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Keyword: drilling

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  • White House cancels all new offshore drilling leases for Atlantic coast

    03/15/2016 1:27:26 PM PDT · by SeekAndFind · 20 replies
    Hotair ^ | 03/15/2016 | Jazz Shaw
    Color me shocked. (Sarcasm intended.) The long awaited plans for U.S. offshore oil leases are coming out shortly and you’ll never guess what happened. After years of working toward expanded development in the Atlantic shelf, the White House has reportedly yanked the plans entirely and will cancel all plans for such leases. (New York Times) The Obama administration is expected to withdraw its plan to permit oil and gas drilling off the southeast Atlantic coast, yielding to an outpouring of opposition from coastal communities from Virginia to Georgia but dashing the hopes and expectations of many of those states’...
  • ‘Welcome Back Carter’ ( Destroying good paying jobs and )

    02/12/2016 12:06:40 PM PST · by george76 · 4 replies
    Washington Times ^ | January 31, 2016 | William Perry Pendley
    Obama on federal coal mining is a throwback to Carter administration failings. resident Obama's plot to use the National Environmental Policy Act (NEPA) to kill federal coal mining with a thousand paper cuts is not the first time he has used NEPA to try to end energy development. Disturbingly, his scheme is a throwback to President Carter and a decade-long moratorium that ended only when President Reagan took office. Meanwhile millions of Americans, vast regions and the nation's economy will suffer. In 2009, the Obama administration settled a "sweetheart lawsuit" by environmental groups by agreeing to a NEPA study on...
  • Why U.S. Shale Is Not Capitulating Yet

    02/04/2016 3:39:20 PM PST · by bananaman22 · 16 replies
    Oilprice.com ^ | 04-02-2016 | zero
    According to a report by the Bloomberg Intelligence analysts William Foiles and Andrew Cosgrove, Saudi Arabia may have its work cut out for it as it will be far harder to kill many U.S. E&Ps than analysts originally thought. The reason: a break-even model for the Permian Basin and Eagle Ford shows that oil production across five plays in Texas and New Mexico may remain profitable even when WTI prices fall below $30 a barrel, according to a 55-variable Bloomberg Intelligence model for horizontal oil wells. The Eagle Ford's DeWitt County has the lowest break-even, at $22.52, followed by Reeves...
  • Cattle Deaths Spark Renewed Oil Drilling Controversy

    02/04/2016 8:06:56 AM PST · by bananaman22 · 19 replies
    Oilprice.com ^ | 04-02-2016 | Juli
    Following the mysterious death of seven cattle near an oil field in Kansas, public health authorities are investigating whether oil drilling could be the cause. In late December, seven dead cattle were found near an oil field in the Cimarron National Grassland, Kansas, and authorities believe that cows inhaled something toxic, prompting them to deny public access to the 2,500-acre Cimarron National Grassland until at least May. Six of the cattle were discovered together in a low-lying area, while a seventh was found a short distance away, with local veterinarians identifying the ingestion or inhalation of something toxic leading to...
  • America’s Top Shale Gas Basin in Decline

    12/23/2015 2:56:25 PM PST · by bananaman22 · 10 replies
    Oilprice.com ^ | 23-12-2015 | Marcellus
    The natural gas drilling frenzy is grinding to a halt, as the industry struggles with excess supply. Natural gas prices have plunged to their lowest levels in more than a decade this month, dipping below $1.80 per million Btu (MMBtu). The shale gas revolution is an old story at this point, one that everyone is familiar with. But the revolution never really ended, even though the media moved on to focus on the tight oil boom. Natural gas production continued to rise over the past decade, reaching record heights in 2015. However, demand has not kept up, despite the rise...
  • Many oil companies virtually abandoning exploration

    10/13/2015 5:48:44 AM PDT · by thackney · 10 replies
    Fuel Fix ^ | October 12, 2015 | Rhiannon Meyers
    The hunt for new stores of oil and gas has been dramatically curtailed amid a global crude slump, with exploration budgets at the largest oil companies cut in half from their peak levels in 2013, according to a new analysis. Investment banking firm Tudor, Pickering, Holt & Co., which tracked exploration capital spending at integrated oil companies and major exploration and production companies, forecast that spending will fall to $25 billion next year, down from the $50 billion these same companies spent three years ago. Oil companies are spending less in part because service costs have tumbled alongside oil prices,...
  • Oilfield Cannibals: To Save Cash, US Drillers Strip Idle Rigs

