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Whiting’s Reserves Increase by Approximately 1/3
According to a recent article in “Rigzone”, Whiting Petroleum Corp. reports that its proven reserves increased by approximately one third to 780 million barrels of oil equivalent. This increase is largely the result of the company’s recent buy out of Kodiak Oil & Gas which had proven reserves of 167 million barrels. The purchase makes… Read More
Natural Gas Market Dynamics
With all the recent attention given to the oil price collapse, relatively little notice has been given to natural gas prices. While international geopolitics exert a major influence on oil prices, natural gas tends to be more domestically focused. As with any market driven price, supply and demand are the ultimate determinants. However, many factors… Read More
U. S. Oil and Gas Reserves Increase
It seems that all the recent news on the energy front has been bad, given the dramatic freefall of crude oil prices. However, an article in “Rigzone” conveys some good news from the U. S. Energy Information Administration’s (EIA’s) reserve report. During 2013 domestic oil reserves increased 9.3% to 36.5 billion barrels, and gas 9.7%… Read More
Apache to Sell Non-Core Assets
In February of this year, Apache announced it would sell its interests in Argentina. In May, the company indicated its intention to divest its share of two development projects and 11 deep water blocks in the Gulf of Mexico. In June, it announced the disposition of assets in Western Canada, and a month later its… Read More
American Energy Increases Presence in Permian Basin
In June, American Energy Partners LP announced its intention to invest $4.25 billion in shale oil and gas assets in the Permian Basin. “Rigzone” reports that they are well on their way to doing just that. Since the end of July the company has acquired 27,000 net acres and 1,400 barrels of oil equivalent per… Read More
