GLG News by Oilfield Equipment Experts

This article describes BP's recently announced project to install facilities for production of viscous oil with sand.  It has some implications for the future progress of oil sands development, as well.  This project may be among the list of future types of activities for the major oil companies...

Demand for oil and gas continues to increase while traditional sources of the oil dry up (i.e. the Gulf of Mexico). New sources must me explored and produced like shale oil in the US and Canada, Alaska and offshore east and west coast USA. Secondly, refinery capacity must be increased. The same people...

The average price Devon got for gas for the reporting period in this article is well below what it is today (+/- $6 versus +/-$8). Given the close to 33% increase in gas prices today and a bullish forecast for the remainder of 2007, Devon's profits should increase significantly if they can keep production...

Gas prices are what drive most of the drilling activity in North America (land) and to a lessor extend offshore GOM. Although the major and major independent operators plan their drilling budgets far enough in advance that they are less likely to be effected by price fluctuations, the smaller independents...

Natural gas prices have a significant if not the greatest effect on US Land drilling activity and, in turn,  the cost for rigs and oilfield drilling services. EOG Resources is a major player in the US Land drilling market and a significant producer of natural gas. Gas prices are...

    ExxonMobil (NYS - XOM) just posted record earnings for Q1 this past week. They are really raking it in. Although the company touted 9.3 billion net income, it also showed a $4.3 bil dollar investment in capital and exploration.[1] This article discusses some topics touched on...

    National Oilwell Varco (NOV) once again demonstrated its desire and intent to stay on top in all facets of the oil and gas equipment and services industry when it acquired Gammaloy and Marlex – two companies that specialize in drill collars and other specialty downhole equipment....

Ethanol as an energy source is not as cost efficient as we think.Cost of water, fertilizer, transportation, blending and subsidies detract from its attractiveness.In the long term we cannot produce enough renewable energy to make a signifigant dent in our energy demand.Corn and rape seed as feed...

To the uninitiated, the requests by major CA utilities for more renewables seems like a slam dunk for those seeking to sell their renewable resources.  But how real are the responders to these requests?  Are the contracts they enter into with PG&E and SCE really going to come to fruition,...

Crude Oil is at a 6 month high owing to tensions with Iran and to a lesser extent anticipation of gasoline demand for the summer. Iran holding 14 captured Naval personnel has led the market to price in a possible conflict with Iran. 25% of the world's supply of oil moves through the Straits of Hormuz....