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IRVING, Texas-Exxon Mobil Corporation (NYSE:XOM) today announced enhancements to its U.S. oil and natural gas portfolio managed by subsidiary, XTO Energy Inc., through separate agreements in the Permian Basin in Texas and Utica shale in Ohio.

“These transactions underscore our commitment to developing high-margin liquids growth in areas such as the Permian, while also efficiently funding development of our extensive domestic natural gas resource in emerging plays such as the Utica,” said Randy Cleveland, president of XTO Energy Inc.

Through an agreement with Endeavor Energy Resources, L.P., XTO will fund development to gain substantial operating equity in approximately 34,000 gross acres in the prolific liquids-rich Wolfcamp formation in Midland and Upton counties. Endeavor will continue to operate shallow production while XTO will drill and operate horizontal wells in the deeper intervals.

The agreement increases XTO’s holdings in the Permian Basin to just over 1.5 million net acres, enhancing the company’s significant presence in one of the major U.S. growth areas for onshore oil production.

“The Wolfcamp shale is a vast, tight oil resource with tremendous potential,” said Cleveland. “The presence of multiple, stacked pay zones creates the potential for capital-efficient horizontal development, and the proximity to XTO’s ongoing Wolfcamp operations will offer operating cost efficiencies.”

In a separate transaction involving its holdings in the Utica shale, XTO signed an agreement with American Energy – Utica, LLC (AEU) following a competitive bid process. The agreement will enable AEU to earn approximately 30,000 net acres of XTO’s Ohio leasehold in Harrison, Jefferson and Belmont counties. XTO will continue to operate in a core area of approximately 55,000 net acres, optimizing development by using proceeds from the transaction to fund 100 percent of near-term development costs.

“We just initiated development in the Utica and are encouraged by results from our initial well that is producing at a peak 30-day rate of about 15 million cubic feet of dry gas per day,” Cleveland said. “The agreement funds near-term development of a substantial operating position in this emerging play.”

XTO grew its production in the Appalachia region by almost 30 percent in 2013, and maintains a strong presence with about 645,000 acres in the Marcellus and Utica shale plays.

XTO manages a portfolio that has tripled in size since 2009 when the merger with ExxonMobil was announced.

This Press Release is courtesy of www.exxonmobil.com

HOUSTON – Halliburton (NYSE: HAL) today announced it has provided wireline services technology for two deepwater exploratory wells in Angola’s demanding pre-salt environment for Cobalt International Energy, Inc. (NYSE:CIE).

The wireline technology enhances the understanding of the rock and fluid properties of the formation and enables the company to make informed decisions and minimize drill-stem test risks.

Combined with the standard suite of petrophysical tools, Halliburton employed its RDT™ reservoir description tool to collect reservoir formation pressure and samples over the course of three to four days. The tool collected reservoir formation pressure gradients, mini-drill stem test with straddle packers and fluid samples in a single run, saving time by working longer than conventional tools in this hostile environment.

In addition, Halliburton’s new HRSCT-B™ hostile rotary sidewall coring tool was deployed on both rigs, taking samples at three times the volume of conventional core samples and allowing for more meaningful lab results given that the larger samples offer a better representation of the formation. This technology produces samples that are 1.5-inches in diameter and 2.4-inches in length, while eliminating the microfractures typical in percussion cores and reducing the potential for uncertainties. Rated to withstand temperatures up to 400 degrees Fahrenheit, the tool saved considerable time over coring operations performed by previous service providers in some of the most challenging formations on earth.

“Halliburton’s latest portfolio of technologies designed specifically for the challenging and often hostile environment of deepwater exploration performed exceptionally well and delivered key data for the analysis of these wells,” said Brady Murphy, senior vice president of Halliburton’s Business Development and Marketing. “We are proud to be a part of this exciting and new play in the pre-salt of Angola and with such an innovative operator as Cobalt.”

