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Iran’s Plans
“World Oil” reports that Iranian Oil Minister, Bijan NamdarZanganeh, has stated that his country will raise its oil production just as soon as internationally imposed sanctions are lifted. He contends that failing to do so would mean permanently relinquishing market share. Among OPEC countries, Iran was second only to Saudi Arabia in terms of production… Read More
Global Energy Deals
When oil prices started collapsing in late 2014 many industry observers speculated as to when a wave of mergers and acquisitions (M & A) in the energy sector would begin. According to a recent article in “Rigzone” the move toward combinations is now in full force. With prices now about two-thirds off their highs of… Read More
IEA Forecast
A recent article in “World Oil” cites the latest forecast from the International Energy Agency, the advisor to 29 oil consuming nations. The report predicts that record world-wide oil inventories will persist through 2016 in spite of surging demand and falling non-OPEC production. In fact, the agency foresees global stockpiles building even further. Predictably, prices… Read More
Bakken Viable at $30?
According to a recent article in “Rigzone”, some parts of the Bakken shale in North Dakota are still viable economically at an oil price of $30 per barrel. This is less than half what was previously thought. By “retreating to the core” of structures higher volume wells are possible, which can spread drilling and completion… Read More
Optimism Persists in Some Quarters
Oil analysts, like most of us in the industry, are optimists as documented in a recent article in “Rigzone”. This was true even back in June of last year when oil was over $100 per barrel and no one foresaw the price collapse. This optimism persists even today as oil prices dipped to $41.94 at… Read More
