By: Jackie DeAngelis Chevron is strategically investing in the Gulf of Mexico, spending almost $12 billion and boosting its labor force as it prepares to launch two deep-water platforms now under construction. The platforms, Jack St. Malo and Big Foot, are named after the fields where they are located. They’re both being assembled at the… Keep reading →
All oil and gas fields face natural decline rates as reservoir pressure decreases and continually declining production must be addressed by drilling more wells and injecting substances like natural gas, carbon dioxide or steam into the formation to maintain pressure and coax the remaining hydrocarbons toward production wells. This process is known in the industry… Keep reading →
The giant Kashagan oil field located in Kazakhstan’s North Caspian Sea is one of the largest fields discovered in recent history. The field was extremely challenging to develop and its cost skyrocketed from original estimates around $60 billion to a reported $136 billion. After numerous delays, first oil was produced from Kashagan on September 11,… Keep reading →
Where do we begin? Breaking Energy featured the Russian energy business in a recent Quote of the Day and it’s not that we’re picking on the country, but the murky world of Kremlin insiders – many former KGB personnel – running oil and gas companies with shares listed on public exchanges is nothing short of… Keep reading →
“The world has failed us,” Ecuadorian President Rafael Correa recently said regarding a missed opportunity to preserve pristine Amazon rainforest from oil development. The government offered to forgo drilling in the oil-rich region if the international community donated $3.6 billion to a preservation trust fund. The initiative reportedly raised only $13 million. The proposal dates… Keep reading →
A recent Wall Street Journal article discussed major oil company reserve holdings and how investors should evaluate a company’s reserve quality, quantity and global geographic distribution. It is an interesting story about a very important topic, but a lack of clarity with regard to some of the methodology and terminology leaves many questions unanswered. However,… Keep reading →
The world’s 11 “largest” listed oil companies were recently compared on a reserves basis, ostensibly to help investors analyze the firms. But “largest” and “resources” were not defined, and international oil companies were compared with national oil companies, which leaves plenty of questions. [Wall Street Journal] Mexico announced it will alter its constitution to allow… Keep reading →
