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Trang 14 NEWSLETTER 10 LETTERS / CALENDAR 12 JOURNALLY SPEAKING 14 EDITORIAL 24 EQUIPMENT
Dec 27, 2010 | Volume 108.49International Petroleum News and Technology | www.ogj.com
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as ExxonMobil, Shell resume operations
Eric Watkins
in Ecuador lawsuit
Eric Watkins
Pipeline diplomacy in Asia
pipeline safety awareness
Nick Snow
Pipeline accidents in Michigan and San Bruno,
Calif., raised public awareness about pipeline
safety issues that companies and regulators
already were trying to address
to recover costs from
Macondo blowout, spill
Nick Snow
The US Department of Justice and
Environmental Protection Agency jointly sued
to recover damages from the Apr 20 Macondo
well accident, which claimed 11 lives, and
subsequent crude oil spill into the Gulf of
Mexico
EPA’s GHG regulation
Nick Snow
expand refining capacities
Bromwich isn’t done
GENERAL INTEREST
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Dec 27, 2010
GENERAL INTEREST Q U IC K TA K E S
Producers to see strong cash flows in 2011
North American oil and gas producers can expect another year
of “robust” cash flows supported by strong oil prices, stable
though depressed gas prices, and modestly improving
econom-ic conditions, according to Fitch Ratings
The discount of the gas price to the energy-equivalent price
of oil will continue, the crediting-rating service said in an
an-nual outlook
“Few indicators point to a resurgence in natural gas
pric-ing, which would likely require a sustained improvement in
demand combined with an industry-wide reduction in natural
gas-focused drilling,” the firm said “While Fitch would
antici-pate drilling to maintain leases will begin to slow in 2011,
cur-rent natural gas rig counts far exceed the level required to only
maintain existing supply levels.”
Other Fitch expectations for 2011:
• High merger and acquisition activity
• Strong liquidity for companies focused on oil
• The possible need for small gas-focused producers to
re-determine their borrowing bases
• Rising costs
• Regulatory uncertainty related to the Gulf of Mexico and
to shale drilling
• Increased share repurchases and dividends for integrated
and large producers
Fitch’s base price assumptions for 2011 are $75/bbl for West
Texas Intermediate crude and $4/Mcf for Henry Hub gas Its
2012 price projections are $65/bbl for oil and $4.50/Mcf for gas
Its long-term price assumptions are $60/bbl and $5.50/Mcf
The firm said it raised its oil price assumption modestly to
reflect concerns about inflation after the recent monetary
eas-ing by the US Federal Reserve Strong demand in China and
India also is supporting the crude price
Fitch lowered its gas price outlook because of concerns
about oversupply and cost-structure improvements related to
efficiency gains in most new US shale plays
A threat to creditworthiness of the US producing
indus-try—not part of Fitch’s base-case outlook—is a “significant
double-dip recession” and consequent reduction in oil demand
by China and India
Cabot, DEP reach accord for Dimock area
Cabot Oil & Gas Corp agreed to pay $4.1 million in a ment with Pennsylvania’s Department of Environmental Pro-tection that will allow the Houston independent producer to resume Susquehanna County well completion operations in early 2011
settle-The Dec 15 agreement and consent order superseded vious orders and modifications It set out specific obligations related to claims by 19 households in the area, including the establishment of escrow accounts for the households
pre-Cabot also agreed to pay the Pennsylvania DEP $500,000
to offset the state’s expense of investigating stray gas migration complaints in the area for 2 years, DEP said
DEP Secretary John Hanger said each householder will receive twice the value of his or her home, with a minimum
$50,000 payment Cabot also said it would install mitigation devices in each house, he said
“In addition to the significant monetary component of this settlement, there is a requirement that Cabot continue to work with us to ensure that none of their wells allow gas to migrate,” said Hanger DEP also is dropping its plan to construct a 5.5-mile pipeline from the Lake Montrose water treatment plant to the residences after the proposed project encountered signifi-cant opposition from local governments and from Cabot, which DEP planned to bill for the project
“This agreement provides a reasonable and pragmatic way forward for all parties,” said Dan O Dinges, Cabot’s chairman, chief executive, and president “The common ground we found
to settle provides the right balance of regulations, financial payments, timely execution, and operational safeguards that in the end will protect the resources of Pennsylvania.”
