Our Blog
Onshore Well Count Could Drop 26%
According to a recent article in “Rigzone”, consulting firm Wood Mackenzie projects a 26% reduction in domestic onshore wells, down to 27,000. Oil and gas operators have reduced budgets for 2015 in response to falling oil prices. With drilling and completion expenditures projected to drop from $140 billion last year to $90 billion in 2015,… Read More
Oil’s Underappreciated Economic Role
John Kemp is an oil and gas market analyst who frequently writes opinion pieces for “Rigzone”. The following is a synopsis of one of his recent articles. It relies heavily on data from the U. S. Bureau of Economic Analysis (BEA) based on the decade from 2002 to 2013. Over the last decade the eight… Read More
Oman Blasts OPEC
Russell T. Rudy is exclusively lower 48, onshore focused, so it might come as a surprise that so many of our recent posts deal with international events. However, as the recent oil price slide has shown, energy markets are global; what happens overseas has a direct impact on us here at home. Consequently, when actions… Read More
Iran Good to $25
Iranian Oil Minister Bijan Zanganeh contends that Iran is fine with oil prices dropping to as low as $25 per barrel, according to a recent article in “Rigzone”. In spite of behind the scenes lobbying by Iran and Venezuela to get other OPEC members to cut back on production and restore prices, Iran is publicly… Read More
What to Expect in 2015
According to a recent article in “Rigzone”, there is some good news on the horizon. Energy consulting firm Wood Mackenzie expects partial relief for oil and gas operators via reduced rates from service companies, asset high-grading, and efficiency gains. The article cites 15 trends we can expect to see in the coming year. I have… Read More
