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End of Cheap Gas?
The shale revolution resulted in a surplus of natural gas from both gas fields, such as Pennsylvania’s Marcellus shale, and oil fields, such as the Eagle Ford of South Texas. Predictably prices stabilized at modest levels and any temporary shortages were easily addressed by drawing down on inventories, or increasing production. However, this is all… Read More
Water Solution?
Anything that is too good to be true usually is. Consequently, I read a recent article in “World Oil” with a heavy dose of skepticism. The article, apparently based on a press release from Fairmount Santrol, extolls the virtues of a new proppant transport technology for use in fracking. This new product, SSP 350, apparently… Read More
Small-Scale LNG
When markets are free to innovate and exploit opportunities they tend to do so. A good example is the domestic natural gas market. The shale revolution resulted in extensive reserves of light oil and natural gas. The abundance of natural gas provided a stable supply but the sheer magnitude of reserves exerted downward pressure on… Read More
Signatories Satisfied (So Far)
“World Oil” reports that OPEC members Saudi Arabia, Kuwait, Qatar, Algeria and Venezuela, have met with their non-OPEC counterparts in Vienna. Apparently they have developed a mechanism to monitor compliance with the 24 nation agreement to cut back oil production by 1.8 million barrels of oil per day (bopd). According to Saudi Minister of Energy… Read More
So Far, So Good?
“Rigzone” reports that the International Energy Agency (IEA) feels that the oil production cutback agreement between OPEC and 11 other producing nations has entered its “probation period.” Nevertheless, preliminary indications are encouraging. Markets are tightening, prices are rising and demand is expected to increase. This could be partially offset by increasing production from parties that… Read More
