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America’s bright energy future

Stock-600-Save-By Rick Manning

Domestic energy production on private or state lands has surged over the past seven years, and this is great news for America. Per barrel oil production has increased 400 percent to an estimated 400 barrels per day in the past six years in what are known as the big three oil fields: Bakken (North Dakota), Permian Basin and Eagle Ford (Texas).

The International Energy Agency (IEA) projects that next year, the United States will surpass Saudi Arabia and Russia to become the world’s largest oil producer, and by 2035, the U.S. is projected to have finally achieved the long-promised goal of energy self-sufficiency.

Of course, President Obama has been crowing about this as one of his administration’s achievements, which like many of his claims, is far from the truth, as energy production on federal lands has actually declined during his tenure in office.

But this story is not about the federal government’s shortcomings in this quest, or even about the environmentalist regulatory attempts to stymie energy development. No, it is about what happens when profit drives very smart people to figure out new ways to accomplish seemingly impossible tasks, and what it means to you and me when they succeed.

Read more:
http://thehill.com/blogs/pundits-blog/energy-environment/213523-americas-bright-energy-future#ixzz38xjT545M

 

 
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TOWNSHIP OF ALLEGHENY PUBLIC NOTICE- Bid

Description: TOWNSHIP OF ALLEGHENY PUBLIC NOTICE The Township of Allegheny will receive sealed and separate bids from interested individuals, partnerships, entities or corporations for the purpose of entering into an oil and gas lease for certain properties owned by the Township of Allegheny and located within the Township of Allegheny. There is available from the Township of Allegheny a complete informational packet indicating the properties that are proposed for leasing purposes. A copy of the same may be obtained from the Township Manager, Greg Primm, at the office of the Allegheny Township Municipal Building, located at 136 Community Building Rd. Leechburg, Pennsylvania, Monday through Friday, between the hours of 9 a.m. and 5 p.m. The bidder shall provide to the Township a proposed oil and gas lease, which shall set forth the term, the royalties to be paid and the delay rental to be paid to the Township of Allegheny for said gas lease. The successful bidder shall also include in its’ bid a document reflecting the proposed lease offer and a certified check or bid bond in the amount of $5,000. Bids will be received by the Township of Allegheny until 12:00 p.m. on August 11, 2014. Said bids will be opened at 12:01 on August 11, 2014 and will be reviewed for approval and award by the Township Supervisors at their regularly scheduled voting meeting on the 11th day of August 2014 at 7 o’clock P.M. The Township of Allegheny reserves the right to reject any and all bids. Gregory A. Primm, Township Manager Allegheny Township Supervisors 136 Community Building Rd. Leechburg, PA 1565 (5896945, 7/31, 8/4/14)
This ad appeared in a printed publication by:
Date Added: July 31, 2014
Expiration: 7 Day(s)

 

 
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Why US oil may join dollar, gold as a safe haven

Money21-300x171Javier E. David

The U.S.—and the global economy—may have a new safe haven asset: the growing American oil bounty.

The sociopolitical upheaval in places like Iraq, Libya and Venezuela has kept oil prices propped up at more than $100 per barrel, underscoring the unstable nature of many oil-producing nations. By contrast, U.S. oil supplies—close to generating 9 million barrels of oil per day—are expanding, and far more secure than most of those abroad. Simultaneously, the U.S. shale boom has become a draw for international capital.

To be sure, gold, the dollar and U.S. Treasurys remain the premier safety assets during times of global distress. Meanwhile, oil market dynamics are overwhelmingly driven by supply and demand that place a “fear premium” on internationally priced Brent crude, and which drag on prices when turbulence abates.

Still, crude is a long-term asset that attracts both investors and speculators. Meanwhile, America’s shale production has put the country on the same terrain as Saudi Arabia and Russia as an energy power. In the process, it’s turned a number of assumptions about oil and gas supply on their ear. Many economists have pointed out that fossil fuels are not as pricey as they could be in the face of a world in turmoil.

In recent research, Barclays noted that the “advent of U.S. (shale) oil has made the oil market much less vulnerable to supply shocks than in the past.” With OPEC production constrained and non-OPEC supply on the rise, “the market is not as reliant on OPEC to fill supply gaps,” the bank said, helping to contain oil’s upside. All of that could eventually give U.S. oil a stability premium, some say.

Read more: http://www.cnbc.com/id/101865114

 
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Utica shale ‘sweet spot’ still to be found, report says

ohio1-300x171Tom Knox

Not much is certain in Ohio’s Utica shale play.

Some companies, like Magnum Hunter Resources Corp. (NYSE:MHR) and American Energy Partners, are doubling down on drilling. Others, like BP Plc (NYSE:BP) and EQT Corp. (NYSE:EQT), have suspended operations because of poor performance.

There’s a big gulf in success in the Utica that will continue until oil and gas explorers zero in on a “sweet spot” and adequate infrastructure is built, law firm Benesch Friedlander Coplan & Aronoff LLP says in its second-quarter report on Ohio’s shale industry.

It looks like Ohio’s shale sweet spot – the most productive and lucrative part of the shale – is centered further south than originally thought, in the Belmont and Monroe County area, according to first-quarter production numbers.

But that assertion is still not ironclad. And pipelines and other infrastructure remain hamstrung, so drillers aren’t able to transport what they are pulling up as quickly as they’d like.

Read more:

http://www.bizjournals.com/columbus/blog/ohio-energy-inc/2014/07/utica-shale-sweet-spot-still-to-be-found-report.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+bizj_columbus+(Business+First+of+Columbus)

 
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Oil field pipe mill south of San Antonio to hire 200

pipe work (2)By Jennifer Hiller

SAN ANTONIO — Alamo Tube Co. plans to build a $62.5 million pipe mill and finishing facility south of San Antonio to serve the Eagle Ford Shale and Permian Basin oil and gas fields.

The privately held Houston company says will employ more than 200 workers.

The mill will be built at Alamo Junction Rail Park, a new 400-acre development in Elmendorf. Alamo Junction is served by both the Union Pacific and Burlington Northern Santa Fe railroads.

Abbey Fives Bronx will supply the high-speed pipe rolling mill with U.S.-produced tube. Alamo Tube said its mill will produce 250,000 tons of oil field tubing yearly. It announced the project Tuesday night.

Alamo Junction Rail Park is located off Old Corpus Christi Road in Elmendorf. Part of the Eagle Ford-fueled rail boom, it’s geared for warehousing operations, manufacturing and oil field services such as crude oil storage and shipment, or the storage and shipment of sand used in hydraulic fracturing operations.

Read more:

http://www.mysanantonio.com/business/eagle-ford-energy/article/Oil-field-pipe-mill-south-of-San-Antonio-to-hire-5641081.php

 
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