Baker Hughes, private equity to form land pressure pumping firm

Oil field services firm Baker Hughes Inc. (BHI), Houston private equity firm CSL Capital Management LLC, and West Street Energy Partners LP (WSEP), a fund managed by the merchant banking division of Goldman Sachs, have agreed to form a pure-play North American land pressure pumping company. Source: News

Energy reform bill compromise stalled, House committee official says

Prospects for a joint US House-Senate conference to send compromise energy-reform legislation to the White House before yearend are growing dim because so many significant disagreements have remained unresolved, a House Natural Resources Committee official said. Source: News

EIA: US crude stockpiles shed 900,000 bbl

US commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, decreased 900,000 bbl during the week ended Nov. 25 from the previous week’s total, according to the US Energy Information Administration’s Weekly Petroleum Status Report. Source: News

MARKET WATCH: NYMEX oil prices rise as OPEC meeting gets under way

The light, sweet crude oil price for January delivery fell steeply to settle just above $45/bbl on the New York market Nov. 29, but the benchmark rose in early trading Nov. 30 as the much-anticipated meeting of the Organization of Petroleum Exporting Countries got under way in Vienna. Source: News

FWS to prepare EIS for producers’ three-state habitat conservation plan

The US Fish & Wildlife Service announced that it intends to prepare a draft environmental impact statement for proposed issuance of an incidental take permit (ITP) for the draft Oil & Gas Coalition Multi-State Habitat Conservation Plan that nine producers are developing for parts of Ohio, Pennsylvania, and West Virginia. Source: News