GLG News by Shallow Drilling Experts

Nick Snow prepared a special report on the unfolding shale gas play in three eastern states of the U.S. which appeared in the November 10 issue of the Oil & Gas Journal. The Marcellus shale extends 575 miles across parts of Pennsylvania, New York and West Virginia. With about 50 trillion cubic feet...

In an editorial in the November 3 issue of the Oil & Gas Journal, Production Editor Guntis Moritis discussed countries of the world that look to oil shale as a future energy source. The global shale oil resource base is estimated to be at least 2.6 trillion barrels. Today Estonia, China and Brazil...

Lloyd’s List published on November 6, a report by Keith Wallis in Dalian, China and Mike Grinter in Hong Kong detailing the existing surplus of liquefied natural gas (LNG) carriers. Of 300 hundred existing LNG carriers now in the worldwide fleet, only 240 are required. Making matters worse will be the...

Jan Mouawad in New York reported in the November 7 issue of the International Herald Tribune that the International Energy Agency warned that the world’s energy system would require large investments. Growing demand and global warming were urgent issues. Two forces strain the system. Growing energy...

Rigzone Newsletter reported on November 7 that Baker Hughes INTEQ Division had introduced a new high speed telemetric service. The technology can be applied to mud pulse or wired pipe operations. The service, trade named aXcelerate, will be a game changer according to Paul Butero, president of INTEQ....

The Rig Zone Newsletter reported November 5 on the Pioneer Natural Resources results for the third quarter. The company lost $0.03/share including noncash charges of $112 million. Excluding these, earnings were $0.91/share. The quarter was impacted by the loss of 3,000 bbl/day related to Hurricanes...

Stephen Castle in Brussels reported in the November 5 issue of the International Herald Tribune that European Union (EU) governments lowered expectations for a meeting to address financial reform worldwide. The meeting of November 15 by representatives of the world’s largest economies will be only the...

Andrew E. Kramer in Moscow reported in the October 31 issue of the International Herald Tribune that the global financial crisis had reached Russia. Central bank reserves plummeted from $600 billion on August 8 to $484 billion today. With oil prices falling rapidly, Russia has used up reserves faster...

Julia Werdiger in London reported in the October 30 issue of the International Herald Tribune that energy companies must continue to invest during the downturn. That was the message of Total’s CEO Christophe de Margerie at the Oil & Money 2008 conference in London. He said that supply would remain...

Jad Mouawad in New York and Julia Werdigier in London reported in the October 31 issue of the International Herald Tribune that Exxon Mobil (XOM) and Royal Dutch Shell (RDS) earned higher-than-expected profits for the third quarter of 2008.Xom posted profits of $14.8 billion while RDS turned in $8.45...