Dinges said Cabot’s well completion operations in the mock-Carter Road area would resume during the first quarter
Di-2011, and new drilling could begin during the second quarter 2011
BOEMRE issues additional drilling guidance
The US Bureau of Ocean Energy Management, Regulation, and Enforcement (BOEMRE) issued additional deepwater drill-ing guidance The information contained no new regulatory requirements, but was designed to assist offshore oil and gas producers in complying with recently issued rules, the US De-
Trang 6Dec 15 Dec 16 Dec 17 Dec 20 Dec 21 1
Dec 15 Dec 16 Dec 17 Dec 20 Dec 21 1
Dec 15 Dec 16 Dec 17 Dec 20 Dec 21 1
Dec 15 Dec 16 Dec 17 Dec 20 Dec 21 1
Dec 15 Dec 16 Dec 17 Dec 20 Dec 21 1
Dec 15 Dec 16 Dec 17 Dec 20 Dec 21 1
WTI CUSHING / BRENT SPOT
NYMEX NATURAL GAS / SPOT GAS - HENRY HUB
IPE GAS OIL / NYMEX HEATING OIL
NYMEX GASOLINE (RBOB)2/ NY SPOT GASOLINE3
IPE BRENT NYMEX LIGHT SWEET CRUDE
PROPANE - MT BELVIEU /BUTANE - MT BELVIEU
1 Not available 2 Reformulated gasoline blendstock for oxygen blending
3 Nonoxygenated regular unleaded
Jan 10 Feb 10 Dec 09 Sept 10 Oct 10 Nov 10 Nov 09 Mar 10 Apr 10 May 10 Jun 10 Jul 10 Aug 10
1,000 800
1,400 1,600 1,800 1,200
400 200 0
BAKER HUGHES INTERNATIONAL RIG COUNT: TOTAL WORLD / TOTAL ONSHORE / TOTAL OFFSHORE
3,900 3,600 3,300 3,000 2,700 2,400 2,100 1,800 1,500 300 0
3,233 2,891
342
Note: End of week average count
BAKER HUGHES RIG COUNT: US / CANADA
Note: Monthly average count
500
12/11/09 11/20/09 12/4/09 12/18/09 10/9/09 10/23/09 11/6/09
10/2/09
1,709
10/1/10 10/15/10 10/29/10 11/13/09 11/27/09 11/12/10 11/26/10 12/10/10
11/19/10 12/3/10 12/17/10 10/8/10 10/22/10 11/5/10
368 1,193
10/16/09 10/30/09
US INDUSTRY SCOREBOARD — 12/27
Motor gasoline 9,054 9,003 0.6 9,102 9,063 0.4 Distillate 3,727 3,588 3.9 3,765 3,608 4.4
Other products 4,638 4,167 11.3 4,470 4,236 5.5 TOTAL PRODUCT SUPPLIED 19,365 18,766 3.2 19,234 18,849 2.0
Supply, 1,000 b/d
Crude production 5,581 5,514 1.2 5,494 5,310 3.5 NGL production 2 2,022 2,058 –1.7 2,028 2,048 –1.0 Crude imports 8,553 8,315 2.9 9,140 9,163 –0.3 Product imports 2,404 2,767 –13.1 2,561 2,762 –7.3 Other supply 2, 3 2,020 1,666 21.2 1,886 1,732 8.9 TOTAL SUPPLY 20,580 20,320 1.3 21,109 21,015 0.4
Motor gasoline 23.7 23.9 –0.8 24.1 –1.7
Light sweet crude ($/bbl) 88.25 88.50 –0.25 71.53 16.72 23.4 Natural gas, $/MMbtu 4.20 4.47 –0.27 5.09 –0.89 –17.5
1 Based on revised figures 2 OGJ estimates 3 Includes other liquids, refinery processing gain, and unaccounted for crude oil 4 Stocks divided by average daily product supplied for the prior 4 weeks 5 Weekly average of daily closing futures prices.
Source: Energy Information Administration, Wall Street Journal
Trang 7Oil & Gas Journal | Dec 27, 2010 7
partment of the Interior agency said
“As we continue to strengthen oversight and safety and
en-vironmental protections, we must ensure that the oil and gas
industry has clear direction on what is expected,” BOEMRE
Di-rector Michael R Bromwich said on Dec 13
BOEMRE said that the issues addressed in the information
document include compliance issues relating to the Drilling
Safety Rule (or Interim Final Rule), NTL-6 (including Worst
Case Discharge calculations), and NTL-10, as well as further
in-formation on BOEMRE’s inspections of blowout preventer
test-ing, oil spill response plans, and environmental assessments for
deepwater drilling plans
BOEMRE develops programmatic EIS
The US Bureau of Ocean Energy Management, Regulation, and
Enforcement has begun work to develop the first geological and
geophysical programmatic environmental impact statement for
areas of the US Outer Continental Shelf off the South and
Mid-Atlantic coasts
It said that the PEIS would evaluate environmental effects of
seismic surveys and other G&G activities to gather information
about potential oil, gas, and renewable energy development on
the OCS
US Interior Secretary Ken Salazar said seismic surveys along
the South and Mid-Atlantic coasts possibly could take place He
removed the area from the 5-year OCS program that BOEMRE
is developing for the 2012-17 period in response to questions
arising from the Apr 20 Macondo well blowout BP PLC
oper-ated Macondo
The blowout resulted in an explosion and fire on Transocean
Ltd.’s Deepwater Horizon semisubmersible and a Gulf of
Mex-ico crude oil spill
Industry sources have expressed skepticism to OGJ that any
such seismic studies will occur because producers customarily
don’t pay for them without firm assurances that they will lead
to development of identified resources, and Congress probably
would not authorize what would be new funding in a climate
emphasizing cutting costs and reducing the federal budget
defi-cit
East Kalimantan find exceeds 1.4 tcf of gas
Three wells drilled off Indonesia’s East Kalimantan confirm
more than 1.4 tcf of gas in place in Jangkrik field on the Muara
Bakau permit, said operator Eni SPA
Jangkrik-3, in 416 m of water 70 km off eastern Borneo, went
to 2,849 m and encountered more than 60 m of net gas pay in
