Drilling Costs Slide
This article in the Houston Chronicle reports that some drilling costs are declining, while others - including personnel costs - remain relatively unchanged.
Drilling Costs in Decline
According to this article in the WSJ, material, labor and drilling costs have declined since the first quarter of this year - due in part to the lower price of steel, cheaper diesel fuel, and most importantly, a drop in demand for drilling equipment.
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Forest Service Lawsuit
Catalyst Energy, Inc., has sued the U.S. Forest Service over its refusal to permit energy development in the Allegheny National Forest despite having the mineral rights to do so, according to this report from the Philadelphia Inquirer.
New Drilling Rules Get Final Approval
The Colorado legislature has given final approval to controversial new oil and gas drilling regulations, according to this report from the Denver Post. If signed into law by the Governor, they would go into effect next month.
PA State Land Drilling Proposal
The PA House Republican Energy Task Force unveiled their Energize PA plan to expand natural gas drilling on state forest lands over the next three years. This is in contrast to the new severance tax proposed by the PA Governor in February. More details can be found here (a press release from PA Rep. Reed's office).
CO House Approves of New Drilling Rules
Controversial new rules for drilling in Colorado passed an informal vote in the state House of Representatives, according to this report from the Denver Post. The legislation still needs a formal, recorded vote before moving to the state Senate.
New Texas Drilling Rules Proposed
A series of bills are being introduced into the Texas legislature to tighten regulations on natural gas drilling in the Barnett Shale, according to this article from the Star-Telegram. The issues appear wide-ranging (e.g., including pipeline condemnations), and - as you might expect - controversial.
New Drilling Offshore CA?
The CA State Lands Commission is expected to vote on a proposal that could lead to the first new oil drilling project off the California coast in 40 years, according to this article in the Mercury News. The proposal was announced last year and involved an alliance between anti-oil environmentalists and the oil company, supported by billions in revenue for the state and a commitment to end local drilling by 2022.
Of course, the Commission could vote against the proposal . . .
[Update: The Commission rejected the proposal. From the LA Times: "Lt. Gov. John Garamendi, one of three members of the lands panel, said allowing any new drilling in state waters would suggest the state welcomes offshore drilling and send a come-hither message to other oil companies."]
