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In its January 2023 Short-Term Energy Outlook , the US Energy Information Administration (EIA) forecasts that crude oil production in the United States will average 12.4 In 2022, US crude oil production averaged an estimated 11.9 EIA based the forecast on expectations of crude oil prices and infrastructure capacity additions.
Canadian oil and gas pipeline giant Enbridge just launched its first solar farm in Texas, adding more clean energy to its all-of-the-aboveenergy mix, mainly fossil fuels.
The US Department of the Interior will offer more than 21 million acres offshore Texas for oil and gas exploration and development in a lease sale that will include all available unleased areas in the Western Gulf of Mexico Planning Area. Ultra-deep gas royalty relief required under EPAct will still be available.
In 2021, proved reserves of natural gas set a new record in the United States, and proved reserves of crude oil and lease condensate increased, but not quite to pre-pandemic levels, according to the US Energy Information Administration (EIA). In 2021, Texas’s annual crude oil and lease condensate proved reserves increased by 12% (1.9
Since the EU imposed sanctions on Russia in the wake of the invasion of Ukraine, there has been a redrawing of the global oil map, a new study by Transport & Environment (T&E) shows. Instead of cutting demand, Europe has simply replaced imports from Russia with oil from other producing countries.
Beaudreau released the final details for an oil and gas lease sale that will offer more than 20 million acres offshore and will make available all unleased areas in the Western Gulf of Mexico Planning Area. Secretary of the Interior Ken Salazar and Bureau of Ocean Energy Management (BOEM) Director Tommy P. Earlier post.).
The trajectory of North American gas supply is set to change radically as a result of the fall in oil prices that has occurred due to COVID-19 and the breakdown in production cooperation between OPEC and Russia, according to IHS Markit. Associated gas is regular natural gas that is produced together with oil out of the same well.
The US Bureau of Ocean Energy Management (BOEM) will offer more than 20 million acres offshore Texas for oil and gas exploration and development in a lease sale that will include all available unleased areas in the Western Gulf of Mexico Planning Area. Earlier post.) Earlier post.)
China “could not and should not&# set an upper limit on greenhouse gas emissions at the current phase, said Su Wei, the chief negotiator of China for climate change talks in Copenhagen, at a meeting in Beijing on China’s climate change policies in the post-Copenhagen era. They want to take the money and run.
The shale revolution’s sweet spot is oilfield services, the lower-risk backbone of the American oil and gas boom that pays off regardless of a play’s economics. And while oil prices slumped in October, drilling activity continues to rise, according to Baker Hughes , the third-largest oil services company.
The US Department of Energy’s (DOE) Office of Fossil Energy (FE) has selected 11 research projects that will help find ways to extract more energy from unconventional oil and gas resources while reducing environmental risks for awards totalling $12.4 The selections include $10.3 The selections include $10.3
The US Bureau of Ocean Energy Management (BOEM) has completed a draft environmental impact statement regarding multiple oil and gas lease sales tentatively scheduled between 2012 and 2017 in the Western and Central Gulf of Mexico planning areas, offshore the states of Texas, Louisiana, Mississippi and Alabama.
GE Oil & Gas has received an order for the offshore oil and gas industry’s first 20,000-psi (20-ksi)-rated deepwater blowout preventer (BOP) stack and riser systems from Maersk Drilling. It was the failure of the BOP stack on the Macondo well that enabled the massive oil release from the Deepwater Horizon disaster.
million to establish new geothermal energy and heat production from abandoned oil and gas wells. This work also supports the creation of new clean energy jobs, helping transition some of the oil and gas workforce to the production of renewable energy. ICE Thermal Harvesting (Houston, TX). This program is part of the?Wells
The Unified Area Command for the response to the Deepwater Horizon oil spill reported on Sunday that the Riser Insertion Tube Tool—one of several subsea options BP is developing—was successfully tested and inserted into the leaking riser Saturday night, capturing some amounts of oil and gas. Click to enlarge.
