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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
Geopolitics and Energy
“Stratfor Global Intelligence” recently featured a well-researched and interestingly written article by Robert D. Kaplan entitled “The Geopolitics of Energy”. According to Kaplan, every international order in modern times has been based on an energy resource. He cites the British Empire and coal, and the US and petroleum as examples. He postulates that the shale… Read More
Bakken to Surpass 1 Million Barrels per Day Milestone
Research and consulting group Wood Mackenzie projects that the Bakken and Three Forks shale will produce 1.1 million barrels of oil per day (bopd) during 2014, according to a recent article in “Rigzone”. Oil production is forecast to pass the 1 million bopd mark in June and ultimately peak at 1.7 bopd in 2020. However,… Read More
Apache Part of an Emerging Trend?
According to a recent article in “Rigzone”, Apache Corp. plans to sell natural gas assets in Western Alberta and British Columbia for $374 billion in order to concentrate on more lucrative liquids production. This comes on the heels of Encana’s sale of gas assets for the same reason. The Apache sale involves dry gas wells… Read More
