GLG News by Oil and Gas Well Drilling Experts

What is the cost and profit per barrel of oil?  What products are in one barrel (42 gallons) of oil?  Could the government, both federal and state, be a larger part of the equation than "Big Oil"?

Jad Mouawad in New York and Martin Fackler in Geoje, South Korea reported in the June 19 issue of the International Herald Tribune that a shortage of offshore drilling ships will impede a fast turn around in oil exploration. Slow growth of supply in the face of soaring demand has sent the price of crude...

In the issue of June 16, the Oil & Gas Journal noted that more operators have been attracted to the play. The increased activity is attributed to Chesapeake Energy’s suggestion that the Haynesville shale in East Texas appears to be a better reservoir than the Barnett shale in the Fort Worth basin....

Guntis Moritis, Production Editor reported in the June 9 issue of the Oil & Gas Journal that a large number of oil and gas projects will start to produce in the next few years. His analysis projects that 47 countries will reach peak production in 2008 or after. His list of announced projects include...

Ronald D. Ripple, PhD, a teaching professor of economics at Macquarie University in Sydney wrote a long, analytical piece of futures trading in oil and gas. His article appeared in the June 9 issue of the Oil & Gas Journal. His interest and intent was to dispel concerns about the effect of speculative...

Jeff Franks (Reuters) in Havana reported in the June13 issue of the International Herald Tribune that Cuba plans a drilling campaign off the north coast of the island. The U.S. Geological Survey estimates that the Cuban oil field could contain 5 billion barrels of oil and 10 trillion cubic feet of natural...

Matthew Saltmarsh in Paris reported in the June11 issue of the International Herald Tribune that the International Energy Agency lowered its forecast of crude oil demand. The agency now thinks global consumption will be 86.8 million bbl/day in 2008. that is a reduction of 70,000  bbl/day from its...

Dale Fuchs in Madrid and Alan Cowell in Paris reported in the June 10 issue of the International Herald Tribune that Spanish truckers began blockading the borders with France on Monday. Traffic was blocked in both directions. Some strike-breakers found their vehicles damaged. Traffic was also slowed...

Alison Smale in St. Petersburg reported in the June 9 issue of the International Herald Tribune that the chief executives of the major oil companies met at the St. Petersburg International Economic Forum. BP, Royal Dutch Shell, Chevron, Exxon Mobil, ConocoPhillips, Total, Schlumberger, Dow Chemical,...

 Mr. Whitmore thinks that everything is peachy keen with the U.S. $. He thinks oil suppliers are conspiring to elevate prices.