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Articles Posted by thackney

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  • Plains All American to build pipeline from Cushing to Memphis

    08/22/2014 5:11:04 AM PDT · by thackney · 10 replies
    Fuel Fix ^ | August 21, 2014 | Vicki Vaughan
    Valero Energy Corp.’s Memphis, Tenn., refinery will begin receiving more low-cost domestic crude oil in two years as part of a plan by another company to build a pipeline to the plant. Houston-based Plains All American Pipeline LP said Thursday it plans to build a pipeline that would deliver as much as 200,000 barrels a day of crude oil to Valero’s Memphis plant when it’s completed in late 2016. The 440-mile, 20-inch pipeline will link Plains’ Cushing, Okla., terminal to Valero’s plant and cost an estimated $900 million. Locally based refiner Valero holds an option until January 2016 to buy...
  • Repeal fails, tax reform upheld {Alaska Oil Tax}

    08/21/2014 2:00:33 PM PDT · by thackney · 13 replies
    Alaska Journal of Commerce ^ | 2014.08.21 | TIM BRADNER
    A referendum to roll back an oil production tax change made in 2013 was defeated by voters in the state’s primary election held Aug. 19. Ballot Measure 1, which would have reinstated the state’s previous tax known as ACES that was repealed in 2013, was voted down 52 percent to 48 percent, or a margin of about 6,800 votes, the Division of Elections reported in late results with 98.6 percent of the votes counted. Earlier in the evening of Aug. 19 the “yes” votes had a thin majority of a few hundred for repeal with about 25 percent of the...
  • Petroleum Engineers See Highest Increase in Median Average Salary

    08/21/2014 12:00:52 PM PDT · by thackney · 1 replies
    Rig Zone ^ | August 21, 2014 | Karen Boman
    Petroleum engineers experienced the highest increase in median annual salary since 2011, according to a recent report from the American Geosciences Institute (AGI). In 2013, the median average salary for petroleum engineers was $132,000, and had increased by more than $10,000 since 2011, according to the Aug. 12 report, which quoted data from the U.S. Bureau of Labor Statistics. Since 2011, all geoscience occupations – with the exception of atmospheric and space scientists, geographers, environmental science and protection technicians, engineering postsecondary teachers, and atmospheric, earth, marine and space sciences post-secondary teachers – recorded increases in their median annual salaries, while...
  • Eagle Ford wave lifts Blue Dolphin Energy refinery

    08/21/2014 5:30:24 AM PDT · by thackney · 1 replies
    Fuel Fix ^ | August 21, 2014 | Vicki Vaughan
    The Eagle Ford Shale is boosting the fortunes of Blue Dolphin Energy Co., which took a chance when it bought a rusty, mothballed refinery in the small town of Nixon about seven years ago. Blue Dolphin bought the plant out of bankruptcy before the promise of the Eagle Ford was apparent. The company spent tens of millions refurbishing the plant and restarted it in early 2012. Nixon, which is about 54 miles east of San Antonio, straddles Gonzales and Wilson counties in a booming part of the shale play. The plant buys every drop of its crude oil from drillers...
  • Gulf Coast to benefit from refinery retrofits

    08/21/2014 5:27:02 AM PDT · by thackney · 2 replies
    Fuel Fix ^ | August 21, 2014 | Rhiannon Meyers
    The Texas Gulf Coast will be ground zero for a push to equip refineries to handle a flood of light crude unlocked in the U.S. shale boom, but the investments will be relatively conservative, a petrochemical consultant said Wednesday. Refiners won’t spend the big bucks they dropped when they retooled to handle heavy, high-sulfur crude several years ago, largely because it’s cheaper and simpler to modify a refinery to process lighter crude, said Jim Jones, senior vice president at Dallas-based petrochemical consulting firm Turner, Mason and Company. “It won’t be a $5 billion investment, it will be a couple million...
  • Investigators release Quebec train disaster report

    08/20/2014 6:27:56 AM PDT · by thackney · 12 replies
    Fuel Fix ^ | August 19, 2014 | Associated Press
    The weak safety culture of a now-defunct railway company and poor government oversight were among the many factors that led to an oil train explosion that killed 47 people in Quebec last year, Canada’s Transportation Safety Board said in a new report released Tuesday. TSB chair Wendy Tadros said 18 factors played a role, including a rail company that cut corners and a Canadian regulator that didn’t do proper safety audits. The safety board issued its report 13 months after a runaway train carrying 72 carloads of volatile oil from North Dakota derailed, hurtled down an incline and slammed into...
  • Texas price gap widens as oil production rises