James Painter, Cobalt’s executive vice president, Execution and Appraisal, stated, “Utilizing technology that provides representative and meaningful information in the pre-salt environment enables Cobalt to assess risk, mitigate hazards and make safe and timely decisions.”

Along with the other tools, Halliburton used its new Integrated Computational Element (ICE CoreSM) optical fluid analyzer technology to obtain a better understanding of the reservoir fluid composition. Using ICE Core tool technology, the company was able to identify which fluid components were present in a sample.

This Press Release is courtesy of www.halliburton.com

SAN RAMON, Calif., – Chevron Corporation (NYSE: CVX) announced today that its U.K. subsidiary, Chevron North Sea Limited, has reached a final investment decision and received approval from the U.K. government to proceed with the development of the Alder Field in the Central North Sea. The project has a planned design capacity of 110 million cubic feet of natural gas and 14,000 barrels of condensate per day. First production is expected in 2016.

“The Alder Field development is an important milestone in support of our strategic plan to profitably grow production and is among our solid queue of major capital projects that will deliver value to shareholders,” said Chevron vice chairman George Kirkland.

“The Alder project builds on Chevron’s already well-established presence in the U.K. energy development sector,” said Todd Levy, president of Chevron Europe, Eurasia and Middle East Exploration and Production. “For more than 50 years Chevron has been active in the U.K.’s oil and gas industry, and we will continue to play a role in developing the region’s natural resources.”

Discovered in 1975, development has recently been enabled by innovative technologies to manage the high-pressure high-temperature gas condensate field located in Block 15/29a, in a water depth of 492 feet (150 meters) approximately 100 miles (160 kilometers) from the Scottish coastline and 37 miles (60 kilometers) from the U.K./Norway median line.

The field will be developed via a single subsea well tied back to the existing Britannia Platform, a distance of 17 miles (28 kilometers).

Chevron North Sea Limited operates the project and has a 73.684 percent interest, with co-venturer ConocoPhillips (U.K.) Limited (26.316 percent).

This Press Release is courtesy of www.chevron.com

SINGAPORE-ExxonMobil reinforced its long-term supply commitment to the fast-growing Asia-Pacific market today during an event celebrating the expansion of its Singapore chemical production facility.

“Global chemical demand will grow at a faster pace than GDP as people seek higher standards of living and purchase more household and packaged goods manufactured with chemical products,” Rex W. Tillerson, Exxon Mobil Corporation (NYSE: XOM) chairman and chief executive officer, said at the event.

“Two-thirds of that growth in chemical demand will be here in the Asia-Pacific region. ExxonMobil’s expanded Singapore chemical plant is uniquely positioned to serve these growth markets – from China to the Indian subcontinent and beyond.”

ExxonMobil’s expansion project doubled the size of its finished product capacity in Singapore, making it the largest chemical expansion in the company’s history.

The Singapore chemical facility, which now accounts for about one-quarter of ExxonMobil’s global chemical capacity, incorporates more than 40 new proprietary technologies and is designed to be one of ExxonMobil’s most energy efficient and flexible sites. For example, a new steam cracker can process an unprecedented range of feedstock, from light gases to crude oil, to produce an expanded slate of premium and commodity petrochemicals.

Tillerson noted that the foundation for the advancements at the Singapore complex were established decades ago and strengthened through the company’s relationships with and respect for the people and nation of Singapore. “Government leaders here wisely pursued a stable policy course that encouraged international investment, teamwork and advanced technologies,” Tillerson said.

Leo Yip, chairman of the Singapore Economic Development Board, said, “The official opening of ExxonMobil’s Singapore Chemical Plant Expansion enhances Singapore’s leadership position as Asia’s energy and chemicals hub. This latest investment – the single largest manufacturing investment in Singapore’s history – is testament to our ability to successfully attract and execute complex mega-projects. The expansion of ExxonMobil’s chemical plant will create meaningful and exciting career opportunities for Singaporeans and also enable Singapore to broaden our chemicals industry with higher-value downstream chemical facilities.”

