This is a great EOG well that has just come off line:
- 17416, 1,124, EOG, Austin 16-19H, Parshall, t12/08; cum 859K 8/18; the well came off line 8/18 and remains off line as of 9/18;
One area of the Permian, called the Delaware Basin, consumed the equivalent of 350 megawatts this summer, tripling its load from 2015. That’s enough to power about 280,000 U.S. homes. Providers say demand is likely to triple again by 2022.Think about that: just "one" area of the Permian consumed the equivalent of 350 MW this summer, tripling its load from 2015; enough to power almost 300,000 US homes; and it is likely that electricity demand will triple again by 2022.
GE to focus on aviation, power and renewable energy. ... GE aims to strengthen its balance sheet by reducing Industrial net debt by about USD 25 billion (EUR 21.4bn) by 2020. The company is continuing with efforts to shrink GE Capital and targets sales of USD 25 billion in energy and industrial finance assets by 2020 -- June 26, 2018.Exxon partnered with a Danish company to provide its electricity power needs. Exxon did not partner with GE. Say what? Under 12-year agreements with Denmark’s Orsted, Exxon will buy 500 megawatts of wind and solar power in the Permian Basin, the fastest growing U.S. oil field. It is the largest ever renewable power contract signed by an oil company. Terms weren’t disclosed.
“In sum, a strategy must recognize what is possible. In climate research and modelling, we should recognize that we are dealing with a coupled non-linear chaotic system, and therefore that the long-term prediction of future climate states is not possible.”Where did that come from? I thought you would never ask. See below.
“In sum, a strategy must recognize what is possible. In climate research and modelling, we should recognize that we are dealing with a coupled non-linear chaotic system, and therefore that the long-term prediction of future climate states is not possible.”This seems fairly easy to read. Pretty easy English. Eighth grade English.
Companies such as Continental Resources Inc., Pioneer Natural Resources Co. and Devon Energy Corp. generated substantial free-cash flow in the quarter while still clocking production growth well into the double digits. EOG Resources Inc. made more than $1 billion in the period, putting it in the same league as veteran majors such as Italy’s Eni SpA and ConocoPhillips.
“At a $65 to $70 price deck we had a lot of free cash flow being forecasted but at these levels all that free cash flow is gone,” said Dane Gregoris, senior vice president at RS Energy Group.
Devon, Occidental and Anadarko were among companies that used excess cash to buy back shares this year, while others such as EOG hiked dividends.
Russell married three times, adopted three children, and in 1955 founded Waif, the first international adoption program. She received several accolades for her achievements in films, including having her hand and footprints immortalized in the forecourt of Grauman's Chinese Theatre, and having a star on the Hollywood Walk of Fame.In between the movies last night, the TCM host talked about the movie, Jane Russell, Howard Hughes, and RKO.
A style or genre of cinematographic film marked by a mood of pessimism, fatalism, and menace. The term was originally applied (by a group of French critics) to American thriller or detective films made in the period 1944–54 and to the work of directors such as Orson Welles, Fritz Lang, and Billy Wilder.Vincent Price stole the show. If you haven't seen this movie, it's worth watching just to see him (Vincent Price) and ... Mr Magoo.
As readers of this blog know, Russell's allure has never been forgotten by Baltimore movie-lovers. Sun entertainment writer and Maryland Film Festival 3-D guru Chris Kaltenbach told me a year ago that his ideal 3-D presentation would be to "bring the Jane Russell 1954 3-D extravaganza 'The French Line' to Baltimore. Hey, a guy can dream, can't he?"Also, Martin Hickes, In Praise of Jane Russell. In the clip below, Ms Russell is #27 of 50. It's hard to believe but my wife says she met in person one of the "classic beauties of Hollywood," and, in person, she says, she was even more beautiful than in her pictures. I find that amazing. And uplifting. And wonderful. The toughest part of the Academy Awards show -- when I used to watch many years ago -- was the In Memoriam,
Canada’s lingering crude glut isn’t hindering the country’s growing oil output, according to the National Energy Board’s most recent forecast.Now this line in the second paragraph:
The raised production outlook comes even as pipeline bottlenecks have driven Canadian crude prices to record lows and prompted some producers, including Canadian Natural Resources Ltd. and Athabasca Oil Corp., to reduce output by about 160,000 barrels a day, according to estimates by TD Securities Inc.It's hard for me to accept the writers' premise when they say "Canada's lingering crude glut isn't hindering the country's growing oil output."
From Platts:So, yesterday, Platts says Pemex "doubled its estimate for the Ixachi oil field, putting oil and gas reserves at 750 million boe.
When I first saw the headline that Pemex "doubles" its reserves at Ixachi, I was excited. Then I saw the numbers: max production at 80,000 boepd and, reserves increased to 750 million boe. Not exciting.
- Pemex (Mexico) doubles Ixachi oil and gas reserves to 750 million boe
- production to peak at 80,000 beopd
- development cast estimated at $1.5 billion
The Bakken currently produces about 80,000 boe in 90 minutes. Bakken reserves: for those with exuberant "feelings" about the Bakken, as much as 50 billion boe, maybe more.
750 million / 50 billion = 1.5%. And that's just the Bakken.
I wonder if we should start measuring pools of oil in "Permians." For example, the Bakken would be estimated to be 0.25 Permians. The Ixahi reserves would be 0.00375 Permians. At 268 billion bbls (wiki), Saudi Arabia's reserves would be 1.34 Permians. I would like to use the Bakken as the "unit of measure" for any number of reasons, but I would be voted off the island -- "everyone" would vote for the "Permian."
And then the day we have a massive carbon tax and no one can afford oil at all -- sort of like the yellow vests in France -- we can take oil off the "Permian standard."
This summer and fall, more than a half dozen companies and midstream joint ventures have announced plans for new deepwater export terminals along the Gulf Coast that — if all built — would have the capacity to load and send out more than 10 MMb/d, which is notable because the U.S. Lower 48 currently produces 11.2 MMb/d. Most of these projects won’t get built, of course — export volumes may well continue rising, and the economics of fully loading VLCCs at deepwater ports are compelling, but even the most optimistic forecasts suggest that only one or two of these new terminals will be needed through the early 2020s. So, there’s a fierce competition on among developers to advance their VLCC-ready export projects to Final Investment Decisions (FIDs) first. Today, we discuss highlights from its most recent analysis of deepwater crude export terminals as well as the export growth and tanker-loading economics that are driving the project-development frenzy.
So far in 2018, the U.S. has exported more than 524 million barrels of crude oil and export volumes — lately hovering around the 1.8 MMb/d mark — are likely to continue increasing next year and in 2020. The export boom is made possible by the lifting of the ban on most U.S. crude exports in December 2015 and is driven by rising production in the Permian, Eagle Ford, SCOOP/STACK and other major plays. U.S. crude production has reached 11.7 MMb/d — all but 500 Mb/d of it in the Lower 48 — and RBN forecasts that output will rise another 500 Mb/d by April 2019. These production gains are occurring despite pipeline takeaway constraints out of the Permian, and may well accelerate in late 2019 and early 2020 as new pipeline capacity comes online, eliminating bottlenecks between West Texas and the Gulf Coast.