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IPAA Update
Mark K. Miller, Chairman of the Independent Petroleum Association of America (IPAA), was the guest speaker at the April meeting of the Houston Association of Professional Landmen. Founded in 1929, the IPAA has been the leading advocate for independent oil and gas producers in the U. S. The organization is basically a lobbying group and… Read More
$120 by 2018?
In a recent article posted on “Real Money”, Daniel Dicker makes the case for $120 oil by 2018, and double digits by the end of next year. While this is by no means a consensus view, the author makes an interesting case based on generally accepted supply and demand forecasts, and enhances this with his… Read More
Shrinking Surplus
As recently as February, the International Energy Agency (IEA) had been warning that the global oil surplus could drive prices down even further. Now, “World Oil” reports that as lower prices are taking their toll, non-OPEC production is slipping to the point that markets could start moving toward equilibrium in the second half of this… Read More
Rigless Gas Producers
“World Oil” reports that the number of drilling rigs looking for gas has dropped to the lowest level in almost three decades. Not since 1987 has the gas rig count been so low. In 2008 it was more than 1,600; now it is 88. Southwest Energy, the third largest domestic gas producer, has stopped drilling… Read More
Fooled by the “Freeze”
“World Oil” reports that Ole Hansen, the head of commodity trading at Saxo Bank A/S, sees the current oil market as being distracted by the sideshow that is a possible crude production “freeze”, and missing the main attraction which is U. S. drilling and production. Oil traders seem to be bidding up the price of… Read More
