Shale Market
With the price of oil hovering at 6 year lows, some good news is coming from shale markets in the U.S. The two largest suppliers in the shale oil futures market, West Texas and North Dakota produce...
View ArticleBOEM Announces 40 Million Acres Gulf of Mexico Lease Sale
Bureau of Ocean Energy Management (BOEM) director, Abigail Ross Hopper, announced on Sept 14 that 40 million acres offshore Louisiana, Mississippi and Alabama will be included in the Gulf of Mexico...
View ArticleUS Department of Energy Job Opening
Senior Executive Service (SES) position of Director, Office of Research, ES-801, in the Office of the Deputy Assistant Secretary for Oil and Natural Gas, U.S. Department of Energy, located in...
View ArticleCongress Mulls Lifting the Export Ban
U.S. Senators in favor of lifting the 40 year old ban on oil exports are facing a challenge. Senator John Hoeven, North Dakota Republican wants the ban lifted to keep the U.S. oil boom alive, but...
View ArticleDrilling Rig Count Down for 3rd Consecutive Week
Week oil prices caused U.S. producers to cut oil rigs for the third week in a row, an indication that drilling plans announced several months ago are on hold. Baker Hughes reports that over the past...
View ArticleSpeculation on Oil Prices
The Federal Reserve’s decision late last week not to raise key U. S. interest rates, sent the stock market on another round of speculation. David Pursell, a managing director at investment bank Tudor...
View ArticleOil Price Responds to Declining Rig Count
The London exchange showed oil prices up over 2% on Monday morning, responding to a report that U.S. drilling rates had slowed and an estimated $1.5 trillion of planned production has been deemed...
View ArticleOil Nears $50 per Barrel
On Wednesday the London Brent crude oil price rose to $49.76, and U.S. light crude was up by $.40 to $46.76. The drawdown in U.S. crude oil stocks was the key factor in the rising oil price. API...
View ArticleRefracing to Maintain Production
The newest strategy to maintain production may be refracing producing wells instead of drilling new wells. Shale wells have a steep decline rate, and unconventional resource recovery averages only...
View ArticleSaudi Beginning to Feel the Pinch
The good news for U.S. producers is that Saudi Arabia is also impacted by the lower price of oil. Oil has remained below $60 a barrel all 2015, and in the past 6 months Saudi has had to withdraw nearly...
View ArticleHalliburton Sees a Positive Future
As oil production declines it becomes apparent that the “current rig count isn't high enough to sustain production…the implication is that at some point rigs will need to go back to work, because even...
View ArticleOil Price on the Rise
Oil analysts are announcing that slowing production and falling rig counts may be the beginning of a bull market for oil prices. West Texas Intermediate rose to $45.71 per barrel on Friday, September...
View ArticleIndonesia to Rejoin OPEC
At the December 2015 OPEC meeting, Indonesia will be welcomed as a returning member nation. OPEC has produced far more than their 2015 target of 30 million barrels of oil per day with record increases...
View ArticleKuwait Predicts Oil Price Will Rise
In an interview with Reuters news Kuwait’s Oil Minister, Ali al-Omair noted that economic growth and the loss of many high-cost producers has tightened global oil and OPEC forecasts a higher oil demand...
View ArticleNiobrara Play Comes of Age
The Niobrara-Codell shale in the Denver Julesburg Basin continues to generate among the highest returns in unconventional energy. In the past couple of years the “Niobrara has firmly emerged from...
View ArticleShale Oil Industry in Retreat
Surveys taken by consultancy, Wood Mackenzie, indicate that one third of U.S. production, excluding Alaska and Hawaii, “comes from companies that have borrowed against their oil and gas reserves.”...
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