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U. S. Rig Count Drops
The drop in oil prices is taking its toll on the number of rigs drilling for oil and gas. According to a recent article in “Rigzone”, Baker Hughes announced that last week the oil rig count dropped to 1,536, the lowest since May. There has been a fairly steady decline since the record high of… Read More
Natural Gas Market Dynamics
With all the recent attention given to the oil price collapse, relatively little notice has been given to natural gas prices. While international geopolitics exert a major influence on oil prices, natural gas tends to be more domestically focused. As with any market driven price, supply and demand are the ultimate determinants. However, many factors… Read More
Exxon CEO Predicts Shale Shakeout
Exxon CEO, Rex Tillerson, stated in an interview with CNBC that a “sorting out” of shale operators will be the result of recent crude price declines. However, he said that Exxon is a big investor in shale in the U. S. and is increasing its exposure. He feels confident in the future of shale and… Read More
Investment in Oil and Gas Technology
“Rigzone” cites a study by Lux Research which found that from 2003 to 2013, investment in oil and gas technology has focused on unconventional, deepwater, tight and heavy oil resources. During this period, $7 billion has been invested in new technologies, primarily involving drilling and completions in unconventional plays. However, the focus seems to be… Read More
The Future of Thermal EOR
“Rigzone” recently published a three part series of articles on Enhanced Oil Recovery (EOR) the first two segments dealt with CO2 and Chemical EOR. This third and final installment, written by Matthew Jones with the research firm Visiongain, deals with Thermal EOR. Thermal EOR involves the introduction of heat (typically steam) into a reservoir to… Read More
