Our Blog
Exxon Buys Permian Assets
Recent articles in “Oil Voice” and “Rigzone” provide details and perspectives for ExxonMobil’s (XOM) recent purchase of oil and gas assets from the Bass family of Ft. Worth. XOM acquired 275,000 acres of leasehold, 250,000 of which are in the Permian Basin, 3.4 billion barrels of oil equivalent (boe) reserves, and 18,000 boe per day… Read More
Saudis Optimistic
“Rigzone” reports that Saudi Oil Minister, Kalid Al-Falih, is confident that all the parties to the recent production cutback agreement will comply, demand will pick up, the global oil glut will disappear, and the market will re-balance by the end of the second quarter. If all this happens, prices will recover and he sees no… Read More
Discovery Recovery
“World Oil” reports that consulting group Wood Mackenzie predicts a revival in oil and gas exploration. Unfortunately, at this point, any signs of life would constitute a revival. When oil prices collapsed, operators slashed budgets and exploration was especially hard hit. When struggling to survive, exploration is the one place you can cut costs without… Read More
New Gas Markets
As a result of the shale revolution, the U. S. is blessed with extensive, easily producible, natural gas reserves. This abundance, and proximity to markets, has enabled producers to react quickly to any surges in demand without prices spiking. However, producers, transporters and utilities are trying to further monetize these reserves by developing new markets,… Read More
Induced Seismicity
In an article in “World Oil”, author William J. Pike discusses the issues around induced seismicity (man-caused earthquakes). While it is a current topic of discussion, recent studies indicate that it is really nothing new. An article in the Houston Chronicle by Alicia Chang cites studies by the USGS and the University of Texas at… Read More
