....if we have same top cover for the EPA after November, 2012.
Top ten (10) legal issues facing the oil and gas industry in 2012 and most (all?) of them have to do with fracking and issues related to fracking.
Consistent with its game plan to increase recovery rates in existing fields, during 2011 EOG continued infill drilling on its core acreage in the North Dakota Bakken Parshall Field, which it discovered in 2006.320-acre spacing. I-M-P-R-E-S-S-I-V-E.
Although originally developed on 640-acre spacing, EOG has successfully tested 320-acre down-spacing in various areas and around the perimeters of the field. A recent well in Mountrail County, the Fertile 48-0905H, in which EOG has a 96 percent working interest, was completed at an initial rate of 1,324 Bopd. Also in Mountrail County, the Liberty 24-2531H and Liberty LR 20-26H were drilled on 320-acre spacing.
The wells, in which EOG has 82 and 95 percent working interest, respectively, were turned to sales at initial crude oil rates of 1,507 and 1,165 Bopd, respectively. Over the course of 2012, EOG will continue its efforts to increase recovery of the oil-in-place on its Bakken acreage through further down-spacing tests and the initiation of a secondary recovery pilot project. [See first comment: water vs CO2?]
EOG has hedged approximately 23 percent of its North American crude oil production for 2012. For the period
February 1 through June 30, 2012, EOG has crude oil financial price swap contracts in place for approximately 33 percent of its production at a weighted average price of $105.36per barrel, excluding unexercised options. For the period July 1 through December 31, 2012, EOG has 14 percent of its production hedged at a weighted average price of $104.26per barrel, excluding unexercised options.
"We obviously have work to do still and a long way to get to the objectives we ultimately want to get to," GM Chief Financial Officer Dan Ammann told reporters.But, he could have added, we know the President's new incentives for the Volt will turn the company around.
"We clearly have work to do in Europe. We have work to do in the South America business. Frankly, we have work to do all around the company in terms of cost opportunity," he added.
Net income attributable to common shareholders was $500 million, or 28 cents a share, compared with $500 million, or 31 cents a share, in the year-ago quarter.I could be wrong, but I believe overall this was a better quarter for the auto industry than a year earlier, but I could be wrong.
Last week I got caught up in a show from a few years ago called "Mega Disasters: Oil Apocalypse" on The History Channel, spelling out the doom our economy was facing as oil production declined over the next 100 years. Domestic production was already declining, and we had no plan B. Stock up on canned soup and ammo while you still can!
If you haven't noticed, the oil apocalypse has been delayed -- again -- and the doomsday predictors are undoubtedly eating crow while they concoct another mega disaster. "Peak oil,"...
It's amazing how fast perceptions of our energy future can change. One day prevailing wisdom tells us that energy costs are going to rise uncontrollably as oil production declines and new energy sources fail to live up to their promise...
The oil scare that never goes away
We've been hearing about peak oil for years, and even some of the brightest minds in energy think the theory has some validity. But, like any other apocalypse, it never quite seems to unfold as the predictions assert. There are just too many factors that peak oil prognosticators can't account for in their bold predictions, so they always get them wrong.
"World Could See LNG Glut in 2018"
Oversupply in the domestic natural gas market has led many producers to push for the expansion of liquid natural gas processing capacity.With the right American leadership, this could be America's decade. We have a 10-year head start and manufacturers are starting to come back to the states.
[One analyst] estimates that roughly 250 million metric tons of new gas processing capacity should be available by 2018. Already LNG plants with a production capacity of 68 million metric tons of gas are in the planning phase.
By comparison, estimates suggests that global demand for LNG could rise to 408 million metric tons by the end of the decade.
Don Nelson of Winona, who stood among the group blocking the trucks, said he recognized several of the drivers from high school.Yup, these truckers are simply trying to make a living and support their families. I wonder what Daniel Wilson and Don Nelson do for a living?
"It's a mixed feeling," he said. "These truckers are trying to make a living."
"We do want (the truck drivers) to know this is a bad industry," said Daniel Wilson of Winona.
"This isn't personal, but we don't want this happening in our community."