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New report: Banning fracking could have devastating impact on Texas, American economy

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If hydraulic fracturing were banned, Texas could lose 1.5 million jobs and $196 billion in annual GDP by 2022, a new report from the US Chamber of Commerce Energy Institute finds. The fourth installment of the institute’s Energy Accountability Series details the devastating economic impacts that America, especially Texas, could face if the “Keep it in the Ground” movement succeeded in banning hydraulic fracturing for oil and natural gas.

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New survey aims to find out if energy industry has lost workforce for good

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A new survey has been launched that aims to determine whether the energy industry has lost its workforce to other industries for good. It’s estimated that approximately 20% of the industry’s workforce has been laid off over the past two years. During this time, spending at US drilling companies has been cut by more than 50%. The survey – a joint effort between the University of Houston Center for Applied Psychological Research (CARP) and Newhouse Consultants, aims to find out whether energy employees who have been laid off will return to the industry when demand increases. If not, will energy companies need to be prepared to hire and on-board large numbers of new hires? The survey aims to help to ...

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CONSOL Energy, Noble Energy to separate Marcellus Shale joint venture

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CONSOL Energy and Noble Energy jointly announced that the two companies have entered into a definitive agreement to separate their Marcellus Shale 50-50 Joint Venture (the "Exchange Agreement"). The two companies have negotiated a separation of the Joint Venture that was formed in 2011 for the exploration, development, and operation of primarily Marcellus Shale properties in Pennsylvania and West Virginia.

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GE, Baker Hughes agree to create full-stream digital industrial services company

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GE and Baker Hughes announced that the companies have entered into an agreement to combine GE’s oil and gas business (“GE Oil & Gas”) and Baker Hughes to create a world-leading oilfield technology provider with a unique mix of service and equipment capabilities. The “new” Baker Hughes will be a leading equipment, technology and services provider in the oil and gas industry with $32 billion of combined revenue and operations in more than 120 countries. By drawing from GE technology expertise and Baker Hughes capabilities in oilfield services, the new company will provide best-in-class physical and digital technology solutions for customer productivity.

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PSA updating barrier management guidelines to incorporate operational, organizational barriers

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Norway’s Petroleum Safety Authority (PSA) is updating its barrier management guidelines to include organizational and operational barriers, in additional to technical barriers. After PSA conducted studies and participated in a multinational audit on barrier management, the regulator concluded there is a need for a more systematic approach to barrier management. Such an approach is needed...

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