GLG News by Oil and Gas Well Drilling Experts

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...

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...

Oil Diplomacy Editor Eric Watkins reported in the October 13 issue of the Oil & Gas Journal that Indonesia’s declining oil production is said to be the result of political uncertainty. The nation recently withdrew from OPEC. When the Suharto government fell in 1998, confusion pevailed in the state-run...

The Oilvoice Newsletter of October 13 reported on a credit update published by FX Energy. The company has taken steps to improve its liquidity by drawing $14 million from its Royal Bank of Scotland (RBS) Senior Credit Facility. This brings the company’s cash position up to $24 million and will be used...

In the October 6 issue of the Oil & Gas Journal, Drilling Editor Nina M. Rach reported on the Brazilian “presalt” play in the Santos basin. Petrobras, Chevron and Royal Dutch Shell shared their experiences in Rio de Janeiro in September. From 2003 to 2006, Petrobras discovered five giant fields...

David Jolly in Paris reported in the October 11-12 issue of the International Herald Tribune that oil prices fell on Friday to their lowest level in over a year. The International Energy Agency cut its forecast for global demand as the world’s economy slowed. Forecast for 2008 demand was reduced by...

James M. Peck of Deep Seek Exploration Experts reported in the October 6 issue of the Oil & Gas Journal that the Eastern Mediterranean basin is a prolific hydrocarbon area. The geology is the result of a five-stage tectonic process from the Late Triassic to the Pliocene flood period. The basins...