Anadarko Petroleum Corp. is teaming with private equity giant KKR & Co. in a plan to drill more than 500 wells across East Texas, a step that represents a major expansion in what was once one of the industry’s most prolific regions.
The oil industry is gearing up for a postelection lobbying push to loosen the four-decade U.S. ban on exports of crude oil, saying that relaxing the prohibition would create jobs and stimulate the economy.
As we come to the end of 2013, it’s a good time to reflect on some of the biggest resources stories of the year. One that immediately comes to mind is the U.S. energy resurgence and its tremendous effect on oil and gas.
A boom in oil production from the shale formations of North Dakota and Texas has the U.S. on a course to cut its reliance on imported crude oil to about 42 percent this year, the lowest level in two decades.