INDUSTRY NEWS
Second shale revolution is on the horizon
Now a second revolution is on the horizon as operators prepare to re-enter those wells that launched the first revolution and implement secondary recovery projects. That can consist of operators reinjecting gas into the reservoir to restore pressure and then producing the additional crude and natural gas.
Exxon Mobil Did Not Suppress Climate Science, Federal Judges Say
New York State attorney general Eric Schneiderman's climate fraud investigation into Exxon Mobil was dealt a notable, albeit indirect, blow in recent weeks as two different federal judges took issue with two of the legal arguments that have served as grounds for the investigation.
Texas LNG signs non-binding deals with Chinese, Southeast Asian buyers
They include five in China, two in southeast Asia and one in Europe, said Vivek Chandra, chief executive of Houston-based Texas LNG, declining to name the companies citing confidentiality reasons.
Climate Change Trial Starts on Rough Footing for Environmentalists
The "smoking gun" document in question proved to be a regurgitated summary of a 1995 report by the United Nations Intergovernmental Panel on Climate Change. At the time of its release, the report was subject to significant scrutiny by many in the scientific community because it was riddled with huge uncertainties.
Saudi Arabian companies plan massive Houston-area investments
Saudi Arabia's premier energy companies are planning to invest billions of dollars in their Houston-area petrochemicals operations to take advantage of cheap natural gas feedstocks from West Texas shale fields.
Oil Prices Poised To Rise As Cycle Comes To An End
Oil price cycles tend to overshoot on both the upside and the downside. The price of oil never stays at the “Right Price” for very long because a small over-supply can push the price quite low and a small under-supply can cause a big price spike.
Oil Prices Poised To Rise As Cycle Comes To An End
Oil price cycles tend to overshoot on both the upside and the downside. The price of oil never stays at the “Right Price” for very long because a small over-supply can push the price quite low and a small under-supply can cause a big price spike.
Exxon Can’t Dodge State Climate Change Probes, Judge Says
Exxon claimed the evidence of political motivation includes meetings the attorneys general had with environmental groups and Schneiderman’s claim at the press conference that former President Barack Obama’s environmental agenda was being opposed by “morally vacant” forces.
The Bakken Is Booming Once Again
The Bakken was one of the first U.S. shale basins in which drillers started to pump oil via fracking. Its advantage is that the geology is better known than that of the Permian. Its disadvantage, compared to the Permian, is that its sweetest spots may have already been pumped out.
The Bakken Is Booming Once Again
The Bakken was one of the first U.S. shale basins in which drillers started to pump oil via fracking. Its advantage is that the geology is better known than that of the Permian. Its disadvantage, compared to the Permian, is that its sweetest spots may have already been pumped out.
Texas-Sized Gas Conundrum Plagues America’s Busiest Oil Play
The low-cost crude oil reserves buried in the Permian’s layers of shale have drawn explorers in droves, but roughly a third of the output from those wells is gas, according to RS Energy Group. As gas production from the play surges, however, pipeline capacity has failed to keep pace.
Concho Resources to buy RSP Permian in $8 billion West Texas merger
Perfectly positioned to capitalize off the Permian shale boom from its Midland home, Concho has grown rapidly as one of the leaders in domestic oil production. Concho was valued on Wall Street at more than $23 billion before the deal was announced Wednesday.
Oil Rig Competition Flares Up Amid Permian Boom
If the downturn taught drillers nothing else, it taught them to tighten their belts—to squeeze every last drop from what they already have. Gone are the loosey-goosey days of $100 oil. Drilling longer laterals is one of those ways that U.S. companies use to squeeze more oil from the rocks, by supersizing fracking, alongside with using more frac sand.
Mexico takes aim at its section of the Eagle Ford shale
Petróleos Mexicanos, known also as Pemex, said it signed an exploration and extraction contract with the Mexican subsidiary of Lewis Energy to invest $617 million in developing the Olmos field in the Mexican state of Coahuila.
At Houston energy conference, Texas is the focus of American oil optimism
The Permian Basin in West Texas is the driving force behind what some key energy players say is a coming milestone: The United States passing Russia as the world's top oil producer.
A Small Oil Field In Oklahoma Is Seeing Big Bets From Producers
A little-known shale oil play in Oklahoma is attracting more drilling and investment as rising output from newer wells is enticing companies to boost production beyond the giant Permian basin in Texas.
OPEC Deal In Jeopardy As Iran And Saudi Arabia Square Off
Iran and Saudi Arabia are at odds over what to do next with the OPEC agreement, a conflict that could sow the seeds of the agreement’s demise over the course of the next year.
Opening ahead for oil from Texas shale
The United States is producing more oil than ever and it’s only expected to keep growing in the coming years, soon surpassing Russia as the global leader. The Permian accounts for about 25 percent of U.S. crude volumes and that percentage should keep rising.
Increased Revenue Sharing Of Offshore Energy Makes Good Consumer Sense
Revenue sharing makes sense for several reasons. It would make it easier for coastal states to close their own budget gaps and pass along some of the revenue to coastal communities. This would help build public support for an expansion of offshore drilling, which would bolster U.S. energy production, increase domestic investment, create jobs, and generate additional revenue for the federal government.
A ‘Major Second Wave’ of U.S. Fracking Is About to Be Unleashed
The International Energy Agency (IEA) said in a new forecast this week that growth in U.S. oil production will cover 80% of new global demand for oil in the next three years. U.S. oil production is expected to increase nearly 30% to 17 million barrels a day by 2023 with much of that growth coming from oil produced through fracking in West Texas.