excellent quality reservoir Pliocene sands Further exploration
is planned nearby in 2011, Eni said
Permit interests are Eni 55% and GDF Suez 45% The joint
venture is studying fast-track development through the
Bon-tang LNG plant, where Eni owns spare capacity
Eni operates six of the 12 permits in which it has working
interests in East Kalimantan Coalbed methane from the newly awarded Sanga Sanga CBM production sharing contract, if suc-cessful, could be liquefied at Bontang That VICO CBM Ltd joint venture is operated by Eni 50%, and BP PLC owns the other 50%
Low-volume New York Marcellus fracs tap gas
Montreal independent Gastem obtained gas flows from Utica shale and two members of the Marcellus shale using permitted low-volume frac jobs in a vertical well in Otsego County, NY
Gastem ran separate fracs on the Chittenango and Union Springs members of Marcellus at the Ross-1 well Both suc-ceeded, and the company completed the well for 200 Mcfd of gas Current flow is 150 Mcfd after 4 weeks of flow BJ Services ran the fracs
Gastem also put a frac on Utica in November 2009 and tested that interval at more than 100 Mcfd The frac involved
a fluid volume under the state’s existing Supplemental Generic Environmental Impact Statement guidelines with a maximum volume of 80,000 gal
The company said, “The combined economics of the tilayer targets (Utica, Oneida, and Marcellus) will provide de-velopment opportunities until the NYSDEC (Department of Environmental Conservation) completes their review process for horizontal shale wells now scheduled for release on June 1, 2011.”
mul-Gastem is completing a seismic program on existing leased property and plans to initiate development wells targeting “lo-cal gas for local use” in the area by mid-2011 Gastem is opera-tor with 80% working interest in 33,000 acres
Eni to operate Poland Baltic basin shale blocks
Italy’s Eni SPA said it plans to start drilling for shale gas in the Baltic basin in northeastern Poland in 2011
The company will purchase Minsk Energy Resources and become operator of three licenses totaling 1,967 sq km The exploration commitment is for six wells
Eni will apply knowledge and expertise acquired through its North Texas Barnett shale joint venture Poland is Eni’s first venture into unconventional gas in Europe
DRILLING & PRODUCTION Q U IC K TA K E S
Chevron to spend $4 billion on Big Foot field
Chevron Corp plans to spend $4 billion to develop Big Foot oil and gas field in the deepwater Gulf of Mexico
Big Foot field lies in 5,200 ft of water about 225 miles south
of New Orleans Discovered in 2006, Chevron estimates Big Foot field contains more than 200 million boe of total reserves.Chevron plans to use an extended tension-leg platform with
an onboard drilling rig and production capacity of 75,000 b/d
of oil and 25 MMcfd of natural gas
Oil production is scheduled to start in 2014 Primary pay sands are Middle to Upper Miocene Three exploration and ap-
Trang 88 Oil & Gas Journal | Dec 27, 2010
praisal wells with multiple sidetracks have been drilled
Chevron USA Inc has a 60% working interest in the Big
Foot project
Mobile nitrogen rejection unit takes the field
EQT Corp., Pittsburgh, has placed in service the world’s first
mobile nitrogen rejection unit for nitrogen frac flowback at a
Devonian Huron shale well in eastern Kentucky
Developed by private IACX Energy, Dallas, the unit covers
158 ft by 38 ft on five trailers at the wellsite and employs
nitro-gen sponge technology
In eastern Kentucky, the lower-pressured Huron shale has
responded especially well to nitrogen fracturing treatment, but
large volumes must be flowed back and vented until the
hydro-carbon gas reaches pipeline quality The clean-up period can
last as long as 2 months, depending on reservoir quality
Nitrogen frac flow-back applications are especially
challeng-ing because of the ever-changchalleng-ing composition of the gas
enter-ing the system After a nitrogen frac, the percentage of nitrogen
in the gross gas stream follows a steep gradient downward until
most or all of the injected nitrogen is blown back
The mobile iron sponge units yield 99+% recoveries of C3+
hydrocarbons, which contributes significantly to project
eco-nomics where natural gas liquids are extracted and sold All of
the unit’s processes function at lower volumes and pressures
and do not utilize chemicals or other environmentally
undesir-able materials, IACX noted
Saudi Aramco to boost Shaybah production
Saudi Aramco let contracts worth nearly $500 million to GE
Energy for equipment to expand Shaybah field’s oil production
and natural gas-processing capacities
The expansion is expected to boost crude oil production
ca-pacity to 1 million b/d compared with Shaybah’s current
capac-ity of 750,000 b/d
Shaybah, in southeastern Saudi Arabia, has undergone
vari-ous expansions An upgrade completed in June 2009 boosted
its crude capacity from 500,000 b/d to its current capacity
Aramco also is working to boost its natural gas capacity at
