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Eagle Ford, Bakken production continues to drop

Eagle Ford, Bakken production continues to drop

Two of the nation’s most-prolific shale plays continue to see production numbers drop slightly. The Eagle Ford Shale and Bakken formation produced less oil in January than in December, according to analytics and consulting group Platts Bentek. In fact, oil production from both Eagle Ford and Bakken formations reached their lowest levels since Platts Bentek started tracking them in October ...

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Texas oil company shuts wells in New Mexico after spill

Texas oil company shuts wells in New Mexico after spill

SANTA FE, N.M. (AP) — A Texas oil driller has taken the first step toward cleaning up a spill at a waste-water injection well in southeastern New Mexico used by the oil and natural gas industry. Midland, Texas-based Siana Operations has filed for a remediation permit and is likely to join state officials this week in assessing damage to property ...

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US stocks fall early as energy, materials companies slide

US stocks fall early as energy, materials companies slide

NEW YORK (AP) — U.S. stocks skidded Tuesday morning as beleaguered energy and materials companies fell along with the price of oil and precious metals. The Bank of Japan cut its economic forecasts, which hurt stocks overseas, and the U.S. Commerce Department reported surprisingly weak retail sales. KEEPING SCORE: The Dow Jones industrial average declined 80 points, or 0.5 percent, ...

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Cargo ship leaks unknown amount of oil in LA Harbor

Cargo ship leaks unknown amount of oil in LA Harbor

LOS ANGELES (AP) — Cleanup efforts are under way after a large cargo ship leaked an unknown amount of oil in Los Angeles Harbor. The Coast Guard says the leak was reported Sunday evening, where an oily sheen was visible near the vessel Istra Ace. Officials didn’t immediately know Monday how much fuel entered the water. Los Angeles Fire Department ...

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Western Energy Alliance reacts to Obama’s announcement on methane emissions from existing wells

Western Energy Alliance, Barack Obama, existing, oil wells, natural gas

DENVER – Western Energy Alliance released the following statement on President Obama’s announcement today to impose methane reductions on existing oil and natural gas wells. “President Obama’s announcement of further punitive measures on the oil and natural gas industry, which has already voluntarily decreased methane emissions by 21 percent even as natural gas production has soured 47 percent, continues policies that are counterproductive to ...

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EIA forecasts short-term energy outlook

EIA forecasts short-term energy output

The U.S. Energy Information Administration released its short-term energy outlook Tuesday. The report forecasts oil and natural gas production for the next two years. North Sea Brent crude oil prices averaged $32 per barrel, a $1 increase from January prices. Brent crude prices are predicted to average $34 in 2016 and $40 in 2017. The forecast reflects higher –than-expected oil ...

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Oklahoma regulators release plan to reduce temblors

Oklahoma regulators release plan to reduce temblors

TULSA, Okla. (AP) — State regulators are asking oil and gas producers in central Oklahoma to restrict wastewater disposal operations to help temper a sharp increase in the number and severity of earthquakes. Monday’s request covers more than 400 wells across 5,200 square miles. It comes after a similar directive in February covering nearly 250 wells in northwestern Oklahoma. Scientists ...

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Kansas cuts higher education amid disappointing revenues

Kansas cuts higher education amid disappointing revenues

TOPEKA, Kan. (AP) — Republican Gov. Sam Brownback cut Kansas’ higher education spending Tuesday after the state’s tax collections fell $54 million short of expectations in February. The lower-than-anticipated revenues last month left the state facing a small deficit in its current budget, for the fiscal year ending June 30. The Department of Revenue’s report on monthly tax collections came ...

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Lawmakers: Delay permit for piping oil beneath St. Clair River

St. Clair River, Michigan, lawmakers, oil, piping

DETROIT (AP) — Two members of Congress want the Obama administration to put the brakes on a move to allow piping of crude oil beneath the St. Clair River through lines that are nearly a century old. Houston-based Plains LPG is applying to move the oil through two pipelines that run from Marysville, Michigan, to Canada. Because they cross an ...

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Anadarko cutting spending almost in half, selling assets

Anadarko cutting spending almost in half, selling assets

TRENTON, N.J. (AP) — Anadarko will sell more assets and reduce by nearly half its spending on oil and natural gas exploration this year. One of the world’s biggest independent oil and natural gas exploration and production companies, Anadarko said Tuesday it will cut capital expenditures this year to between $2.6 billion and $2.8 billion, from about $5.5 billion last ...

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