    10/07/2015 12:33:04 PM PDT · by thackney · 19 replies
    Reuters via Rig Zone ^ | October 07, 2015 | Anna Driver & Swetha Gopinath
    Cam Hewell runs Premium Oilfield Technologies, a small company that makes equipment and spare parts for drilling rigs from North Dakota to Texas. Like his rivals, he is trying to withstand the worst oilfield downturn in six years, but they face a vexing obstacle: cannibals. In a bid to save cash, rig owners are cannibalizing parts such as motors and drill pipe from idled rigs to fix 800 active ones in the U.S. when stuff breaks. In good times, they would buy new equipment from companies like Hewell's or industry leader National Oilwell Varco Inc when parts fail. Now, they...
  • BHI: US rig count plunges 29 units to lowest total since May 2002

    10/03/2015 2:41:12 PM PDT · by thackney · 5 replies
    Oil & Gas Journal ^ | 10/02/2015 | Matt Zborowski
    In a shift reminiscent of the freefall that occurred earlier this year, the overall US drilling rig count plunged 29 units during the week ended Oct. 2 to a total of 809, the lowest since May 3, 2002, according to data from Baker Hughes Inc. The count has now fallen in 6 consecutive weeks, giving up 76 units during that time. The recent decline follows a small summer rebound in which the total climbed 28 units over a 9-week period from a nadir of 857 to a plateau of 885. The count is now down 1,113 units year-over-year and 1,122...
  • Shells Loss Is Enis Gain

    10/02/2015 9:31:42 AM PDT · by bananaman22 · 1 replies
    Oilprice.com ^ | 02-10-2015 | Oilnorway
    At the beginning of this week, oil major Shell announced that it will indefinitely postpone (read: completely abandon) its Arctic drilling operations in the Chukchi Sea offshore Alaska. The company stated: "Shell will now cease further exploration activity in offshore Alaska for the foreseeable future. This decision reflects both the Burger J well result, the high costs associated with the project and the challenging and unpredictable federal regulatory environment in offshore Alaska." This retreat will result in Shell losing its $7 billion investment, a bitter pill to swallow for the oil major. While Shell and many others have given up...
  • Texas Railroad Commission: Drilling Permits in Texas Down 65% in August

    09/15/2015 2:10:42 PM PDT · by thackney · 3 replies
    Rig Zone ^ | September 15, 2015 | Deon Daugherty
    Along with oil prices and the rig count, the issuance of new drilling permits has dropped off dramatically in the last 12 months, according to numbers from the Texas Railroad Commission report of 864 permits issued in August. The commission, which regulates oil and gas activity in the state, said in a release that the issuance of drilling permits declined 65 percent year-over-year in August 2015. Among the 864 permits, the breakdown for August this year included 222 oil wells; 59 for gas; 518 for oil or gas; 54 injection wells and 11 other permits. Total well completions for 2015...
  • EPA: Fracking's no big threat to water

    06/05/2015 6:41:28 AM PDT · by McGruff · 13 replies
    POLITICO ^ | 6/4/15 | ELANA SCHOR
    The Environmental Protection Agencys long-awaited report on fracking dismayed liberal green groups Thursday while pleasing the oil and gas industry the latest episode in both sides fraught relationship with President Barack Obama. The study, more than four years in the making, said the EPA has found no signs of widespread, systemic drinking water pollution from hydraulic fracturing. That conclusion dramatically runs afoul of one of the great green crusades of the past half-decade, which has portrayed the oil- and gas-extraction technique as a creator of fouled drinking water wells and flame-shooting faucets. The report also jibes with Obamas global...
  • Saudi-led oil price war impacts N.C.& Atlantic offshore drilling

    06/01/2015 2:43:38 PM PDT · by brownwill6767 · 5 replies
    John Locke Foundation ^ | 5/21/15 | Mitch Kokai
    Saudi Arabias unwillingness to follow its longstanding policy of propping up oil prices means North Carolina might have to wait for offshore energy exploration. Thats the assessment of Daniel Fine, associate director of the New Mexico Center for Energy Policy and project leader of a group developing New Mexicos state energy policy. Fine described a Saudi-led oil price war during a presentation to the John Locke Foundations Shaftesbury Society. In the video clip below, Fine explained how falling oil prices tied to Saudi Arabias new policy affect North Carolinas energy options.
  • Oklahoma Recognizes Role of Drilling in Earthquakes

