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Bakken’s Future
“Rigzone” reports that Harold Hamm, the Chairman of Continental Resources, told attendees at the Williston Basin Petroleum Conference that the Bakken shale could produce 2 million barrels of oil per day (bopd) by 2020. However, he also cautioned that safety concerns could jeopardize this promising potential. Hamm is considered by many the “godfather” of the… Read More
Horizontal Drilling Foothold in Permian Basin
Vertical drilling has been the principal method used in the Permian Basin. However, data recently released by the U. S. Energy Information Administration indicates that as of early 2013 this started to change, and by year-end horizontal drilling was becoming more widely practiced. Apache Corp., one of the most active players in the Permian, had… Read More
Shell Sells to Sanchez
Royal Dutch Shell announced the sale of its Eagle Ford shale acreage, reserves, facilities and infrastructure to Sanchez Energy Corp. according to a recent article in “Rigzone”. This includes 100% working interest in approximately 106,000 net acres in Dimmit, LaSalle and Webb counties in South Texas. The sale, which is effective the first of this… 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