The oil and gas boom in the United States was made possible by the extensive credit afforded to drillers. As is the nature of the junk-bond market, lots of money flowed to companies with much riskier drilling prospects than, say, the oil majors. The situation will compound itself if oil prices stay low.
United States M&A activity for upstream oil and gas deals set records in 2011 for both deal values and deal counts, according to PLS, Inc., a provider of information, marketing and advisory services for the oil and gas industry. We expect continued strong activity in oil and liquids-rich resource plays in 2012.
has partnered with KKR to buy most of privately-owned US oil and gas firm Samson Investment Co. aiming to start exporting liquefied natural gas to Japan as early as 2015. The company will initially sell shale gas in North America with an eye toward eventually exporting it to Japan and other parts of Asia.
The number of active rigs drilling for oil and gas fell by their most in two months, according to the latest data from oil services firm Baker Hughes. There were 19 oil rigs that were removed from operation as of Oct. There are now 1,590 active oil rigs, the lowest level in six weeks.
A research team led by The University of Texas at Austin, and including engineering and environmental testing firms URS and Aerodyne Research, is conducting a major field study to measure methane emissions from natural gas production, about which little empirical data exist.
Alta Resources, LLC and Blackstone Capital Partners, an affiliate of The Blackstone Group have formed Alta Energy Partners which will invest up to $1 billion to acquire and develop unconventional oil and gas assets in North America. Founded in 1999 by Joseph G.
Shell and The University of Texas at Austin signed a five-year agreement to invest $7.5 million to address short- and long-term challenges facing the growing worldwide unconventional oil and gas industry. Shale gas is abundant, widely used, and a growing source of energy in the United States.
The agreement, which is subject to XTO stockholder approval and regulatory clearance, will enhance ExxonMobil’s position in the development of unconventional natural gas and oil resources. XTO’s resource base is the equivalent of 45 trillion cubic feet of gas and includes shale gas, tight gas, coal bed methane and shale oil.
Apache Corporation has confirmed the discovery of a significant new resource play—the “Alpine High”—in the southern portion of the Delaware Basin, primarily in Reeves County, Texas. Apache also sees significant oil potential in the shallower Pennsylvanian, Bone Springs and Wolfcamp formations.
Billions of barrels of oil may be potentially recoverable from residual oil zones in the US, according to initial findings from a study supported by the US Department of Energy’s Office of Fossil Energy (FE). Residual oil zones (ROZs), are areas of immobile oil found below the oil-water contact of a reservoir.
Secretary of the Interior Ken Salazar announced that the Central Gulf of Mexico oil and gas lease sale attracted $1,704,500,995 in high bids for tracts on the US outer continental shelf offshore Louisiana, Mississippi and Alabama. billion barrels of oil and 3.3 trillion cubic feet of natural gas.
Oil remains the world’s leading fuel, but its 33.1% Oil demand grew by less than 1%—the slowest rate amongst fossil fuels—while gas grew by 2.2%, and coal was the only fossil fuel with above average annual consumption growth at 5.4% The fossil fuel mix continues to change with oil, the world’s leading fuel at 33.1%
As part of a larger reorganization of its Global Oilfield and Mining Solutions business, BASF is establishing a dedicated Global Enhanced Oil Recovery (EOR) Business Development unit. Houston is recognized as the global hub for the oil and gas industry.
Engineers from the University of Houston and the University of Texas report that waterflooding with a surfactant—thereby altering the wettability of oil reservoir rocks—can increase oil recovery from 62 to 85%. Carbonate rocks tend to be “oil-wet”—i.e., The key problem in applying CO 2.
North Dakota crude oil production (including lease condensate) averaged an all-time high of 770,000 barrels per day in December 2012, according to the US Energy Information Administration (EIA). Much of crude oil production in North Dakota is gathered and transported by truck to railcars leaving the state. Source: EIA.