    04/21/2015 6:52:59 PM PDT · by Theoria · 20 replies
    The New York Times ^ | 21 April 2015 | Michael Wines
    Abandoning years of official skepticism, Oklahomas government on Tuesday embraced a scientific consensus that earthquakes rocking the state are largely caused by the underground disposal of billions of barrels of wastewater from oil and gas wells.The states energy and environment cabinet introduced a website detailing the evidence behind that conclusion Tuesday, including links to expert studies of Oklahomas quakes. The site includes an interactive map that plots not only earthquake locations, but also the sites of more than 3,000 active wastewater-injection wells.The website coincided with a statement by the state-run Oklahoma Geological Survey that it considers it very likely that...
  • U.S. oil rig count down 42 as industrys slowdown accelerates

    04/13/2015 5:14:59 AM PDT · by thackney · 24 replies
    Fuel Fix ^ | April 10, 2015 | Ryan Holeywell
    The U.S. energy industry dramatically increased the pace at which its slowing activity, laying down 42 oil rigs this week after several weeks of more conservative numbers. There are 760 oil rigs operating in the U.S. currently, down from 802 last week, according to data published Friday by oil field services company Baker Hughes. The decline was the largest one-week drop in the count in a month. Last week, the oil rig count fell by just 11, and the week before it was down by 12. Those were the smallest week-over-week declines in 2015 and may have suggested the oil...
  • Mayor Hates the Frackers, Loves Their Money

    04/09/2015 12:41:35 PM PDT · by MichCapCon · 8 replies
    Michigan Capitol Confidential ^ | 4/8/2015 | Tom Gantert
    Grand Rapids Mayor George Heartwell has become a hero to the global warming movement with his anti-oil comments. The mayor has said, Our planet is sick and it is we who have infected it. In a January speech, Heartwell called for an end to hydraulic fracturing (commonly known as fracking) and said he would ask the county and governor to do the same. However, Heartwell appears to have no problem with taking money collected from oil companies for using hydraulic fracturing when drilling on state land to fund city government spending. MLive reported that Grand Rapids plans to request a...
  • Obama opens Atlantic to new drilling

    01/27/2015 3:18:55 PM PST · by Libloather · 34 replies
    The Hill ^ | 1/27/15 | Laura Barron-Lopez
    President Obama will open parts of the Atlantic and Arctic oceans to new oil and gas drilling under a plan unveiled Tuesday. The Interior Department's five-year lease plan would allow drilling in three areas off the coast of Alaska and one in a portion of the Atlantic for the first time in nearly four decades. The dramatic shift in policy comes as gas prices are at new lows and as Obama has sought to burnish his legacy as a president who has worked to stop climate change. The plan angered green groups who have supported Obama's decision to restrict other...
  • Latest Obama executive order: 12 million acres of ANWR now off limits

    01/27/2015 8:24:08 AM PST · by rktman · 60 replies
    canadafreepress.com ^ | 1/27/2015 | Dan Calabrese
    President Obama announced Sunday that hell use his executive authority to designate 12 million acres in Alaskas Arctic National Wildlife Refuge (ANWR) as wilderness, walling it off from resource development. This abrogates a 1980 deal in which Congress specifically set aside some of this acreage for future oil and gas exploration. Its also a slap at the new Republican Congress, where Alaska Sen. Lisa Murkowski has been corralling bipartisan support for more Arctic drilling.
  • Obama Films Anti-Oil Drilling VideoFrom a Jet

    01/26/2015 9:14:56 AM PST · by Enlightened1 · 23 replies
    Breitbart ^ | 01/26/15 | Wynton Hall
    On Sunday, President Barack Obama released an anti-oil drilling environmental video shot aboard Air Force Onean aircraft that has a 53,611 gallon fuel capacity. The video, which shows Obama aboard Air Force One, is interspersed with scenes of arctic animals and wildlife landscapes, reports National Public Radio (NPR). Its all part of Obamas ANWR (Arctic National Wildlife Refuge) newly proposed plan to ban roads, permanent structures, vehicles, drilling, and mining on 12.28 million acres in ANWR. On Saturday, Obama flew Air Force One over 8,000+ miles to India to discuss global warming and other issues.
  • Former Shell President Hofmeister Sees Oil at $80 by the Summer