    08/19/2014 12:55:11 PM PDT · by thackney · 18 replies
    Fuel Fix ^ | August 19, 2014 | Robert Grattan
    The gap between crude oil prices in the major trading centers of Midland, Texas and Cushing, Okla. ballooned to $19 Tuesday morning, the widest point this year and second-highest on record. On Tuesday morning, the price for crude oil hit a low of $77.48 per barrel in Midland. In Cushing, the benchmark pricing point for U.S. crude contracts, the price was $96.48. Worldwide crude prices fell, Bloomberg reported, after Iraqi and Kurdish forces regained control of a key dam in Iraq and slowed the advance of Islamic State militants. Midland prices are further depressed because production growth in West Texas’...
  • Hoping for its own shale gale, China seeks U.S. know-how

    08/19/2014 9:15:19 AM PDT · by thackney · 9 replies
    Fuel Fix ^ | August 17, 2014 | FuelFix.com
    Chinese oil companies are giving U.S. firms a bigger stake in exchange for the tools and technology of hydraulic fracturing, and many of those tools are made in Texas, or nearby. The Chinese hope hydraulic fracturing can launch a shale production gusher as it has in the United States–although China’s formations are deeper, and some are especially challenging because they’re in remote deserts or near densely populated cities. But the Chinese government is eager to reduce the country’s thick air pollution, and one step in that direction would be power plants that run on cleaner-burning natural gas instead of coal....
  • Whither BP’s behemoth? {AK North Slope, Liberty, monster rig}

    08/15/2014 2:06:33 PM PDT · by thackney · 12 replies
    Petroleum News | Week of August 17, 2014 | Wesley Loy
    As company works up new Liberty development plan, big rig remains sidelined - - - - It’s been five years since BP shipped a gigantic, specially designed drilling rig to Alaska’s North Slope to develop the offshore Liberty oil field. But the rig has yet to drill a well. It’s just sitting there. Exactly what BP plans to do with the behemoth, constructed by Parker Drilling Co., remains to be seen. But one thing seems apparent - it won’t be used for the Liberty project. BP has indicated as much in correspondence this year with the federal Bureau of Ocean...
  • EIA: Eagle Ford to cross 1.5 million daily barrels in September

    08/14/2014 11:46:48 AM PDT · by thackney · 22 replies
    Fuel Fix ^ | August 14, 2014 | Jennifer Hiller
    The U.S. Energy Information Administration expects that the Eagle Ford Shale will produce 1.51 million barrels of crude oil and other liquids daily in September. It would be a gain of around 31,000 daily barrels over August production for the South Texas field, according to the EIA’s latest Drilling Productivity Report, released this week. The EIA data track the major U.S. shale fields — the Eagle Ford, Permian Basin, Bakken, Marcellus, Haynesville and Niobrara. This month the agency added the Utica region in eastern Ohio, a rapidly growing natural gas field, to its Drilling Productivity Report. Most of the country’s...
  • Ukraine 'may cut Russia energy for Europe'

    08/14/2014 4:51:52 AM PDT · by thackney · 9 replies
    The Australian ^ | AUGUST 10, 2014 | DPA
    Ukraine has warned it might cut Russian oil and gas flows to Europe and ban Russian airlines from crossing its airspace, as Moscow criticised the country for suspending a ceasefire at the crash site of MH17. The measures are part of a sanctions bill targeting Russia that will be submitted to parliament, Prime Minister Arseniy Yatsenyuk said in Kiev. Yatsenyuk explained it could include complete or partial bans on transit of all manner of resources, including energy resources and overflights. Ukraine is the key country for the transport of Russian oil and gas to Europe. Previous energy disputes have resulted...
  • Two Myths Associated With U.S. Shale Oil

    08/14/2014 4:44:03 AM PDT · by thackney · 17 replies
    Forbes ^ | 8/12/2014 | Steve Banker
    Myth Number 1: The U.S. is approaching energy independence. There is no doubt we are in the midst of a shale oil revolution. But the growth of production has led to reporting that might charitably be described as overly optimistic. In fact, the Wall Street Journal reported today, in an article entitled Democrats Warming to the Energy Industry, “Since March 2008, oil production has increased 58% and natural-gas output has risen 21%, making the U.S. the world’s largest producer of both fuels, according to federal and international agency statistics.” I don’t know which federal statistics that reporter was looking at....
  • Ukraine Promises Smooth Russian Gas Transit to Europe

