The Saga Continues
Link here. Despite court win, the Keystone is no closer to completion.
Best global warming site on the net.
Energy Transfer has invested billions of dollars in expanding its midstream infrastructure over the past few years. Many of these projects have recently entered service, which is fueling a big uptick in earnings. During the first quarter, for example, cash flow was up nearly 40% versus the year-ago period. That has the company on track to increase its earnings by about 13% from 2018's total.
However, one thing that Energy Transfer's management team made clear on its recent first-quarter conference call is that the company still has plenty of growth up ahead. Overall, it sees three main drivers that should fuel growth in the coming years: LNG, China, and oil pipelines.
.... an agreement with Shell that provides the foundation to further develop the Lake Charles LNG export facility toward a potential final investment decision or FID ... put Energy Transfer and Shell on track to approve construction early next year, which could enable them to have it in service and generating cash flow by late 2024 to early 2025.6. Eraserhead. I've never seen this movie; I desperately want to see it but I won't buy or rent the DVD and I haven't looked for any internet streaming options. I desperately want to see it but I'm afraid I will be disappointed so I have not made an effort to find it. Now, "tonight" -- or rather early tomorrow morning, TCM will show Eraserhead. It comes on about 2:30 a.m. Not sure if it's worth getting up to watch. I'll be in bed by 11:30 p.m. -- should I get up at 2:30 a.m. to watch it. Normally, I would but I will be picking up Sophia and her mother at the DFW airport tomorrow at 9:50 a.m. So, we'll see. [Later: no, I did not get up to watch it. Will have to wait for another opportunity.]
The Supreme Court ruled unanimously Monday against workers on oil drilling platforms off California who argued they should be paid for the off-work time they spend on the platform, including sleeping.8. Alexa. I honestly don't understand the controversy. I love the Echo and Alexa. It's incredible. If you don't like Alexa listening in on you:
The high court said that federal law applies to the workers and doesn't require them to be paid for nonworking time spent at their work location on the Outer Continental Shelf. The workers had argued that California law, which would require them to be compensated for that time, should apply.
Volkswagen AG luxury brand Audi is recalling its first all-electric vehicle due to the risk of a battery fire.
The company issued a voluntary recall of approximately 540 E-Tron SUV models sold in the U.S. because of a risk that moisture can seep into the battery cell through a wiring harness glitch. The company isn’t aware of any fires or injuries because of the flaw, which affects a total of 1,644 models, he said.
12. Uber Eats: $5 McDonald's meal. $15 delivery charge. Soggy French fries. [No, I did not do this; read about it on the internet some days ago; didn't get the like. Probably a fake story.]The E-Tron, which went on sale in the U.S. in April, is Audi’s first fully-electric car and one in a wave of contenders from traditional automakers looking to challenge Tesla Inc.’s dominance of the segment. While electric vehicles are no more prone to accidents or fires than gasoline-powered cars — and might be less so, according the National Highway Traffic Safety Administration — the lithium-ion battery technology that powers them is still evolving, and there is no consensus on safe system design.
In a bid to reduce its reliance on crude oil revenues, the sultanate of Oman has announced a slew of new taxes on products ranging from tobacco and alcohol to port and energy drinks, citing Oman’s Secretariat General of Taxation.
Beginning June 15th, pork meat, tobacco, and alcohol as well as energy drinks will be subject to a 100-percent tax, with carbonated drinks subject to a 50-percent levy. Last November, a senior Oman government official said the taxes could generate around US$260 million in annual revenues.
Very likely that you are the "halo" word man. I've heard it here and little elsewhere.
Really not proven yet statistically and for the longest time would irk me when you would cite an individual well versus doing a statistical review. But you definitely described the IDEA well. And the funny thing is lately there are some little inklings of support for your concept (WLL conference call). Still have my doubts, but have to be fair and not that in your favor.Thank you so much. As mentioned before, I don't have the money, time, resources, intelligence to do a statistical study of the "halo" effect.
I've heard Red Queen from the peak oilers the most. I suspect it has been around the oil patch for a long time even before that. But I first heard it used in context of shale by Rune L. of The Oil Drum: http://theoildrum.com/node/9506
[Note that the Bakken has more than doubled the Rune Red Queen prediction. And this was their tour de force, republished, pushed, super science-y...and butt-wrong.]
At least five producers, led by EOG Resources Inc., are experimenting with shooting highly-pressurized natural gas into past-their-prime wells that have seen their output slip. The wells are then capped to build up pressure inside with the aim of dislodging any oil still hiding in the rock.Note: there are three others posts regarding EOR using natural gas.
The methodology’s been used in conventional wells elsewhere with both natural gas and carbon dioxide for years, but it’s just now emerging in America’s fracked shale fields.
The win-win goal: The trapped gas is put to work, and there’s a 30%-to-70% gain in oil output from older wells, according to EOG.
In late 2018, Permian flaring -- the burning off of associated gas -- more than doubled from a year earlier to 500 million cubic feet a day, and that’s likely to rise.
Generally, the use of injected gas is known as enhanced oil recovery, or EOR. Initially, EOG was the main company using natural gas to boost shale oil output, Krishnamoorti said by telephone. "But the fact is that now we have seen four other producers do it," he said. “And with remarkable results.”
EOG has been experimenting with EOR for at least three years in the Eagle Ford basin. Gas injection can potentially extend crude production volumes in older wells by 18 to 24 months, Krishnamoorti said. What’s still to be determined is how well EOR works in different types of rock formations.
For the most part, producers have disclosed little specific information about how well the new method performs, even in the Eagle Ford, where it is increasingly being adopted.Much, much more at the link.
Three months ago, the Pacific Northwest natural gas market recorded the highest trade in U.S. spot gas price history. The region at the time was dealing with extreme winter heating demand, a pipeline outage that limited access to gas supply and storage deliverability issues –– all of which were compounding constraints in the power markets. The result was a feeding frenzy that led gas prices to skyrocket to as much as $200/MMBtu at the Sumas, WA, hub on March 1. Fast forward to today — prices there have crumbled, falling to as low as $0.80/MMBtu in trading last week. Winter demand has dissipated, pipeline and storage constraints have eased, and the region is now dealing with an entirely different — even opposite — set of problems. Today, we take a closer look at the factors behind these latest price moves.
The winter 2018-19 natural gas market was one of the most chaotic in recent memory, with the NYMEX Henry Hub futures contract swinging from nearly $5/MMBtu in November 2018 to less than $2.60/MMBtu a few months later. The physical market also posted both the highest and lowest spot trades ever seen in the U.S.: the $200/MMBtu at Sumas, WA, (again, on March 1) and a negative-$9.00/MMBtu at Waha in the Permian on April 4.
The Waha market, which, after recovering from record low, negative prices and treading above zero earlier in May, again plunged into negative territory in the last week of May. The Sumas market too has seen its share of angst in recent weeks, which is the focus of today’s discussion.