    01/25/2015 10:49:41 PM PST · by Citizen Zed · 9 replies
    The Street ^ | 1-22-2015 | Michelle Rama-Poccia
    When a massive truck slams on the brakes to avoid a crash, it takes awhile for it to get back up to highway speed again. That, in essence, is the problem oil companies will face when they want toincrease production if supplies start to fall short. The selloff in crude oil has put drilling on hold. Unless more drilling resumes soon, a surplus of 1 million barrels a day will be exhausted. John Hofmeister, a former president atRoyal Dutch Shell , predicts that will happen by the summer and will send pricesup to $80 a barrel. "When that cost correction...
  • Troll fest: Obama administration now picking a fight with Republicans over Alaska drilling

    01/25/2015 11:53:09 AM PST · by SeekAndFind · 27 replies
    Hotair ^ | 01/25/2015 | NOAH ROTHMAN
    The White House’s Troll Fest, 2015 continues apace. In fact, if you are getting the impression by now that the Obama administration has no higher priority than provoking fights with Republicans, you’re probably right. On Sunday, the White House leaked a proposal to The Washington Post in which the administration revealed plans to make the 1.4 million-acre Arctic National Wildlife Refuge (ANWR) and parts of the Arctic Ocean off limits to drilling. Some of this can be accomplished via new regulations administered by the Department of the Interior, but not entirely. They have also proposed additional restrictions on oil...
  • 12 Signs That The Economy Is Really Starting To Bleed Oil Patch Jobs

    01/21/2015 7:17:17 PM PST · by Kartographer · 31 replies
    theeconomiccollapseblog. ^ | 1/20/15 | Michael Snyder
    #1 It is being projected that the U.S. oil rig count will decline by 15 percent in the first quarter of 2015 alone. And when there are less rigs operating, less workers are needed so people get fired. #2 Last week, 55 more oil rigs shut down. That was the largest single week decline in the United States in 24 years. #3 Oilfield services provider Baker Hughes has announced that it plans to lay off 7,000 workers. #4 Schlumberger, a big player in the energy industry, has announced plans to get rid of 9,000 workers. #5 Suncor Energy is eliminating...
  • Obama withdraws Alaska's Bristol Bay from oil drilling

    12/16/2014 7:59:43 PM PST · by Jet Jaguar · 35 replies
    Associated Press Fairbanks Daily News-Miner ^ | Dec 16, 2014 | Associated Press
    <p>President Barack Obama announced Tuesday that he's removing more than 52,000 square miles of waters off Alaska's coast from consideration for oil and gas exploration or drilling.</p> <p>The president said in a video announcement that Bristol Bay and nearby waters, covering an area roughly the size of Florida, would be withdrawn from consideration for petroleum leases. He called Bristol Bay one of the country's great natural resources and a massive economic engine.</p>
  • Obama in Miami: 'We can't just drill our way to lower gas prices' (2012 article)

    12/10/2014 3:58:40 PM PST · by HereInTheHeartland · 14 replies
    Tampa Bay Times ^ | Alex Leary
    "It means that anyone who tells you we can drill our way out of this problem doesnt know what theyre talking about or isnt telling you the truth. The United States consumes more than a fifth of the worlds oil. But we only have 2% of the worlds oil reserves. That means we cant just rely on fossil fuels from the last century. "
  • Obama In 2012: We Cant Just Drill Our Way To Lower Gas Prices

    12/05/2014 10:26:44 AM PST · by TexasCajun · 32 replies
    DailyCaller.com ^ | 12/05/2014 | MICHAEL BASTASCH
    Gasoline prices are plummeting as U.S. oil production from shale formations booms, reaching more than nine million barrels per day through Nov. 28. Gasoline is now hitting four-year lows and oil prices are hitting five-year lows. But it was just two years ago that President Obama said we cant just drill our way to lower gas prices in a speech bashing Republican calls for more drilling. And you can bet that since its an election year, theyre already dusting off their three-point plans for $2 gas, Obama continued. Ill save you the suspense: Step one is drill, step two is...
  • Oil reserves grow in Colorado, across the U.S.