    08/12/2014 11:28:17 AM PDT · by thackney
    Rig Zone ^ | August 11, 2014 | Reuters
    kraine state gas grid Naftogaz said it would continue uninterrupted pumping of Russian gas exports to Europe through its territory even if Ukraine imposes its own sanctions on Russia. "Naftogaz affirms its readiness to continue smooth transit of natural gas to European consumers," Chief Executive Andriy Kobolev said in a statement on Monday. Ukraine Prime Minister Arseny Yatseniuk said last week that parliament would debate sanctions against Russia on Tuesday, which could include bans on Russian gas and sanctions against Russian banks. Russia halted gas supplies to Ukraine in June due to disagreements over pricing, but Russian gas transit through...
  • After Offshore Oil Failure, Cuba Shifts Energy Focus

    08/12/2014 5:29:23 AM PDT · by thackney · 5 replies
    Rig Zone ^ | August 11, 2014 | Reuters
    Cuba has shifted its focus away from offshore oil, concentrating on renewable energy and improving output from onshore wells due to a lack of interest by foreign companies for further deepwater exploration,... With so much oil readily available around the world, oil companies...see little incentive in drilling off the Caribbean island, delaying the Cuban dream of oil wealth that could inject vigor into its socialist revolution... Russia's state-run Rosneft and the China National Petroleum Company separately agreed last month to help Communist-run Cuba extract more oil along the traditional northwest heavy oil belt, but did not sign on to deepwater...
  • Douglas-Westwood: 'Australian LNG - A Lost Cause?'

    08/12/2014 5:19:09 AM PDT · by thackney · 4 replies
    Fuel Fix ^ | August 12, 2014 | Douglas-Westwood
    Douglas-Westwood, a UK-headquartered provider of energy business strategy, research and commercial due-diligence services, commented on "Australian LNG - A Lost Cause?" in its latest edition of DW Monday. DW MONDAY: "AUSTRALIAN LNG - A LOST CAUSE?" Recent news headlines on the liquefied natural gas (LNG) sector in Australia seem to be centered around its unsustainable rising costs. Woodside Petroleum had to ditch plans last year for its Browse LNG plant, which had gone way over budget at an estimated cost of $80 billion. In the interest of continuing the development, Woodside and its partners have now turned to floating LNG...
  • Declare a Ceasefire in EPA's War on Coal

    08/11/2014 6:40:38 AM PDT · by thackney · 8 replies
    American Thinker ^ | August 11, 2014 | William F. Shughart II
    Before we become too optimistic about the prospects for using renewable energy sources to curb carbon emissions, it’s worth looking at a study commissioned by the U.S. Chamber of Commerce, which should give pause to even the most confident advocate of action against climate change. The study forecasts that new EPA regulations -- regulations intended to cut carbon emissions by 30% from coal-, oil- and natural gas-fired plants by 2030 -- will lead to higher energy costs, fewer jobs, and slower economic growth in the United States. That, in turn, will lower Americans’ standards of living. A typical household could...
  • Russia starts drilling its northernmost oil well

    08/11/2014 5:39:49 AM PDT · by thackney · 5 replies
    Fuel Fix ^ | August 10, 2014 | Associated Press
    Russia has begun drilling on its northernmost oil well, in the Kara Sea off the northern coast of Siberia. The well is part of a joint project between the Russian state-owned oil company Rosneft and Exxon Mobil to develop the region’s oil reserves, which are estimated at up to 100 billion barrels.
  • Kinder Morgan to unite a house divided in $44 billion deal

    08/11/2014 5:27:27 AM PDT · by thackney · 5 replies
    Fuel Fix ^ | August 10, 2014 | Collin Eaton
    Houston billionaire Richard Kinder is fusing all the pieces of his fragmented pipeline empire into one company, Kinder Morgan Inc., in a $44 billion transaction that ranks among the largest in U.S. history. In a move that would end nearly two decades of delegating its main operations to subordinate firms, Houston-based Kinder Morgan said Sunday it is planning to buy out three companies it controls indirectly for $44 billion in cash and stock, bringing its network of North American pipelines and energy storage terminals under one corporate roof. It also will assume $27 billion in debt. Taken together, the three...
  • Companies take a big step toward LNG export plant in Louisiana

    08/08/2014 11:16:42 AM PDT · by thackney · 9 replies
    Fuel Fix ^ | August 7, 2014 | Ryan Holeywell
    Sempra Energy, GDF Suez and other investors in the Cameron LNG project have made their final investment decision on the project and intend to move forward with it, the companies announced this week. The facility will be located at Sempra Energy’s existing Cameron LNG import terminal in Hackberry, La. It is expected to cost around $10 billion. “Today’s commitments from our project sponsors and international banks put us one step closer to delivering domestic natural gas to America’s trading partners in Europe and Japan,” Sempra LNG president Octavio M.C. Simoes said in a statement. The facility will have three liquefaction...
  • Battle of the Fuels: Will Natural Gas Replace Diesel?

