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IADD News

 See Anadarko's Steve Bosworth's Chairman's message.

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 Cathedral Energy Services is a trusted partner to North American energy companies requiring high performance directional drilling services and dependable flowback and production testing services. Since 1998, Cathedral has worked in collaboration with our customers to tailor our equipment and expertise to meet their specific geographical and technical needs resulting in accurate wellbore placement, enhanced drilling efficiencies and lower project costs.

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 The US Environmental Protection Agency (EPA) has released a draft assessment of the potential impacts of fracking on drinking water.
The research, commissioned by Congress, has shown that fracking in the US has not led to any “widespread” or “systemic” impacts on drinking water resources, but warned that there are “potential vulnerabilities” in the water cycle that could, if not properly managed, impact on drinking water.

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 Ohio’s shale industry is continuing to grow and production reached an all-time high, despite a curb in growth and prolonged lower prices, according to data from the Ohio Department of Natural Resources.

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 Crude oil declined the most in a week as energy ministers and officials gathered in Vienna to assess supply and demand before OPEC decides on production limits on June 5.

Brent fell as much as 2.7 percent to $63.74 a barrel, while U.S. West Texas Intermediate retreated 2.6 percent as of 11:34 a.m. in London. OPEC’s planned meeting to discuss output limits will finish quickly and without a cut in the collective target, Al-Hayat, a London-based Saudi newspaper, reported Wednesday, citing an OPEC official it didn’t identify. Iran’s oil minister told reporters at the gathering Wednesday that he’s delivering a letter to OPEC members, telling them to make room for an increase in the nation’s production.

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 Canada’s National Energy Board (NEB) and Northwest Territories Geological Survey (NTGS) have released the results of a joint assessment of the shale oil resources in place in the Bluefish and Canol shale fields.

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 Oklahoma has become the latest state to rule out local municipalities from introducing their own fracking restrictions, after the state governor Mary Fallin signed a senate bill into law.

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 HOUSTON — Enterprise Products Partners said Monday it will fill out its Eagle Ford natural gas and condensate operations with a $2 billion midstream purchase from Pioneer Natural Resources and Reliance Industries Ltd.

The deal will shift about 460 miles of natural gas gathering pipe, 10 central gathering plants and 780 million cubic feet of treatment capacity from EFS Midstream, a joint venture owned by the two producers, to Houston-based Enterprise.

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 HOUSTON — Pumping a barrel of oil out of the Eagle Ford Shale could get $10 to $15 cheaper by summer 2016 as service companies cut costs and operators tune up their wells, analysts say.

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 IVAN MARTEN: The low-oil-price environment that has prevailed in recent months has presented significant short-term challenges, including squeezed margins and collapsing activity levels, to producers of U.S. shale oil. We believe, however, that an extended period of low oil prices might actually help reset the industry, in terms of the characteristics and pace of its growth, for the better and place it on a more sustainable development path for the medium term. We see four reasons to believe that this could be the case.

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