March 23-24, 2010 in Vernal, UT
EPA’s Natural Gas Star Program in conjunction with Anadarko, Newfield, IOGCC and IPAMS will be hosting a Producer Technology Transfer Workshop in Vernal on March 23rd from 9:30 – 4:15, with a field trip of Newfield’s operations on March 24th. Click here for more information about this free workshop.
Wyoming
Get to know Rep. Cynthia Lummis
published in: Politico on: 01/26/2010 by: Anne Schroeder Mullins
Rep. Cynthia Lummis (R-Wyo.) has the unusual honor of being congresswoman-at-large: the entire state of Wyoming is her district, which makes her a little like a senator. But a little more fun.
Draft EIS made for gas plant
published in: Billings Gazette/Casper Star-Tribune on: 01/26/2010 by: Jeff Gearino
Federal officials on Monday released their draft environmental study for a pioneering carbon sequestration project proposed for western Wyoming. The project could boost the state’s burgeoning underground CO2 storage industry. Cimarex Energy Co. of Denver is proposing to construct the large-scale carbon sequestration project as part of its Rand Butte Project along the Wyoming Range in southwest Wyoming.
Coalition opposes 2-D seismic study
published in: Billings Gazette/Casper Star-Tribune on: 01/25/2010 by: Jeff Geraino
A coalition seeking to protect scenic Little Mountain from full-scale oil and gas development is opposing a two-dimensional seismic study proposed for next fall in the area. Greater Little Mountain Coalition officials said last week that the proposed 2-D seismic project by an independent Colorado energy company would disturb a unique high-desert area that supports native Colorado River cutthroat trout.
Powder River Basin really is the energy capital of the world
published in: Gillette News-Record on: 01/23/2010 by: Steve McManamen
It is a common local saying that the Powder River Basin is the Saudi Arabia of coal. But to be technically correct, the Powder River Basin has almost eight and one-half times the energy resources found in Saudi Arabia. That fact comes from a recently published report on the economic impact of Powder River Basin coal by a University of Wyoming School of Energy Resources professor of energy economics.
Washington Watch
22 Western Members of Congress pen letter to Sec. Salazar voicing concerns about Department of Interior’s oil and gas leasing reforms
January 27, 2010
“We are deeply concerned that these misguided policy changes will have a negative impact on job growth and economic recovery in our States and across the West. This is unacceptable at a time when American families are facing ten percent unemployment and rising energy costs.” Click here to read the entire letter.
For Salazar, a Year of Interior Re-Design IPAMS Quoted
published in: New West on: 01/27/2010 by: David Frey
When Interior Secretary Ken Salazar took over a year ago, his department was reeling from scandal and plagued by criticism that it was too cozy with the oil and gas industry. Employees were found to be sharing cocaine and bedrooms with industry representatives—a symbol of just how close they had become under the Bush administration.
NGSA, IPAMS officials urge Obama not to overlook natural gas IPAMS Quoted
published in: Oil & Gas Journal on: 01/27/2010 by: Nick Snow
Two more oil and gas association officials said they hoped President Barack Obama’s Jan. 27 State of the Union message reflects policies that encourage—instead of discourage—US natural gas development. “We urge the president to remember that natural gas is not only an environmental solution, it is an economic solution for our country,” Natural Gas Supply Association Pres. R. Skip Horvath said in a statement.
Natural Gas More Costly With Regulation IPAMS Quoted
published in: National Journal on: 01/27/2010 by: Amy Harder
Kathleen Sgamma, Director of Government Affairs for the Independent Petroleum Association of Mountain States (IPAMS), submitted the following response: No, the EPA should not regulate greenhouse gas emissions under the Clean Air Act (CAA). Regulation under CAA would be be intrusive, inefficient, and excessively costly.
Obama pushes Senate on climate bill, signals compromises on drilling
published in: The Hill on: 01/27/2010 by: Ben Geman
President Barack Obama pressed in his State of the Union address for Senate action on “comprehensive” energy and climate change legislation this year and appealed to skeptics of global warming to back the plan on economic grounds. The substantial mention of climate legislaton – while omitting any specific discussion of caps on greenhouse gas emissions – will likely allay fears among some climate change activists that the White House will not spend political capital on the issue in 2010.
Advocates of Climate Bill Scale Down Their Goals
published in: New York Times on: 01/27/2010 by: John M. Broder and Clifford Krauss
As they watch President Obama’s ambitious health care plan crumble, the advocates of a comprehensive bill to combat global warming are turning their sights to a more modest package of climate and energy measures that they believe has a better chance of clearing Congress this year. Their preferred approach, a cap-and-trade system to curb emissions of climate-changing gases, already faced a difficult road in a bruised and divided Senate. Its prospects grew dimmer after the special election in Massachusetts last week was won by Scott Brown, a Republican who repudiated the federal cap-and-trade proposal in his campaign.
