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Fourth Quarter Shortage?
In spite of a wealth of evidence to the contrary, some industry observers are predicting that the world oil market will shift from surplus to shortage by the end of this year. “Rigzone” reports that Standard Chartered Bank foresees this shift despite a current glut of 2 million barrels of oil per day (bopd). Apparently,… Read More
Bakken Core Still Viable
The Bakken shale of Montana and North Dakota has lost the majority of its oil drilling rigs much like the rest of the country. However, operators in all the major shale plays are retreating to the “core of the core” in an effort to maintain production and profitability. In a recent post I cited an… Read More
Shale Revolutionizes LNG Market
While the oil related impacts of the shale revolution are profound and well documented, the effect of shale gas on energy markets has been relatively modest. When there have been spikes in demand for natural gas, shale volumes have entered the market pre-empting or mitigating any price increases. However, a recent article in “World Oil”… Read More
A Tale of Two Cities
“It was the best of times, it was the worst of times.” So begins the famous novel by Charles Dickens describing London and Paris respectively at the close of the 18’th century. According to a recent article in “World Oil”, the same could be said about Karnes City and Smiley, Texas. Both of these small… Read More
Service Sector Consolidation
Since crude prices collapsed last fall the energy industry has fallen on hard times, and no segment of the industry has been harder hit than the service companies. According to a recent article in “World Oil”, operators have cancelled over $100 billion in capital spending which has resulted in almost a 60% drop in active… Read More