Researchers at the Goodyear Tire & Rubber Company have found in their tests that using soybean oil in tires can potentially increase tread life by 10% and reduce the tiremaker’s use of petroleum-based oil by up to seven million gallons each year.
Summit Power Group, LLC and Blue Strategies, LLC have signed a 15-year CO 2 offtake agreement with Whiting Petroleum Corporation for some of the CO 2 that will be captured by Summit’s Texas Clean Energy Project ( TCEP ), a coal gasification with carbon capture polygen project being developed in Penwell, Texas, outside Odessa.
million to study the effects of the Deepwater Horizon oil spill in the Gulf of Mexico. The GRI also funds research that improves techniques for detecting oil and gas, spill mitigation, and technologies to characterize and remediate spills. Lead Institution: Texas A&M University at College Station. Rabalais, Ph.D.
The Board of Directors of Marathon Oil Corporation has approved moving forward with plans to spin off Marathon’s downstream business, creating two independent energy companies. Marathon Oil Corporation (MRO) will be a global upstream company based in Houston, Texas. Strengthened ability to attract and retain talent.
The Wolfcamp shale in the Midland Basin portion of Texas’ Permian Basin province contains an estimated mean of 20 billion barrels of oil, 16 trillion cubic feet of associated natural gas, and 1.6 billion barrels of natural gas liquids, according to an assessment by the US Geological Survey.
Crude oil just capped off a third straight week of declines, as WTI nears the $40 per barrel threshold. Goldman Sachs is once again raising the possibility of oil dipping into the $20s per barrel. Still, upstream E&P companies are also being substantially squeezed by another plunge in oil prices. According to Graves & Co.,
US crude oil proved reserves increased for the fifth year in a row in 2013, a net addition of 3.1 billion barrels of proved oil reserves (a 9% increase) according to US Crude Oil and Natural Gas Proved Reserves, 2013 , released today by the US Energy Information Administration (EIA). Combined, these two states added 21.8
Texas-based fuel company Nacero ( earlier post ) will build its second low- and zero-carbon fuels plant in Newport Township, Pennsylvania. The new manufacturing facility will produce low- and zero-lifecycle carbon footprint gasoline blendstock made from natural gas and renewable natural gas.
Greyrock Energy, a company transforming natural gas into premium transportation fuels ( earlier post ), announced a final investment decision (FID) to build a small-scale Gas-to-Liquids (GTL) facility near Houston, Texas. Bolin, Chairman, Eagle Oil & Gas. —Pat S.
Engineers at the University of Pittsburgh Swanson School of Engineering are using membrane distillation technology to enable drillers to filter and reuse the produced water in the oil and gas industry, in agriculture, and other beneficial uses. Shamlou, Elmira & Vidic, Radisav & Khanna, Vikas. Desalination. doi: 10.1016/j.desal.2021.115513.
Electrofuels innovator Infinium ( earlier post ) has entered into a strategic alliance with US independent energy company Denbury to collaborate on developing ultra-low carbon electrofuels projects in the state of Texas. MMBOE of estimated proved oil and natural gas reserves as of 31 December 2020, of which 98% is oil.
Shell Oil Company has signed an agreement with Ryder System for 15 liquefied natural gas (LNG) heavy-duty vehicles supporting oil and gas logistics operations in Lafayette, La. and Houston, Texas. facility, which is being engineered to meet the unique compliance requirements for natural gas.
Motiva, the joint venture between Shell and Saudi Aramco, marked the completion of a five-year construction project that more than doubled the daily processing capacity of the Motiva Refinery in Port Arthur, Texas to 600,000 barrels of crude. Light ends-Naphtha is processed in the Saturates Gas Plant which is integrated on the VPS plot.
Petrobras announced a new oil discovery in the extreme southwestern part of the Walker Ridge concession area, located in the US Gulf of Mexico ultra-deep waters. a subsidiary of Petrobras headquartered in Houston, Texas) holds 35% of the stake, while Ecopetrol America and OOGC hold 20% and 10%, respectively. The Logan discovery.
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