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Low oil prices hurting some US shale operations; slumping oil prices putting pressure on drillers

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The number of active rigs drilling for oil and gas fell by their most in two months, according to the latest data from oil services firm Baker Hughes. There were 19 oil rigs that were removed from operation as of Oct. There are now 1,590 active oil rigs, the lowest level in six weeks.

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Chevron sanctions $4B Big Foot Project in the deepwater Gulf of Mexico

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Big Foot will be Chevron’s sixth operated facility in the deepwater Gulf of Mexico and located approximately 225 miles (360 km) south of New Orleans, Louisiana, in water depths of 5,200 feet (1,600 m). First oil is anticipated in 2014. Chevron, through its subsidiary Chevron USA Inc.,

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CU-Boulder technique finds major class of fracking chemicals no more toxic than common household substances; “fingerprinting”

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Fracking fluid is largely composed of water and sand, but oil and gas companies also add a variety of other chemicals, including anti-bacterial agents, corrosion inhibitors and surfactants. Surfactants reduce the surface tension between water and oil, allowing for more oil to be extracted from porous rock underground.

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NRC report concludes hydraulic fracturing poses low risk for causing earthquakes, but risks are higher for wastewater injection wells; CCS impact undetermined

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Schematic diagram of a shale gas well following hydraulic fracture treatment, with the relative depths of local water wells shown for scale. Hydraulic fracturing (“fracking”) extracts natural gas by injecting a mixture of water, sand, and chemicals in short bursts at high pressure into deep underground wells.

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Enterprise Products and Energy Transfer to form JV for crude oil pipeline from Cushing to Houston

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have agreed to form a 50/50 joint venture to design and construct a crude oil pipeline from Cushing, Oklahoma to Houston, Texas. These supplies are accumulating in Cushing, which lacks southbound pipeline capacity to the largest US crude oil market on the Gulf Coast with more than two million barrels per day of refining capacity.

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