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Month: June 2018

OPEC indecision possibility | OutPut by Rig Lynx

June 22, 2018
| Archives

Back in 2011, when OPEC met to discuss raising oil production to offset the drop in Libya, resulting from the civil war, Saudi Arabia’s Ali al-Naimi called it “one of the worst meetings ever.†That meeting ended without consensus and this is likely to happen again this week, when the cartel meets to discuss another production increase. The fault line

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First Oil Refinery in Mongolia | OutPut by Rig Lynx

June 19, 2018
| Archives

Mongolia will hold a ground-breaking ceremony for its first oil refinery in southeastern Dornogovi Province later this month, the country’s Foreign Ministry said Tuesday. The ceremony will take place on June 22 in Altanshiree soum (administrative subdivisions) of Dornogovi province, attended by Mongolian Prime minister Ukhnaa Hurelsukh and Indian Minister for Home Affairs Rajnath Singh, among other officials,

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Oil Price Differential, Who Wins? | OutPut by Rig Lynx

June 19, 2018
| Archives

A complex quandary is currently happening in the Permian Basin. Basis-differentials. In the energy sector, a basis-differential represents the difference in prices between locations. For example, the price received by a producer for a barrel of oil sold in Cushing, Okla., the WTI benchmark, is approximately $65. The price paid to sell that same barrel of oil

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Balmorhea, Love Hate Relationship with Oil and Gas | OutPut by Rig Lynx

June 19, 2018
| Archives

What is a reader to think when a newspaper story is accompanied by two almost diametrically-opposed headlines in the print and online editions? Readers of the San Antonio Express News were faced with that conundrum on June 15, when a story about how citizens in the West Texas town of Balmorhea were feeling about the development of the massive

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Nuclear, Still Viable of Course | OutPut by Rig Lynx

June 19, 2018
| Archives

Everybody wants to do something about nuclear waste. Nuclear plant operators and most House members want to bury it in Nevada. A bipartisan group of senators wants states to compete for it. And Bill Gates and other entrepreneurs want to reuse it as fuel in next generation reactors. Almost everybody is wrong to do so. Nuclear waste has never been

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2021- Total Kicking off Production In Uganda

June 19, 2018
| Archives

French oil major Total says it expects to start producing oil in Uganda in 2021 at the earliest, the second firm to suggest it will be unable to meet the 2020 target set by the East African country. Total, alongside China’s CNOOC, are the majority owners and operators of Uganda’s oilfields, while London-listed Tullow Oil owns a small

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64 Million Rate Cut in Oklahoma | OutPut by Rig Lynx

June 19, 2018
| Archives

The Oklahoma Corporation Commission has approved a $64 million rate cut in utility bills proposed by Oklahoma’s largest electric utility. The commission voted 3-0 Tuesday to approve the cut that was agreed to following months of negotiations between Oklahoma Gas & Electric, the state Attorney General’s Office, the commission’s Public Utilities Division and others over a proposal filed

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“Austin Chalk†a comeback kid? | OutPut by Rig Lynx

June 18, 2018
| Archives

The Permian has been getting most of the headlines on U.S. shale, but there is another play in the vicinity that has been attracting more industry attention than media attention. Pretty much forgotten since the ‘90s, when shale oil and gas moved to the forefront of the U.S. oil industry, the Austin Chalk has now gotten a

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Growing global energy demand makes a world powered by renewables a distant goal says Halliburton CEO | OutPut by Rig Lynx

June 18, 2018
| Archives

The chief executive of Halliburton on Friday touted the Houston energy sector’s rebound from the recent oil bust and the brightening outlook for the industry, predicting that the world will continue to rely on oil and gas for many decades to come. Jeff Miller, speaking at the Greater Houston Partnership’s annual State of Energy luncheon, pushed back against

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