Saturday, April 9, 2011
Friday, April 8, 2011
Oil and Gas by the Numbers 04/08/2011
Good Afternoon! As I sit and listen to the news today I can't help but think too many people in DC are wanting a long vacation over Easter. However with fuel prices what they are most of us will have to be conservative. WTI rings in at noon today at $111.82/barrel. It seems that the trend is going to keep climbing. With summer coming in some parts of the US the demand should also increase to support the climbing prices. For those of you interested in where the economists think that our oil costs are going make sure to check out the link: Poll predicts 130 oil in 2011.
United States Total: 1782 (an increase of 6)
TX: 791
LA: 174
OK: 160
ND: 159
PA: 107
NM: 76
CO: 72
WY: 40
CA: 41
MT: 11
AK: 4
For more information and other state counts please check out: Baker Hughes Rig Count.
TX: 412
ND: 36
MT: 6 new, 6 reissued
CA: no new report
CO: no new report
WY: 42
US Low: WY $3.459
US High: HI $4.470
Rig Count
updated 04/08/11
United States Total: 1782 (an increase of 6)
TX: 791
LA: 174
OK: 160
ND: 159
PA: 107
NM: 76
CO: 72
WY: 40
CA: 41
MT: 11
AK: 4
For more information and other state counts please check out: Baker Hughes Rig Count.
Permits Issued for Drilling
04/01/11 thru 04/07/11
TX: 412
ND: 36
MT: 6 new, 6 reissued
CA: no new report
CO: no new report
WY: 42
Gasoline Prices
04/08/11
National Average: $3.727/galUS Low: WY $3.459
US High: HI $4.470
Devon Energy gets approval to Drill for oil in Campbell County WY
Devon Energy's Waterbuck oil well permit was just approved on 04/07/2011. This permit is issued for Campbell county WY and will target the Niobrara formation. The full report from WOGCC's website is listed below:
Devon Energy - Waterbuck
Devon Energy - Waterbuck
Poll predicts $130 oil in 2011
If the prices at the pump are not high enough to deter you yet then just wait a month or two. Experts are predicting that $150/barrel on the BRENT is a possibility for this year.
Poll predicts $130 oil in 2011 - Upstream Online
Poll predicts $130 oil in 2011 - Upstream Online
Berry slapped with $2.1m fine
Berry Petroleum faces the $2.1 million price tag for shoddy work of an employee in equalizer valve installation and as-builts.
Berry slapped with $2.1m fine - Upstream Online
Berry slapped with $2.1m fine - Upstream Online
ConocoPhillips executive warns of low Trans-Alaska Pipeline System flow
Low production and high taxes threaten the use of the Taps. With little incentive to explore and invest, one of the US's major oil resources is being under produced.
Mulva warns of low Taps flow - Upstream Online
Mulva warns of low Taps flow - Upstream Online
Thursday, April 7, 2011
Wednesday, April 6, 2011
Chesapeake marks milestone in Natural Gas conversion project
This sounds like a very economical project at a time when gasoline is moving to $4.00/gal. Chesapeake estimates that the average savings in fuel alone will be around $11 million. I haven't done the math but it looks like a win win situation. By converting 4200 vehicles to natural gas Chesapeake will set into motion several things. First pay less then a $1.50/unit of fuel is a great start. Also the market is flooded right now with natural gas so why not use it to our benefit. Then there is the feel good benefit, natural gas is a clean air fuel. With all these things in mind it is great to hear that Oklahoma has already started to provide this fuel for the public. To read more click on the link:
Chesapeake converts to Natural Gas
Chesapeake converts to Natural Gas
Tuesday, April 5, 2011
Proof Not There: Prof: Drilling, Earthquakes Not Connected
With professors from both sides of the debate now, one has to wonder the facts behind the arguement. The link below gives more light on the quest to find answers in the environmental/geological impact of gas production in the Marcellus shale formation.
Proof Not There: Prof: Drilling, Earthquakes Not Connected - News, Sports, Jobs - The Intelligencer / Wheeling News-Register
Proof Not There: Prof: Drilling, Earthquakes Not Connected - News, Sports, Jobs - The Intelligencer / Wheeling News-Register
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