If polls say ‘yes,’ why do lawmakers say ‘maybe’?
published in: E&E News/New York Times on: 01/26/2010 by: Alex Kaplun
If one were to judge the fate of climate legislation based solely on public polling, it would appear that it is only a matter of time before the bill easily cruises through Congress and arrives on the president’s desk. Hardly a week seems to go by without a new poll showing strong support for climate change legislation. And even though advocates on both sides have spent millions of dollars for or against the bill, those polling numbers have stayed fairly steady.
Saved by Stimulus in 2009, Wind Industry Pushes for RES
published in: E&E News/New York Times on: 01/26/2010 by: Mike Soraghan
The federal stimulus package turned what could have been a disastrous 2009 for the wind industry into its best year ever. The federal stimulus package turned what could have been a disastrous 2009 for the wind industry into its best year ever. “We thought we were going to lose half our industry,” said Denise Bode, CEO of the American Wind Energy Association. “Then the Recovery Act came along, and we were able to create jobs.”
Click here to read the Institute for Energy Research’s news release “Whither the Wind.”
Omnibus natural resource bill likely this year
published in: E&E News (Subscription Required) on: 01/26/2010 by: Noelle Straub
Key lawmakers say they are likely to package numerous wilderness, parks and other natural resources bills into one broad package with the goal of enacting it by the end of this year. House Natural Resources Chairman Nick Rahall (D-W.Va.) said his panel will continue to look at individual pieces of legislation and move them expeditiously to the floor and through the House. But he added that in the end he expects to craft an omnibus public lands bill this year, just as Congress did last year.
Exxon-Xto Deal Forces Congress to Reconsider Natural Gas
published in: E&E News/New York Times on: 01/25/2010 by: Joel Kirkland
With a $31 billion swipe of its virtual debit card, Exxon Mobil Corp. has started changing decades-old conventional wisdom in Congress that accessing the ocean of natural gas trapped under U.S. soil is merely a pipe dream. Natural gas is the cleanest of the fossil fuels, and electric utilities that burn it to generate electricity belch out half the amount of carbon dioxide emissions they produce when when they burn coal. Exxon’s decision in December to purchase Fort Worth, Texas-based XTO Energy, one of the nation’s largest gas producers, could mark a dramatic shift in the way Washington understands domestic energy supply.
Click here to read IPAA’s Open Letter to Congress regarding Rep. Diana DeGette’s (D-CO) comments
Congress Went to Denmark, You Got the Bill
published in: CBS on: 01/25/2010 by: Sharyl Attkisson
Thanks to recently filed Congressional expense reports there’s new light shed on the Copenhagen Climate Summit in Denmark and how much it cost taxpayers. CBS News Investigative correspondent Sharyl Attkisson reports official filings and our own investigation show at least 106 people from the House and Senate attended – spouses, a doctor, a protocol expert and even a photographer.
Public lands are no more ‘candy store’ for oil and gas companies IPAMS Quoted
published in: ABH News on: 01/07/2010 by: Pranika Jain
Drilling in public lands, which seemed to be easy and smooth for oil and gas companies during the Bush administrations, will have to undergo harder new regulatory hurdles and environment scrutiny. Interior Secretary Ken Salazar announced the new changes on Wednesday. Under this new policy, the Bureau of Land Management was directed to do on-site assessment and gather extended public input on proposed oil and gas leases. Currently the BIM oversees more than 260 million acres of federal land.
DOE Office of Fossil Energy Appointment Announcement
U.S. Department of Energy’s (DOE) Office of Fossil Energy is now soliciting applications from persons interested in appointment as members of one of two Federal advisory committees chartered under the Energy Policy Act of 2005 (EPACT), Subtitle J, Section 999D. These advisory committees advise the Secretary of Energy on research programs related to ultra-deepwater and unconventional petroleum resources technology. The objectives of these programs are to develop and implement research, development, demonstration, and commercial application of technologies for ultra-deepwater and unconventional natural gas and other petroleum resource exploration and production. Applications for either of these committees must be received by March 1, 2010.
For more information about these committees, their duties, past activities, current members and how to apply online or via fax, please visit the committee websites: http://www.fe.doe.gov/programs/oilgas/advisorycommittees/UltraDeepwater.html
and
http://www.fe.doe.gov/programs/oilgas/advisorycommittees/UnconventionalResources.html.