Png Cheong Boon, CEO, JTC Corporation, said, “The opening of ExxonMobil’s chemical plant is a testimony of the excellent infrastructure on Jurong Island and the strong partnership with ExxonMobil. We remain committed to work with the industry to ensure that Jurong Island remains a key energy and chemical hub in the region.”

Tillerson said that Singapore’s leadership has built a nation that promotes openness, transparency and free trade that enable progress through the exchange of talent, goods, services and ideas.

ExxonMobil has operated in Singapore for 120 years and is one of the country’s largest foreign manufacturing investors. The company employs 2,000 people at its refining and chemical production complex in Singapore. ExxonMobil cogeneration facilities, with capacity of 360 megawatts, meet the steam and electricity needs of the manufacturing complex, resulting in lower operating costs and reduced greenhouse gas emissions.

This Press Release is courtesy www.exxonmobil.com

STAVANGER, NORWAY—January 13, 2014—Demonstrating how GE technology helps operators extend the life of aging offshore production equipment, GE Oil & Gas (NYSE: GE) is supplying Statoil Petroleum AS (OSE: STL, NYSE: STO) with its fifth generation SemStar5 Subsea Electronics Module to upgrade and extend the life of the subsea production control system for the Troll B field.

GE Oil & Gas designed, built and installed the original Troll B subsea production system in 1995. The new Troll B subsea control system will upgrade all wells on manifolds D, E, F, G and H.

The award-winning SemStar5 will be designed to be backwards compatible with the existing system and will replace the reliable, but now obsolete technology that was provided originally. The SemStar5 offers architectural flexibility for a variety of production control system applications, and has successfully been deployed on several Statoil fields in recent years and has been field proven as a robust and reliable solution for upgrading subsea production control systems.

Featuring a modular design approach, SemStar5 is an example of the Industrial Internet’s role in boosting equipment efficiency and performance by providing the infrastructure that supports the higher bandwidth requirements of modern instrumentation while also offering high reliability. The modular design draws on GE’s nearly 30 years of experience with subsea systems.

The first application of the new technology was for Statoil’s Tordis Vigdis Controls Modification project in the North Sea, west of Norway, in about 656 feet (200 meters) of water.

Troll B was originally installed with a 20-year field life. Two decades later, GE is successfully maintaining the system on behalf of Statoil through its obsolescence management and active brownfield offerings.

“GE’s subsea production control system upgrade for Statoil underscores the important role that advanced and ultra-reliable controls technology can play in supporting new and existing offshore production projects,” said Tom Huuse, regional leader—Subsea Systems Services, Nordic Region for GE Oil & Gas. “GE’s Subsea Controls and Services team worked closely with Statoil for more than a year to offer its expertise and support Statoil in identifying the optimum, cost-effective solution that minimizes production downtime and provides an expandable controls solution for the future.”

In recent years operators have recognized the increased oil recovery opportunities in older fields by targeted technology insertion, and GE has responded to this need with an integrated support suite of offerings based on its leading edge technologies being installed in new green fields. Deployment of common modules and units such as the SemStar5 assure supportability and improved reliability and availability through the extended life of the field. This approach has been successfully validated on a number of projects already, and positions GE to be the brownfield controls supplier of choice for both GE and others’ legacy fields.

GE’s equipment is scheduled to be delivered in first half of 2015.

The Troll B agreement also marks the latest of several equipment supply orders announced between the two companies in 2013.

Based in Stavanger, Norway, Statoil Petroleum AS explores, produces and transports oil and gas including petroleum and petroleum-derived products. Statoil Petroleum AS is a subsidiary of Statoil ASA.

The Troll field is in the northern part of the Norwegian North Sea, around 65 kilometres west of Kollsnes, near Bergen. The license is operated by Statoil, (30.58 percent) and partners include Petoro (56 percent); Norske Shell (8.10 percent); Total E&P Norge (3.69 percent); and ConocoPhillips Skandinavia (1.62 percent).