    08/08/2014 4:28:32 AM PDT · by thackney · 22 replies
    Motely Fool ^ | July 28, 2014 | Jonathan Cook
    The U.S. Energy Information Administration (EIA) administrator, in his March report to the Committee on Energy and Natural Resources of the U.S. Senate, stated that EIA analysis shows that during the next 25 years, natural gas will grow dramatically in use by freight trucking and other commercial transportation modes. Source: EIA, Annual Energy Outlook 2014.The New York Times profiled the freight truck natural gas conversion process in an April 2013 article and recently reported plans by the Obama Administration to impose tough new fuel efficiency standards for big trucks, potentially reducing diesel's competitiveness.In addition, NGV Today, the publication for the...
  • Permian’s Oil Surge Creates Need for Pipelines

    08/08/2014 4:22:20 AM PDT · by thackney · 10 replies
    Fox Business ^ | August 07, 2014 | Matthew Rocco
    With crude gushing from the Permian Basin, companies are ramping up efforts to build pipelines and better capitalize on the production surge. Drillers have been producing oil in the Permian for some eight decades. But in recent years, the Texas formation’s central region, which consists of the Delaware and Midland basins, became a hotbed for shale oil. The Permian is now the top oil-producing area in the U.S., accounting for 18% of the nation’s total output in 2013. Based on data from the Energy Information Administration, the Permian recorded production of 1.35 million barrels per day last year. The region...
  • Ukraine Will Destroy Itself w/o Russia

    08/08/2014 4:17:08 AM PDT · by thackney · 17 replies
    Real Clear Energy ^ | August 8, 2014 | James Stafford
    Ukraine doesn’t need Russia to take it down—Kiev is doing fine destroying itself, most recently with a new tax code that doubles taxes for private gas producers and promises to irreparably cripple new investment in the energy sector at a time when reform and outside investment were the country’s only hope. Ukrainian President Petro Poroshenko on August 1 signed off on a new tax code that effectively doubles the tax private gas producers in Ukraine will have to pay, calling into question any new investment, as well as commitment from key producers already operating in the country. The stated goal...
  • Mexican lawmakers approve overhaul ending Pemex monopoly

    08/07/2014 12:23:57 PM PDT · by thackney · 12 replies
    Fuel Fix ^ | August 6, 2014 | Robert Grattan
    The Mexican Congress has passed sweeping legislation intended to revitalize the country’s anemic energy industry by opening it to private competition and ending a 75-year state monopoly. After weeks of debate and a constitutional amendment, legislators approved this week the majority of the new laws and are expected to finalize the remaining items in the coming days. The energy overhaul is the most sweeping of a broad set of economic measures promised by Mexican President Enrique Peña Nieto. Mexico’s oil and gas industry has been largely left out of the latest oil boom, despite the general consensus that the country...
  • Marcellus Region production continues growth

    08/05/2014 5:04:27 AM PDT · by thackney · 2 replies
    Energy Information Administration ^ | 8/5/2014 | Energy Information Administration
    Natural gas production in the Marcellus Region exceeded 15 billion cubic feet per day (Bcf/d) through July, the first time ever recorded, according to EIA's latest Drilling Productivity Report. The Marcellus Region, mostly located in West Virginia and Pennsylvania, is the largest producing shale gas basin in the United States, accounting for almost 40% of U.S. shale gas production. Marcellus Region production has increased dramatically over the past four years, increasing from 2 Bcf/d in 2010 to its current level. The rig count in the Marcellus Region has remained steady at around 100 rigs over the past 10 months. Given...
  • Small gas-to-liquids plant planned for former Houston power plant site

    08/04/2014 12:29:41 PM PDT · by thackney · 7 replies
    Fuel Fix ^ | August 4, 2014 | Rhiannon Meyers
    Biofuels Power Corp. plans to build a small-scale plant to convert natural gas to synthetic crude on a former power plant site south of downtown Houston as it looks to capitalize on abundant supplies of cheap natural gas, the company announced Monday. The gas-to-liquids plant is a pilot project, the first step in the Humble-based company’s plans to build several small plants at oil fields across the U.S. to capture and convert natural gas now stranded at well sites that don’t have processing or transportation infrastructure to carry the gas to market. Advances in hydraulic fracturing and horizontal drilling have...
  • "We Cannot Continue The Operations There"- Shell Declares Force Majeure In Ukraine

