Natural gas in Israel
Natural gas in Israel
Reports of more natural gas in Israel have spread across the nation. How much natural gas is still unknown but geologists report that it could be up to 2 million cubic feet of natural gas.
’A growing number of recent gas discoveries have made energy independence a possibility in the near future for Israel, according to the energy ministry. The discoveries have also pushed up the value of the shekel against the dollar as local companies no longer need as much foreign currency to purchase energy from abroad. “
http://www.rigzone.com/news/oil_gas/a/126525/Israel_Appears_to_Have_More_Natural_Gas
TransCanada Keystone XL
TransCanada Keystone XL
After numerous requests from the Obama administration, TransCanada once again pushes its service date back to late 2014 or even 2015. As you can recall the Keystone XL “will be pumping around 700,000 barrels a day of crude oil from Alberta to Nebraska, where it would link to other pipelines bound for U.S. Gulf Coast refineries.”
“TransCanada said its $5.3 billion cost estimate for the project will rise, depending on the approval timing. At the end of the first quarter, it had spent $1.8 billion on the project.”
Alaska will cut taxes for the oil companies
Alaska will cut taxes for the oil companies
Alaska has decided to reduce taxes for the oil production companies. Some of the companies that will benefit from the tax cut are ConocoPhillips, Exxon Mobil and BP.
“The legislation imposes a base tax rate of 35% on oil companies’ net profits in the state and makes some tax credits available. The new tax regime will replace a complex formula that started at 25% of net profits and escalated as oil prices rose.”
These new changes will create new investment opportunities as well as additional production from all the oil companies, as well as increase tourism.
http://www.rigzone.com/news/oil_gas/a/125814/Alaska_Lawmakers_Cut_Oil_Taxes
ConocoPhillips deepwater discovery in the Gulf of Mexico
ConocoPhillips deepwater discovery in the Gulf of Mexico
On March 19th, ConocoPhillips had announced that they have discovered oil at the Shenandoah well. Yesterday, they had discovered another well in the Gulf of Mexico. ( The Coronado well).
"The Coronado discovery adds to our exploration success in the prolific Lower Tertiary Trend," said Larry Archibald, senior vice president, Exploration. "The exciting results from the Coronado and Shenandoah discoveries confirm the value of our portfolio in the Gulf of Mexico and provide visibility on our future plans to grow through organic exploration."
ConocoPhillips is one of the largest leaseholders in the deepwater Gulf of Mexico with approximately two million net acres. In 2013, the company plans to drill between five and eight wells, including the Ardennes prospect, which spud earlier this quarter, and the Thorn well, scheduled to spud in the second quarter of 2013.
http://www.heraldonline.com/2013/03/25/4721357/conocophillips-announces-second.html#storylink=cpy
Denbury Resources buys ConocoPhillips fields for $1.05 Billion dollars
Denbury Resources buys ConocoPhillips fields for $1.05 Billion dollars
ConocoPhillips has agreed to sell to Denbury Resources Inc, its properties in the Cedar Creek Anticline of North Dakota and Montana for $1.05 billion dollars.
“The deal includes about 86,000 net acres with 2012 net production of 13,000 barrels of oil equivalent per day through November.” The area in the Bakken region is not included. Denbury has announced that this deal will increase their average daily production by 7,700 barrels of oil per day this year alone."
http://www.marketwatch.com/story/denbury-buying-conocophillips-fields-for-105-bln-2013-01-15
Sanchez Energy buys Eagle Ford Shale assets
Sanchez Energy buys Eagle Ford Shale assets
“Sanchez Energy will run a single rig on the liquids-rich spread while it assesses the full potential. It will focus on Eagle Ford development initially but noted that other operators are pursuing the Buda limestone and Pearsall shale that may provide Sanchez Energy with potential growth opportunities”
Sanchez Energy Corporation in Houston, Texas is buying the Eagle Ford shale in south Texas for $265 million dollars in cash! This deal will not only increase Sanchez energy producing well count but also will increase its acreage in the Eagle Ford shale as well
http://www.ogj.com/articles/2013/03/sanchez-energy-to-buy-hess-corp--eagle-ford-shale-assets.html
Is the Keystone XL Pipeline Worth Getting Arrested For?
Is the Keystone XL Pipeline Worth Getting Arrested For?
“Last week, four dozen opponents of the Keystone XL pipeline were trying to convince President Obama to reject federal approval for the line, which aims to carry crude oil from Canada and North Dakota’s Bakken shale crude to the U.S. Gulf Coast. But if opponents of the Keystone pipeline are going to stop the flow of crude, they are going to have to do more than just get arrested or hold a rally—they are going to have block nearly every north-south rail line in North America.”
The Keystone XL is designed to transport 830,000 barrels per day. There is currently nothing new in moving oil by rail cars. Currently, U.S. and Canadian oil producers are building rail car terminals so they can ship their product to the market. Other countries around the world are doing the same as well.
Gulf of Mexico Poised to Remain Strong in Coming Years
Gulf of Mexico Poised to Remain Strong in Coming Years
“The Gulf of Mexico (GOM), one of the major petroleum-producing areas of the world, is in the early stages of an extended growth cycle and is poised to remain one of the strongest offshore markets in the world in terms of deepwater activity. Overall, rig count and exploration and production (E&P) activities are at pre-Macondo levels and look tocontinue on an incline for the next couple of years.”
The Gulf of Mexico remains one of the most geologically attractive areas, It is also located in a stable region of the USA
http://www.rigzone.com/news/oil_gas/a/124243/Gulf_of_Mexico_Poised_to_Remain_Strong_in_Coming_Years
Recycling fracking water
Recycling fracking water
It was just a few years ago that fracking was introduced and the process is now being currently used. (Fracking refers to the procedure of creating fractures in rocks and rock formations by injecting fluid into cracks to force them further open. The larger fissures allow more oil and gas to flow out of the formation and into the wellbore, from where it can be extracted.)
No one ever thought twice about reusing the water until now.
“Disposal Solutions will pump well-site water from trucks, put it in retention ponds where it can be cleansed of chemicals, dirt and rocks, and send it back out to drilling operations.”
This idea is still new but companies such as Apache Corp., and Devon Energy are trying to head off any potential shortage of water to be used for fracking. Recently, a study estimated that fracking use up roughly 13 million gallons of water. With this being said, there is a need to recycle all this water being used, especially where there are places that are suffering because of droughts and they have no water.
http://www.tulsaworld.com/business/article.aspx?subjectid=49&articleid=20130112_46_E1_CUTLIN766717
2 Pipelines companies are ready for the New Year to begin
2 Pipelines companies are ready for the New Year to begin
Enbridge and Enterprise have just announced that the expansion work on the Seaway is complete, bringing its Cushing takeaway capacity up from 150,000 to 400,000 per day. This pipeline carries crude oil from Cushing, Oklahoma to the Gulf coast. These two companies are among the biggest players in the midstream company.
“Like Enbridge, Enterprise operates pipelines -- more than 50,000 miles of them -- but it has plenty of other assets that generate cash. Its business mix includes natural gas pipelines and processing centers, natural gas liquid (NGL) pipelines and fractionating facilities, storage facilities, and terminals”
“Production in North America is still growing and pegged to continue doing so for at least the next few years, which means volumes across the systems of companies such as Enbridge and Enterprise will continue to grow as well. Expect these stocks to grow this year.”
http://http://www.fool.com/investing/general/2013/01/12/2-pipeline-stocks-poised-for-profits-in.aspx