This Press Release is courtesy of www.ge.com

ROSSLYN, VA., A new study released today confirms the growing importance of the domestic aluminum industry to the U.S. economy. Research conducted by economic research firm John Dunham & Associates found that the U.S. aluminum industry directly employs more than 155,000 workers and generates $65 billion in economic output in all 50 states and the District of Columbia.

According to the study, for each aluminum industry job an additional 3.3 jobs are created elsewhere in the economy for a total of 672,000 jobs. When supplier and induced impacts are taken into account, the industry has an economic footprint of more than $152 billion – nearly 1% of Gross Domestic Product.

Other key findings from the report include:

Workers directly employed by U.S. aluminum industry earned more than $12 billion in wages and benefits in 2013.
Indirect employment by the industry creates another $29 billion in wages and benefits.
When all employment supported by the industry is taken into account, these jobs generate nearly $16 billion in federal, state and local taxes.
These workers earn average compensation of more than $60,000, far exceeding the national average of $43,000.
“As an integral part of the U.S. manufacturing base and overall economy, the aluminum industry supports hundreds of thousands of high quality manufacturing jobs in communities of all sizes,” said Layle “Kip” Smith, President and CEO of Noranda and Chairman of the Aluminum Association. “Aluminum is a vital material for the modern era and a bellwether for domestic manufacturing.”

The Aluminum Association last released an economic impact study based on 2009 data that reported 106,000 jobs directly supported by the aluminum industry. The new study uses an improved methodology in order to more fully capture the industry’s footprint. The new methodology is based on company specific microdata rather than aggregate data from the Bureau of the Census. Microdata captures the actual physical locations of all the firms in the different facets of the industry, whereas Census Data only captures the broad-based employment numbers, generally only from the largest firms. The new results show significant job growth in a number of key areas:

4X increase in secondary smelting and alloying jobs (4,500 vs. 16,800)
73% increase in sheet, plate, foil and extruded products jobs (32,500 vs. 56,200)
23% increase in foundries jobs (29,600 vs. 36,400 jobs)
“It’s encouraging to see that, as an industry, we’re growing,” said Heidi Brock, President of the Aluminum Association. “As the country recovers from the recession, we’re seeing demand for our product bouncing back – up 30 percent since 2009. Lightweight, durable and highly recyclable, aluminum is a metal uniquely suited to the 21st century.”

The study was completed by economic research firm John Dunham & Associates and is based on data provided by Dun & Bradstreet, Inc., the federal government and the Aluminum Association. The analysis uses the Minnesota IMPLAN Model to quantify the economic impact of the aluminum industry on the overall U.S. economy.

For the purposes of the report, the aluminum industry is defined to include alumina refining; primary aluminum processing; secondary aluminum smelting and alloying; manufacturing of aluminum sheet, plate, foil, extrusions, forgings, coatings, and powder; aluminum foundries; metals service centers, and wholesalers. The study measures the number of jobs in this industry, the wages paid to employees, total economic output, and federal and state business taxes generated.
Courtesy of The Aluminium Association

Underscoring President Obama’s Climate Action Plan to cut harmful emissions and double energy efficiency, the Energy Department is taking action to develop the next generation of combined heat and power (CHP) technology and help local communities and businesses make cost-effective investments that save money and energy. As part of this effort, the Department launched today seven new regional Combined Heat and Power Technical Assistance Partnerships across the country to help strengthen U.S. manufacturing competitiveness, lower energy consumption and reduce harmful emissions.

Last year, President Obama established a new national goal of 40 gigawatts of new CHP capacity by 2020 – a 50 percent increase from today. Meeting this goal would help American manufacturers and companies save as much as $100 billion in energy costs over the next decade and reduce emissions equivalent to taking 25 million cars off the road. View an Energy Department infographic on how CHP technology works and its environmental and economic benefits.

