Senior Correspondent
Terry's Feed
Dec 5, 2013

Fed officials call for clear plan on wind down of QE3

COLLEGE STATION, Texas/FORT LAUDERDALE, Florida (Reuters) – The Federal Reserve should telegraph the end of its current massive round of bond-buying by committing to a set schedule for the wind-down, two top policymakers said on Thursday.

Their embrace of the idea, after two others have publicly supported it in recent weeks, suggests it may be gaining traction ahead of a much-anticipated December 17-18 Fed policy meeting.

Nov 21, 2013

Magellan sees heavy demand for U.S. Gulf condensate splitters

HOUSTON (Reuters) – The U.S. Gulf Coast may need six to eight facilities to turn condensate – a very light form of crude oil – into exportable products and handle a glut of output from the Eagle Ford field in Texas, Magellan Midstream Partners LP (MMP.N: Quote, Profile, Research, Stock Buzz) Chief Executive Michael Mears said.

Splitters, or a very basic distillation tower, give condensate a minimal level of processing. Without that processing, condensate is considered crude oil under U.S. law and therefore cannot be exported.

Nov 21, 2013

Fracking without freshwater at a west Texas oilfield

MERTZON, Texas, Nov 21 (Reuters) – At a dusty Texas
oilfield, Apache Corp has eliminated its reliance on
what arguably could be the biggest long-term constraint for
fracking wells in the arid western United States: scarce
freshwater.

For only one well, millions of gallons of water are used for
hydraulic fracturing, or fracking, the process that has helped
reduce U.S. reliance on foreign oil over the past five years by
cracking rock deep underground to release oil and gas.

Nov 12, 2013

GE pushes gas power for drill rigs, Caterpillar’s diesel turf

HOUSTON, Nov 12 (Reuters) – General Electric Co is
trying to deploy more of its natural gas engines on rigs
drilling for hydrocarbons in the North American energy boom -
where Caterpillar Inc diesel engines have long been the
industry standard.

The sales push comes as GE forecasts global natural gas
consumption will rise by a third through 2025 and as it makes
strategic investments in the gas sector – like its 2010 purchase
of U.S. engine maker Waukesha.

Oct 28, 2013

Analysis: From Big Foot to Bluto, Gulf of Mexico bolstering U.S. as No. 1 in oil

CORPUS CHRISTI, Texas (Reuters) – The Gulf of Mexico, stung by the worst offshore oil spill in U.S. history in 2010 and then overshadowed by the onshore fracking boom, is on the verge of its biggest supply surge ever, adding to the American oil renaissance.

Over the next three years, the Gulf is poised to deliver a slug of more than 700,000 barrels per day of new crude, reversing a decline in production and potentially rivaling shale hot spots like Texas’s Eagle Ford formation in terms of growth.

Oct 28, 2013

From Big Foot to Bluto, Gulf of Mexico bolstering U.S. as No. 1 in oil

CORPUS CHRISTI, Texas, Oct 28 (Reuters) – The Gulf of
Mexico, stung by the worst offshore oil spill in U.S. history in
2010 and then overshadowed by the onshore fracking boom, is on
the verge of its biggest supply surge ever, adding to the
American oil renaissance.

Over the next three years, the Gulf is poised to deliver a
slug of more than 700,000 barrels per day of new crude,
reversing a decline in production and potentially rivaling shale
hot spots like Texas’s Eagle Ford formation in terms of growth.

Oct 28, 2013

Analysis: From Big Foot to Bluto, Gulf of Mexico set for record oil supply surge

CORPUS CHRISTI, Texas (Reuters) – The Gulf of Mexico, stung by the worst offshore oil spill in U.S. history in 2010 and then overshadowed by the onshore fracking boom, is on the verge of its biggest supply surge ever, adding to the American oil renaissance.

Over the next three years, the Gulf is poised to deliver a slug of more than 700,000 barrels per day of new crude, reversing a decline in production and potentially rivaling shale hot spots like Texas’s Eagle Ford formation in terms of growth.

Oct 28, 2013

From Big Foot to Bluto, Gulf of Mexico set for record oil supply surge

CORPUS CHRISTI, Texas, Oct 28 (Reuters) – The Gulf of
Mexico, stung by the worst offshore oil spill in U.S. history in
2010 and then overshadowed by the onshore fracking boom, is on
the verge of its biggest supply surge ever, adding to the
American oil renaissance.

Over the next three years, the Gulf is poised to deliver a
slug of more than 700,000 barrels per day of new crude,
reversing a decline in production and potentially rivaling shale
hot spots like Texas’s Eagle Ford formation in terms of growth.

Oct 6, 2013

Floodgates reopen in New Orleans, oil platforms restaff as storm wanes

HOUSTON (Reuters) – Massive barge gates shut to prevent flooding in New Orleans were reopened on Sunday and energy firms started returning workers to oil platforms in the Gulf of Mexico, after officials lifted evacuation orders as Tropical Storm Karen faltered.

The U.S. Army Corps of Engineers was reestablishing normal port traffic on waterways, including the Inner Harbor Navigation Canal-Lake Borgne Surge Barrier and the Seabrook Floodgate Complex in New Orleans, built after Hurricane Katrina devastated the low-lying city in 2005.

Sep 27, 2013

BP battles for billions in new Gulf trial phase

HOUSTON/LONDON (Reuters) – BP will battle to hold down fines that could hit $18 billion in a new phase of the Gulf of Mexico trial that will rule on how much oil it spilled in 2010 and judge its efforts to plug its well.

Starting on Monday in New Orleans, this second of three phases of a trial determining responsibilities for the worst marine pollution ever seen in the United States, could – in the worst outcome for the British firm – land BP with a bill five times greater than the $3.5 billion it has set aside for fines.

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