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LNG Growth
“World Oil” cites a recent report by Global Data which projects global Liquefied Natural Gas (LNG) capacity more than doubling by 2019. Current capacity of 341 million tonnes per year (mtpa) is expected to grow to 811 mtpa based on projects already scheduled for construction. This global trend is led by unprecedented growth in North… 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
Oil Rig Count Rises as Prices Fall
According to an article in “Rigzone”, the Baker Hughes oil rig count rose last week for the fourth straight week. However, mobilization of these rigs was a result of plans developed back in May and June when it looked like prices were stabilizing. This disconnect between rig count and prices is primarily attributable to the… Read More
Exxon Sees the Bottom?
ExxonMobil is well known for financial conservatism and exhaustive analysis. The company announced that it has recently acquired 48,000 acres offsetting properties operated by its domestic subsidiary, XTO Energy, Inc. This acquisition, via two separate transactions, is not big news in and of itself. XTO already has 1.5 million acres in the Permian basin, which… Read More
