Our Blog
Iran and the Crude Export Ban
Lisa Murkowski (R-AK), is the leading advocate in the U. S. Senate for lifting the crude oil export ban. According to a recent article in “World Oil”, she has released a new report, “Cross-Currents: Iranian Oil and the U. S. Export Ban”, which contends that sanctions on Iranian oil exports should not be lifted without… Read More
WPX Adds Acreage
WPX Energy has bought 14,300 net acres in the San Juan Basin’s Gallup Oil Window for $26 million. The company now owns approximately 100,000 acres in the core of the New Mexico play and has already drilled 100 wells. The recent purchase is expected to provide the opportunity to drill that many more. The operator… Read More
Interest Expense Threatens Shale
There is a time honored saying that “Leverage is a two-edged sword; it makes good times look better, and bad times look worse.” According to a recent article in “World Oil”, this has never been truer than in the case of the shale revolution. The very debt financing that enabled many shale operators to develop… Read More
Saratoga Bankruptcy
“Rigzone” reports that the oil price collapse and legal problems have forced Saratoga Resources Inc. to seek protection under Chapter 11. An adverse ruling in arbitration brought by Harvest Operating for $3.7 million apparently was the last straw for Saratoga. Predictably Chairman and CEO, Thomas Cooke, tried to put a positive spin on the filing… Read More
OPEC Market Share
As OPEC continues to increase production in its efforts to intensify pressure on U. S. shale drillers, the global oil glut continues. This in turn sustains downward pressure on prices. There has already been an oil glut for 5 consecutive quarters. According to the International Energy Agency, if OPEC continues producing at current rates this… Read More