Shaybah by building an NGL plant to process 2.4 bscfd of
low-sulfur, sweet gas and extract 264,000 b/d of NGLs
GE agreed to supply 11 gas turbine-generators, 44
compres-sors, and motors With the latest contracts, GE has supplied a
total of more than 110 GE gas turbines to Saudi Aramco and
nearly 100 GE centrifugal compressors
PROCESSING Q U IC K TA K E S
Enterprise, Chesapeake outline Eagle Ford plans
Enterprise Products Partners LP has entered into 10-year
agree-ments to handle a substantial portion of Chesapeake Energy
Corp.’s liquids-rich natural gas production in the Eagle Ford
shale
Chesapeake’s gross acreage position currently includes more
than 625,000 acres in and around the oil and NGL-rich areas
of the Eagle Ford shale in the South Texas counties of Dimmit, LaSalle, McMullen, Webb, and Zavala
The agreements provide Chesapeake with firm ments for gas transportation, processing, and NGL transporta-tion and fractionation services
commit-Chesapeake’s natural gas initially will be gathered, pressed, and moved by Chesapeake Midstream Development LLC for eventual transportation and processing by Enterprise
com-at its existing facilities while a previously announced ncom-atural gas processing plant in Texas is completed
Enterprise expects the new cryogenic processing facility to
be completed early in 2012, at an initial processing capacity of
600 MMcfd and an initial NGL extraction capacity of 75,000 b/d The NGL production from Chesapeake’s gas ultimately will
be transported from this processing plant to Enterprise’s ously announced 127-mile NGL pipeline, extending to its NGL fractionation complex in Mont Belvieu, Tex
previ-Earlier this month, Enterprise began operations at its fourth NGL fractionator at Mont Belvieu at 75,000 b/d, increasing nameplate capacity at the facility to 305,000 b/d (OGJ Online, Dec 1, 2010)
The new NGL pipeline, scheduled for completion in early
2012, will have an initial capacity of more than 85,000 b/d and would be readily expandable to over 120,000 b/d, according to Enterprise
Activity in the Eagle Ford Shale continues to increase as 115 rigs working in the play have drilled more than 330 wells com-pleted to date, Enterprise says Enterprise estimated total cur-rent production from the play at about 425 MMcfd natural gas and 35,000 b/d crude oil and condensate
Oneok to invest in Woodford shale
Oneok Partners LP plans to invest $180-240 million by half 2012 for NGL projects in the Cana-Woodford shale and Granite Wash plays The projects will add 75,000-80,000 b/d
first-of raw, unfractionated NGL to the partnership’s existing ing systems Oneok’s investment includes:
gather-• Building more than 230 miles of 10-in and 12-in OD NGL pipelines that will expand the partnership’s existing gath-ering system by connecting to three new third-party natural gas processing facilities being constructed with total capacity
of 510 MMcfd and to three existing third-party natural gas cessing facilities undergoing expansion
pro-• Installing additional pump stations on the Arbuckle line to increase capacity to 240,000 b/d Arbuckle is a 440-mile NGL pipeline running from southern Oklahoma through the Barnett shale of north Texas to the partnership’s fractionation and storage facilities at Mont Belvieu on the Texas Gulf Coast
Pipe-Oneok expects these projects to be completed during half 2012 The additional raw NGLs from the expanded natural gas processing capacity will be fractionated at either the part-nership’s fractionation facilities or by third parties
first-Oneok already announced $1.3-1.6 billion in other projects
Trang 9Oil & Gas Journal | Dec 27, 2010 9
in 2010, including:
• Construction of two 100 MMcfd natural gas processing
facilities in the Bakken shale and related infrastructure
• Construction of a 525- to 615-mile NGL pipeline to
trans-port unfractionated NGL produced in the Bakken to the
Over-land Pass Pipeline, a 760-mile NGL pipeline extending from
southwestern Wyoming to Conway, Kan
• Related capacity expansions for Oneok Partners’ 50%
in-terest in the Overland Pass Pipeline to transport the additional
unfractionated NGL volumes from the new Bakken pipeline
• Expansion of the partnership’s fractionation capacity at
Bushton, Kan., by 60,000 b/d to accommodate the additional
NGL volumes from Overland Pass Pipeline
• Installation of seven additional pump stations along the
existing Sterling I NGL distribution pipeline, increasing its
ca-pacity by 15,000 b/d
• Other investments in the Woodford shale in Oklahoma,
in both the natural gas gathering and processing and the
natu-ral gas liquids segments
Qatar Petroleum, Shell to develop petchem project
Qatar Petroleum and Shell have signed a memorandum of
un-derstanding to study development of a large petrochemicals
complex in Ras Laffan Industrial City, Qatar
The agreement was signed Dec 21 in Doha by Abdulla bin
Hamad Al-Attiyah, deputy prime minister and minister of
en-ergy and industry for Qatar, and Shell CEO Peter Voser
