China quietly cut its 2020 goals for shale gas, a goal that was so ambitious that few took the number seriously. The goal – to ramp up from zero commercial production of shale gas to 60-80 billion cubic meters by 2020 – was met with skepticism both inside and outside China when first announced. Now,… Keep reading →
Energy industry stakeholders from across the globe are preparing to descend on New York City for New York Energy Week – the innovative event series launched by Energy Solutions Forum – and the mix of diverse participants brings a breath of fresh air to the energy conference format. Participants include representatives from the environmental community,… Keep reading →
Unconventional oil and gas operators that is. Bloomberg research indicates numerous companies operating in various US shale plays are severely overleveraged, with interest expenses making up significant double-digit percentages of revenue in many cases. “The list of companies that are financially stressed is considerable,” said Benjamin Dell, managing partner of Kimmeridge Energy, a New York-based… Keep reading →
Industry veterans talk about “The Great Crew Change,” which is occurring as an older generation of experienced oil & gas industry employees retire. The new crew coming on to take their place is often made up of twenty- and thrity-somethings who see new opportunities in a booming industry. “The gap in generations resulted from the… Keep reading →
When China released its 2015 targets of 6.5 billion cubic meters of shale gas a few years back (source, in Chinese), it looked like the goal was out of reach. At the time, the country had zero commercial shale gas production and domestic natural gas extraction was mainly in the hands of state-owned companies. But… Keep reading →
Safe and responsible development of America’s vast oil and natural gas reserves located in shale and other tight-rock formations created the U.S. energy revolution, which continues to this day. Thanks to advanced hydraulic fracturing and horizontal drilling, the U.S. is an energy superpower. The numbers on shale energy, according to the U.S. Energy Information Administration (EIA): 3.5… Keep reading →
One emerging theme at CERA Week, currently underway in Houston, is the need for major oil companies to reduce capital expenditure amid range-bound oil prices and escalating costs. Chevron CEO John Watson reportedly said “One hundred dollars per barrel is becoming the new $20, in our business.” So ostensibly oil prices need to increase by… Keep reading →
You can’t un-ring that bell, but Total CEO Christophe de Margerie laments the fact “hydraulic fracturing” became the widely accepted terminology for the controversial well completion technology. De Margerie’s dissatisfaction with the term appears to stem from a belief that it sounds overly complex and scares the general public. The French oil major’s chief made… Keep reading →
Many in the oil & gas industry were pleased that President Obama recognized the important role dramatic hydrocarbon production increases are playing in the nation’s energy picture, but some observers feel the president took undue credit for the phenomenon during his State of the Union address last week. Much of the incremental oil & gas… Keep reading →
The 40th anniversary of the Arab oil embargo against states that supported Israel during the Yom Kippur War is an appropriate occasion to evaluate the state of the international oil market. The embargo started on October 16th, 1973. The global petroleum system was irrevocably altered by the embargo and the global oil business forever transformed… Keep reading →
