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Beginning of End of Oil Glut?
After the oil price crash in 2014, operators began trying to offset revenue losses due to price decreases by increasing production. This caused a surplus of oil, often referred to as the “crude oil glut” which has been the nemesis of oil prices since then. However, for prices to begin to recover, the excess inventories… Read More
Permian Land Swaps
Innovation and creative thinking helped fuel the shale revolution. Now “Rigzone” reports that one of these innovations, horizontal drilling, is giving rise to another, land swaps. Within the Permian Basin of West Texas and Southeast New Mexico, shale operators have developed a barter system to maximize return on investment and ultimate oil recoveries. As is… Read More
Laser Drilling
In an article in “Oil Voice” entitled “At the Cutting Edge of Laser Technology”, author Ros Davidson discusses the relevance of laser drilling to current oil and gas operations. While the power of lasers is not disputed, its economic viability has always been an issue. Lasers are not really new. Einstein first theorized about them… Read More
Global Gas Market
“Oil Voice” reports that global LNG (Liquefied Natural Gas) capacity has increased dramatically. In the year 2000 worldwide liquefaction capacity was 121 million tons per annum (mmtpa) or 844 billion cubic feet per day (bcf/d). By 2010 it had reached 270 mmtpa (1,882 bcf/d). By the end of this year it will be about 400… Read More
Chevron’s Permian Pivot
“Rigzone” reports that Chevron, like fellow super majors ExxonMobil and Shell, is shifting focus to the Permian Basin of West Texas and Southeast New Mexico. On the surface this could be interpreted as merely following the trend to the Permian shales. However, this is not a change of direction, but rather a change of emphasis.… Read More