Under consideration is a monoethylene glycol plant of up
to 1.5 million tonnes/year using Shell’s proprietary OMEGA
(Only MEG Advantaged) technology and other olefin
deriva-tives to yield more than 2 million tpy of finished products
In Qatar, Qatar Petroleum and Shell are jointly building the
Pearl gas-to-liquids project and Qatargas LNG Train 4 in Ras
Laffan
TRANSPORTATION Q U IC K TA K E S
NEB approves Mackenzie Gas Project
Canada’s National Energy Board approved applications for
the construction and operation of the Mackenzie Gas Project
through northern Canada
The proposed project includes the 1,196-km Mackenzie
Val-ley Pipeline, three onshore natural gas fields, a 457-km pipeline
to carry natural gas liquids from Inuvik, NWT, to an existing
oil pipeline at Norman Wells, NWT, and other related facilities
The Mackenzie Valley Pipeline, which would run from the
Beaufort Sea to northwestern Alberta, is designed to carry up
to 1.2 bcfd
The NEB attached 264 conditions to the project’s approval in
areas including engineering and safety provisions that must be
met if the project is to be built If the federal cabinet approves
NEB’s decision, the agency will issue appropriate approvals,
in-cluding a certificate of public convenience and necessity
Project operator Imperial Oil’s latest cost estimate, released
in 2007, pegged the project at $16 billion
In addition to Imperial, the Mackenzie Valley Aboriginal Pipeline LP, ConocoPhillips Canada (North) Ltd., Shell Canada Ltd., and ExxonMobil Canada Properties hold shares in the project If the proponents decide to build the Mackenzie Gas Project, they would also be required to obtain various permits and authorizations from other boards and government agencies before construction could commence
Imperial filed a letter with the NEB in March stating it would not decide whether to proceed with the project until late
2013, citing administrative delays in the approval process and subsequent difficulties keeping the project adequately staffed
Koch Pipeline shareholders approve Eagle Ford line
Koch Pipeline Co LP received final shareholder approval to build a pipeline into Karnes County, Tex., that will transport 120,000 b/d of Eagle Ford shale crude by late 2012 Engineering for the line to connect Eagle Ford producers to Corpus Christi, Tex., has begun, with construction pending permitting
The 16-in OD line will be expandable to more than 200,000 b/d and includes direct pipeline connections to producer tank batteries in Karnes and DeWitt counties A new station, likely near Helena, Tex., will connect into Koch Pipeline’s existing crude system in Pettus and Refugio
By yearend 2011, Koch plans to have completed several projects adding more than 140,000 b/d of pipeline capacity in South Texas
The company is already building a line to expand delivery capability to Flint Hills Resources’ Ingleside waterborne termi-nal It has also leased 30,000 b/d capacity from NuStar Logis-tics on a line from Pettus to Corpus Christi (OGJ Online, Oct
19, 2010)
In August, in conjunction with Arrowhead Pipeline LP, Koch announced an agreement and joint tariff to add 50,000 b/d of oil and condensate capacity during 2011 from the west-ern counties of the Eagle Ford trend
NEB export application filed for BC LNG plant
KM LNG, an affiliate of Apache Corp., Houston, applied to Canada’s National Energy Board for approval to export LNG from the Kitimat LNG terminal planned for Bish Cove, BC
The application requests permission to export as much as 10 million tonnes/year of LNG for 20 years The quantity matches the two-phased capacity design of the plant KM LNG is the operator of the proposed plant All LNG exported under the applied-for license will be produced by KM LNG
In November, said the company’s announcement, members
of the Haisla Nation approved a lease of reserve lands required for construction and operation of the plant Federal and provin-cial environmental authorizations for initial design of the plant have also been obtained
The plant is owned by affiliates of Apache Canada Ltd (51%) and EOG Resources Canada Inc (49%)
Trang 1010 Oil & Gas Journal | Dec 27, 2010
c.pallen@theenergyex-www c.pallen@theenergyex- exchange.co.uk/3/13/
www.theenergy-articles/135.php Jan
30-Feb 2.
Offshore Production Technology Summit, London, +44 (0)20
com Jan 31-Feb 1.
SPE Middle East ventional Gas Conference and Exhibition, Muscat, +971 4 390 3540, +971
1945, (713) 292-1946 (fax), e-mail: info@iadc.
org, website: www.iadc.
org/conferences 1-2.
Topsides Conference &
Exhabition, Galveston, Texas, (918) 831-9160, (918) 831-9161 (fax), e- mail: wendyl@pennwell.
com, website: www.
topsidesevent.com/index.
html 1-3.
Global LNG Forum, Barcelona, +421 257
jacobfleming.com, site: www.jacobfleming.
web-com 2-3.
East African Petroleum Conference & Exhibi- tion (EAPCE), Kampala, +256 414 320714, _256
414 320437 (fax), e-mail: eapce11@
petroleum.go.ug website: www.petroleumaf- rica.com/en/eventdetail.
php?Eventld=522 2-4.