Launching Seven New CHP Technical Assistance Partnerships

Since 2003, the Energy Department has supported a set of regional centers to help organizations understand how CHP can improve their bottom lines and lower energy bills.

Today, the Department is launching seven regional CHP Technical Assistance Partnerships – the next generation of these centers – to help further grow America’s CHP market for commercial, institutional and industrial businesses, state agencies, utilities and trade associations. Located in California, Colorado, Illinois, New York, North Carolina, Pennsylvania and Washington state, these organizations will offer best practices for CHP project financing, management and state policies, market analysis tools and resources, and technical site evaluations.

Find more information on how the CHP Technical Assistance Partnerships are helping U.S. businesses and communities get the information they need to make smart, cost-effective investment decisions.

Strengthening Infrastructure Reliability and Resilience

Combined heat and power technologies can also help make our nation’s infrastructure smarter, stronger and better equipped to maintain power against increasingly severe weather events. During and after Hurricane Sandy, CHP helped hospitals, fire stations and multifamily housing in New York and New Jersey continue their operations when the electric grid went down.

The Energy Department, the Department of Housing and Urban Development and the Environmental Protection Agency recently issued a guide to help state and local officials determine if CHP is a good option for Sandy rebuilding efforts. The guide includes practical information on financial, site and technical decision-making as well as how to operate and maintain these systems.

The Energy Department is also helping critical facilities across the country invest in CHP – providing affordable, reliable power and heat and ensuring that life-saving operations keep running. For example, in 2010, Thermal Energy Corporation installed a new high-efficiency 48 megawatt CHP system to power and heat the University of Texas MD Anderson Cancer Center, Texas Children’s Hospital and 16 other institutions at the Texas Medical Center. The Energy Department invested about $10 million in this project, matched by $62 million in private funding. Last year, the Midwest Clean Energy Application Center helped Gundersen Health system complete installation of a CHP system at its medical campus in Onalaska, Wisconsin – completely offsetting its electricity and steam needs and saving about $100,000 each year.

Developing Innovation CHP Technologies

In addition to technical assistance efforts, the Energy Department is supporting research, development and demonstration projects to help grow the CHP market, including finding CHP solutions that fit small- and medium-sized facilities and accelerating new product commercialization.

Industries with high and continuous demand for both electrical and thermal energy – such as food processing, paper manufacturing and metals production – are well suited for CHP installations but often face market and technical barriers to deployment. With that in mind, the Department is supporting demonstration projects to test how these systems impact plants’ operations and energy use and help identify financing and maintenance best practices. For instance, the Department partnered with Frito-Lay to install and test a CHP system at its Killingly, Conn.-based food processing facility. In addition to providing reliable, efficient power, the gas-fired system reuses excess heat to warm Frito-Lay’s chip fryer oil – cutting costs and reduce harmful air pollution.

The Department is also supporting new CHP technologies that are cleaner, more efficient and can use a variety of fuel sources. The Gas Technology Institute is developing a new CHP burner technology that cuts greenhouse gas emissions while improving overall system efficiency. Capstone Turbine Corporation is designing a combined 65 kilowatt CHP system and biomass gasifier that can use stalks, grass and other material to generate gas and power a turbine. Capstone is also developing a 370 kilowatt CHP system that can save about 44 percent more energy over a traditional system while reducing carbon dioxide emissions by 60 percent and nitrogen oxide emissions by 95 percent.
Courtesy Department of Energy

A consortium of engineers both from institutions and companies have collaborated on a project that could potentially reduce the consumption of gas and fuel oil.  This technology reduces significantly the rate which at which heating systems process the fuel they use whether it is gas or fuel oil.

The US is seriously considering its rules governing offshore oil drilling. In view of the the recent oil spills in the Gulf of Mexico and the adverse environmental consequences, more stringent rules are been crafted to eliminate the circumstances that triggered such spills.