The world’s largest oilfield services company has determined the best way to insure it has sufficient work and makes money is to spend billions of dollars for stakes in its customers’ oil and gas drilling projects.
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The U.S. oil and gas industry has been preparing for the 2017 hurricane season, building upon critical lessons learned from 2008’s major hurricanes, Gustav and Ike, as well as storms such as 2005’s Katrina and 2012’s Sandy. Despite said preparation, Harvey, the wettest tropical cyclone on record in the country, has caused major disruption in the heart of its O&G industry, Kallanihs Energy reports.
The San Juan Basin is a lot like the late comedian Rodney Dangerfield: It gets no respect. Last November, drilling in the often-overlooked basin that straddles the Colorado-New Mexico border came to a complete stop. No one was drilling. Some companies including WPX and ConocoPhillips sold off San Juan Basin assets. It was a region falling out of favor. It was being marginalized. It has produced good but not spectacular results for decades. It has more than 40,000 wells that tap 300 different oil fields. It has been known for its coal bed methane formations.
The UK will end the sale of all new conventional gasoline and diesel cars by 2040, as part of a £3 billion ($3.92 billion) plan to tackle air pollution, environment secretary Michael Gove said on Wednesday, Kallanish Energy reports.
Ethane is a unique energy commodity – the only such energy product that can morph from being sold as part of the natural gas stream, to being separated and sold to petrochemical plants as feedstock.
The U.S. oil and gas industry generally operates under a Catch-22 mentality: When prices are high, run flat out, because there’s no doubt when the good times end, prices drop and the music stops, there will be fewer chairs than people.