The largest OTC Exhibition in 29 years, packed aisles and optimisim make for a good day one at OTC in the Reliant Center in Houston, Texas.

Stay tuned for reports and updates on events like today’s informative Panel:
PANEL: OFFSHORE ENERGY DEVELOPMENT THROUGH A POST-SPILL REALITY

News Flash: Governors from Alaska, Virginia and states bordering the Gulf of Mexico are forming a new Outer Continental Shelf Governors Coalition.

Led by five governors from Texas, Louisiana, Mississippi, Alaska, and Virginia.

Twenty States in all will be invited to participate in the group. The coalition will give a strong unified voice to send a clear message to Washington…..GIVE THE PEOPLE WHAT THEY WANT. All poles indicate that a vast majority of the US population wants offshore drilling to expand in a safe manner.

By: Greg Bright
Reporting from Houston Texas. may 1st 2011

Texas Railroad Commissioner:

Let me be clear: This has the potential to be the single most significant economic development in our state’s history.

The Port Corpus Christi Commissioners have agreed to sell the Former US Naval Station Ingleside to Canyon Supply and Logistics – a special purpose company that supports the oil and gas companies in the Western Gulf of Mexico. Developing the facility for offshore logistics logistics for the oil and gas industry.

http://www.portofcc.com/images/pccpdfs/news/2011/Canyon-NSIsale02-2011.pdf

Anadarko Petroleum has signed a $1.55bn deal with the Korea National Oil Corporation for one-third of the US group’s interest in the Maverick Basin assets, located in the highly sought-after Eagle Ford shale of Texas.

http://www.ft.com/cms/s/0/3292ed50-53f9-11e0-8bd7-00144feab49a.html

Says 10-year agreement with two producers in the Eagle Ford shale

* Deal to provide 50,000 bpd capacity on under-construction oil pipeline

* Says pipeline to start operating in Q2 2012 (Follows alerts)

http://www.reuters.com/article/2011/03/22/enterpriseproducts-idUSL3E7EM35020110322

National Guard’s plan to acquire property in South Texas has some owners up in arms.

http://www.mysanantonio.com/business/article/Battle-now-looms-over-land-above-Eagle-Ford-1216508.php

Bering Exploration Inc. officials said Thursday the company leased mineral rights on 3,000 acres in the Eagle Ford shale in central Texas, estimating the area could hold up to 3 million barrels of oil. 

Read more: http://www.bizjournals.com/houston/news/2011/03/18/bering-leases-3000-acres-in-eagle-ford.html

The Eagle Ford Shale play in South Texas could be one of the largest domestic crude oil and natural gas discoveries in more than 40 years.

Read more: http://www.bizjournals.com/sanantonio/blog/2011/03/eagle-ford-oil-discovery-has-companies.html

Shale gas refers to natural gas that is trapped within shale formations. Shales are fine-grained sedimentary rocks that can be rich sources of petroleum and natural gas. The production of natural gas from shale formations has rejuvenated the natural gas industry in the United States.

http://www.eia.doe.gov/naturalgas/

The red-hot Eagle Ford natural gas and oil drilling play is ginning up the South Texas economy to such an extent that “there hasn’t been this type of capital infusion” since the 1880s, says a San Antonio business executive.

Read more: http://blogs.star-telegram.com/barnett_shale/2011/03/eagle-ford-play-pumps-south-texas-economy.html#ixzz1GoCFPmrb