The ongoing surge in domestic oil and gas production continues to outpace gains made by wind and solar-based energy developments, despite calls from certain factions to break America’s oil addiction and build a fossil fuel-free economy. These were the findings of Robert Bryce, senior fellow of the Manhattan Institute in a recent Wall Street JournalRead more
Blog
Following recent moves by the governors of New York and New Jersey to nix new gas pipeline projects, the region’s gas utilities are warning of future shortages for new and existing customers. Courtesy Williams. Pro-gas groups see the decision to cancel the pipelines as a move to pander to climate-change and pro-renewable energy advocates. NewRead more
Independent E&Ps looking to unload some of their shale real estate in the Permian basin are not generating much interest from the majors. A number of big oil companies—ExxonMobil, Royal Dutch Shell and Chevron included—have all gone on record stating that they are wary of buying up assets from smaller companies at a time ofRead more
A recent forecast by Rystad Energy states that renewable energy developments in the Asia-Pacific region are set to outspend exploration and production (E&P) activities in 2020. With the exception of China, total CAPEX in renewable developments of all types will overtake E&P spending next year. The energy research firm anticipates the largest investments will comeRead more
Last year saw a major turnaround in publicly listed E&P companies’ free cash flow fortunes to levels not seen since before the mid-decade downturn. According to energy analyst Rystad Energy, free cash flow for E&P firms reached nearly $300 billion in 2018, marking a return to so-called “super profits” for industry majors. Free cash flowRead more
The number of seismic activities that can be physically felt—those which are magnitude 2.8 (M-2.8) or greater—fell from a monthly average of 162 in June 2015 to just 25 in June 2018. At the same time, oil production grew by 20 percent and injection rates into disposal wells dropped. Recent data from the USRead more
News wires were abuzz last week with the announcement that the US had become a net oil exporter for the first time in nearly 75 years. This is major news, but does it truly mark a milestone toward the country’s goal of energy independence? And is the claim even true in the first place? USRead more
A new report by the US Geological Survey (USGS) states that the Delaware Basin’s Wolfcamp shale and Bone Springs Formation hold the largest potential oil and gas resources ever discovered. The regions may hold as much as 46.3 billion barrels of oil, 281 trillion cubic feet of gas and 20 billion barrels of NGL. Read more
The persistent presence of low magnitude earthquakes in the Delaware Basin, namely in Reeves County, is prompting Texas regulators to enact new policies for reviewing disposal well permits. The Texas Railroad Commission (RRC), the state agency charged with regulating the exploration, production, and transportation of oil and gas, acknowledges that the landscape is about toRead more
Alaska’s magnitude-7 quake on November 30th caused major disruptions in and around Anchorage—knocking out power, shaking buildings and breaking major roadways apart. While there have been no reports of fatalities or serious injuries thus far, more than 1,000 aftershocks have rocked the region over the weekend—some felt up to 400 miles away. Earthquake activity recorderRead more