Media Watch
Op-ed: No-energy policies hurting Colorado
published in: Denver Post on: 01/28/2010 by: Rep. Doug Lamborn (R-CO)
President Obama’s misguided energy policies must be reversed because they are hurting the economy. Even though no binding agreement came out of the climate summit in Copenhagen, and the cap and trade bill is stalled in the Senate, both have injected uncertainty into a fragile economy. The EPA is making noises about imposing draconian carbon dioxide emission standards on an arbitrarily constructed list of businesses, creating further doubt. Business owners are unsure if they should expand or sit tight while they try to determine how the proposed regulations and restrictions will impact their bottom line.
Op-ed: Salazar’s proposals a good step
published in: Casper Star-Tribune on: 01/27/2010 by: Brad Powell, Director, Trout Unlimited
The recent announcement from Secretary of the Interior Ken Salazar was just what the doctor ordered when it comes to the public land energy debate currently raging in the West. It was a relief to see some balance restored to the oil and gas leasing process that, over the past decade, prioritized energy extraction at the expense of virtually every other use of land belonging to all Americans. It’s no wonder, with the bounty it’s enjoyed in recent years, the industry is pushing back and crying foul over Salazar’s reforms — which include allowing more public input and site-specific reviews of leasing applications.
Editorial: Energy plan (Utah)
published in: Salt Lake Tribune on: 01/26/2010 by: Editorial Board
Utah should have a long-term energy plan, so we welcome Gov. Gary Herbert’s announcement that he will assemble a panel of experts to create one. We agree with the governor that Utah is blessed with diverse energy resources, from fossil fuels to renewables, that should be weighed in any strategic plan. We only wish that he had mentioned climate change when he sketched his idea Tuesday night as part of his State of the State address. The governor proposes a 10-year-strategic plan he calls the Utah Energy Initiative.
Editorial: The Case for a Climate Bill
published in: New York Times on: 01/23/2010 by: Editorial Board
The conventional wisdom is that the chances of Congress passing a bill that puts both a cap and a price on greenhouse gases are somewhere between terrible and nil. President Obama can start to prove the conventional wisdom wrong by making a full-throated case for a climate bill in his State of the Union speech this week. Washington has been forecasting the likely death of a climate bill with renewed certainty since Massachusetts elected a Republican senator who promised to block pretty much anything Mr. Obama wants. But even before then we were hearing two reasons why a bill could not pass: The Senate won’t have any strength left when it finishes with health care, and the nation cannot afford a bill that implies an increase in energy prices.
Environment and Wildlife
Michael Brune takes root at Sierra Club
published in: Politico on: 01/27/2010 by: Lisa Lerer
The country’s oldest and largest grass-roots environmental group is getting an infusion of new blood as the climate bill lingers on life support in Congress. The Sierra Club announced last week that it was replacing longtime Executive Director Carl Pope with Michael Brune, a 38-year-old environmental activist known for his confrontational style and tough negotiating tactics. Pope, who’s been with the club 37 years, will remain as executive chairman.
Ranchers, enviros brace for sage grouse ruling
published in: Idaho Statesman/The Times-News on: 01/26/2010 by: Matt Poppino
Mountain Home rancher Steve Damele is the kind of cattleman who doesn’t mince words when talking about threatened species on his land. But he only had one answer when asked if his property was habitat for the Greater sage grouse. “I’d rather not say,” he said. Such worries are commonplace as the federal government completes a lengthy review of whether to list the bird under the Endangered Species Act. The birds’ numbers have dropped for a decade, some believe to half its historic habitat. Southern Idaho is one region where numbers are on the decline.
Green machine’ recycles wastewater used in hydraulic drilling process for natural gas
published in: Environmental Leader on: 01/22/2010 by: Staff
The practice of hydraulic drilling – which has caused PR tremors for ExxonMobil and XTO Energy – contaminates close to 4 billion gallons of water during drilling per day industrywide, says HBC Systems. This practice, also known as fracturing or “fracking” to access gas shale deposits, drove HBC to develop an environmentally-friendly water reclamation process that uses osmosis technology to recycle wastewater in the oil and gas industry.
Technology, Alternative & Renewables
Wyoming group studies tying wind farms to grid
published in: Associated Press on: 01/26/2010 by: Matt Joyce
Transmission developers with plans to send Wyoming wind power to western states hungry for renewable energy are trying to figure out how to connect scattered wind farms with proposed export power lines. The Wyoming Infrastructure Authority formed the Wind Collector and Transmission Task Force last summer to develop a coordinated system for gathering power from dispersed wind farms.
Icy crystals heat up
published in: Houston Chronicle on: 01/23/2010 by: Brett Clanton
Vast deposits of methane, trapped in icelike crystals under Alaska’s frozen tundra and beneath ocean floors worldwide, could play an important role in the nation’s energy future. But after more than two decades of study, major oil companies and governments are still trying to crack the code to large-scale extraction of these energy rich substances called gas hydrates.
