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Exclusives

Gas impact fee is on a steady decline

According to an analysis released by Pennsylvania’s Independent Fiscal Office (IFO), the state’s gas impact fee on Marcellus Shale drillers is on a steady decline. In a brief released on Thursday, the IFO discovered that the effective tax rate on natural gas drillers has been decreasing for the last four years, going from 5.3 percent in 2011 to 2.1 percent ...

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2014 was a record year for Texas exports

Petroleum and coal products were the highest contributor to a record setting year for exported goods in Texas in 2014, according to the Houston Business Journal. Petroleum and coal accounted for $59.1 billion of the record setting $289 billion in 2014. Among other contributors are computer and electronic products with $46.6 billion and chemicals at $46.1 billion, according to the ...

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Coke-making operations closing down in Gary

United States Steel Corp. announced to the United Steelworkers Union its plans to officially close down the coke-making operations at its Gary Works Facility in Gary, Indiana. Spokesperson Sarah Cassella said the closure is planned to happen on or after May 13th and will affect 300 employees.  Cassella explained how the closure is a strategic decision based upon the current ...

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Marathon reports increased production, profits in the Bakken and Eagle Ford

Marathon Oil Corp. (NYSE: MRO) reports that its production from its U.S. operations increased by 35 percent overall with an average net production of 181,000 barrels of oil equivalent per day (boe/d). Production in the Bakken shale play grew by 31 percent and production in the Eagle Ford increased by 38 percent. The production increase in the Bakken formation is ...

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Hercules takes another hit in oil glut

The global oil glut has hit Hercules Offshore, Inc. hard, but circumstances seem unwilling to relent for the company. Hercules announced today that Saudi Aramco is terminating its drilling contract for the Hercules 261 effective March 27, 2015. Discussions between Hercules Offshore and Saudi Aramco were already underway regarding Hercules 262 and Hercules 266. The two companies were discussing the ...

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Texas lawmakers take shots at international sustainability agenda

Two conservative Texas lawmakers are taking up a fight against an international sustainability plan by proposing two bills that would ban the state from funding any programs aligned with the United Nations development agreement. Agenda 21 is a non-binding and voluntary sustainability development plan. The agenda was signed by 179 countries, including the United States, in 1992. It encourages statehoods ...

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Carrizo announces business outcome for 2014

Earlier this month, Carrizo Oil and Gas, Inc. reported record fourth-quarter and end-of-year results for 2014: oil production rose 70 percent from 2013 at 22,130 barrels per day, oil revenue shot up 28 percent to $140.9 million, and total revenue saw a 26 percent growth from 2013, totaling $163.3 million. The company currently operates a single well in the Niobrara ...

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Utica well activity

Operations in the Utica are still going strong as oil and gas production for the state of Ohio has blown last year’s numbers out of the water, all thanks to the boom in well development. According to the Ohio Department of Natural Resources, in the span of a single year oil production has more than doubled and natural gas production ...

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Pipeline is ahead of schedule

Cone Midstream Partners LP’s natural gas pipeline has surpassed its goals several months ahead of schedule. Today, the company formed by the joint venture of Consol Energy Inc. and Noble Energy announced that it has recently passed benchmarks in production and financial performance that it had planned for in its IPO prospectus.  Cone Midstream GP LLC CEO John T. Lewis ...

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Pittsburgh facility is shutting down

Germany-based Drager, a company that supplies the oil and gas industry with safety equipment, has plans to close down its’ Pittsburgh facility by summer of 2016. Drager Safety Inc., located at 101 Technology Drive in Pittsburgh, will be closed for good in July 2016. According to Drager’s announcement, the closing is part of the company’s plan to realign its operations ...

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