First Gulf now Marcellus Shale Gas well in PA
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First The Gulf, Now The Marcellus Shale: Gas Well Rupture Forces Mile-Wide Evacuation In PA
Submitted by Tyler Durden on 06/04/2010 13:01 -0500

Natural Gas

The Pittsburgh Channel reports that an explosion at a gas well in the Marcellus Shale, has forced a mile-wide evacuation in Clearfield County, PA. The irony of this event occurring even as CNBC shows some guy mopping up oil with hay from a bucket is beyond sublime. Also, so much for clear energy. There are no details as yet which company's well was responsible for the explosion, although there are is one junk-bond laden firm which comes to mind. Update: the gas well operator is EOG. Update 2: Elizabeth Ivers, a spokeswoman for driller EOG Resources, said the well has been brought under control, just about 16 hours after it started spewing gas. Spadoni said no one was injured and there are no homes within a mile of the well.

Dept Environmental Protection Investigate EOG Resources Marcellus Shale explosion thoroughly?
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Dept Of Environmental Protection To Investigate EOG Resources Marcellus Shale Explosion Thoroughly
Submitted by Tyler Durden on 06/04/2010 14:13 -0500

EnronNatural Gas

DEP Plans Thorough Investigation in to Marcellus Shale Well Blowout in Clearfield County

EOG Resources Well Released Fracking Fluid, Natural Gas for 16 Hours

HARRISBURG, Pa., June 4 /PRNewswire-USNewswire/ --

Department of Environmental Protection Secretary John Hanger said today that his agency intends to investigate aggressively the circumstances surrounding a blowout at a Marcellus Shale natural gas well in Lawrence Township, Clearfield County, and take the appropriate enforcement action.

At approximately 8 p.m. on Thursday, June 3, the operators of the well, which is owned by EOG Resources , Inc., lost control of it while preparing to extract gas after hydrofracturing the shale. As a result, the well released natural gas and flowback frack fluid onto the ground and 75 feet into the air. The well was eventually capped around noon on June 4.

"The event at the well site could have been a catastrophic incident that endangered life and property," said Hanger. "This was not a minor accident, but a serious incident that will be fully investigated by this agency with the appropriate and necessary actions taken quickly.

"When we arrived on scene, natural gas and frack fluid was flowing off the well pad and heading toward tributaries to Little Laurel Run and gas was shooting into the sky, creating a significant fire hazard. That's why emergency responders acted quickly to cut off electric service to the area.

EOG Resourses or the new ENRON
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All's well at the other Enron
EOG, spun off by the parent company from hell in 1999, has soaring earnings and a rocketing stock price.
By Andy Serwer, FORTUNE senior editor-at-large
July 5 2006: 10:12 AM EDT

(FORTUNE Magazine) -- Ask folks in the Texas/Oklahoma oil patch how Enron is doing, and you might get a surprising answer. "They're a very highly regarded company," one longtime oilman told me recently.

Huh? Is this guy huffing fumes off a wellhead? Not at all. The Enron he has in mind isn't the one generating courtroom drama. It's an outfit called EOG Resources - the EOG once stood for Enron Oil & Gas - which split with its parent company in 1999 and has since emerged as a clean-living, independent exploration and production (E&P) company.

BJ Services Company
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BJ Services Company is a Fortune 500 oil and gas equipment and services company with its headquarters located in Houston, Texas. It has its headquarters in the Spring Branch district and in unincorporated Harris County, Texas.[1][2]

It was founded in 1872 as the Byron Jackson Company by inventor Byron Jackson. Today the company operates in more than 50 countries worldwide.

BJ Services Company is a leading worldwide provider of pressure pumping and oilfield services for the petroleum industry. Pressure pumping services consist of cementing and stimulation services used in the completion of new oil and natural gas wells and in remedial work on existing wells, both onshore and offshore. Oilfield services include completion tools, completion fluids, casing and tubular services, production chemical services, and precommissioning, maintenance and turnaround services in the pipeline and process business, including pipeline inspection.

On August 31, 2009, the company was bought by Baker Hughes Incorporated in a $5.5 billion stock and cash deal. Greenhill and Company advised on the transaction.

Baker Botts
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Second, oil was discovered in 1901 near Houston, creating dozens of oil companies and oil service companies that relied on Baker Botts as their legal mainstay. These included Humble Oil (the predecessor of Exxon), Gulf Oil (later merged into Chevron), Texas Co. (later Texaco), Howard Hughes' drill bit company (now Baker Hughes), and many, many more.

EOG Resources
New Issue-EOG Resources sells $1 bln in two parts
Mon May 17, 2010 3:41pm EDTStocks EOG Resources, Inc.EOG.N$107.55+3.74+3.60%12:12pm MDT
May 17 (Reuters) - EOG Resources Inc (EOG.N) on Monday
sold $1 billion of senior unsecured notes in two parts, said
IFR, a Thomson Reuters service.
Barclays, JP Morgan and UBS were the active bookrunning
managers for the sale. Wells Fargo Securities was the passive
bookrunner for the sale.
BORROWER: EOG RESOURCES INC
TRANCHE 1
AMT $500 MLN COUPON 2.95 PCT MATURITY 6/1/2015
TYPE SR NOTES ISS PRICE 99.795 FIRST PAY 12/1/2010
MOODY'S A3 YIELD 2.994 PCT SETTLEMENT 5/20/2010
S&P A-MINUS SPREAD 80 BPS PAY FREQ SEMI-ANNUAL
FITCH N/A MORE THAN TREAS MAKE-WHOLE-CALL 15 BPS
TRANCHE 2
AMT $500 MLN COUPON 4.40 PCT MATURITY 6/1/2020
TYPE SR NOTES ISS PRICE 99.734 FIRST PAY 12/1/2010
MOODY'S A3 YIELD 4.33 PCT SETTLEMENT 5/20/2010
S&P A-MINUS SPREAD 95 BPS PAY FREQ SEMI-ANNUAL
FITCH N/A MORE THAN TREAS MAKE-WHOLE-CALL 20 BPS