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Texas Petroleum Index Reaches an All-Time High
The Texas Petroleum Index (TPI) established a new high in June, according to an article in “Rigzone”. The TPI is a composite based on a comprehensive set of indicators including oil price, rig count, drilling permits, well completions, oil and gas production volumes, and other factors. The June, 2014, index of 308.4 is 7.3% higher… Read More
Crude Prices Rise while Natural Gas Prices Fall
The domestic price of crude oil closed today above $104 per barrel for the first time since July 3, according to “Rigzone”. This reflects an increase of over $1 per barrel for three of the last four trading days. August deliveries rose $1.46 to $104.59, a 4.6 percent increase over the last 4 trading days… Read More
Marcellus Drives Shale Gas Revolution
With production of 12 billion cubic feet per day (Bcf/d) the Marcellus shale is the premier shale gas play, not only in the U.S., but in the world, according to a recent article in “Rigzone”. Further, Wood MacKenzie, a consulting firm, predicts Marcellus production of more than 20 Bcf/d by 2018. These gains will be… Read More
State Severance Taxes: An Overview
The shale revolution is bringing increased oil and gas production to many states. Some, like Texas, Oklahoma and Louisiana are old hands at regulating and taxing large volumes of these resources. For others, such as North Dakota and Pennsylvania, dramatic increases in volumes of oil and gas produced offer new opportunities and challenges. Predictably, severance… Read More
Shell Bearish on Gas Export Projects
Recent large natural gas discoveries have led to a number of Liquefied Natural Gas (LNG) projects in North America, Australia, East Africa and the eastern Mediterranean. Shell had been a major player in many of these. However, the company now believes that the economics of these projects are in question and is revising its investment… Read More
