GLG News by Oil and Gas Well Drilling Experts

Reuters reported in the august 16 issue of the International Herald Tribune that OPEC cut its forecast of global crude oil demand for the fifth month. Production is more than adequate. Supply and demand are in balance. The 13 members of OPEC produce 40% of the world supply. Higher OPEC production and...

Senior Associate Editor Judy R. Clark reported in the August 11 issue of the Oil & Gas Journal that technological advances in the use of high temperature heat to produce heavy crude oil may resolve major problems. Both dependence on politically unstable sources of foreign oil and generation of greenhouse...

Christopher Swann (Bloomberg) in Washington reported in the August 12 issue of the International Herald Tribune that the World Bank has provided funding for the Tata Ultra Mega power plant in western India. This comes one year after Robert Zoellick, president of the bank, pledged to assist in fighting...

The Oil & Gas Journal reported in the issue of August 11 that Southwestern Energy Company of Houston was running 500 million cubic feet/day from its Fayetteville shale in north-central Arkansas. The company, with 857,000 net acres, estimated that ultimate recovery could be improved by up to 20%...

Chris Borowski (Reuters) in Warsaw reported in the August 8 issue of the International Herald Tribune that OMV, the Austrian oil and gas company, still holds 20.2% of MOL’s stock. MOL is the Hungarian national oil company which successfully resisted the merger attempt. OMV had expected a merger with...

The Oil & Gas Journal reported in the issue of August 4 that U.S. crude oil demand dropped 3% during the first half to 20.08 million bbl/day. It was the first large drop since 1991. The report was published July 18 by the American Petroleum Institute. Gasoline deliveries fell 1.7%. Remarkably it...

Washington Editor Nick Snow reported in the August 4 issue of the Oil & Gas Journal that experts say a basic force behind higher oil and gas prices is more expensive exploration and production. Policy focus is on crude oil price but Cambridge Energy Research Associates Chairman Daniel Yergin said...

Washington Editor Nick Snow reported in the August 4 issue of the Oil & Gas Journal that the United States has 2,247 trillion cubic feet of natural reserves, a 118 year supply at 2007 demand levels. A study released by the American Clean Skies Foundation (ACSF) and Navigant Consulting Inc., explains...

Felicity Barringer reported in the August 4 issue of the International Herald Tribune that the U.S. Congress is debating whether to intensify drilling efforts on government land. Consumers want lower gasoline prices but most new onshore drilling during the last seven years found natural gas. Oil production...

Kate Galbraith in Dallas reported in the August 6 issue of the International Herald Tribune that Americans are thinking about using natural gas to power automobiles. T. Boone Pickens, the oilman in Texas is pushing for it. His fear of reliance on foreign oil is behind his belief that natural gas is...