    12/04/2014 6:11:10 PM PST · by george76 · 18 replies
    Denver Business Journal ^ | Dec 4, 2014 | Cathy Proctor
    Colorado's growth in crude oil reserves ranked third behind North Dakota and Texas in the latest survey of the amount of oil buried in fields across the United States, according to the U.S. Energy Information Administration. Nationally, crude oil reserves oil that can be pumped from the ground under current economic conditions using existing technology grew by 9 percent, or 3.1 billion barrels, in 2013 compared to 2012, the federal agency said. It's the fifth year in a row the U.S. oil reserves have grown, the EIA said, evidence that the proliferation of horizontal drilling and hydraulic fracturing...
  • Gunnison sage grouse gets federal protection ( Colorado and Utah )

    11/12/2014 10:30:17 AM PST · by george76 · 18 replies
    ap ^ | Nov. 12, 2014
    Federal wildlife officials have granted protection to the Gunnison sage grouse, a move that could to bring restrictions on oil and gas drilling and other land uses to preserve the bird's habitat in Colorado and Utah. ... They're related to the greater sage grouse, which is at the center of a separate and larger debate over federal protection across 11 Western states.
  • Ted Kennedy Off Shore Drill Pictures

    10/27/2014 6:32:21 AM PDT · by where's_the_Outrage? · 7 replies
    I am trying to find the photo taken in the 80's about Teddy's offshore drilling. Funny how I can't find it on google. Any have the link to the pic? Here is the story behind it from Rush: http://www.rushlimbaugh.com/daily/2007/08/03/luke_sissyfag_howell_heflin_womb_to_the_tomb RUSH: What happened was -- this is back in the late eighties, I think -- Senator Kennedy is vacationing off the coast of the south of France and he's got a young nubile, very limber and flexible young woman with him, scantily clad in a nice bikini. We know this because paparazzi were taking pictures from neighboring boats, and the New...
  • BHI: US drilling rig count drops 12 units to 1,918

    10/20/2014 4:59:53 AM PDT · by thackney · 3 replies
    Oil & Gas Journal ^ | 10/17/2014 | OGJ editors
    The US drilling rig count declined 12 units to settle at 1,918 rigs working during the week ended Oct. 17, Baker Hughes Inc. reported. BHIs average US onshore rig count for the third quarter totaled 1,842 units, up 46 from the second quarter and up 133 from third-quarter 2013. The US onshore well count for the third quarter totaled 9,566, up 110 from the second quarter and up 491 from third-quarter 2013. Average US onshore drilling efficiencies dropped to 5.19, primarily caused by fewer wells/rig being generated in the Permian during the quarter, BHI indicated. The Permian accounted for 54%...
  • The Science Is Settled: Fracking Is Safe

    09/21/2014 6:41:37 AM PDT · by rktman · 15 replies
    americanthinker.com ^ | 9/21/2014 | Jeffrey Folks
    Funded by the National Science Foundation and Duke University, a team of scientists at Ohio State and other universities conducted extensive research into the purported link between groundwater pollution and fracking. (The full title of the report, available online, is Noble Gases Identify the Mechanisms of Fugitive Gas Contamination in Drinking-Water Wells Overlying the Marcellus and Barnett Shales.) In an examination of 130 wells, the researchers found that, when properly conducted, no groundwater or aquifer pollution resulted from the practice of fracking itself.
  • Barnet Shale still alive

    09/12/2014 6:12:36 AM PDT · by q_an_a · 7 replies
    Dallas Business Journal ^ | 9.10.2014 | Nicholas Sakelaris
    The Barnett Shale generates $11.8 billion in gross product per year and 107,650 permanent jobs for North Texas, according to economist Ray Perryman.
  • Obama opens rift with greens: Moving toward opening the Atlantic Ocean to drilling

    08/11/2014 2:22:45 PM PDT · by SeekAndFind · 5 replies
    The Hill ^ | 08/11/2014 | Laura Barron Lopez
    President Obama is moving toward opening the Atlantic Ocean to drilling in a major shift in U.S. policy that cuts against the administration's efforts to reduce global warming. Environmental groups applauding the president's pursuit of new power plant rules meant to reduce climate change are now preparing for a major battle over authorizing drilling in the Atlantic, and possibly the Arctic and Pacific oceans. President Obama is moving toward opening the Atlantic Ocean to drilling in a major shift in U.S. policy that cuts against the administration's efforts to reduce global warming. Environmental groups applauding the president's pursuit of new...
  • Study links Oklahoma earthquake swarm with fracking operations

