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EIA: U.S. crude oil production growth helps reduce Gulf Coast imports

In recent years, higher domestic production of light, tight crude oil has led to a reduction in crude oil imports. Certain types of crude oil have been affected more than others; for example, the increased economic availability of domestic light, tight crude oil has virtually eliminated Gulf Coast imports of light crude oil. In the past year, Gulf Coast imports of medium crude oil have also fallen because of increased production from the Eagle FordBakken, and Permian regions.

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BP: US surpassing Saudis in oil output among world’s ‘tectonic’ energy shifts in 2014

An eventful 2014 in the world oil and gas markets was headlined by the US overtaking Saudi Arabia as the world’s biggest oil producer and surpassing Russia as the world’s largest producer of both oil and gas, BP PLC said in its 64th Statistical Review of World Energy released June 10.

The US last year recorded the largest oil output growth in the world at 1.6 million b/d, becoming the first country ever to increase production by at least 1 million b/d for 3 consecutive years.

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Oil rises to $66 on U.S. inventory drop, Iraq

LONDON – Oil rose for a second day on Thursday and briefly reached $66 a barrel, supported by expectations that a global supply glut is starting to ease and by fighting in Iraq.

The U.S. government’s supply report on Wednesday showed crude inventories declined for a third week. Stockpiles had been at record levels due to excess supply, raising concern that storage tanks could fill up.

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North Dakota oil production up 12,500 barrels daily in March

North Dakota Oil Production up 12,500 barrels daily in march
BISMARCK, N.D. (AP) — North Dakota produced an average of about 1.19 million barrels of oil a day in March.

The Department of Mineral Resources says the March production was up about 12,500 barrels a day from February's average.

Western North Dakota's oil patch had a record 12,430 producing wells in March, up from 12,199 in February.

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Watching The Defections - Is New Permian Crude Pipeline Capacity Needed?

Last Friday (May 8, 2015), Baker Hughes data showed the Permian basin oil rig count up by two – suggesting that drilling may be picking up in West Texas. A week earlier at the end of April, Enterprise Products Partners (EPD) announced they are moving ahead with a new pipeline from the Permian basin to the Houston area – set to come online in 2017. The new pipeline will add 540 Mb/d of takeaway capacity and comes on top of 450 Mb/d being added in the Permian this year by the Plains All American Cactus and Energy Transfer Partners Permian Express II pipelines. Today we look at the new project and whether the incremental takeaway capacity is necessary.

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Oil hits 2015 highs above $67 as Libyan output slows

LONDON (Reuters) – Oil prices jumped more than $1 a barrel on Tuesday, pushing North Sea Brent and U.S. light crude to 2015 highs, after protests stopped crude flows to the eastern Libyan oil port of Zueitina, hampering exports.

Zueitina was one of the few Libyan ports still exporting oil as many others have closed due to fighting or disruptions at oilfields since the ousting of former dictator Muammar Gaddafi.

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Do You Know The Way To Monterey?—Pitfalls And Potential In A California Play

Estimates of how much oil or natural gas are “technically” or “economically” recoverable are moving targets. Until just a few years ago, the hydrocarbon-producing potential of the Bakken, the Permian and the Marcellus were vastly underestimated—hardly anyone would have wagered in 1995 that North Dakota, West Texas and northeastern Pennsylvania would emerge as oil and gas hotspots. So what are we to make of California’s Monterey tight oil play, which as recently as 2011 was hailed as the next big thing for tight-oil production, but which is now on just about no one’s mind? Today, we consider what it might take to turn a hydrocarbon frog into a prince.

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Enbridge, TransCanada, Kinder Morgan evaluating aerial-based oil and gas pipeline safety technologies

Three North American pipeline industry leaders - Enbridge Pipelines Inc., TransCanada Corporation, and Kinder Morgan Canada - have signed a Joint Industry Partnership (JIP) agreement to conduct research into aerial-based leak detection technologies, in the interest of enhancing across-the-board pipeline safety.

This partnership illustrates a spirit of collaboration among TransCanada, Kinder Morgan and Enbridge in the continued common pursuit of industry-wide safety and operational excellence. It also demonstrates the partners' commitment to investing in the leading-edge tools and technologies that can bolster safety and reliability, while at the same time addressing public demands for responsible pipeline development.

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EIA: Eagle Ford’s Eagleville oil field largest in US

The Eagleville oil field in South Texas, discovered only in 2009, is the largest in the US, according to a supplement to a report from the US Energy Information Administration called “US Crude Oil and Natural Gas Proved Reserves, 2013.”

EIA respectively ranked the top 100 oil and gas fields in the US based on estimated 2013 proved reserves. Actual proved reserves numbers by field, however, were not disclosed. The agency's last top 100 rankings covered 2009 estimated proved reserves.

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AEO2015: US on Track to Eliminate Net Energy Imports by 2030

Continued growth in oil and natural gas production, growth in the use of renewables, and the application of demand-side efficiencies show the potential to eliminate net US energy imports in the 2020 to 2030 timeframe, according to projections in the Annual Energy Outlook 2015 (AEO2015), released by the US Energy Information Administration. The US has been a net importer of energy since the 1950s.

AEO2015 presents updated projections for US energy markets through 2040. “The projections provide a basis for examination and discussion of energy market trends and serve as a starting point for analysis of potential changes in US energy policies, rules, and regulations, as well as the potential role of advanced technologies,” EIA said.

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ONEOK Partners and Fermaca to Construct an Export Natural Gas Pipeline from West Texas to Mexico

ONEOK Partners

ONEOK Partners, L.P. (NYSE: OKS) today announced that it has entered into a 50-50 joint venture with a subsidiary of Fermaca Infrastructure B.V. (Fermaca), a Mexico City-based natural gas infrastructure company, to construct a pipeline that would transport natural gas from the Permian Basin in West Texas to Mexico.

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Customer Testimonial

“Valin Measurement Group drastically increases production measurement and reduces pressure drop through their LACT units.”

Eagle Ford Shale Asset Manager