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New USGS oil and gas assessment for Bakken and Three Forks formations boosts estimates of recoverable oil two-fold, natural gas three-fold

Green Car Congress

The United States Geological Survey (USGS) released an updated oil and gas resource assessment for the Bakken Formation and a new assessment for the Three Forks Formation in North Dakota, South Dakota and Montana, resulting in a two-fold increase in the estimated technically recoverable oil, and a three-fold increase in estimated natural gas.

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Petrobras’ June oil production in Brazil up 1.7% exceeding 2M bpd; gas production reaches record

Green Car Congress

Petrobras’s June oil production in Brazil averaged 2,008 thousand barrels/day (bpd), up 1.7% The company’s oil and natural gas production in Brazil in the same month was 2,426 thousand barrels of oil equivalent per day (boed), indicating a 1.6% June’s natural gas production of 66.4 million m 3.

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Utah Water Quality Board upholds issuance of permit for oil sands mine in Utah

Green Car Congress

The Utah Water Quality Board, in a 9-2 vote this week, agreed with the August 2012 recommendations of an administrative law judge (ALJ) upholding a permit-by-rule issued by the Division of Water Quality (DWQ) for the proposed PR Spring an oil sands mine on state land in eastern Utah. Source: USOS, DWQ. Click to enlarge.

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DOI: latest Gulf of Mexico oil & gas lease sales garner $872M in high bids

Green Car Congress

Secretary of the Interior Sally Jewell announced that the latest oil and gas lease sales for federal waters in the Gulf of Mexico garnered $872,143,771 million in high bids on 329 tracts covering 1,707,358 acres. The area will be offered to industry again in 2016 under the current Five Year Offshore Oil and Gas Leasing Program.

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ExxonMobil announces 6th oil discovery offshore Guyana with Ranger-1; Guyana may move from non-producer to regional powerhouse

Oil (..)

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Obama Administration to offer 40 million acres in the Gulf of Mexico for oil and gas development

Green Car Congress

Beaudreau announced that Interior will offer more than 40 million acres for oil and gas exploration and development in the Gulf of Mexico in March lease sales. BOEM estimates the proposed sale could result in the production of approximately 1 billion barrels of oil and 4 trillion cubic feet of natural gas.

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Shell sets world record for deepest subsea oil and gas well in Perdido Development: 9,627 feet in Gulf of Mexico

Green Car Congress

Shell Oil Company is now producing oil from what it says is the world’s deepest subsea well at its Perdido Development. miles) below the water’s surface, is located in the Tobago Field 200 miles southwest of Houston in the ultra-deep water of the Gulf of Mexico. Perdido produced its first oil and gas on 31 March 2010.

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