    08/01/2014 7:14:03 AM PDT · by thackney · 7 replies
    Oil Pro ^ | 7/31/2014 | Fydor Przyborski
    Shell announced today that it has declared force majeure on its unconventional gas exploration activities in eastern Ukraine, near the site where flight MH17 crashed. However, it's too early to tell what impact the latest round of EU and US sanctions on Russia for its actions in Ukraine will have on the Anglo-Dutch major, sources said. Shell has been engaging in shale gas exploration in Ukraine and its Russian assets include a stake in Sakhalin-2, one of the largest LNG projects in the world, where it is working with Gazprom to expand the project. Shell CEO Ben van Beurden was...
  • Exxon Oil Rig Enters Uncharted Waters of Russian Political Storm

    07/21/2014 6:54:24 AM PDT · by thackney · 6 replies
    Reuters via Rig Zone ^ | July 21, 2014 | Balazs Koranyi and Gwladys Fouche
    An ordinary, long-scheduled journey of an oil drilling rig into Arctic waters is turning into a major political exercise, attracting international scrutiny and creating a dilemma for ExxonMobil. Exxon, the top U.S. oil major and the world's most valued oil company, is bringing the rig, called West Alpha, from Norway to the Russian Arctic. It is hoping for a major discovery in the Kara Sea with Russian partner Rosneft. The journey has begun just as the United States has slapped the toughest sanctions yet on Russia, including on Rosneft, over escalating violence in Ukraine. Further sanctions are likely after the...
  • Recent improvements in petroleum trade balance mitigate U.S. trade deficit

    07/21/2014 5:28:31 AM PDT · by thackney · 3 replies
    Energy Information Administration ^ | JULY 21, 2014 | Energy Information Administration
    Since the mid-1970s, the United States has run a deficit in merchandise trade, meaning that payments for imports exceeded receipts for exports. This large and growing deficit on the merchandise trade balance reached a maximum of $883 billion in the second quarter of 2008. As a result of the recession, dramatic declines of imports in excess of exports during the fourth quarter of 2008 and the first quarter of 2009 reduced the merchandise trade deficit by 49%, to $449 billion in the second quarter of 2009. This trend of declining imports resulted in the lowest quarterly deficit level since early...
  • Feds OK first-in-decades oil studies off East Coast

    07/18/2014 11:21:43 AM PDT · by thackney · 17 replies
    Fuel Fix ^ | July 18, 2014 | Jennifer A. Dlouhy
    The Obama administration on Friday gave the oil industry the green light to use air guns and sonic sensors to search for possible oil and gas under Atlantic waters, overriding environmentalists concerned that the seismic research can harm whales and other marine life. Although geophysical research companies will still have to apply for individual permits to conduct seismic studies along the south- and mid-Atlantic coast — and undergo more rigorous environmental scrutiny of their specific plans — the Interior Department’s formal decision opens the door for the activity. Friday’s move also helps pave the way for possible drilling off the...
  • Kemper Coal Plant Prepares for Operation

    07/18/2014 6:50:22 AM PDT · by thackney · 9 replies
    WTOK ^ | July 17, 2014 | Candace Barnette
    Mississippi Power is looking for ways to make a positive economic impact as the Kemper Coal Plant is slowly nearing its finish line. The facility has completed construction and is now in the process of testing its equipment. And coal engineers say as they begin, they're doing their best to hire locally. "We sign long-term contracts with our customer," mine engineer Matt Jones says. "We've got a 40-year contract with Mississippi Power for this operation. We're part of the community, and we want to make sure we're hiring our neighbors as much we can." At its peak, the coal plant...
  • Kemp: Peak Petroleum Engineer? Or Still Time to Join the Boom?