NACE Northern Area Western Conference, Regina, Sask., (281) 228-6200, (281) 228-6300 (fax), e-mail:
firstservice@nace.org, website: www.events.
617, website: ictechnologyconference.
www.arct-org/ 7-9.
Pipeline Coating national Conference, Vienna, +44(0)117 924
Inter-9442, +44(0)117 989
2128 (fax), e-mail: info@
amiplastics.com, website: www.2.amiplastics.
20 7357 8395 (fax), e-mail: conferences@
API Inspection Summit
& Expo, Galveston, Tex., (202) 682 8000, (202) 682-8222 (fax), website:
www.api.org 24-27.
API Exploration and duction Winter Standards Meeting, Fort Worth, Tex., (202) 682-8000, (202) 682-8222 (fax), website: www.api.org
Pro-24-28.
Shale Gas Symposium, Calgary, Alta., (877) 927-7936, (877) 927-
z.nathan@theenergyex- exchange.co.uk/3/13/
http://www.theenergy-articles/214.php 25-27.
API/AGA Joint Committee
on Oil and Gas Pipeline Welding Practices, Fort Worth, Tex., (202) 682
8000, (202) 682-8222 (fax), website: www.api.
org 26-28.
Pipe Tech Americas Summit, Houston, (416) 214-1144, e-mail: lau- rence.allen@wtgevents.
Denotes new listing or
a change in previously published information.
JANUARY 2011
GEO India Conference
& Exhibition, New Delhi, +44 (0)20 7840 2139, +44 (0)20 7840 2119 (fax), e-mail: geo@
wtgevents.com, website:
www.gtsevent.com
19-20.
PennEnergy Buyers Guide is an online
resource with the most detailed and
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S E A R C H | C O M P A R E | C O N T A C T | B U Y
LETTERS
ETHANOL MANDATES
Your ethanol editorial entitled “Subsidies
and incentives” is right on target (OGJ, Dec
6, 2010, p 24) Last week a Wall Street
Jour-nal editorial made some of the same points
that were included in your excellent opinion
piece They pointed out that ethanol is the
only product that enjoys 1) a federal subsidy,
2) tariff protection, and 3) federal
consump-tion mandates.
However, as I am sure you know, this is
not the whole story Neither the WSJ nor the
OGJ mentioned how this ethanol “favorite
nations” treatment has affected food prices
The federal mandates and subsidies have
resulted in significant increases in the prices
of beef, corn, breakfast cereals, and many
other corn-based food products.
As the federal government looks for ways
to reduce unwise and unnecessary spending,
the first place to look is ethanol policy
Elimi-nating unnecessary and unwanted subsidies
and mandates would free American taxpayers
of $7 billion/year of wasted expenditures.
William H Barlow
Houston
Trang 11Oil & Gas Journal | Dec 27, 2010 11
World Heavy Oil
Con-gress, Edmonton, Alta.,
(888) 799-2545, (403)
245-8649 (fax), website:
www.worldheavyoilcon-gress.com 15-17.
Russia Offshore Annual
Conference & Exhibition,
World Heavy Oil
Con-gress, Edmonton, Alta.,
Inter-Exhibition, Dusseldorf, +44 (0) 20 7903 2438, +44 (0) 20 7903 2432 (fax), e-mail: confer- ences@crugroup.com, website: www.crugroup.
com 21-24.
SUBSEA Tieback Forum & Exhibition, San Antonio, (918) 831-9160, (918) 831-9161 (fax), e-mail: registration@pen- nwell.com, website: www.
subseatiebackforum.
com 22-24.
SPE European ence on Health Safety and Environment in Oil and Gas Exploration, Vienna, +44 (0)1224
Confer-318088, website: www.
spe-uk.org 22-24.
Pipe Line Contractors Association Convention, Maui, (214) 969-2700, e-mail: plca@plca.org, website: www.plca.org
Con-petcokes@jacobs.com, website: www.petcokes.
com 25-26.
Middle East Downstream Week Annual Meeting, Abu Dhabi, +44 (0)
1242 529 090, +44 (0)
1242 529 060 (fax), mail: wra@theenergyex- change.co.uk, website:
Confer-0480, (202) 457-0486 (fax), e-mail: info@npra.
org, website: www.npra.
org 1-2.
Annual Arctic Gas Symposium, Calgary, Alta., (877) 927-7936, (877) 927-1563 (fax), website: www.arcticgas- symposium.com/index.
APPEX/AAPG Property &
Prospect Expo, London, +44 (0) 207 434 13
99, e-mail: Europe@
aapg.org website: www.
europetro.com 1-3.
Turkmenistan Asia Oil &
Gas Summit, Singapore, +44 (0) 20 7328 8899, +44 (0) 20 7624 9030 (fax), e-mail: info@
summittradeevents.com, website: www.summit- tradeevents.com/Hold-
ingA2011.php 3-4.
API Spring Committee
on Petroleum ment Standards Meeting, Dallas, (202) 682 8000, (202) 682-8222 (fax), website: www.api.