    07/07/2014 1:23:59 PM PDT · by mbarker12474 · 40 replies
    Los Angeles Times Science ^ | 3 July 2014 | Hailey Branson-Potts Los Angeles Times
    Study links Oklahoma earthquake swarm with fracking operations By Hailey Branson-Potts [skip to the last paragraph if you want to skip the nonsense.] Oklahoma ... boom ... recent years: oil and gas production and earthquakes. To many residents, the timing .... Before the oil and gas industry started drilling... rare to feel an earthquake. Today, Oklahoma... second-most seismically active state .... Now ... fresh scientific evidence .... Researchers from Cornell University and the University of Colorado say a large swarm of earthquakes ... caused by ... disposal wells, ... wastewater from drilling operations ... hydraulic fracturing ... deep geological formations.......
  • China's Massive Disputed Oil Rig Near Vietnam Is Now Drilling

    05/27/2014 6:00:55 AM PDT · by blam · 8 replies
    BI ^ | 5-27-2014 | Reuters
    China's Massive Disputed Oil Rig Near Vietnam Is Now Drilling ReutersMay 27, 2014, 6:20 AM  A giant Chinese oil rig has finished its first round of drilling in South China Sea waters also claimed by Vietnam and moved to another site in the area, the rig's operator, China Oilfield Services Ltd (COSL), said on Tuesday. In a statement, COSL said exploration would still take place off the Xisha islands, China's name for the disputed Paracel chain, suggesting the rig was not moving far. In early May, the rig was deployed between the Paracel islands and the Vietnamese coast, sparking...
  • Major Oil & Gas Firm to List Drilling Chemicals

    04/24/2014 3:14:18 PM PDT · by Up Yours Marxists · 2 replies
    WWL TV ^ | April 25, 2014 at 00:36 GMT | Associated Press
    PITTSBURGH (AP) A major supplier to the oil and gas industry says it will begin disclosing 100 percent of the chemicals used in hydraulic fracturing fluid, with no exemptions for trade secrets. The move by Baker Hughes of Houston is a shift for a major firm; it's unclear if others will follow suit. The oil and gas industry has said the chemicals used are disclosed at tens of thousands of wells, but environmental and health groups and government regulators say a loophole that allows companies to hide chemical "trade secrets" has been a major problem. A statement on the...
  • Raul Grijalva Tries to Block Energy Exploration During Shutdown

    10/07/2013 4:01:37 PM PDT · by Tailgunner Joe · 33 replies
    freebeacon.com ^ | October 7, 2013 | Lachlan Markay
    A Democratic member of Congress is using the government shutdown to pressure the Department of the Interior to prohibit oil and gas exploration on federal land. Energy companies should not be able to use federal lands if those lands are closed to hikers and campers, according to Rep. Raul Grijalva (D., Ariz.), the co-chair of the Congressional Progressive Caucus. Grijalva started an online petition to demand that Interior Secretary Sally Jewell and Agriculture Secretary Tom Vilsack stop mining [on] public lands while visitors are locked out. Fossil fuel and logging companies shouldnt have special access to our federal lands while...
  • Study: Methane leaks from gas drilling not huge (Drill Baby Drill!! NatGas fracking OK)

    09/16/2013 2:11:13 PM PDT · by NormsRevenge · 9 replies
    Yahoo! News ^ | 9/16/13 | Seth Borensrein and Kevin Begos - ap
    WASHINGTON (AP) Drilling and fracking for natural gas don't seem to spew immense amounts of the greenhouse gas methane into the air, as has been feared, a new study says. The findings bolster a big selling point for natural gas, that it's not as bad for global warming as coal. And they undercut a major environmental argument against fracking, a process that breaks apart deep rock to recover more gas. The study, mostly funded by energy interests, doesn't address other fracking concerns about potential air and water pollution. The results, which generally agree with earlier Environmental Protection Agency estimates,...
  • Saudi prince...Fracking could put OPEC out of Business

    09/14/2013 6:44:29 PM PDT · by Red Statements · 47 replies
    Examiner,com ^ | July 29th, 2013 | Steven H Ahle
    Prince Alwaleed bin Talal said that fracking in the US has lessened demand for their oil, and that they need to begin to find other income sources. In a letter to oil minister, Ali al Naimi and other top government officials, Alwaleed said that fracking was responsible for the declining demand for oil from OPEC. Alwaleed recommends that the oil rich country, should diversify immediately before the impact gets to be out of hand. He says that the Saudi's dependence on oil income is, "a truth that has really become a source of worry for many".
  • Federal agents raid Colorado drilling office with wells in Oklahoma and Texas

