West Texas Crude is at Key Resistance Point
Trading of Test Texas Intermediate for September on the NYMEC exchange is at $49 per barrel for September. Goldman Sachs estimates that WTI prices could hit $45 per barrel in October 2015. In the short...
View ArticleOil Price Hits 6-month Low
Over supply and slowing demand from China caused the price of oil to hit the lowest level since March. Brent crude fell to $51.11 and U.S. crude fell 71 cents to $46.41. "Crude prices are on course for...
View ArticleOPEC Continues to Increase Output
In July 2015, OPEC production was 32.107 million barrels per day, slightly less than in June due to a cut in production from Iraq. However, Saudi Arabia's output rose by 70,000 bpd to 10.57 MMbpd in...
View ArticleSaudi Oil Price - Is it Backfiring?
Saudi Arabia, the world top crude oil exporter, was the prime reason for the drop in oil prices in 2014-2015. Their decision to increase production to starve out U. S. shale oil production caused the...
View ArticleRPSEA Onshore Technology Workshop & Field Trip
SAVE THE DATE RPSEA Projects for Small Producers and Hydraulic Fracturing A courtesy room block is available for October 27 & 28 at the Hilton Garden Inn Pittsburgh/Southpointe - $139 standard...
View ArticleRPSEA Onshore Technology Workshop
SAVE THE DATE Interactive Workshop Focusing on Induced Seismicity A courtesy room block is available for November 3 at the Houston Marriott South Hobby Airport - $142 per night; ask for RPSEA Onshore...
View ArticleCrude Oil at 6 Year Low
On August 19, West Texas Intermediate oil futures fell over 5% to a low of $40.87. The sharp decline was a reaction to EIA’s weekly report that showed U.S. “crude inventories rose by 2.6 million...
View ArticleChevron’s Response
Chevron has issued five statements on how the corporation is responding to the current market downturn. Tighter economics in the supply chain and more efficiency in shale drilling lead the list. “Cost...
View ArticleSaudi Arabia Is Losing Price War
A recent editorial notes that OPEC’s decision in November 2014 to increase oil production to put U.S. shale producers, has not worked as planned. Although many U.S. companies have been impacted, the...
View ArticleNatural Gas Prices Fall
Mild weather is contributing to reduced demand and falling prices for natural gas in the September market. “September natural gas futures contracts fell by 0.88% and settled at $2.70 per MMBtu (British...
View ArticleSome U.S. Fund Managers Still Bet on Oil
While most financial experts predict the end of big oil, a few U.S. Fund Managers continue to back oil stocks. Last week oil fell below $41 per barrel a 6 ½ year low price. The FPA Capital Fund, the...
View ArticleBakken Production Not Declining
Despite predictions and low oil prices, production from the Bakken play in North Dakota has not fallen. Bakken production to date has matched 2014 production and continues to rise. John Auers,...
View ArticleOil Prices Rise
West Texas Intermediate rose 7.5% to $41.50 on Thursday morning, Aug 27th. Earlier in the week the price fell to $38 per barrel. The American Petroleum Institute and Energy Information Administration...
View ArticleOil in Recovery
Oil prices plunged to a 6 and a half year low earlier this week and on Thursday surged upward nearly 10%. Thursday was the “biggest one-day rally since 2009 as recovering equity markets and news of...
View ArticleUtica Shale Production Sets Records in Ohio
Production from the Utica Shale in Ohio continues to bypass records from the previous 100 years. Currently there are 978 horizontal producing wells, up from 504 this time in 2014. In the second quarter...
View ArticlePotential Hurricane Impact Reduced by Shale Boom
The threat to U.S. domestic production from hurricanes is reduced due to the production from onshore shale plays. A report by the Energy Information Agency noted that sufficient oil is produced onshore...
View ArticleCrude Oil Price
After last week’s plunge and surge in oil prices, crude has traded in a narrow range. Brent crude is at $50.35 and West Texas Intermediate is at $46.23 on Thursday morning, Sept 3rd. Chinese oil...
View ArticleBSEE BAST Determination Process Presentation
On 12 November, at the Hilton Houston North (12400 Greenspoint Dr, Houston, TX, 77060); BSEE will present the Best Available and Safest Technology (BAST) Determination Process during sessions from 8AM...
View ArticleOPEC Says Shale Boom is Over
The latest monthly oil-market report by the 12-member OPEC oil cartel says that U.S. oil producers are finally beginning to feel the squeeze of lower oil prices. “In North America, there are signs that...
View Article