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Dollar Bedevils Oil Price
The world-wide oil glut has been blamed for the collapse in oil prices and justifiably so. “World Oil” points out that Goldman Sachs has recently forecast $20 oil based on oversupply and the risk of running out of domestic storage capacity. According to the U. S. Energy Information Administration the major domestic terminal at Cushing,… Read More
Stripper Survival
Historically “stripper” wells have been defined as those which produce less than 10 barrels per day. The traditional wisdom is that the small operators who produce these wells are the most vulnerable to downturns in the oil market. However, a recent article in “Rigzone” points out that despite low production volumes, limited access to capital,… Read More
LNG Startup
Times have really changed. This week the first crude exports in 40 years will leave Texas ports. “Rigzone” reports that the first Liquefied Natural Gas (LNG) cargo to leave the Lower 48 is scheduled for later this month as well. All of this is a result of the shale revolution. ING Capital LLC has announced… Read More
Effect of Crude Exports
On the heels of the Arab Oil Embargo of 1973, the crude oil export ban seemed to make sense. With an acute oil shortage it seemed reasonable to keep as much at home as possible, when a great deal of our supply was dependent on Arab nations intent on punishing us for our support of… Read More
Shale’s Future
Innovation and creativity have typified the shale revolution since its inception. Conceived in the union of horizontal drilling and advances in hydraulic fracturing, a new industry was born. Consequently, previously known, but uneconomic, reserves were finally productive. With prices over $100 per barrel the boom was on. When prices dropped to $50 per barrel, shale… Read More
