GLG News by Shallow Drilling Experts

Rigzone News on December 12 cited a Dow Jones Newswire report by Doug Cameron and Isabel Ordonez reporting on a speech by Rex Tillerson. The venue was a Chicago presentation by the CEO of Exxon Mobil (XOM). He suggested that the president-elect adopt a realistic long-term energy policy. Mr. Tillerson...

Jude Clemente at San Diego University reported in the December 15 issue of the Oil & Gas Journal that the irreversible decline of Mexico’s Cantarell field puts Mexican oil production levels at risk. Most analysts focus on what the drop-off menfor the U.S. which gets 16% of its imports from Mexico....

John Vautrain, vice president of Purvin & Gertz in Singapore reported that Asian refining capacity continues to grow despite a poor global economic outlook. The lengthy article appeared in the December 15 issue of the Oil & Gas Journal. Purvin & Gertz is a chemical engineering consulting...

Jad Mouawad in New York reported in the December 16 issue of the International Herald Tribune that dozens of major oil and gas projects have been put on hold in recent weeks. Companies are rapidly coming to grips with the collapse of the energy markets. While falling crude oil prices are good for consumers...

James Kanter and Stephen Castle in Brussels reported in the December 13-14 issue of the International Herald Tribune that leaders of the European Union (EU) agreed on binding legislation that would curb global warming. They also endorsed a $267 billion expenditure to lessen the effect of a looming recession....

The Rigzone newsletter reported on December 5 that Arawak has temporarily curtailed crude oil production at four fields in Kazakhstan.High customs export duties (CED) amount to $28.31/bbl. A court ruling in September upheld a decision by the authorities to exempt the Akzhar field but a demand reappeared...

Andrew E. Kramer in Moscow reported in the December 11 issue of the International Herald Tribune that Russia will announce a coordination of crude oil output with OPEC. World oil prices rose in response to comments made by minister of energy Sergei Shmatko revealing that by December 17, when OPEC meets...

The staff of Offshore magazine reported on November 19 that National Oilwell Varco (NOV) and Schlumberger agreed to form a joint venture to develop wired drill string telemetry systems. The purpose of the joint venture is to accelerate delivery of drilling intelligence to the customer, expanding the...

In the December 8 issue, the Oil & Gas Journal reported that Wood Mackenzie Ltd predicted that natural gas would trade in the $5-6/million btu range over the next five years. The industry’s successful development of shale gas has created the potential for oversupply. Jen Snyder, head of WoodMac...

Editors of the Oil & Gas Journal reported on December 9 that three operators reported new horizontal completions in the Jurassic Haynesville shale play. Production rates were high. Petrohawk Energy’s Sample 9-1 in Red River Parish, Louisiana came in at 28.2 million cubic feet/day (cod) with flowing...