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Laredo Energy Tries its Hand at Oil
Traditionally a gas explorer and producer, privately held Laredo Energy, is now exploring for oil in East Texas according to a recent article in “Rigzone”. Funded by a cash infusion of $130 million from private equity sources, and motivated by soft natural gas prices, Laredo is targeting the oil prone Eaglebine shale in Brazos, Burleson… Read More
Decrease in Natural Gas Investment
For some time now, many industry observers have felt that interest in gas projects has been waning. Now, in an opinion piece in “Rigzone”, Richard Krijgsman of Evaluate Energy, claims there is empirical evidence of this trend. Since energy companies do not generally report their capital expenditures (CAPEX) separately for oil and gas, Evaluate Energy… Read More
U. S. Manufacturing Revival
“Rigzone” cites a recently released report by the U. S. Conference of Mayors which maintains that the recent growth in shale energy supplies has resulted in positive rippling effects on all sectors of the economy. This is especially true of those manufacturing industries which are energy intensive that saw an increase of 196,000 jobs from… Read More
Horizontal Wells: Pooling vs. Allocation
Marsha Breazeale with Contango Oil Company made an excellent presentation on this topic at the April meeting of the Houston Association of Division Order Analysts. The following is taken from her remarks, and is a simplified overview. As such, this is not intended to serve as legal advice or accounting policy. Rather, the intent here… Read More
Bakken Breaks Billion Barrel Barrier
The Bakken, and the underlying Three Forks, shales have produced over a billion barrels of oil in North Dakota and Montana since initial production in 2000 as reported by “Rigzone”. The formation which lies beneath these two states, as well as the provinces of Saskatchewan and Manitoba, spans 25,000 square miles. According to the U.… Read More
