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Upstream Upturn?
“Rigzone” reports that international consulting firm, Wood Mackenzie (WoodMac), predicts a recovery for upstream oil and gas capital projects this year. So far 15 initiatives, totaling about 8 billion barrels of potential oil equivalent (boe) reserves are moving forward. Last year only saw 12 projects totaling 8.8 billion boe approved. Consequently, the industry is on… Read More
The Downside to Upgrading
Even in the best of times, worthy production projects do not get funded. Generally, those projects offering the highest financial returns get funded and the others are deferred, sometimes indefinitely. However, with the oil price collapse of 2014, oil operators had to become even more selective as to which investments to make. “Rigzone” reports that… Read More
VooDoo Economics
For some time now, shale operators have been patting themselves on the back for having brought down the break-even point on new wells to the extent that some domestic plays are among the most economically attractive in the world. Now, in an article in “Oil Voice” entitled “Shale Cost Reductions are 10% Technology and 90%… Read More
America’s Energy Mix
The Obama administration declared war on the coal industry. In a sustained assault that lasted for eight years, rhetoric, regulation and subsidies for renewables, all took their toll on the fossil fuel. Donald Trump offered a cessation of hostilities. This in turn contributed to his winning the coal producing states of Pennsylvania, Ohio, West Virginia… Read More
Small-Scale LNG
When markets are free to innovate and exploit opportunities they tend to do so. A good example is the domestic natural gas market. The shale revolution resulted in extensive reserves of light oil and natural gas. The abundance of natural gas provided a stable supply but the sheer magnitude of reserves exerted downward pressure on… Read More
