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Israel Future Force in Energy Market?
The May 6’th issue of “Rigzone” reports that Dr. Harold J. Vinegar, former Chief Scientist at Shell, contends that “The same qualities which made Israel’s high tech sector a global success story could lead its energy sector to similar success.” Dr. Vinegar is currently Chief Scientist at Israeli Energy Initiatives where he is involved in… Read More
Bakken Breaks Billion Barrel Barrier
The Bakken, and the underlying Three Forks, shales have produced over a billion barrels of oil in North Dakota and Montana since initial production in 2000 as reported by “Rigzone”. The formation which lies beneath these two states, as well as the provinces of Saskatchewan and Manitoba, spans 25,000 square miles. According to the U.… Read More
Encana Sells East Texas Assets for $530 Million
“Rigzone” reports that Encana, Canada’s largest natural gas producer, is selling 90,000 net acres in Leon and Robertson counties, Texas. This is a continuation of what appears to be a trend for the industry in general, and Encana in particular, to divest gas assets in an effort to concentrate on liquids. In March Encana agreed… Read More
EIA Reserves Report for 2012
“Rigzone” reports that according to the U.S. Energy Information Administration (EIA), domestic oil reserves reached their highest levels since 1976. Proven (technically and commercially recoverable) oil reserves were boosted by shale plays in Texas and North Dakota, but gas reserves tumbled. Oil reserves increased by 6.9 billion barrels due to new discoveries, extensions of old… Read More
