Wells coming off confidential list today and over the weekend were reported earlier; see sidebar at the right.
One last permit for 2013:
- 24692, loc, Whiting, Faiman 34-33PH, St Anthony, Dunn County
Today's ceramic proppants come either from overseas -- Brazil, Russia or China -- or from the "kaolin belt" in Georgia and eastern Alabama. That is because they must contain either kaolin or bauxite to work in current formulations.
Austin-based Brownwood Clay Holdings, LLC, (BCH) is announcing the development of a method for making ceramic proppant out of a type of clay found near many of the top shale formations which, if proven commercially viable, could slash the cost and the delivery time for this type of proppant.
The product is currently completing the testing phase, according to Gary Davis, co-operating manager of BCH, and is looking for a partner to manufacture the proppant. Should they find one in 2013, Davis said they could have product ready for delivery by 2015.
The idea has been under consideration for two to three years, starting with the consideration of how to utilize a clay deposit on 476 acres of land BCH owned near Brownwood. BCH consists of a number of owners of this land, some of which have been connected with the property for more than 50 years, others for just a few years. The clay had previously been used for brick and tile, but Davis and his associates were looking for greater uses.
The past nine months have been painful for investors with exposure to the Canadian resource sector. The smaller the company, the greater the pain.Got that out of the way.
In the Williston Basin, Legacy has both light oil resource plays (Bakken, Torquay, Spearfish) and conventional Mississippian (Souris Valley, Tilston, Alida, Frobisher, Midale). The production from these plays is a high quality light oil averaging 37 degrees API.
On 242,352 net acres of undeveloped land, Legacy has more than 1,000 (net) drilling locations as follows:
- Bakken - more than 200 net development drilling locations at four wells per section
- Torquay - large resource mapped adjacent to Sinclair Torquay pool
- More than 350 net Mississippian development drilling locations
- Spearfish - more than 440 net locations at eight wells per section
All of these areas are well defined by 3-D seismic and have significant reserve growth potential through the use of waterflooding.
The U.S. shale-gas revolution, which has revitalized chemicals companies and prompted talk of domestic energy self-sufficiency, is attracting a wave of investment that may revive profits in the steel industry.
Austrian steelmaker Voestalpine ..... may construct a 500 million-euro ($661 million) factory in the U.S. to benefit from cheap gas. Nucor Corp., the most valuable U.S. steelmaker, plans to start up a $750 million Louisiana project in mid-2013. They’re among at least five U.S. plants under consideration or being built that would use gas instead of coal to purify iron ore, the main ingredient in steel.
“That technology has been around 30 years, but for 29 years gas prices in the U.S. were so high that the technology was not economical,” said Michelle Applebaum, managing partner at consulting firm .... “This is how steel will be built moving forward.”No links but the winter storms continue: today in Oklahoma, later this week, the East Coast.
Valero Energy Corp. has received approval from the Commerce Department to ship crude from the U.S. Gulf Coast to its Quebec City refinery.
The 235,000-barrel-a-day refinery processes primarily light, low-sulfur crude from Europe and Africa, Bill Klesse, Valero’s chief executive officer, said during the company’s third-quarter earnings call on Oct. 30. Shipping costs from the Gulf Coast to Quebec averaged about $2 a barrel or less, he said. The company hasn’t transported any significant shipments yet, Bill Day, a San Antonio, Texas-based spokesman for the company, said today [December 20, 2012] in an e-mail.
U.S. crude production increased to 6.863 million barrels a day last week, the most since January 1994, Energy Department data show. The production gains have been primarily light, low sulfur crude from Bakken and Eagle Ford shale formations in North Dakota and southern Texas. U.S. crude moving to Canada would displace light, sweet oil from West African nations like Nigeria and Angola, said Amrita Sen, chief oil market analyst for Energy Aspects Ltd in London.Nothing else to say.