Our Blog
Capital Spending Decreases, but Reserves Increase
A recent article in “Rigzone” cites a study by Ernst & Young which found that while capital expenditures (CAPEX) are falling, oil and gas reserves are rising. The study selected the 50 largest oil and gas companies, based on year-end 2013 reserves, and divided them into three categories: independent, large independent, and integrated. The decrease… Read More
Whiting Buys Kodiak
According to a recent article in “Rigzone”, Whiting Petroleum Corp. will acquire Kodiak Oil & Gas Corp. The combined entity will be the largest producer in the Bakken Shale in North Dakota, a position previously held by Continental Resources, Inc. Whiting is paying an estimated 5% premium to acquire Kodiak, but feels that the synergies… Read More
Permian Basin Surpasses Gulf of Mexico
Oil production in the Permian Basin increased from 850,000 barrels of oil per day (bopd) in 2007 to 1,350,000 in 2013 according to “Rigzone”. This 60% increase is primarily attributable to new production from the Sprayberry, Wolfcamp and Bone Spring formations, and to a lesser degree incremental output from the Glorieta, Yeso and Delaware, all… Read More
Goodrich Drills Ahead in Tuscaloosa Marine Shale
Goodrich Petroleum has completed its Beech Grove 94H-1 well in East Feliciana Parish, Louisiana, according to an article in “Rigzone”. The well tested at 672 barrels of oil and 412 MCF of gas per day. The well’s 6,000 foot lateral leg was completed with 21 frac stages. Goodrich is also in the process of completing… Read More
Statoil’s Innovative Solution to Bakken Flaring Problem
The Bakken shale in North Dakota is one of the premier unconventional oil plays in the world. Unfortunately, the large size of the structure, the rapid rate of development, and the lack of infrastructure and regulatory framework have all combined to make flaring an acute and persistent problem. To put the issue in perspective, less… Read More
