GLG News by Shallow Drilling Experts

Senior Staff Writer Paula Dittrick reported in the September 15 issue of the Oil & Gas Journal that oil and gas companies’ 2007 global upstream investments totaled $402 billion, unchanged from 2006. The data were published by IHS Herold Inc. and Harrison Lovegrove & Co. Ltd. Lower levels of...

The Oil & Gas Journal reported in the September 15 issue that Delaware basin shales are not yet commercial but have the potential to become so. AAPG geoscientist Travis J. Kinley, et al of Texas Christian University studied the shale gas potential of the Barnett and Woodford shales in this West...

Drilling Editor Nina M. Rach reported in the September 8 issue of the Oil & Gas Journal that Shell Exploration & Production Company had erected the 555 feet long truss which is called “Perdido Regional Host”. A drilling rig will be set upon the topsides of the spar for additional drilling and...

Andrew E. Kramer, James Glanz and Campbell Robertson reported in the September 12 issue of the International Herald Tribune that an Iraqi plan to award six no-bid contracts to Western oil companies has been withdrawn. The Iraqi oil minister said that the talks had dragged on for so long that the companies...

Senior Correspondent Eric Watkins reported in the September 8 issue of the Oil & Gas Journal that China National Petroleum Company (CNPC) will develop Ahdab oil field. The project was agreed in 1997 but postponed because of the U.S. invasion of Iraq in 2003. CNPC will provide technicians, oil workers...

Andrew E. Kramer in Moscow and Julia Werdigier in London reported in the September 5 issue of the International Herald Tribune that BP reached agreement with Russian partners on its joint venture. It will retain access to the oil fields in Russia but surrender some of its authority to its partners....

Clifford Krauss in Houston assisted by Michael M. Grynbaum in New York reported in the September 3 issue of the International Herald Tribune that crude oil futures fell to $105/bbl when it seemed evident that damage to oil and gas installations in the Gulf of Mexico were relatively slight. Hurricane...

Jad Mouawad in New York reported in the September 5 issue of the International Herald Tribune that OPEC is concerned about falling crude oil prices. Venezuela and Iran said they did not want the price to fall below $100/bbl. Both signaled that there was now a need to cut production. Algeria and Kuwait...

Drilling Editor Nina M. Rach reported in the September 1 issue of the Oil & Gas Journal that solid natural gas prices and focus on deep shale gas drilling is pushing expansion of land rig construction. Day rates in August for land rigs in the U.S. were in the range $18,000-$23,500, up from $15,000-$21,000...

Elisabeth Rosenthal in Rome reported in the August 30-31 issue of the International Herald Tribune that Europeans are willing to pay the current high cost of driving. High fuel prices alone may not deter drivers. Some people are driving less and gasoline purchases in Italy have fallen by 10% from a...