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OPEC’s Forecast
“World Oil” reports that OPEC has released its annual “World Oil Outlook” which includes their predictions for global demand, supply and prices. While the primary focus is from now until 2020, the report also includes projections out to 2040. The most recent OPEC forecast calls for demand for its crude sliding through 2020 as supplies… Read More
Natural Gas as a Bridging Fuel
“World Oil” reports that Elisabeth Torstad, CEO of consulting firm DNV GL, asserts that natural gas will play a major role as we transition to a safer, more sustainable, energy supply. Meanwhile, she expects global demand for energy to increase by 50% by 2050. However, she contends that the market needs to become more efficient.… Read More
DUC Inventory
A recent article in “Rigzone” points out that drilled but uncompleted (DUC) wells, also known as the “fracklog”, are a normally occurring phenomenon. This is because there is often a lag between the time when the well is drilled to total depth, and when it is completed and placed on production. What is abnormal is… Read More
Future Shortage?
According to a recent article in “World Oil”, Jarand Rystad, managing partner at consulting firm, Rystad Energy, there will be a future oil shortage based on the cutbacks in the oil field service companies. Rystad’s research indicates that we need to replace 34 million barrels of oil per day every year to keep abreast of… Read More
EIA Gas Forecast
A recent article in “Rigzone” summarized the latest natural gas forecast by the U. S. Energy Information Administration (EIA). While the 2015 forecast was revised slightly downward to 79.58 billion cubic feet a day (bcfd), it still surpasses the 2014 level of 47.89. However, with the current year all but over, I found the 2016… Read More
