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Much Sound and Fury Signifying Nothing?
At least one industry observer sees the recent agreement to cut production as having “…no significant impact on the direction of oil markets in 2017 and beyond.” In a recent article in “Oil Voice”, author John Richardson makes his case that oil markets in the future will be weaker, rather than stronger, unless there is… Read More
Chesapeake Sells Haynesville Assets
“World Oil” reports that Chesapeake Energy has sold a portion of its acreage and production in North Louisiana’s Haynesville shale. Proceeds from the sale to a private company will total $450 million. Chesapeake is divesting 78,000 net acres, 40,000 of which are considered core acreage. The assets are currently producing approximately 30 million cubic feet… Read More
$75 in 2017?
The agreement between OPEC and non-OPEC countries to reduce production was cheered from Midland to Kuala Lumpur. A recent article in “Rigzone” provides some details of the agreement and insight as to the implications. While some industry observers contend that the market was already starting to rebalance, the accord is clearly a significant development. Many,… Read More
IEA’s View
Apparently, the International Energy Agency’s (IEA) forecast for oil prices depends on how far you look into the future. According to a recent article in “World Oil”, Fatih Birol, the agency’s executive director, sees the answer differently depending on timing. Oil prices responded favorably after the OPEC meeting on September 28, when producing nations agreed… Read More
Wolfcamp Riches
There is little doubt that the Permian Basin has become the epicenter of the domestic upstream oil and gas industry. A recent article in “World Oil” reinforces this perception quoting a report by the U. S. Geological Survey (USGS) which estimates that the Wolfcamp formation alone contains 20 billion barrels (Bbbl) in four strata beneath… Read More
