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Energy Security
A recent article in “Rigzone” discussed the link between energy security and foreign policy. Commentaries by industry experts, analysts and leaders were featured and all were insightful and provocative. However, I found the remarks of Occidental Petroleum’s Ed Djerejian especially interesting. Djerejian is the founding chairman of Rice University’s Baker Institute and recently addressed the… Read More
Fracing and Water Supplies
There is no denying that fracing uses a great deal of water. While each job is different, it is estimated that 4.5 million gallons of water per well is typical. The EPA estimates that between 70 and 140 billion barrels were used to stimulate 35,000 wells. This sounds like a great deal of water, but… Read More
Small Companies Anticipate an Improving Natural Gas Market
According to a recent article in “Rigzone”, severe winter weather resulted in natural gas stockpiles at their lowest levels since 2003. Small energy companies see this as a harbinger of higher prices and increased profitability. Swift Energy Company is already seeing improved financial performance by its properties in the Eagle Ford Shale in South Texas. … Read More
EIA Reserves Report for 2012
“Rigzone” reports that according to the U.S. Energy Information Administration (EIA), domestic oil reserves reached their highest levels since 1976. Proven (technically and commercially recoverable) oil reserves were boosted by shale plays in Texas and North Dakota, but gas reserves tumbled. Oil reserves increased by 6.9 billion barrels due to new discoveries, extensions of old… Read More
Reversing Global Energy Flow
“Rigzone” recently reprinted an opinion piece by John Kemp of Reuters. Kemp maintains that thanks to the shale revolution and improved automotive fuel efficiency, the global flow of energy has reversed. Net imports of crude oil into the U.S. were 11.2 million barrels of oil per day (bopd) at the beginning of 2009. However, by… Read More
