According to the U.S. Bureau of Labor Statistics, the employment of petroleum engineers is expected to grow 26% by 2022 compared to 2012, much faster than the national average or of other engineering jobs. There is a huge shortage of people in the oil and gas industry in the U.S., but Malaysia’s nationalized company, Petronas, has been building its own
Bellatrix Exploration Ltd. (ticker: BXE) is a Calgary-based E&P operating in the Western Canada Sedimentary Basin. The majority of operations are focused on the Cardium tight oil play in Alberta – an area that has boosted production rates tenfold since 2008. Horizontal drilling and hydraulic fracturing has revitalized the region and current estimates place recoverable reserves of the Cardium at
Reuters reported that both ExxonMobil Corporation (ticker: XOM) and Chevron Corporation (ticker: CVX) evacuated their staffs from Iraqi Kurdistan this morning. The employees of the oil giants join several thousand civilians attempting to escape violent Islamic State terrorists, also known as ISIS, who are now within a 30 minute drive of Abril, the Kurdish regional capitol. On June 13, Rupert
A number of oil train derailments and resulting fires over the past year in the U.S. and Canada spurred questions about the volatility risk of U.S. Bakken crude oil being shipped by rail from North Dakota to refineries throughout North America. The U.S. Department of Transportation has proposed new rules for tank car design and introduced revisions to train speed
Hein & Associates LLP, a leading accounting and advisory firm with $50.7 million net revenue, has been named to INSIDE Public Accounting’s (IPA) Top 100 List for 2014. “It is gratifying to again be listed in the IPA Top 100 for 2014,” said Brian Mandell-Rice, Managing Partner of Hein. “I attribute the success of our firm to the dedicated people who
Experts were predicting half way through 2013 that what was unthinkable just a year before might actually happen in 2013: the Marcellus gas production might reach 10 Bcf/day. The shale deposit that now accounts for almost 40% of U.S. shale gas production blew past that milestone and it has now achieved another milestone: natural gas production in the Marcellus region surpassed
Two initiatives targeting Colorado’s oil and gas industry are effectively dead as of yesterday, August 4, 2014. The announcement was a somewhat surprising end to a escalating issue spearheaded by two Democratic officials. Popular sentiment among local and national news outlets is the two sides reached a compromise to not only work through industry regulations in a diplomatic fashion, but
In part of its effort to “wage war on pollution,” as promised by Premier Li Kequiang, China’s shipyards will take upwards of $10 billion in orders for new LNG tankers this decade. Most of this demand is local, according to Choe Young-keun, an executive on the marketing planning team at South Korea’s Samsung Heavy, competitor in the drill ship, liquefied
Ethane, one of the natural gas liquids (NGLs), is a byproduct of natural gas production. Ethane is used as petrochemical feedstock and is key in making polyethylene—plastic. Ethane is also used in the production of products like antifreeze and detergents. Ethane prices in the U.S. have dropped with the abundance of gas coming out of the U.S. shale basins. The
Initiatives 88 and 89 have been officially withdrawn, Governor John Hickenlooper announced at the Colorado state capitol on August 4, 2014. Representative Jared Polis, the leader of the initiatives, reached a compromise with the governor earlier on the Aug. 4 deadline to submit signatures associated with the ballot measures. The initiatives had reportedly collected more than 200,000 signatures and Polis
This week PDC Energy (ticker: PDCE) announced the sale of its Marcellus shale assets for approximately $250 million to its Marcellus partner Mountaineer Keystone Energy, LLC. With the divesture of its approximate 131,000 net Marcellus acres, PDC’s focus now moves sharply onto two liquid rich plays—97,000 net acres in the Wattenberg Field in Colorado and 67,000 net acres in the
Whiting Petroleum (ticker: WLL) is set to become the largest E&P in the Williston Formation once its $6 billion acquisition of Kodiak Oil & Gas (ticker: KOG) is finalized before the end of fiscal 2014. Management teams on both sides limited comments on the acquisition in their respective Q2’14 conference calls, considering the transaction is not yet complete. KOG spent
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