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Upstream Oil and Gas Major Stimulus for U. S. Economy
“Rigzone” reports that a study by The Perryman Group, a consulting firm, found that the economic impact of upstream oil and gas more than doubled in the last ten years. The industry has grown at a rate of $1.2 trillion per year and contributed approximately 30% of the job growth during the economic recovery. This… Read More
Service Companies Anticipate Sand Shortage
The shale revolution has increased the demand for hydraulic fracturing or fracking services. “Rigzone” reports that some wells can require a trainload of sand during a frack job. Even with oil prices dropping recently, the demand for fracking, and consequently sand, continues unabated. The three largest service companies, Halliburton, Schlumberger, and Baker Hughes, all realize… Read More
Progress in Reducing Flaring of Bakken Gas
Excessive flaring has been a persistent problem for the state of North Dakota and operators in the Bakken Shale. While everyone is working together toward a solution, success has seemed elusive. Lack of gas gathering, processing and transportation infrastructure has been a significant factor. Further, as gas processing capacity comes on line, so do additional… Read More
Continental Confirms Springer Success
“Rigzone” reports that Continental Resources, Inc. has announced 4 more wells in the Springer shale play in the South Central Oklahoma Oil Province (SCOOP). The operator estimates that the Grady County wells will have an estimated ultimate recovery (EUR) of 940,000 barrels of oil equivalent each. The wells averaged a vertical depth of 12,625 feet… Read More
Fracking Ban on November 4 Ballot in Denton, TX
In a previous post I mentioned the controversy in a Denton, TX, City Council meeting regarding a proposed ban on fracking within the city limits. The council chose to defer a decision and put it on the November 4 ballot. While the outcome of this referendum is unknown, a recent article in “Rigzone” offers legal,… Read More
