Global Valve and Controls
27Dec/16Off

Abandoned oil wells cause a concern

        Driving from Bartlesville Oklahoma to Tulsa most of what I saw were oil wells on each side of the road, almost a mile apart sometimes more. Like Oklahoma, Texas is filled with oil wells as well, some parts of the state have more than others. The wells you see around town are not always active, there are quite a few wells actually that are abandoned.  These “inactive” oil wells that are abandoned are a huge concern for citizens nearby as, “fluids can gurgle and leak, migrating where they don’t belong. In some rare instances, land could even sink or collapse” The majority of these holes in the ground aka wells are spread out through West Texas, and have been there for over a century ago. Texas, Oklahoma and Louisiana are among three of the top states with the most abandoned oil wells.

                It is interesting because Texas specifically has over 300,000.00 wells that “are currently pumping oil, gas dollars into the economy, and this does not include some 1.5 million oil wells that were dug up but came up dry”.  After the wells come up dry, operators simply plug them up as not to cause any harm to the environment, but there are many holes that are dug up dry and simply abandoned due to not having enough funds to plug them up or the company has gone bankrupt which is a big deal. “The Railroad Commission will take action on any well to plug or repair it, when there is evidence that is has been an abandoned oil or gas well, the problem is that if the well has been transferred over by use by a private landowner than the RC no longer has permission to plug or repair it.” With no one wanting to take the responsibility or pitch their voices, this is the biggest concern. Abandoned wells can threaten groundwater which pollutes the aquifers for drinking water.

 

http://www.mrt.com/business/oil/article/Abandoned-Texas-oil-wells-seen-as-ticking-time-10813938.php

21Dec/16Off

The Midstream business today

The year 2014 was when the oil prices took a hit and continued to go downhill till earlier this year. Although, still not as high as where they once were, oil prices are slowly starting to rise and are predicted to be back where they were if not close by 2020. But what happened to everyone working in all the energy sectors; The upstream, midstream and downstream, did they too take a hit? We know that many companies had big layoffs such as ConocoPhillips, Chevron and many more not to mention bankruptcies, but where do they stand today?

In the upstream energy sector analysts have said that their activity has been stalled due to the falling oil prices and unfortunately layoffs were uncontrollable and downstream, has fared fairly well in regard to hiring, partly due to an inflated candidate pool of skilled professionals who have been laid off because of low oil prices.

What about the midstream energy sector? According to energy experts, the midstream sector had to lay off hundreds of employees too especially when oil prices were under $30 per barrel. “there’s been a little bit of negative effect, but not to the extent that you see in the E&P [exploration and production] and services space” Even though the midstream sector has been affected by the low prices, it has actually done quite well in comparison to the upstream and downstream sectors. In fact, many midstream companies are out looking for skilled workers.

Valves such as these Thru Conduit Gate Valves and Trunnion Ball Valves are used in pipelines around the world

 

 

 

 

 

 

 

http://www.rigzone.com/news/oil_gas/a/143734/Midstream_A_Silver_Lining_in_Oil_Gas_Downturn

19Dec/16Off

Can we live without Natural gas?

Can you imagine a world without natural gas? Natural gas is used in many things that we surround ourselves in, I can’t imagine living without it, can you? First, how is natural gas created and where is it found? According to scientists, natural gas is a product of decomposed organisms found under layers and layers of mud. “The US is the world’s number one producer of natural gas, but many Americans still don’t know much about his cleaner-burning fossil fuel.” Although the US creates most of it as a whole, specifically, Texas, Oklahoma and Pennsylvania are the top three producers of the gas. You can also thank Russia and Iran as they are just behind the US.  Every day you are burning natural gas. Electric cars, public transportation, electricity are all good examples of what we use natural gas for. “High tech advances such as seismic imaging and hydraulic fracturing have boosted U.S. production by 60%”

As you can see, living in a world without natural gas would be difficult. It is one of the cleaner burning fossil fuels and we use it in our everyday lives. From driving, cooking, and enjoying the benefits of electricity, it is all around us.

 

Pipeline Ball Valves( GVC)

http://paidpost.nytimes.com/chevron/what-do-you-really-know-about-natural-gas.html#utm_source=twitter&utm_campaign=chevron

12Dec/16Off

Mexico de nationalizes its O&G sector

Mexico has opened its doors to foreign companies that will bring in new business like never before. This however was not a “new” policy per say, but the idea to de-nationalize its entire energy sector came up in 2013 and then there was a “follow up” in 2014. Two years later, the country finally decided to go through with it. What does this mean for Mexico? Over the next four years, we will see accelerated growth for a country with massive oil and gas resources, excellent infrastructure, a transparent investment framework, and a new hunger for foreign partners. This also means that Pemex in Mexico will end its 75-year monopoly, and will allow for new businesses to grow.

A couple of the major O&G companies have already signed contracts with Mexico to start drilling. There are many areas in Mexico where bidding has been scheduled to begin. For Example; Exxon Mobil Corp. joined Chevron Corp. (NYSE: CVX) and Hess Corp. (NYSE:HES) to jointly bid for rights to drill in Mexico’s deep waters.

Although exciting, exploration of these areas will take as long as 10 years or more to start. Could this be a game changer for todays depressed oil and gas industry?

 

http://www.petroleumworld.com/editorial-op16112801.htm

2Dec/16Off

New shale discovery in Midland, Texas

A new shale has been discovered in Texas so big that the Texas Governor said the state has just become about a trillion dollars richer! The discovery named Wolfcamp is located in Midland west Texas in a field of shale rock. Although very large, the oil is classed as unconventional as it will require advanced drilling to extract it such as hydraulic fracturing.

The discovery, which was confirmed on Wednesday, "goes to show that, even in areas that have produced billions of barrels of oil, there is still the potential to find billions more," said Walter Guidroz, program director of the USGS Energy Resources Program.

The team calculated at least 20 billion barrels of oil can be made from the discovery. To give an idea of how much oil that is, the find is three times larger than what was discovered in North and South Dakota and Montana in 2013! Some analysts think the discovery could lead to a resurgence of the oil and gas industry in Texas.

 

http://m.dw.com/en/largest-us-oil-and-gas-discovery-made-usgs/a-36418422