    07/17/2014 4:58:32 AM PDT · by thackney · 6 replies
    Reuters via Rig Zone ^ | July 17, 2014 | John Kemp
    Petroleum engineers are among the best paid professionals in the United States. Only chief executives and some specialist doctors earned more last year, according to federal government pay data. Petroleum engineers were paid an average of $132,000 a year, with the top 10 percent on more than $187,000, according to the Bureau of Labor Statistics (BLS). These figures include everyone from the newest graduates to the most experienced engineers with decades of experience, and are based on median earnings in May 2013. Petroleum engineers earned almost four times as much as the average employee across the economy, who was on...
  • Voters should not make engineering decisions

    07/16/2014 11:20:36 AM PDT · by thackney · 19 replies
    Houston Chronicle ^ | July 16, 2014 | Chris Tomlinson
    Denton late Tuesday night became the latest jurisdiction to announce a referendum on a drilling technique, joining Colorado and New York in allowing voters to decide where hydraulic fracturing for oil and gas may take place. This a deeply worrying trend that mixes misinformation with a not-in-my-backyard attitude that too often ignores science, engineering and the nation's need for energy. In many ways, though, the drilling companies and state regulators have themselves to blame for public outrage by failing to quickly and transparently address the concerns of local residents. First, let me say I've spoken to a lot of people...
  • Enhanced oil recovery techniques limited in shale

    07/16/2014 5:26:14 AM PDT · by thackney · 6 replies
    Fuel Fix ^ | July 15, 2014 | Jennifer A. Dlouhy
    Energy companies currently leave about 95 percent of the crude in the ground at today’s unconventional oil wells, but they face major technological challenges in boosting recovery rates, a Schlumberger scientist said Tuesday. Robert Kleinberg, a fellow with the oilfield services firm, bemoaned the current 5 percent recovery factor at tight oil wells, where crude is pulled from the pores of extremely dense rock formations. Geologists and engineers are actively looking for ways to boost the figure, but traditional methods applied at more conventional oil wells — such as pumping steam underground and flooding the formations with water — don’t...
  • Fuel economy improvements show diminishing returns in fuel savings

    07/11/2014 5:23:49 AM PDT · by thackney · 26 replies
    Energy Information Administration ^ | JULY 11, 2014 | Nicholas Chase
    Fuel costs, which depend on vehicle fuel economy, miles driven, and fuel price, are an important factor in vehicle purchasing decisions. However, fuel economy improvement exhibits diminishing returns in fuel savings. For example, switching from a 10-mile-per-gallon (mpg) vehicle to a 15-mpg vehicle saves more fuel and results in greater fuel cost savings than switching from a 25-mpg vehicle to a 75-mpg vehicle. The fuel and cost savings of improving fuel economy from 12 mpg to 15 mpg are the same as increasing from 30 mpg to 60 mpg. Much of the reduction in fuel consumption and fuel cost comes...
  • Houston pay tops nation on oil, gas strength

    07/11/2014 5:06:41 AM PDT · by thackney · 4 replies
    Fuel Fix ^ | July 10, 2014 | Collin Eaton
    Houston outpaced every city in the nation in annual wage growth during the second quarter, thanks largely to a bump in oil and gas-industry pay, according to PayScale. The Seattle-based pay tracker said the city’s 3 percent rise in annual wages beat the national average of 1.8 percent from April to June. That’s the second consecutive quarter that Houston wage-earners beat the national average, after a sluggish 2013 that saw pay in the energy capital flatten. (Average wage earners weren’t the only ones who had flat paydays last year: Some compensation packages for the chief executives of oil and gas...
  • Six formations are responsible for surge in Permian Basin crude oil production

    07/09/2014 7:30:55 AM PDT · by thackney · 7 replies
    Energy Information Administration ^ | JULY 9, 2014 | Energy Information Administration
    The Permian Basin in Texas and New Mexico is the nation's most prolific oil producing area. Six formations within the basin have provided the bulk of Permian's 60% increase in oil output since 2007. Crude oil production in the Permian Basin has increased from a low point of 850,000 barrels per day (bbl/d) in 2007 to 1,350,000 bbl/d in 2013. Largely as a result of this growth, crude oil production from Permian Basin counties has exceeded production from the federal offshore Gulf of Mexico region since March 2013, making the Permian the largest crude oil producing region in the United...
  • Tomgram: Michael Klare, Fighting for Oil

    07/09/2014 5:31:49 AM PDT · by thackney · 4 replies
    TomDispatch.com ^ | July 8, 2014 | Michael Klare
    Call it a double whammy for the planet or simply irony with a capital “I.” As the invaluable Michael Klare, TomDispatch regular and author of The Race for What’s Left, points out today, if you scan the planet for conflict, what you’ll find from Syria and Iraq to the South China Sea are a series of energy wars -- fossil-fuel conflicts to be exact. At present, despite some hopeful signs, this crazed planet of ours is still a ravenous beast that only fossil fuels can sate. No question that conflicts and wars are terrible things. Just consider the million new...
  • Surge of industrial projects could lift U.S. gas demand by 19 percent