Measure-org.7-10.
CERA Week, Houston, (713) 840-8282, (713) 599-9111 (fax), e-mail:
info@cera.com, website:
www.cera.com 7-11.
Renewable Energy World Conference & Expo North America, Tampa, (918) 831-9160, (918) 831-9161 (fax), e-mail:
registration@pennwell.
com, website: www.
renewableenergyworld-events.com 8-10.
AIChE Spring Meeting
& Global Congress on Process Safety, Chicago, (800) 242-4363, (203) 775-5177 (fax), website:
ences/springmeeting/
www.aiche.org/confer-index.aspx 13-17.
NACE Corrosion ence & Expo, Houston, (800) 797-6223, (281) 228-6329 (fax), website:
org, website: www.npra.
org 20-22.
MEOS/SPE’s Middle East Oil & Gas Conference &
Exhibition, Manama, +44 (0)20 7840 2139, +44 (0)20 7840 2119 (fax), e- mail: meos@oesallworld.
com, website: www.
meos2011.com 20-23.
GASTECH International Conference & Exhibition, Amsterdam, +44 (0)
1737 855000, +44 (0)
1737 855482 (fax), mail: info@gastech.co.uk,
e-e-mail: www.gastech.
co.uk 21-24.
GPA Europe at GasTech Conference & Exhibition, Amsterdam, +44 (0)
1737 855000, +44 (0)
1737 855482 (fax), mail: info@gastech.co.uk, e-mail: www.gastech.
e-co.uk 21-24.
IADC Drilling HSE Asia Pacific Conference &
Exhibition, Singapore, (713) 292-1945, (713) 292-1946 (fax), e-mail:
Mediter-219418, e-mail: ence@omc.it, website:
confer-www.omc.it/2011
23-25.
SPE Production and Operations Sympo- sium, Oklahoma City, (800) 456-9393, (972) 952-9435 (fax), e-mail:
spedal@spe.org, website:
www.spe.org 27-29.
NPRA International rochemical Conference, San Antonio, (202) 457-
Pet-0480, (202) 457-0486 (fax), e-mail: info@npra.
org, website: www.npra.
org 27-29.
Howard Weil Annual Energy Conference, New Orleans, (504) 582-
495051, e-mail: jane.
rodger@hulse-rodger.org, website: www.spe-uk.
org 29.
GIOGIE Georgian national Oil & Gas Energy and Infrastructure Con- ference, Tbilisi, +44 207
gpaglobal.org, website:
www.GPAglobal.org 3-6.
Middle East Downstream Week Annual Meeting, Abu Dhabi, +44 1242
529 090, +44 1242
529 060 (fax), e-mail:
change.co.uk, website:
c.pallen@theenergyex-www.wraconferences.
com/2/4/articles/105.
php 3-6.
Hannover Messe Pipeline Technology Conference, Hannover, +49 511 90992 22, +49
511 90992 69 (fax), mail: fandrich@eitep.de, website: www.pipeline-
e-conference.com 4-5.
ShaleCon Conference, Montreal, Q.C., (800) 882-8684, e-mail: info@ iapc.com, website: www shalecon.com/Event.
aspx?id=388398 4-7.
Hannover Messe national Trade Show, Hannover, +49 511 89
Inter-0, +49 511 89 32626 (fax), website: www.
hannovermesse.de/
homepage_e 4-8.
Trang 12JOURNALLY SPEAKING
News alarms trouble industry
“We live in the midst of alarms; anxiety beclouds the future; we expect some new disaster with each newspaper we read.” Abe Lincoln said that in the days leading up to the American Civil War, but it could just as easily have come from any oil man following political developments from the Macondo blowout earlier this year
Seems every news report brings details of new moves by elected and appointed government of-ficials to ensure what never happened before in decades of deepwater drilling will never happen again
As a veteran newspaper reporter, I know daily news is “history in a hurry.” It would be interest-ing to see what conclusions future historians will draw from current news reports For instance, on Dec 15 the Associated Press reported the US Jus-tice Department filed a civil suit against BP PLC and eight other companies to recover billions of dollars as a result of the Macondo blowout The suit would hold companies liable for crude re-moval costs and damages under the Oil Pollution Act and for civil penalties under the Clean Water Act That’s in addition to the government’s uncom-pleted criminal investigation, of course
Damages sustained by the US are not yet mined, and BP has already waved existing limita-tions on the dollar amount of its liability and is paying out billions of public and private claims
deter-More than 300 lawsuits have been filed in federal court in New Orleans by individuals and groups seeking financial redress from the blowout that also killed 11 workers aboard the rig
Other defendants in the case are Anadarko Exploration & Production LP and Anadarko Pe-troleum Corp., MOEX Offshore 2007 LLC, Triton Asset Leasing GMBH, Transocean Holdings LLC, Transocean Offshore Deepwater Drilling Inc., Transocean Deepwater Inc.; and Transocean’s in-surer, QBE Underwriting Ltd., Lloyd’s Syndicate
1036 Anadarko Petroleum and MOEX are ity partners in the well Transocean, which owned the rig destroyed in the blowout, keeps pointing out it is indemnified under a standard drilling contract with BP against any costs resulting from
minor-the blowout It told AP, “No drilling contractor has ever been held liable for discharges from a well under the Oil Pollution Act of 1990.” AP report-
ed QBE/Lloyd’s can be held liable only up to the amount of insurance policy coverage under the Oil Pollution Act and is not being sued under the Clean Water Act
Hardline reaction
Considering the government’s hardline reaction to a deepwater oil spill in the Gulf of Mexico, this coun-try’s most prolific source of oil and gas, future his-torians might marvel at another Dec 15 AP report
of President Barack Obama meeting with 20 ness leaders to discuss how to boost the anemic US economy and improve “their own testy relations.”
