Pulling some numbers out of the rabbit hat that is the monthly EIA report:
Archive for the ‘Uncategorized’ Category
By John Kingston | January 30, 2014 04:25 PM Comments (2)
By Cathy Landry | April 25, 2011 02:19 PM Comments (0)
The oil rig count — that is, the number of rigs that are expressly drilling for oil rather than natural gas — finally did two important, if expected, things late last week.
Not only did it surpass the natural gas rig count for the first time since 1993, but the number of rigs drilling for oil exceeded 900 for the first time ever since the Baker Hughes rig count began keeping such statistics in mid-1987.
By Beth Evans | April 21, 2011 01:46 PM Comments (0)
Comparing indications of petroleum demand on a month-to-month basis is always fraught with potential pitfalls. Bad weather could have been a feature of one of the months; there could be a holiday in there; the list is endless. So year-on-year comparisons are considered more significant.
Except this month, when looking at Chinese demand, it can’t help but be noticed that Chinese demand in March was a little less than February. An end to the relentless increases in demand has been predicted by many; the data is never there to back it up. So those bearish soothsayers looking for a little redemption may find this month’s Platts estimate to be interesting. You can see it here.
By Margaret McQuaile | April 20, 2011 10:49 AM Comments (0)
New technologies are having a dramatic impact on a couple of key measures for US E&P efficiency according to a recent report by Oppenheimer’s Fadel Gheit, who finds reserve replacement rates rising as finding costs are falling.
His study analyzes the reserve profiles for a group of 14 key E&Ps through 2010, noting that their combined reserve replacement rate averaged 413% last year, up from 311% in 2009, while their finding and development costs fell 4% to a natural gas-equivalent average of $2.01/Mcf from a level of $2.10 in 2009.
By Tim Worledge | April 19, 2011 07:12 AM Comments (0)
No one in India seems to want to be the one to make a decision on the $9 billion Cairn-Vedanta deal.
Eight months after Cairn Energy announced its intention to sell its stake in Cairn India to Vedanta Resources, the fate of the deal still hangs in balance.
By Beth Evans | April 18, 2011 09:32 AM Comments (0)
With the excitement surrounding shale gas having spurred a bit of a problem — too much of it — every company in the world says it is turning its focus to the liquids coming out of the ground.
In this week’s Platts Oilgram News column, “PetroDollars,” Gary Taylor explains how one company that’s been out in the gas fields for a long, long time, has been handling the shift, and what analysts think about it.
By Cathy Landry | April 15, 2011 05:25 PM Comments (0)
The US’ Bakken Shale oil field, which spans Montana and North Dakota, has become so prolific that at least one big independent operator there estimates industry’s output potential there at a whopping 1.2 million b/d by year-end 2016.
That’s a heck of a lot of oil for a play that was barely breathing six or seven years ago. And that figure is even higher than the 700,000 b/d or so North Dakota officials were citing as a peak awhile back.
By Keith Tan | April 7, 2011 11:04 AM Comments (0)
Since cranking up permitting after the Deepwater Horizon disaster and subsequent drilling moratorium, US regulators are averaging just under two approvals a week. The Bureau of Ocean Energy Management, Regulation and Enforcement has signed off on nine drilling permits and one exploration plan since it gave the first one to Noble Energy on February 28.
How quickly will these companies start piercing the seafloor again? ExxonMobil said it’s a matter of weeks before contractor Maersk Drilling can have a rig ready to go at its Keathley Canyon Block lease.
“We have a newly built, state-of-the-art drilling rig standing by and we are prepared to spud the well within a few weeks,” ExxonMobil spokeswoman Margaret Ross said March 24.
By David Ruisard | April 4, 2011 10:04 AM Comments (1)
The natural gas industry in West Virginia was rocked March when 20 members of the 100-member West Virginia House of Delegates asked Governor Earl Ray Tomblin to impose a moratorium on new Marcellus Shale drilling permits.
By Alessandro Vitelli | March 31, 2011 03:16 AM Comments (0)
The mood was buoyant among the 120 or so Shell employees and external stakeholders who gathered Sunday in the company’s hospitality suite to watch the Australian Formula 1 Grand Prix in Melbourne, despite the fact that both drivers from the oil giant’s sponsored team, Ferrari, failed to make the podium.
The source of the excitement? Certainly not the prospects for Shell’s two Australian oil refineries at Clyde and Geelong, whose long-term future in the highly competitive Asia Pacific refining sector is generally conceded to be bleak.