    07/09/2014 5:25:40 AM PDT · by thackney · 7 replies
    Fuel Fix ^ | July 8, 2014 | Collin Eaton
    A wave of gas-to-liquids investments and other U.S. industrial projects will likely boost demand for natural gas by 19 to 31 percent through the end of the decade, a new study shows. After shale gas flooded U.S. markets, chemical makers and other firms planned enough gas-intensive industrial projects – now under construction or obtaining permits – to boost daily industrial gas demand from 19.6 to 23.5 billion cubic feet of gas per day in 2020, according to the University of Texas’ Center for Energy Economics. All told, that’s an $83 billion venture. If all 144 proposed industrial projects are built,...
  • Hurricane Arthur Scythes Through Outer Banks of North Carolina

    07/04/2014 6:26:41 AM PDT · by thackney · 21 replies
    Reuters via Rig Zone ^ | July 04, 2014 | Chris Keane|
    The first hurricane of the Atlantic season has hit the North Carolina coast, a wet and windy spoiler of the July Fourth holiday for thousands of Americans as authorities ordered them to evacuate exposed areas. Hurricane Arthur crossed the coast near Cape Lookout at the southern end of North Carolina's Outer Banks at 11:15 p.m. EDT (0315 GMT) on Thursday, with maximum sustained winds of 100 miles per hour (160 kph). This earned it Category 2 status on the five-step Saffir-Simpson scale of hurricane intensity, the U.S. National Hurricane Center said. Moving northeast at 22 mph (35.6 kph), Arthur is...
  • Philippines Considers LNG Import Receiving Options

    07/04/2014 6:23:35 AM PDT · by thackney · 1 replies
    Rig Zone ^ | July 04, 2014 | Cheang Chee Yew|
    Like most of its Asian neighbors, the Philippines has been a net energy importer for decades. The country’s dependence on hydrocarbons is relatively lower as compared to South Korea or Singapore as it has alternatives such as geothermal, hydropower and other renewable sources for electricity generation. But rising energy consumption and the expected depletion of gas resource at the offshore Malampaya field – the country’s major gas development – in a decade’s time has induced the Philippines to seek alternative energy supplies. Liquefied natural gas (LNG) import, together with the accompanying gas receiving facilities, is one of the options being...
  • How Low Can You Go? Oil Well Downhole Camera [Video]

    07/03/2014 9:25:20 AM PDT · by thackney · 12 replies
    Oil Pro ^ | July 3, 2014 | Stephen Peterson
    A very interesting video, detailing what drillers can see, identify and diagnose using a downhole camera. https://www.youtube.com/watch?v=ZzDrheWDhGw
  • Oil rich, gas poor: Iraq's excruciating gas lines

    07/03/2014 7:59:53 AM PDT · by thackney · 4 replies
    Al Jazeera America ^ | June 30, 2014 | Christof Putzel
    The lines have become a part of daily life in Erbil, a relatively peaceful and prosperous city in the autonomous Kurdish region of Northern Iraq. Over the years, it’s mostly managed to avoid the problems that have plagued the rest of the country. But that's no longer the case. In recent weeks, the war between the Iraqi Army and a Sunni militant group has drawn in Kurdish security forces, sent tens of thousands of refugees fleeing the violence and disrupted the oil supply chain. “The government is afraid to release too much gas, because they don’t know what is going...
  • A perspective on U.S. gasoline prices heading into Fourth of July weekend

    07/03/2014 7:31:03 AM PDT · by thackney · 2 replies
    Energy Information Administration ^ | July 2, 2014 | Energy Information Administration
    On Monday, June 30, the national average retail gasoline price was $3.70 per gallon. Although this is the highest average heading into the Fourth of July holiday since 2008, gasoline prices in 2014 have remained well below the spring peaks reached in each of the previous three years (see graph). Although prices are currently 20 cents per gallon higher than last year at this time, prices this year did not peak as high as in recent years because of relatively stable crude oil prices in 2014. The peak retail gasoline price this year was $3.71/gal on April 29, lower than...
  • Mexico's Pemex to Spend $6B to Maintain Output at Cantarell

    07/03/2014 6:13:56 AM PDT · by thackney · 3 replies
    Rig Zone ^ | July 1, 2014 | Reuters
    Mexico's state-run oil company Pemex will launch a $6 billion investment in 2017 aimed at maintaining current levels of production at its once-supergiant Cantarell field over the next decade, a Pemex official said on Tuesday. Discovered in 1976, output from the offshore Cantarell field once supplied over 2 million barrels per day (bpd), or more than half of Mexico's total crude production. But output at the field has fallen more than 80 percent since 2004 to hover around 340,000 barrels per day (bpd). The investment will counteract the natural decline of Cantarell by squeezing out an additional 100,000 bpd per...
  • New ND Flaring Regs Make Statoil's Nat Gas Container System Timely

