MARKET WATCH: NYMEX oil prices for November climb back above $45/bbl

Light, sweet crude oil prices for November delivery regained some strength in late Oct. 2 trading, settling back above $45/bbl after Baker Hughes Inc. reported the number of active US drilling rigs dropped to the lowest level in years. Source: News

Production begins from Bonga Phase 3 offshore Nigeria

Shell Nigeria Exploration & Production Co. Ltd. (SNEPCo) has started production offshore Nigeria from the Bonga Phase 3 project, an expansion of the Bonga Main development. Source: News

The option to wait

While the oil and gas industry can trust currently cruel conditions of the oil market not to last forever, it must adapt to a fundamental change certain to reshape decision-making. Source: News

States weigh in on ozone rule

State air quality agencies apparently would appreciate better implementation direction from the US Environmental Protection Agency if it reduces allowable ground-level ozone limits from 75 ppb to a proposed 65-70 ppb range. Source: News

West Coast CBR-project legal risks require management

Siting crude-by-rail (CBR) terminals in areas that already have high volatile organic compound (VOC) emissions is among the steps companies can take to reduce the risk of legal action against their construction and operation. Source: News

Low-cost modifications boost capacity, crude processing flexibility

A project design that maximizes use of existing equipment in expanding a refinery’s crude oil processing capacity, and limits equipment additions to only those necessary, improves timelines and yields while reducing costs. Source: News

Modeling ensures stability of Chinese CBM horizontal wells

Successfully drilling horizontal coalbed methane wells depends on wellbore stability, which in turn depends on coal-seam thickness, seam depth, coal cohesion, overburden stress, wellbore length, reservoir pressure, and the drilling fluid used. Source: News