    07/31/2013 8:57:52 AM PDT · by Nachum · 10 replies
    Newsok ^ | 7//31/13 | ASSOCIATED PRESS
    BASALT, Colo. Federal agents with the FBI, IRS and Bureau of Land Management have served a search warrant at the offices of Crystal River Oil and Gas in Basalt. IRS special agent Karen Gurgel said the action on Tuesday is part of a criminal investigation, but she did not elaborate. Crystal River Oil and Gas operates 300 oil-and-gas producing wells in six states, with a focus on Texas and Oklahoma. It also has offices in California.
  • Wells documented: Baker Hughes adds to its famous rig count

    07/19/2013 6:05:45 AM PDT · by thackney
    Fuel Fix ^ | July 18, 2013 | Harry R. Weber
    Oil field services giant Baker Hughes for decades has been the go-to source for the number of drilling rigs operating in a given week or month. Now, it is adding a count of new U.S. onshore oil and gas wells to its data set. The Houston-based company said Thursday that the quarterly well count when combined with the rig count will allow the industry to track the efficiency of operations in various onshore basins. For instance, current data shows that in the Williston, Marcellus, and Eagle Ford plays, there are about 20 percent more wells per rig compared...
  • Interior chief: New drilling in the Atlantic and Pacific? Yeah, were not doing that

    06/06/2013 6:34:35 PM PDT · by Hojczyk · 10 replies
    Hot Air ^ | June 6, 2013 | ERIKA JOHNSEN
    Interior Secretary Sally Jewell said Thursday that the White House wont allow drilling in the Atlantic Ocean while House Republicans are putting the finishing touches on legislation to do so. Weve done a five-year plan it doesnt include the Atlantic. I dont expect to go back on that, Jewell told reporters Thursday after a Senate Energy and Natural Resources Committee hearing. President Obamas five-year drilling plan, which runs through 2017, doesnt offer any lease sales in Atlantic or Pacific coastal waters. A 2010 draft of his plan included Atlantic waters, but Obama pulled back on it following the Gulf...
  • Big Data And Microseismic Imaging Will Accelerate The Smart Drilling Oil And Gas Revolution

    05/11/2013 9:37:13 PM PDT · by ckilmer · 5 replies
    Forbes ^ | 5/08/2013 @ 9:24AM | Mark P. Mills
    Over the past five years, technology has improved the productivity of the typical oil or gas rig on Americas shale fields between 200 and 300 percent.
  • Theres Twice as Much Oil Below North Dakota than We Thought

    05/01/2013 12:27:59 PM PDT · by Nachum · 42 replies
    Free Enterprise ^ | 5/1/13 | Sean Hackbarth
    Dont expect the energy boom in Montana and the Dakotas to end anytime soon. According to the United States Geological Survey (USGS), the formations below these three states hold double the amount of oil and triple the amount of natural gas than was believed five years ago. National Journal reports: The formations, called Bakken and Three Forks, span much of western North Dakota, the northern tip of South Dakota and the northeastern tip of Montana. The last time the United States Geological Survey assessed this area for its oil and gas reserves was in 2008. But that assessment did not...
  • Obama's Good War

    03/31/2011 12:48:57 AM PDT · by neverdem · 12 replies
    American Thinker ^ | March 31, 2011 | James Lewis
    Well, well, well, so Obama has embarked on his third war in little more than two years. You've got to admit that "flexibility" is his middle name. Or at least one of his middle names: Barack Barry Hussein "Flexibility" Soetoro Obama, Jr. Those are the names we know so far, but The Donald thinks there might be more. Whodda thunk? Here we are barely into the first week of what started out as a "No-Fly Zone" and it is now turning out to be Air Al Qaida. Ten years ago, AQ had a mere four civilian airplanes to crash into...
  • Vitter wants answers on Brazil drilling loan; Paul wanted answers too

