INDUSTRY NEWS
Thousands of acres sealed off following blowout at Eagle Ford Shale well
The accident happened at a Devon Energy natural gas well near Cotton Patch Road and FM 952 in DeWitt County early Friday morning. No injuries were reported but authorities evacuated rural families living within a two-mile radius of the blowout, which sent natural gas and other pollutants spewing into the sky and surrounding countryside.
Democrats Just Accidentally Sparked A Federal Fracking Boom
Senators Bernie Sanders and Elizabeth Warren have both promised to ban hydraulic fracturing. As president, neither would be able to outright ban the practice entirely, as it would require an act of Congress. But their ability to disrupt the use of fracking on federal lands would be much greater.
The incredible collapsing ‘#ExxonKnew’ climate change lie
The claim: Exxon had long known that consuming oil would cause global warming but hid the facts. In fact, the company for decades published findings closely matching mainstream science. No one has ever produced any evidence of a coverup.
Permian Water Project Secures Financing
A pipeline project that would transport non-potable reclaimed water from Lubbock, Texas, to industrial customers in the Permian Basin has cleared an important hurdle.
The Counterintuitive Cure For Low Oil Prices
Demand for oil-based products has gone from 75 million per day in 1999 to 101 million barrels per day in 2019. So, simple math [(101-75)/20] tells us that we need to add about 1.3 million barrels per day of new supply each year. There is no evidence of “Peak Demand”.
Chevron Sees Boom Boom Boom Permian
Steve Green, president of Chevron’s North American business, was insistent that the world’s biggest shale patch won’t be susceptible to historic boom-and-bust cycles that have dominated the Texas oil economy for decades. His booming nod to continuing good times came Tuesday during a panel discussion at the Lone Star Energy Forum in Austin.
The Complete History Of Oil Markets
Like most other commodities in the markets, crude oil prices have routinely experienced wild price swings alternating between times of great shortages, high demand and high prices and periods of oversupply, low demand and depressed prices. These so-called crude oil “Price Cycles” tend to last several years, depending on variables such as oil demand, volume of oil drilled, processed and sold by the major producers.
Conventional Discovery Shortfall Demands Well Diversity
Over the past decade, the U.S. oil and gas sector has emphasized developing short-cycle-time unconventional projects rather than wildcat drilling that targets potentially more bountiful conventional plays.
Texas cities threaten to sue over Kinder Morgan pipeline
Citing concerns about seven endangered and threatened species found only in the Edwards Aquifer, the cities of Austin, San Marcos and Kyle have joined two groups in a threat to sue two federal agencies in order to stop Kinder Morgan's Permian Highway Pipeline from going through the Texas Hill Country.
Iran President Vows Revenge For Oil Tanker Attack
Bloomberg reports that the Iranian President also said government officials had seen footage of the attack and it suggested several rockets had been launched at the vessel. Rouhani did not say who Tehran believed the culprit was but did note that it looked like the party behind the attack was a government rather than a terrorist group.
Saudi Arabia Denies Any Involvement In Iran Tanker Attack
“We did not engage in such behaviour at all. This is not how we operate and that’s not how we did (it) in the past,” Saudi Arabia’s foreign minister, Adel al-Jubeir, told media in response to questions about the Iranian tanker Sabiti.
The Real History Of Fracking: Oil, Bombs And Civil War
Surprisingly, fracking can be traced back to 1862. It was during the battle of Fredericksburg VA., where Colonel Edward A.L. Roberts discovered something incredible when firing explosive artillery into a narrow canal that was blocking the battleground. The breakthrough was then described as 'superincumbent fluid tamping.'
Texas Pipeline Expansion Would Avoid Aquifer
Besides providing new Permian crude takeaway capacity, the pipeline will help EPD to optimize its entire four-pipeline Midland to ECHO system, the company stated. It noted that it expects to achieve $60 million in annualized cost savings primarily by significantly reducing the use of costly drag-reducing agents and managing pump operations.
U.S. Natural Gas Reserves Continue To Soar
Ever since the U.S. shale revolution took flight in 2008, it's been a consistent theme: not just rising natural gas production but also rising proven natural gas reserves. In fact, over the past decade, the U.S. Department of Energy reports that our proven gas reserves have ballooned nearly 85% to almost 450 trillion cubic feet (Tcf). It's all turned the previous pre-shale notion that reserves were dwindling and production was in permanent decline on its head.
Drilling Down: Independents versus majors in Permian Basin
Scale is becoming more important in making the West Texas shale play economic, a factor which has large independents and oil majors jockeying for dominance by filing ever-larger batches of drilling permits.
OPEC output suffers biggest drop in 16 years on Saudi attacks
Supplies from the cartel’s 14 members plunged by 1.59 million barrels a day to 28.32 million a day, according to a Bloomberg survey of officials, ship-tracking data and estimates from consultants including Rystad Energy AS, JBC Energy GmbH and Energy Aspects Ltd. It’s the biggest monthly drop since labor strikes briefly paralyzed Venezuela’s oil industry in 2002.
Texas Beats Goal for Cleaning Abandoned Oilfield Sites
The Railroad Commission of Texas (RRC), which regulates the exploration, production and transport of oil and natural gas in the Lone Star State, reported Friday that it has more than doubled its Fiscal Year (FY) 2019 goal for cleaning up abandoned oilfield sites.
Scientists Find Cheaper Way Of Tapping Shale Gas Resources
Unlike the usual way of exploring for new reserves, which relies on existing production data along with geological tests, the Penn State method leans on historical production data, and from a lot more wells than usual.
Saudi oil attacks an ‘act of war’ by Iran, not Yemen rebels, Pompeo claims
Pompeo, speaking from Jeddah, Saudi Arabia, added that even if the "fraudulent claims" of responsibility by the Yemen Houthi rebels were true, "it doesn't change the fingerprints of the [Iran Supreme Leader Ayatollah Ali Khamenei] as having put at risk the global energy supply."
Pro-Oil T-shirt Too Political For Canadian Parliament…Again
The National Post reports a couple from Calgary, Chris Wollin and Mallory Hartviksen, were on a visit to Ottawa and decided to go on a tour of the House of Commons. Both were, apparently, wearing T-shirts that said “I love Canadian oil and gas.” According to Chris Wollin, “a security guard came over to us and said ‘Just so you know if you come back for a tour, you can’t have those shirts on because they are too political.’”