Houston American Energy Updates Test Results from La. Well

Houston American Energy Corp. announced Friday that Pennington Oil & Gas, LLC, the operator of the Crown Paper #1 well in the Profit Island Field in East Baton Rouge Parish, Louisiana, has successfully carried out a recompletion of the Crown Paper #1 well. Houston American holds a 5.675 percent royalty interest in the well, which interest will be reduced to a 2.838 percent royalty interest after Houston American's receipt of royalties totaling approximately $225,000. Houston American also holds working interests and royalty interest in adjacent acreage to the Profit Island Field.

The Crown Paper #1 well came back on production following the recompletion April 25 and is currently producing in excess of 300 barrels of condensate and 900 mcf of gas per day.

John Terwilliger, Chief Executive Officer of Houston American Energy, stated, "While it is early in its production life for this new interval, I am very pleased with the initial production from the well. As a royalty owner, Houston American is not privy to all of the data on the well and can't speak as to the future cash flows that may be realized from the well. Nonetheless, I view the successful recompletion in the Tuscaloosa Sand as favorable to our Profit Island and North Profit Island Prospects. Houston American will continue to evaluate this area as well as pursue other domestic opportunities."

Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

View the original article here

Houston: Oil, Gas Boomtown

Houston, Texas' energy industry is flourishing, making the job market for today and tomorrow very robust, remarked Huw Rothwell, executive director of Michael Page International at the American Petroleum Institute's (API) Houston chapter luncheon Tuesday. Michael Page is a global publically traded professional and executive recruitment consultancy with more than 5,000 employees worldwide.

"The oil and gas industry in Houston is in very good condition, adding about 102,000 jobs in the last three years," he said.

The driving economic growth is attributed to:

high oil prices - levels that encourage investmentinnovative technology - hydraulic fracturing, deep waterincreased domestic productioninvestments made to new infrastructure

Overall, Texas is witnessing an increase in employment in the oil and gas industry. Last week, the Texas Independent Producers and Royalty Owners (TIPRO) published the "State of Energy" report focusing on quarterly Bureau of Labor census data. Oil and gas industry employment in the state increased from 65,000 to 971,000 in 2012, according to TIPRO.

The industry itself has witnessed growth in the United States over the past five years, which has mainly been driven by increased domestic production from shale, said Sandy Fielden in her report "We Should be Heroes! – The Economic Bounty of Shale Oil & Gas".

In 2012, 65,000 new jobs were created in the nation's industry, including 36,000 new jobs in operations and support activities, 12,750 jobs in crude oil and gas extraction and nearly 8,000 jobs in oil and gas field machinery and equipment, according to the TIPRO report. These numbers are then broken down state by state with Texas ranking as the biggest oil and gas employer, adding more than 380,000 new jobs in 2012. Louisiana ranked second at 81,400, followed by Oklahoma (74,600), California (46,400), and Pennsylvania (34,900). 

With Texas ranking number one on the employment list, Houston is also ranked at the top as far as employment and people relocating to the city.

"The number of mid-to-large companies relocating to the city in 2011 was 195," stated Rothwell. "People see Houston as the real hub and investments in and around Houston are apparent."

Fifteen major buildings were completed in the first three quarters of last year, and currently, 3.9 million square feet of office space is under construction. Exxon Mobil Corp. is building a new complex on 385 acres near the Woodlands, a suburb north of downtown Houston. It is estimated the company will bring 10,000 jobs to the Woodlands in 2014. Additionally, ExxonMobil businesses in Virginia and Ohio and a refinery in southeast Houston are also relocating to the new campus.

With the booming job market and companies moving to Houston, the city is expected to see an increase in people relocating, making it the fastest growing major metropolitan area in the country, according to a Comerica Regional Economic report.

Job creation in the Houston-Sugar Land area increased 3.7 percent through October 2012, compared to the same time period in 2011. The area's average job creation outpaced the nation's 1.5 percent average increase through October 2012, according to the Comerica Regional Economic report. Furthermore, the report predicts that the unemployment rate will slip to 6.8 percent in 2013 and 6.4 percent in 2014.

"We anticipate that this boom will continue for the next five to 10 years, with Houston remaining a buoyant candidate-driven market," stated Rothwell. 

With more than 10 years of journalism experience, Robin Dupre specializes in the offshore sector of the oil and gas industry. Email Robin at rdupre@rigzone.com.

Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

View the original article here

Houston: Oil, Gas Boomtown

Houston, Texas' energy industry is flourishing, making the job market for today and tomorrow very robust, remarked Huw Rothwell, executive director of Michael Page International at the American Petroleum Institute's (API) Houston chapter luncheon Tuesday. Michael Page is a global publically traded professional and executive recruitment consultancy with more than 5,000 employees worldwide.

"The oil and gas industry in Houston is in very good condition, adding about 102,000 jobs in the last three years," he said.

The driving economic growth is attributed to:

high oil prices - levels that encourage investmentinnovative technology - hydraulic fracturing, deep waterincreased domestic productioninvestments made to new infrastructure

Overall, Texas is witnessing an increase in employment in the oil and gas industry. Last week, the Texas Independent Producers and Royalty Owners (TIPRO) published the "State of Energy" report focusing on quarterly Bureau of Labor census data. Oil and gas industry employment in the state increased from 65,000 to 971,000 in 2012, according to TIPRO.

