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Month: May 2018

Venezuela Grid Locked! | OutPut by Rig Lynx

May 4, 2018
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  Brought to you from Output by Rig Lynx –Venezuela’s crude oil production is set to fall further in the coming months, up to another 200,000 barrels per day, according to a source inside Venezuela’s oil industry, according to S&P Global Platts. __________________________________________________________ Venezuela’s oil production has already taken one on the chin, losing millions of barrels per day coming off a

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Next Generation of Workforce? | OutPut by Rig Lynx

May 3, 2018
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Brought to you from Output by Rig Lynx – In recent years amid low commodity prices, oil and gas companies have had to reduce their headcount to lower costs, while continuing to build their talent pipeline for future success. As a result, the number of people employed in oil and gas extraction over the age of 45 fell by

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Norway, Cake and Eat it Too? | OutPut by Rig Lynx

May 3, 2018
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Brought to you from Output by Rig Lynx – OSLO — On an unseasonably warm day in May, Norway’s climate minister, Vidar Helgesen, strolled through a vast parking lot for electric cars, counting Teslas. “Two, three, four, five,†the minister marveled. And that was just one aisle. There are big perks to buying a Tesla — or any electric car — in

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Who Needs $113 Oil? | OutPut by Rig Lynx

May 3, 2018
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Brought to you from Output by Rig Lynx –Bahrain’s gross government debt could reach 102 percent in 2019 from 94.9 percent this year as the smallest oil producer in the Gulf struggles with one of the highest breakeven crude oil price levels globally, the International Monetary Fund said in the May edition of its Regional Economic Outlook for the Middle East

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The Bounce Back | OutPut by Rig Lynx

May 2, 2018
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Brought to you from Output by Rig Lynx – Saudi Arabia’s success in leading both OPEC and non-OPEC production partners in reigning in record high OECD oil inventories amid the group’s ongoing oil output cut is starting to pay off for Riyadh. __________________________________________________________ Connect with the next generation of oil and gas here Download our free app – Rig Lynx  __________________________________________________________ In a report late last

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US Oil Production Will Soon Surpass Saudi Arabia | OutPut by Rig Lynx

May 2, 2018
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Brought to you from Output by Rig Lynx – This year the surge in domestic energy production has further accelerated, in part due to higher world prices for oil (approaching $70 a barrel) and to massive drilling operations in rich oil patches, such as the Permian Basin in Texas and the Bakken shale in North Dakota. __________________________________________________________ Connect with the next generation

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$5 a Gallon – Go to Vancouver | OutPut by Rig Lynx

May 2, 2018
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Brought to you from Output by Rig Lynx – Vancouver sits less than 750 miles from the Canadian oil sands but it may as well be on another continent for vehicle drivers. Gasoline prices in the Pacific Coast city hit C$1.62 a liter ($4.77 a gallon) on Monday, the highest in North America, according to Dan McTeague, a senior petroleum

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Optimism Around Offshore Sector Increasing | OutPut by Rig Lynx

May 1, 2018
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Brought to you from Output by Rig Lynx – There’s an increasingly optimistic mood around the oil and gas industry, especially with respect to the offshore sector. That is the view of Jeff Shellebarger, Chevron North America’s president of exploration and production, who expressed the positive sentiment during a Monday presentation at the 2018 Offshore Technology Conference in Houston, Texas. “The last

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Boom Time! West Texas | OutPut by Rig Lynx

May 1, 2018
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Brought to you from Output by Rig Lynx –MIDLAND, Texas (Reuters) – In West Texas, rising oil prices are fueling a sharp economic upswing, lifting employment and pay to records, driving up spending at hotels, restaurants, and car dealerships, and raising the cost of housing and other essentials. __________________________________________________________ Connect with the next generation of oil and gas here Download our free

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