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U. S. Production to Grow through 2020
“Rigzone” reports that according to International Energy Agency’s (IEA) Medium Term Oil Market Report, production in the U. S. will continue to grow throughout this decade, but at a slower rate. The IEA based this on the assumption that crude oil prices will stabilize, but at levels significantly lower than those of the last three… Read More
SCOOP “On Par” with Eagle Ford and Bakken?
According to a recent article in “Rigzone”, consulting firm Wood Mackenzie says “yes”! In their most recent analysis they find that the core areas of the South-Central Oklahoma Oil Province (SCOOP) compare favorably with the Eagle Ford and the Bakken shales. This is partly because the SCOOP, which encompasses parts of the Anadarko and Ardmore… Read More
OPEC Sees its Strategy as Successful
“Rigzone” reports that OPEC has revised its supply and demand forecasts for 2015. The cartel now projects worldwide demand for oil growing by 1.17 million barrels per day (bpd) to 92.32 million bpd. It attributes increased demand to lower prices. Demand for OPEC production is expected to reach 29.21 million bpd, up 430,000 bpd from… Read More
Inpex to Sell Gas Interest
Inpex Corporation will sell its 25% interest in onshore block SL20183 in Louisiana to Sibley Petroleum Investments, LLC, per a recent article in “Rigzone”. The block is producing approximately 3.7 million standard cubic feet per day (MMscf/d) and is operated by PetroQuest Energy, LLC which owns 55%. The remaining 20% is owned by U. S.… Read More
North Dakota Small Business Owners Still Optimistic
In spite of the recent collapse of crude oil prices, small business owners in the Prairie State remain bullish on their prospects, according to a recent article in “Rigzone”. North Dakota has been one of the fastest growing states in the U. S., and until recently it appeared that the sky was the limit for… Read More