    07/03/2014 5:45:05 AM PDT · by thackney · 18 replies
    Fuel Fix ^ | July 02, 2014 | Gene Lockard
    Statoil ASA recently announced a container system to reduce flaring in the Bakken. The company’s timing could not have been better, considering that North Dakota just approved new flaring regulations. More restrictive regulations covering flaring on existing wells were passed by the North Dakota Industrial Commission – the state’s regulating entity for oil and gas – July 1. The goal of the commission is to reduce flaring to 26 percent by the fourth quarter of 2014, 23 percent by the first quarter of 2016, and 10 percent – with the potential of 5 percent – by the fourth quarter of...
  • The First Crisis Hits Shale Drilling {hyperbole}

    07/02/2014 5:37:06 AM PDT · by thackney · 10 replies
    Real Clear Energy ^ | July 1, 2014 | Dave Forest
    "Crisis" may be a little hyperbolic. But shale production of oil and gas in America suddenly got a lot riskier this week. That's because of a landmark decision from one of the highest state courts in the land. Upholding the right of individual towns to regulate shale drilling, trumping state or federal regulatory regimes. The ruling came down yesterday in New York. Where the State Court of Appeals voted 5-2 to reject challenges to fracking rules imposed on the oil and gas industry by two municipalities in the state: Dryden and Middlefield. The saga started in 2011. When the two...
  • Officials say power grid is on the brink {New England}

    07/02/2014 4:36:24 AM PDT · by thackney · 74 replies
    SeacoastOnline ^ | July 01, 2014 | Deborah McDermott
    New England states are united in proposing that a tariff be imposed on electricity rates throughout the region to fund more natural gas pipelines and increased transmission infrastructure — to reverse electricity costs that are among the highest in the nation. The proposal is a necessary step because the region has limited gas pipeline capacity despite a demand that has grown from 6 percent in 2000 to 46 percent in 2013, energy experts said at a forum sponsored by The New England Council at St. Anselm's College in Manchester Monday. At the same time, more and more coal-fired, oil and...
  • Texas oil production set to top No. 2 OPEC country

    07/02/2014 4:29:55 AM PDT · by thackney · 16 replies
    Fuel Fix ^ | July 1, 2014 | Simone Sebastian
    exas now is pumping 36 percent of the nation’s oil, more than doubling its production in three years, according to new federal data. The Energy Information Administration reports that Texas oil production topped 3 million barrels per day in April, for the first time since the late 1970s. Nearly as much crude flowed from Texas as from Iraq, which was the second largest OPEC producer in April at about 3.2 million barrels per day, according to Bloomberg. The news agency estimates that Iraq’s production fell to 2.9 million barrels in June amid insurgent violence. That would drop it below Texas...
  • Pipeline progress, Midstream companies make ‘remarkable’ strides in North Dakota

    07/01/2014 6:02:02 AM PDT · by thackney · 17 replies
    Petroleum News Bakken ^ | Week of June 29, 201 | MAXINE HERR
    North Dakota Gov. Jack Dalrymple is full of gratitude for pipeline infrastructure investments after tasking midstream companies two years ago to build pipelines, and build them quickly. Dalrymple hosted his second Governor’s Pipeline Summit in Bismarck on June 24, bringing together about 150 pipeline industry leaders, energy industry representatives and federal, state and local officials to share their response to the rapid construction of thousands of miles of pipelines to meet oil and gas industry demands. “There was a time a few years ago when we said we’re never going to have enough pipelines to deal with this boom,” Dalrymple...
  • Rising costs eat into returns even with high oil prices, IHS says

    07/01/2014 5:26:19 AM PDT · by thackney · 6 replies
    Fuel Fix ^ | June 30, 2014 | Collin Eaton
    Oil producers are making less for the capital they’re spending than they did a decade ago, when U.S. benchmark crude prices were below $30 a barrel, a new report concludes. A study of more than 80 oil companies showed they made an average 8.6 percent in returns on average capital employed last year, and 11 percent in 2012 — both lower than exploration-and-production returns in 2001, according to a report released Friday by IHS. The price of West Texas Intermediate crude climbed from $27 a barrel in 2001 to $98 a barrel last year. “My guess is that shareholders are...