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First Domestic Crude Export in Decades
On Friday, December 18, President Obama signed into law legislation lifting the crude oil export ban which had been in effect since 1975. Enterprise Products Partners has wasted no time in acting on this new opportunity. The following Wednesday, December 18, the company announced its first export cargo of 600,000 barrels. The crude is scheduled… Read More
Induced Earthquakes
“Rigzone” reports that the Oil and Gas Division of the Oklahoma Corporation Commission has ordered a halt to operations at 2 disposal wells and curtailed injection volumes at 23 others in the Cherokee-Carmen area of the state. This action was prompted by concerns that injection activity was causing earthquakes. The United States Geological Survey (USGS)… Read More
Natural Gas as a Bridging Fuel
“World Oil” reports that Elisabeth Torstad, CEO of consulting firm DNV GL, asserts that natural gas will play a major role as we transition to a safer, more sustainable, energy supply. Meanwhile, she expects global demand for energy to increase by 50% by 2050. However, she contends that the market needs to become more efficient.… Read More
DUC Inventory
A recent article in “Rigzone” points out that drilled but uncompleted (DUC) wells, also known as the “fracklog”, are a normally occurring phenomenon. This is because there is often a lag between the time when the well is drilled to total depth, and when it is completed and placed on production. What is abnormal is… Read More
Future Shortage?
According to a recent article in “World Oil”, Jarand Rystad, managing partner at consulting firm, Rystad Energy, there will be a future oil shortage based on the cutbacks in the oil field service companies. Rystad’s research indicates that we need to replace 34 million barrels of oil per day every year to keep abreast of… Read More
