GLG News by Oil and Gas Industry Experts (Gulf of Mexico)

Andrew E. Kramer in Moscow reported in the October 23 issue of the International Herald Tribune that OPEC’s Secretary General Abdullah al-Badri has held meetings with President Dmitri Medvedev to discuss possible cooperation in crude oil production cuts. On Russian television, Medvedev told al-Badri...

Russia has several issues of significance that keep them from becoming a major participant in OPEC price support efforts. This article does not take into account these macor-economic and geopolitical issues.

On October 17, the Oilvoice Newsletter reported a speech by Andy Inglis, Chief Executive of BP Exploration & Production at Rice University in Houston, where BP has established partnership arrangement. Inglis did not refer to retiring baby boomers. Changing the guard means plugging the capability...

The current slide in crude prices, casualty of the global financial and credit crisis, should serve as a harbinger to producers that there is a need for a shift in how they manage production and pricing. The current pricing mechanisms used based upon existing markets in the US and Europe exposes these...

Roger Lowenstein reported in the October 18-19 issue of the International Herald Tribune that before the mortgage meltdown crisis, the primary economic problem in the U.S. was energy. The presidential campaigns were focused on gasoline prices. Ordinary people commenced walking to town rather than driving....

Jad Mouawad in New York reported in the October 17 issue of the International Herald Tribune that crude oil prices fell below $70/bbl on Thursday triggering an emergency OPEC meeting set for next Friday (October 24). Analysts expect a production cut of one million bbl/day. Oil company executives and...

The Oil Voice Newsletter reported October 17 on an article by Neil King Jr. & Spencer Swartz (Dow Jones Newswires) regarding the pressure of falling crude oil prices on the budgets of some oil-producing countries. Iran and Venezuela are particularly concerned because oil revenues keep their strained...

The editors of the Oil & Gas Journal reported on line on October 14 that production from Beaver field in British Columbia may be extended by a new pay zone. On a three day test, Questerre and Transeuro’s A-5 well flowed 10 million cubic feet/day of dry gas at 3,000 psi tubing head pressure. The...

Major implications are in the safety of the contracts signed with the Kurdistan Regional Government and requirement of more funding in the absence of oil exports.

The New York Times on October 15 noted the importance of the Marcellus shale in Appalachia as a source of shale gas. To make these deep natural gas wells commercial requires horizontal drilling and multiple fracturing of the pay zone. Fracturing entails high pressure injection of large volumes of water...