Table of ContentsRegular FeaturesOGJ NewsletterLettersWestbrook respondsThe letter by Jeff Temple (OGJ, December 8, 2008, p. 14) on my letter (OGJ, Nov. 3, 2008, p. 12) has about a dozen areas deserving comment. I will cite six.
Journally SpeakingNew SEC reserves rulesThe oil and gas industry will have modernized US Security and Exchange Commission’s rules for reporting oil and gas reserves.
Services/SuppliersServices/SuppliersHouston, has appointed a global materials engineering team headed by Michael Wheatcroft.
Equip/Software/LitEditor's PerspectiveForecasts for oil prices depend on economic outlookGuess the question from the answer: It all depends on the global economy.
Market JournalDemand and prices fallEven as a winter storm dumped snow and ice on the US Midwest and East Coast during Christmas week, markets remained unconvinced the Organization of Petroleum Exporting Countries can cut production fast enough to offset plummeting demand for oil.
General InterestEDITORIAL: Peak oil and politicsPeak oil theory is important both to consider and to keep in perspective, especially as government activism regains traction in the world’s largest oil-consuming country.
Texas tall tale provides metaphor for oil industry: a bouncing targetThere’s a Texas tall tale about legendary cowboy Pecos Bill who succumbed to his new bride’s pleas to ride his wild mustang, Widowmaker?a one-man steed previously ridden only by Bill.
Oil and gas opportunities endure amid the many uncertainties of 2009While 2009 will be characterized by uncertainty, lower oil and gas prices, a hostile Congress, demand shrinkage, and major investment pullbacks by the global oil and gas industry, there also will be a number of positive developments and opportunities for the industry.
US shale gas surge stimulating< construction of processing plantsRising production of natural gas will stimulate construction of gas processing plants in the US this year.
US gives gas extra attention as output grows from shalesUS natural gas, particularly shale gas, will receive increasing attention in 2009 because crude oil is becoming increasingly difficult and expensive to find and produce.
Downturn will spur M&A activity as operators cut spending in ’09What the oil and gas industry didn’t see much of in 2008 was consolidation.
View from London: Price swings change industry on many frontsWhat a difference a year makes in the oil industry?or perhaps in this case 5 months.
Lower E&P spending ends 6-year global rallyGlobal spending for exploration and production is expected to decline 12% to $400 billion in 2009?“a reversal after 6 years of global growth,” said analysts at Barclays Capital Resources, New York.
CERA: ‘Recession shock’ shakes world oil marketThe world oil market is being shaken by “a recession shock” that affects all conventional, alternative, and renewable energy,” said the chairman of Cambridge Energy Research Associates (CERA).
Economy, season, other factors reduce rig countUS drilling fell for the fifth consecutive week, down by 26 rotary rigs to 1,764 still working during the week ended Dec. 19, compared with a rig count of 1,809 in the same period last year, said Baker Hughes Inc.
Two bidders disrupt BLM lease sale in UtahUS Bureau of Land Management special agents detained two registered bidders after a Dec. 19 oil and gas lease sale in Utah was delayed briefly.
Watching Government: 2008 in reviewHappy New Year! This year promises to be a challenging and exciting year for oil and gas in Washington.
Salazar to lead ‘deeply troubled’ Interior departmentBarack Obama formally nominated US Sen. Ken Salazar (D-Colo.) on Dec. 17 to lead what the president-elect termed a “deeply troubled” Department of the Interior.
BMI: US to see further oil, gas supply shortfallsAnalyst Business Monitor International (BMI) predicts that the US will account for 89.87% of North American regional oil demand by 2012, while contributing 65.63% to its supply.
Watching The World: Japan and ChinaShould anyone be concerned about the continuing rivalry between Japan and China over pursuit of the world’s oil and gas? It may be well to remember some history.
Exploration & DevelopmentNongas-phase hydrocarbon sampling aids detection of seepage anomaliesIt has been established that subsurface hydrocarbon reservoirs leak and that escaping gases cause numerous detectable alteration anomalies.
Drilling & ProductionChina’s low-permeability gas resources await developmentChina has large volumes of low-permeability natural gas resources with unique characteristics that could be exploited with appropriate technologies.
Modeling optimizes casing points in Persian Gulf wellsResearchers modeled casing-point setting depths in National Iranian Oil Co.’s RSH field using various tools and scenarios to save as much as 15%.
ProcessingStudy examines effect of cetane improversAn investigation of the effect of cetane improvers on diesel cetane number showed that diesel fuels have a low sensitivity to the additives.
Nelson-Farrar Quarterly Costimating: How refinery fuel indexes have variedRefinery fuels costs have endured an unsteady course since 2005.
TransportationCASPIAN NATURAL GAS?1: Kazakh export plans affect regional producers, buyersHow Kazakhstan?the second largest oil and gas producer in the former Soviet Union after Russia?chooses to develop its gas resources and export infrastructure will affect both gas exports from other energy-producing countries of the FSU and European and Chinese plans for diversifying its natural gas supplies.
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