busi-In that meeting, Obama talked of overhauling the tax system, although he wants to strip the oil indus-try of tax breaks common for other businesses He spoke of easing business regulation while increas-ing regulation of oil and gas at a time other coun-tries are seeking the US industry’s expertise
AP reported, “With US unemployment at 9.8% and weak home prices and tight credit placing a drag on growth, the president was looking to shake loose more than $1.9 trillion in untapped corpo-rate cash to help the recovery.” Maybe he should build a fire under the US Bureau of Ocean Energy Management, Regulation, and Enforcement that is sitting on drilling permits for even shallow-water projects Offshore companies are ready to spend money and put people back to work if only the government would release its chokehold on the industry
Meanwhile, BOEMRE is drafting new offshore regulations before investigation of the cause of the blowout is completed Director Michael Bromwich claims safety regulation can’t wait, which will seem ironic if historians read another Dec 15 AP report The US government finally outlawed tra-ditional drop-side cribs “after the deaths of more than 30 infants and toddlers in the past decade and millions of recalls.” A new standard for fixed-side cribs takes effect next June
SAM FLETCHER
Senior Writer
Trang 13from PennEnergy Research
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Trang 1414 Oil & Gas Journal | Dec 27, 2010
EDITORIAL
wind-energy projects and indirectly with tax its for businesses and individuals But the dollar amount looks small in comparison with a separate
cred-$1 trillion spending bill the Senate killed as the tax compromise became law
On balance, neither political party can gloat Both sides saw the urgent need for action, and both compromised to make it happen Both will fight another day over taxes and spending
Meanwhile, neither party seems to have learned anything about the problems a govern-ment creates by making energy choices best left
to markets In addition to extending by a year a program under which wind-power developers re-ceive taxpayer funding for as much as 30% of their projects, the tax bill reauthorizes tax credits for mandated, tariff-protected biofuels A government that heaves public money at noncommercial ener-gy—even after public support wanes, as it has for fuel ethanol—can’t be expected to deal responsi-bly with the economic energy on which prosperity depends
The oil and gas industry thus has no reason yet to think Republican gains in Congress last November mean a prompt end to one of its most trying political periods in modern memory A test will come when lawmakers get serious about funding their spending spree When Congress needs money, oil and gas companies should hide the cash box
The tax bill averts economic disaster without providing sufficient stimulus, leaves in place a costly and ineffective approach to energy, and lets Obama claim new political footing characterized
by compromise without having made him promise much at all It isn’t a triumph
com-A last-minute tax bill, hailed for the bipartisan compromise that produced it, leaves the oil and gas industry with much to fear Perfection, of course, was never in prospect for legislation passed during the administration of President Barack Obama that extends tax cuts enacted during the administration
of George W Bush Especially with its provisions
on energy, however, the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of
2010 sets new standards for imperfection
The best feature of the law is bipartisan nition that something had to be done With the nation’s economic health still unsure, lawmakers could not allow tax rates to jump back to where they were before reductions of 2001 and 2003
recog-They also could not allow the alternative mum tax to smack millions more middle-class taxpayers Both major political parties would have shared blame for the consequent economic pounding Party leaders, therefore, compromised
mini-Who yielded what
Democrats yielded on their insistence that rate-cut extensions apply only to taxpayers with incomes below thresholds said to distinguish the wealthy from the otherwise And many of them must have loathed the need to sustain any product of an ad-ministration they continue to portray as thoroughly wicked Largely for these reasons, most Republi-cans claimed a political victory But they compro-mised, too
The bill extends the tax-rate reductions only for
2 years As more Republicans than Democrats derstand, tax-rate cuts designed to stimulate the economy must be permanent Now, anyone plan-ning investments must accommodate the threat of higher taxes at the end of the extension period
un-The new law further salutes the notion of lus through tax reduction with a lower payroll-tax rate for employees But that cut lasts only 1 year
To reach full force as a tool of economic lus, a tax-rate cut should be not only permanent but also accompanied by cuts in federal spending
stimu-By that standard, the new bill technically fails It increases spending—directly with, for example, extended jobless benefits and investment aid for
A compromised tax bill
Trang 15» OGJ Worldwide Construction Projects
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