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Another Perspective
A recent article in “World Oil” featured remarks by Dan Eberhart, the CEO of Canary, LLC, the largest privately held oil field service company in the U. S. While his remarks do not necessarily reflect the current consensus in the industry, I think they are provocative and noteworthy. Eberhart feels that a turning point has… Read More
Rig Count Drops Again
According to a recent article in “World Oil”, the U. S. oil rig count dropped for the 25’th straight week. This time the count decreased by 13 to 646, the lowest level since August of 2010. Most of the reductions were outside the major shale basins with rig counts in the Eagle Ford, Bakken and… Read More
Fourth Quarter Shortage?
In spite of a wealth of evidence to the contrary, some industry observers are predicting that the world oil market will shift from surplus to shortage by the end of this year. “Rigzone” reports that Standard Chartered Bank foresees this shift despite a current glut of 2 million barrels of oil per day (bopd). Apparently,… Read More
Bakken Core Still Viable
The Bakken shale of Montana and North Dakota has lost the majority of its oil drilling rigs much like the rest of the country. However, operators in all the major shale plays are retreating to the “core of the core” in an effort to maintain production and profitability. In a recent post I cited an… Read More
Shale Revolutionizes LNG Market
While the oil related impacts of the shale revolution are profound and well documented, the effect of shale gas on energy markets has been relatively modest. When there have been spikes in demand for natural gas, shale volumes have entered the market pre-empting or mitigating any price increases. However, a recent article in “World Oil”… Read More
