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Halliburton Buys Out Baker Hughes

Falling oil prices have resulted in Halliburton buying out rival oilfield services company Baker Hughes for $34.6 billion.  Global oil prices have fallen 31% in the past five months to the lowest in four years.  Capital costs and the increased ...

Baker Hughes Board of Directors Forced Out

In a prelude to the buyout, Baker Hughes announced that Halliburton informed the company that all Baker Hughes board members would be replaced with Halliburton nominees at the April 15, 2015 board of directors meeting. Baker Hughes said the move ...

Outdated Crude Export Ban

Outdated export regulations for crude oil dating to the Reagan administration of the 1980's allow the U.S. to ship crude to Canadian refineries, but not where it would be more sense to Europe or Latin America. At the same time ...

Impact of Native American Politics on North Dakota Oil Production

The Three Affiliated Tribes of Mandan, Hidatsa and Arikara (MHA) Nation control roughly a third of North Dakota's oil output, up 145% in the past two years. Two MHA reformers, Damon Williams, the tribal attorney, and Mark Fox, the tax ...

ROZ Proven Success in the Permian Basin

Residual Oil Zones as targets for tertiary oil recovery in the Permian Basin of West Texas make CO2 flooding a technical and economic viable option for increased oil recovery in previously undeveloped zones.  Steve Melzer says in an Oil & Gas ...

The Drop in Oil Prices Concerns OPEC Nations

Venezuela and Ecuador will propose that oil prices should be defended when OPEC meets on November 27 to discuss policy. The drop in crude prices began in October and is severely impacting the economy of the South American OPEC members.

Can the U.S. overtake Saudi as No. 1 Oil producer?

Hydraulic fracturing America's oil shales ”could open the way for the U.S. to overtake Saudi Arabia as the world's number one oil producer," according to Platts' annual report. The U.S. Energy Information Administration predicts U. S. shale oil production will ...

10 Years to Energy Independence

Consulting group Wood Mackenzie now predicts that the U.S. growing shale play output and increased energy efficiency will lead to energy independence by 2015.  The last time the U.S. exported more energy than it imported was in 1952. In the ...

Senate Bill 1310 - Victory for Pennsylvania Small Producers

The Pennsylvania Senate Bill 1310, approved on October 8 and headed to the House, is victory for the state's small producers burdened by regulations and low profits.  Senator Scott Hutchinson says the bill is to "empower" smaller, conventional oil and ...

Saudi Cuts the Price of Oil in Response to U.S. Production

In early October Saudi Arabia cut the price of oil it sells to the world market, bringing the international price to below $90. Saudi Arabia feels threatened by the huge surplus of oil produced in the U.S. even though very ...