So, it turns out The Wall Street Journal doesn’t have a section in their fine publication devoted to coated components. But here’s the thing – what we do, what you do, it’s a BIG deal. So we’re not going to quit our day jobs, but we monitor what’s going on and post it here on our site. Make sure to bookmark this page, visit often and tell your friends. This is your hub for news and updates for the industry.
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Marcellus shale continues to defy expectations and precedents. With production rates that are distinct from any other shale play seen so far in the U.S., Marcellus is driving U.S. gas production and there is the possibility Marcellus continues to defy expectations, driving US gas production even higher By:UOGR Shale has been the primary driver of US gas supply growth since 2007, and the Marcellus shale has been the largest single contributor to rising production. Marcellus production topped 14.5 bcfd in March and is expected to account for nearly one fourth of all US gas output by 2015, according to a report by Morningstar Inc. The Marcelluss eminent position stems, in part, from the ability of wells in the formation to come online at high initial production (IP) rates and to sustain those rates for longer than wells in other shale formations. Morningstar found the median Marcellus shale well continues to flow at 100% of its initial production rate for its first 6 months. Once
The Niobrara shale formation has risen to rock star status in recent years in Wyoming oil production because of its potential for vast reserves of hydrocarbons. Although the Niobrara has fallen short of its high expectations, its production has grown and along with the Codell and Sussex formations, the three are steadily lifting Wyoming up the charts. In this article, Benjamin Storrow outlines how these formations, along with recent property trades and oil prices, are priming the state for major production and major profit. Beyond the Niobrara: Wyoming oil production expands to new formations By:Benjamin Storrow The Niobrara shale formation is the proverbial rock star of Wyoming oil production. No rock formation in the state has received more attention in recent years than the Niobrara for its potentially vast reserves of hydrocarbons. And it is true that production from the Niobrara has grown, even if it is less than what was initially expected when the formation started receiving
Jeff Miller asserts that when it comes to the production of oil and gas, price and availability of these is based on our technology, not on scarcity of resources. In an optimistic piece, Miller outlines the highlights of recent innovations that will benefit the U.S. energy industry and the economy as a whole. State of Oil and Gas: Why the U.S. energy boom is so exciting By: Jeff Miller Energy demand growth in emerging economies. The increasing pressure on the conventional base of oil and gas resources. Advances in the technology of oil and gas recovery. The large and increasing geopolitical role of energy supply. The impact of energy production on our economy. Taking all of these factors into account, there probably has never been a more exciting time to be in the oil and gas business. The worlds demand for energy in general and petroleum in particular, is relentless. Even with demand in Organisation for Economic Co-operation and Development (OECD) countries essentially flat, theres
There is a lot of excitement and conversation centered around shale when it comes to oil and gas production, but there still remains some mystery about what shale actually is. In this article, D Nathan Meehan unpacks exactly what constitutes shale and provides clarity to this relevant topic. What is shale, anyway? By:D Nathan Meehan If you are reading this blog you are almost certainly aware of the current level of excitement and enthusiasm surrounding shales. Drilling campaigns for oil and gas in shale plays are underway around the world and production from shale plays represents a substantial fraction of domestic production. Shales are the most abundant types and volumes of rocks in sedimentary basins worldwide. Shales are the most abundant sources of hydrocarbons for oil and gas fields and (due to their low permeabilities) form the seal for many fields. A conventional oil or gas field needs a source, a reservoir (usually porous sandstones or carbonates such as limestone or dolomite),
Baker Hughes has released the latest numbers for US drilling rig counts, detailing the weeks changes from across the drilling spectrum. Baker Hughes: US Drilling Rig Count Jumps to 1,883 By:OGJ Editors The US drilling rig count shot up 12 units to 1,883 rigs working during the week ended July 25, Baker Hughes Inc. reported. Land rigs gained 9 units to 1,805 and offshore rigs gained 3 units to 60. Rigs drilling in inland waters were unchanged from a week ago at 18. Oil rigs were up 8 units to 1,562 while gas rigs were up 3 units to 318. Rigs considered unclassified edged up a unit to 3 overall. Directional drilling rigs jumped 12 units to 229. Horizontal drilling rigs increased 5 units to 1,293. Canada topped the US with a 14-unit gain, bringing its total to 395. Oil rigs gained 12 units to 238 and gas rigs gained 2 units to 157. To read the rest of this article, visit OilGas Journal
The practice of fracking is highly contested for many reasons. Environmentally minded organizations are concerned about the impact that it might have. One fight against fracking in California is that it is putting strain on the already limited water supply. In his article for Mercury News, Chris Faulkner illustrates comparatively the small amounts of water used in the fracking process and how it truly isnt impacting the water supply. Fracking Defense: Fears of Depleting Water Supply Are Unfounded By:Chris Faulkner California is experiencing the worst drought in its history. So when state lawmakers recently killed a bill that would have banned the practice of hydraulic fracturing, known as fracking, environmentalists cried foul. These fractivists claim the controversial drilling technique is sucking up the states limited water supplies. That is nonsense. Fracking represents a tiny fraction of Californias water consumption. Theres no reason to single it out. Legislatures were right
The United Kingdom is creating tax incentives in order to entice on shore oil and gas exploration. Some speculations claim that there is an abundance of gas in the Bowland basin region: enough to supply the country for 500 years. However, there is a fair amount of resistance to the practice of fracking. There is concern that the practice could lead to water contamination as well as a host of other environmental issues. Robert Hutton and Nidaa Bakhsh explain the current situation in the UK. U.K. Opens Bidding for New Round of Shale Gas Exploration By:Robert Hutton and Nidaa Bakhsh The U.K. began the bidding process for the next set of onshore oil and gas exploration licenses, including shale that is considered a cheaper and more secure energy source. The Department of Energy and Climate Change set out the details, which include planning guidance for areas of outstanding natural beauty, national parks and world heritage sites. About half the U.K. will be open for bids. Shale gas
Many companies are struggling with the best ways to connect with a new generation of employees. These organizations are trying figure out how to create a culture that will attract the top level talent. David Wethe from Bloomberg Business describes how one company, Baker Hughs, has created multiple smart phone game apps in order to connect with their millennial employees while informing and educating them about important aspects of working for BHI. Candy Crush Style Oilfield App Helps Engineers Feel Hip By: David Wethe When Joel Tarver noticed workers at Baker Hughes relaxing during breaks playing the hugely popular smartphone game Candy Crush, he figured he could put their play to work. Tarver, senior manager for digital marketing at Baker Hughes Inc. (BHI:US), convinced his bosses to let him build an oilfield version of the game. That way workers could still enjoy their game break, yet also get a little on-the-job training. The games could also help spread the idea that
It seems that the oil industry and politics are continually hand-in-hand. In this article from the Wall Street Journal, Holman K. Jenkins, outlines how blue states play into the industry. Jenkins explains how oil, technology, and politics work together and how states are capitalizing on new jobs in the energy sector. How Virginia Became the Oil Patch By:Holman W. Jenkins, Jr. As long as Americans are burning oil and gas,a bluish state wants its share of the jobs and revenues. Casually putting energy resources off-limits for environmental reasons, the American habit since the 1960s, just doesnt play politically anymore now that voters can see what it costs in jobs and revenues. Call it one more consequence of the fracking revolution. This great reversal, and not some all of the above energy vision the White House likes to tout, explains the Obama administrations decision last week to let oil companies begin seismically prospecting on long-closed sections of the Atlantic seaboard.