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Month: June 2018

The Gap from the Permian to the Coast | OutPut by Rig Lynx

June 13, 2018
| Archives

(Bloomberg Opinion) — Energy dominance carries its own backlash, it turns out. Ground zero is the Permian basin in west Texas, where oil production has run ahead of pipeline capacity to get it to market, forcing some U.S. barrels to price at wide discounts. Thankfully, new pipelines should fix the problem by early 2020. Apparently, though, the futures

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Shift Work Strain? | OutPut by Rig Lynx

June 12, 2018
| Archives

  UK unions Unite and RMT, which represent energy workers in the UK, have condemned the three-week-on three-week off shift rota present within the UK Continental Shelf. “Many workers might say that [three-weeks-on three-weeks-off] doesn’t sound too bad … The reality for oil workers is so different,†Tommy Campbell, Aberdeen-based Unite regional officer, told Rigzone. Campbell said this “punitive†system

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History Should be the First Checkbox | OutPut by Rig Lynx

June 12, 2018
| Archives

Some years ago, an academic colleague referred to an older economist as ‘a historian,’ which was clearly intended as an insult, given the fetishism among American academic economists for higher-level mathematics.  I can’t count the number of time economists have said to me that they simply cannot read the American Economic Review anymore because the math is impenetrable to

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Well Flipping, What’s That Cost? | OutPut by Rig Lynx

June 12, 2018
| Archives

  Last year the fracking company Halcón Resources announced a new strategy that was sold as the path to profits for the previously troubled shale oil and gas firm. The company had sold its stake in the Bakken oil fields in order to double down on the Permian shale in Texas. At the time, Reuters touted the deal as a “stunning turnaround†for CEO Floyd Wilson,

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US Withdrawal from Iran Deal, India and Iran Trade Will Take a Hit | OutPut by Rig Lynx

June 11, 2018
| Archives

President Donald Trump withdrew from the landmark Iran nuclear deal in May following months of speculation. Formally titled the “Joint Comprehensive Plan of Action†(JCOPA), the multilateral accord was aimed at limiting Tehran’s disputed nuclear program in exchange for relief from international sanctions targeting Iran’s lucrative oil trade with countries like India. Shortly after the agreement was

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Total LNG Stepping Up Their Game | OutPut by Rig Lynx

June 11, 2018
| Archives

Shareholders of Clean Energy, the California-based liquefied natural gas (LNG) supplier for transport, approved on Friday the recent deal with France’s Total under which the latter will buy up to 50.8 million shares of Clean Energy for $83.4 million. Clean Energy shareholders approved, by over 97 percent of the shares present at the company’s annual shareholders meeting, the purchase by Total

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European Pact Grabs Another 3 Billion Cubic Meters of Gas and 250 Mill BBLs of Oil | OutPut by Rig Lynx

June 11, 2018
| Archives

  Algeria’s Sonatrach on Monday signed a 25-year extension for exploration and development with France’s Total and Spain’s Repsol for the Tin Foye Tabankort gas field in block 238, the state energy firm said and was confirmed by the French oil major. “These investments will allow to maintain the production of the field, which is currently over 80,000 barrels of oil equivalent per day for 6 years,†Total

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“The transition to a more sustainable energy system is too slow†| OutPut by Rig Lynx

June 9, 2018
| Archives

  Peak oil demand could come around 2030 at 111 million bpd in the current market as road transport electrification and efficiency gains in all sectors offsets increasing petrochemical and aviation growth, Norway’s Equinor said in its Energy Perspectives report on Thursday. That assumption is one of Equinor’s scenarios for energy transition, Reform, which suggests that oil demand will grow robustly

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