The industry itself has witnessed growth in the United States over the past five years, which has mainly been driven by increased domestic production from shale, said Sandy Fielden in her report "We Should be Heroes! – The Economic Bounty of Shale Oil & Gas".

In 2012, 65,000 new jobs were created in the nation's industry, including 36,000 new jobs in operations and support activities, 12,750 jobs in crude oil and gas extraction and nearly 8,000 jobs in oil and gas field machinery and equipment, according to the TIPRO report. These numbers are then broken down state by state with Texas ranking as the biggest oil and gas employer, adding more than 380,000 new jobs in 2012. Louisiana ranked second at 81,400, followed by Oklahoma (74,600), California (46,400), and Pennsylvania (34,900). 

With Texas ranking number one on the employment list, Houston is also ranked at the top as far as employment and people relocating to the city.

"The number of mid-to-large companies relocating to the city in 2011 was 195," stated Rothwell. "People see Houston as the real hub and investments in and around Houston are apparent."

Fifteen major buildings were completed in the first three quarters of last year, and currently, 3.9 million square feet of office space is under construction. Exxon Mobil Corp. is building a new complex on 385 acres near the Woodlands, a suburb north of downtown Houston. It is estimated the company will bring 10,000 jobs to the Woodlands in 2014. Additionally, ExxonMobil businesses in Virginia and Ohio and a refinery in southeast Houston are also relocating to the new campus.

With the booming job market and companies moving to Houston, the city is expected to see an increase in people relocating, making it the fastest growing major metropolitan area in the country, according to a Comerica Regional Economic report.

Job creation in the Houston-Sugar Land area increased 3.7 percent through October 2012, compared to the same time period in 2011. The area's average job creation outpaced the nation's 1.5 percent average increase through October 2012, according to the Comerica Regional Economic report. Furthermore, the report predicts that the unemployment rate will slip to 6.8 percent in 2013 and 6.4 percent in 2014.

"We anticipate that this boom will continue for the next five to 10 years, with Houston remaining a buoyant candidate-driven market," stated Rothwell. 

With more than 10 years of journalism experience, Robin Dupre specializes in the offshore sector of the oil and gas industry. Email Robin at rdupre@rigzone.com.

Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

View the original article here

Coast Guard: Shell Pipeline Spills Oil Into Houston Area Bayou

An estimated 50 barrels of oil spilled from a pipeline operated by a subsidiary of Royal Dutch Shell PLC into a waterway outside Houston, according to the U.S. Coast Guard.

Shell clean-up crews were working to clear the crude out of Vince Bayou, a waterway that connects to the Houston Ship Channel, which leads into the Gulf of Mexico, said Coast Guard Petty Officer Steven Lehman. The spill was contained but the total amount of oil was still being verified, Officer Lehman said.

"That's a very early estimate--things can change," Officer Lehman said.

On April 3, about 700 barrels were found to have leaked from the West Colombia pipeline because of an unknown cause, with up to 60 of those barrels emerging in the bayou, Shell spokeswoman Kim Windon said. The pipeline had been shut down and isolated on March 29 after alarms alerted the company that oil may have leaked from the line.

Copyright (c) 2013 Dow Jones & Company, Inc.

Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

View the original article here

University of Houston to Develop Energy Initiative

University of Houston (UH) President Renu Khator has named Dow Chair Professor Ramanan Krishnamoorti as a special assistant to the president/chancellor for UH Energy, a collection of the university's preeminent energy research and education programs.

Krishnamoorti will lead UH's efforts to develop a strategic plan for UH Energy involving education and training, research and the expansion of UH's Energy Research Park.

In recent years, UH has identified energy as a key strategic focus for research and teaching. The overall vision for UH Energy and the ERP is to build a premier research and education facility for students and faculty as well as establish a unique environment for the best minds to forge new business approaches to the way energy is created, delivered and used.

UH Energy includes the brightest minds in UH engineering, law, business, natural sciences and technology. These researchers and educators help shape energy policy and forge new business approaches in the energy industry. They also educate the innovators of tomorrow by providing a dynamic environment for students and faculty.

"The UH Energy initiative is an exciting and important mission, given its location in the world's energy capital," Krishnamoorti said. "I will be working on developing a comprehensive strategic plan designed to capitalize on the abundance of energy-related talent and resources here at UH.

"I also will be working on growing our global partnerships with industry in regards to education and research," Krishnamoorti said. "This strategic plan also will involve the development of degree and non-degree programs using online and offsite delivery mechanisms."

Additionally, Krishnamoorti will work closely with the UH Energy Advisory Board, a distinguished panel of global industry leaders to build a vibrant partnership with industry.

For the past four and a half years, Krishnamoorti has been department chair of the UH Cullen College of Engineering's chemical and biomolecular engineering department. He has stepped down as department chair to assume the newly created special assistant's position. Mike Harold, M.D. Anderson Professor of chemical and biomolecular engineering, has been named the new department chair.

Krishnamoorti earned his Ph.D. in chemical engineering from Princeton University. He joined UH as an assistant professor in 1996 and became a professor in 2005. He also was a visiting researcher at ExxonMobil Chemical Company in 2003 and was UH's associate dean of research for engineering from 2005-2008.

Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

View the original article here