Lawmakers in the House of Representatives who are trying to end the decades-old ban on U.S. crude oil exports said on Thursday they were gaining support after a Democrat joined the Republican-led effort. Representative Henry Cuellar became the first Democrat to sign on to a bill launched in February by Representative Joe Barton, a Republican and fellow Texan.
New oil and gas well permits issued across the United States rose slightly in December and surged 72 percent in Colorado and Wyoming after falling sharply in November on tumbling crude prices.
Oil production from the United States' biggest shale plays is poised to keep expanding at the same breakneck pace into early next year, according to new U.S. projections released on Monday that highlighted a slow response to tumbling prices.
Plunging oil prices sparked a drop of almost 40 percent in new well permits issued across the United States in November, in a sudden pause in the growth of the U.S. shale oil and gas boom that started around 2007.
An unusual disconnect has emerged in the U.S. oil market, with headline futures slumping to levels below $90 a barrel even as traders in the physical crude market report surprisingly robust demand and strong pricing.
Texas, US-based energy explorer Comstock Resourced Inc has allocated roughly $450 million as investment for its drilling and completion operations in 2014, with a further $28 million for leasing activities.
Wall Street Journal reported on Sunday that Royal Dutch Shell would be selling its Eagle Ford unit in South Texas.
H.I.G. Capital-backed Harrison Gypsum acquired the Eagle Ford Division of Pinnacle Materials.
According to sources, Talisman is looking into selling its shale assets in Eagle Ford to raise US$2 billion.
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