    03/22/2011 2:19:36 PM PDT · by Crush · 31 replies
    The US Report ^ | 22 March 2011 | Kay Day
    Sen. David Vitter (R-La.) wants answers from the US taxpayer supported Export-Import bank about a $2 billion loan to Brazil for offshore drilling. Vitters home state is suffering under a moratorium imposed by President Barack Obama. Vitter said Louisianians are frustrated and he wants to know why permitting domestically is nearly stalled Rep. Ron Paul (R-Texas) had questions about ExIMnine years ago when he asked Congress to reject the reauthorization of ExIm for economic, constitutional and moral reasons. Vitter sent a letter to Fred Hochberg, Ex-Im president, on March 17. Vitter asked Hochberg to identify all US companies that have...
  • Kerry Has Investments in Companies Accused of Violating Iran Sanctions

    12/21/2012 10:50:39 AM PST · by Sub-Driver · 22 replies
    Kerry Has Investments in Companies Accused of Violating Iran Sanctions Daniel Halper December 21, 2012 12:59 PM John Kerry, who will be nominated later today to be the next secretary of state, is the richest member of the U.S. Senate. His estimated net worth is, at minimum, $198.65 million, according to disclosure forms. Kerry's disclosure forms also reveal that he has invested in companies accused of doing business with Iran. One of the companies Kerry is invested in is called Petroleo Brasileiro SA Petrobras (Petrobras), it's a Brazilian-based oil and gas corporation. Disclosure forms reveal that Kerry has between $150,000...
  • Explosion On West Cote Blanche Platform

    11/16/2012 10:22:12 AM PST · by Joe 6-pack · 5 replies
    KPEL 96.5 FM ^ | 11/16/12 | KPEL 96.5
    The U.S. Coast Guard says an explosion took place on a platfrom near West Cote Blanche around 9 a.m. today. Four people were put on medivac transport and taken out of the area, and are now hospitalized. Two people remain missing. Petty Officer 3rd Class Jonathan Lally, a spokesman for the Coast Guard, did not immediately have information on the conditions of those taken to hospitals. Lally says two helicopters, an airplane and small boats were sent to the area. The Coast Guard has now confirmed that the fire is out on the platform. The production platform is owned by...
  • An American Oil Find That Holds More Than All of OPEC [UT,CO]

    11/13/2012 1:31:10 PM PST · by Red Badger · 40 replies
    ABC ^ | Nov. 13, 2012 | By ALAN FARNHAM
    Drillers in Utah and Colorado are poking into a massive shale deposit trying to find a way to unlock oil reserves that are so vast they would swamp OPEC. A recent report by the U.S. Government Accountability Office estimated that if half of the oil bound up in the rock of the Green River Formation could be recovered it would be "equal to the entire world's proven oil reserves." Both the GAO and private industry estimate the amount of oil recoverable to be 3 trillion barrels. "In the past 100 years in all of human history -- we have...
  • More public lands to be closed to shale oil drilling

    11/10/2012 7:27:18 PM PST · by SeekAndFind · 4 replies
    Hotair ^ | 11/10/2012 | Jazz Shaw
    In the final days of the election I made what turned out to be a clearly futile effort to demonstrate that the future of energy production, as well as the associated jobs and economic boost which go with it, could be significantly affected by the outcome. One candidate had a substantially pro-energy policy which included completing the Keystone pipeline and unshackling promising areas of domestic energy development. The other did not. Taking a line from Bruce Willis for a moment... I hate it when I'm right. The Interior Department on Friday issued a final plan to close 1.6 million acres...
  • Obamas Interior Dept. Bans Drilling on 11.5 Million Acres of Petroleum Reserve in Alaska

    10/15/2012 8:06:17 PM PDT · by Kolath · 28 replies
    Conservatives4Palin ^ | 10/15/2012 | Stacy Drake
    Earlier today, Governor Palin retweeted Jedediah Bila concerning this stunning move by the Obama administration to cut off 11.5 acres of domestic energy production in Alaska
  • Reminder: Oil and gas production just keep falling under President Obama

    10/12/2012 2:55:25 PM PDT · by Kaslin · 8 replies
    Hot Air.com ^ | October 12, 2012 | ERIKA JOHNON
    President Obama certainly knows how to talk a good game when it comes to energy policy; to the low-information layman, “all of the above” sounds like a superficially excellent plan. Work on green energy development, but keep the traditional fuel production comin’ — it’s the best of both worlds, right? Except that that’s not what the Obama administration has done at all. While the feds have poured billions upon billions of taxpayer dollars into picking economic winners and losers in the clean-energy field, Obama’s EPA/Energy/Interior team have waged a regulatory war on the coal industry and only allowed for relatively...