Known as the TEN oil fields, the offshore fields of Tweneboa, Enyenra, and Ntomme in Ghana will be sending hundreds of thousands of barrels of oil out of the country through Shell. Royal Dutch Shell will be the first business to purchase the oil produced in the TEN fields, a project that has cost approximately $5 … Continued
Shale gas production is currently driving the global natural gas production growth, according to the EIA. In the energy outlooks and forecasts for 2016, it’s expected that shale gas will continue to grow. The United States is currently the largest producer of shale gas, poised to become a major global force within the energy market … Continued
The oil and gas industry has both a direct and indirect impact on the domestic economy, with oil and gas prices directly affecting the health of the economy as a whole. Oil and gas is incredibly important not only to individuals and businesses within the United States, but also to the position of the United … Continued
EagleClaw, a Texas-based energy company, will be acquiring PennTex Permian LLC in order to continue its growth throughout the Delaware Basin. PennTex Permian LLC is currently a subsidiary of PennTex Midstream Partners LLC, and will become a part of EagleClaw’s long-term strategy to develop throughout the area. There are more than 75,000 acres of properties involved … Continued
The United States has been steadily producing more oil through the past decade. But what are the consequences of this increased oil production? Increased oil production is having many benefits not only for the United States but also for the world as a whole. Improved oil production is stabilizing the American economy, reducing reliance upon … Continued
The Organization of Petroleum Exporting Countries (OPEC) has reportedly increased its oil production to record numbers, producing a total of 32.82 million barrels per day through June of 2016. Despite this, the OPEC supply will not be able to exceed demand within these regions, which has been steadily increasing. OPEC’s Modern Oil Production Strategy In … Continued
Though there have been many theories about potential environmental downsides to fracking, very few have discussed the environmental benefits. Fracking has an extraordinary number of positives for the environment and local economies, and very few negatives (if any) have ever been scientifically proven. Natural Gas Replaces Coal Power One of the incredible advantages to fracking … Continued
Everyone can see that the Texas economy is changing. What used to be a primarily agricultural state has now steadily moved towards advanced technology and energy production. Many of the changes in Texas (even the resurgence of the IT industry) can be directly traced back to the development of Texas as an energy superpower. Texas … Continued
Historically, the oil rig count in the United States has always been used to gauge the current temperature of the oil market. When the US oil rig count goes up, confidence within the oil and gas industry is high; when it goes down, investors are generally pulling back. The US oil rig count is currently … Continued
Two additional oil finds have recently been made by Statoil off the shore of Newfoundland, during an exploratory project that had drilled a total of nine wells over the course of about a year and a half. The exploration was conducted around a 310 mile area around St. John’s. These new oil finds may be … Continued