Request for Emissions Reduction Credits
If your company has emissions reduction credits for volatile organic compounds (VOCs) or nitrogen oxides (NOx) available to sell, please contact Jennifer Biever, Hogan & Hartson LP, 303-454-2410. Your company may be eligible to claim and sell emissions reduction credits if you voluntarily install controls on air pollution sources.
Markets
Pros Say: How to Make Money on Oil & Nat. Gas
published in: CNBC on: 01/26/2010 by: Staff
Rising inventories and China’s clampdown on credit-could conditions be turning bearish for the short-term in the oil markets? Tom Petrie, vice chairman at Bank of America Merrill Lynch, shared his views. Petrie said he expects the disconnect between natural gas and crude oil to continue.
Gazprom frets about surge in US gas production: report
published in: AFP on: 01/26/2010 by: Staff
Russian energy giant Gazprom is concerned about losing markets due to a surprise surge in US gas production driven by new extraction techniques, the Kommersant daily reported Tuesday. The state-controlled firm is reconsidering its strategy in light of the US “revolution” in shale gas extraction, Kommersant said, citing a company document due to be presented at a board meeting on Tuesday.
Industry News and Events
Many senior energy executives optimistic about 2010
published in: Houston Chronicle on: 01/27/2010 by: Sharon Hong
Despite the toll 2009′s tumultuous economic climate took on many oil and gas companies, more top industry executives are bullish in their outlook for 2010, according to Grant Thornton’s eighth annual Survey of Upstream U.S. Energy Companies. The survey of more than 100 senior executives of independent oil and gas companies found that half expect their companies to add jobs this year and 67 percent anticipate increases in domestic capital expenditures in 2010, up from 32 percent in 2009.
US sets up hotline for natgas drilling complaints
published in: Reuters on: 01/26/2010 by: Ayesha Rascoe
The U.S. Environmental Protection Agency has set up a hotline to address public concerns that water supplies may be endangered by a drilling practice used to extract natural gas from rock formations, the agency said on Tuesday. The use of hydraulic fracturing, or fracking, for shale gas production has drawn fire from environmentalists and neighbors of drilling operations who complain the method has contaminated well water and made people sick.
Energy 101: Hydraulic Fracturing
published in: Red State on: 01/23/2010 by: Vladimire
This week, several news stories converged on an odd topic: hydraulic fracturing. Fracking Schematic. Note: Vertical scale grossly underrepresents the depth of the producing formation. Hydraulic fracturing, or “fracking”, has been used since the 1950s to stimulate oil and gas wells. The process involves pumping a sand-laden slurry into a well and subjecting it to enough pressure that the rocks in the productive formation fracture, or break. The purpose of the sand is to prop open the fracture, so it stays in place. The carrying fluid can then flow back out of the well, along with oil and gas if it’s been a successful frac.
2010 Colorado Business Hall of Fame inducts Merle Chambers and James Wallace
February 4, 2010 at the Hyatt Convention Center (650 15th Street, Denver, CO)
Join Junior Achievement and the Denver Metro Chamber of Commerce will induct five new Laureates at Colorado’s premier business black-tie gala event, the 21st Annual Colorado Business Hall of Fame. Over the past 21 years more than 100 of Colorado’s more prominent business leaders have been inducted into the Hall of Fame and this year is no different as Hank Bosco, Merle Chambers, The Gart Brothers, Fred Hamilton and James Wallace join this group. Proceeds from the event support the programs of Junior Achievement and the Denver Metro Chamber of Commerce. A reception for the event begins at 6:00 p.m. with program to follow.
Tables for this event start at $2,750 with individual tickets for $275. For more information or to purchase tables contact Shawna Robbins, at Junior Achievement, at 303-260-6286 or srobbins@jacolorado.org.
For more information visit: http://www.jacolorado.org/content/view/78/90/
16th Annual Great Balls of Fire 9-Ball Billiards Challenge
February 16, 2009 in Denver, CO
The Great Balls of Fire 9-Ball Billiards Challenge is all about the goodness in people who want to make a difference in the lives of children and their families. Hosted by the Colorado Professional Firefighters, Denver Firefighters Local 858 and Wynkoop Brewing Company.
Several IPAMS members have chosen to sponsor this worthy charity event.
Click here to learn more and how to become a sponsor.
Colorado Energy Jobs Summit
February 19, 2010 at Anschutz Medical Campus, Aurora, CO
U.S. Senator Mark Udall, the Keystone Center, Third Way and the University of Colorado will host an Energy Jobs Summitt. Energy Secretary Steven Chu is confirmed to deliver the Keynote address for the summit. Official invitation with specific registration information coming shortly. Registration is based on limited seating; please make sure to register early.
