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Exxon CEO Predicts Shale Shakeout
Exxon CEO, Rex Tillerson, stated in an interview with CNBC that a “sorting out” of shale operators will be the result of recent crude price declines. However, he said that Exxon is a big investor in shale in the U. S. and is increasing its exposure. He feels confident in the future of shale and… Read More
Investment in Oil and Gas Technology
“Rigzone” cites a study by Lux Research which found that from 2003 to 2013, investment in oil and gas technology has focused on unconventional, deepwater, tight and heavy oil resources. During this period, $7 billion has been invested in new technologies, primarily involving drilling and completions in unconventional plays. However, the focus seems to be… Read More
Pennsylvania Benefits from Oil & Gas Production
Citing an article in the “Pennsylvania Business Daily”, “Rigzone” reports that drilling, fracking and the consequent oil and gas production has resulted in jobs and funding for infrastructure in the state. While there is still some opposition, residents are becoming more receptive to drilling and completion activities. This acceptance is a relatively recent development according… Read More
House to Hold Hearings on Crude Export Ban
The U. S. House of Representatives subcommittee on energy and power, chaired by Ed Whitfield (R-KY), will hold hearings on the 1975 Energy Policy and Conservation Act on December 11. One of the provisions of the legislation was a ban on crude oil exports. In a press release, Whitfield said “We need to take a… Read More
Creative Accounting for Texas Oil & Gas Acreage
Some oil and gas operators, especially in the Permian Basin of West Texas, are trying to engage in creative accounting for acreage, according to a recent article in “Rigzone”. The new concept, “net effective acreage” starts with traditional surface acreage, and multiplies it by the number of possible hydrocarbon bearing layers of rock below. Advocates… Read More
