Drilling spending is down for 2015, there is no doubt about that. Exploratory drilling by the oil and gas industry has been reduced nearly 30% from the 2014 spending levels. The reasons are pegged to the falling oil prices. While we can debate over the source of those declining prices elsewhere, there seems to be … Continued
Any piece of equipment is going to wear out over time. This is true with the small ones and with the big ones. So, what do you do when your drilling rig is finally getting to the point that it needs replaced? Spending on a large capital investment like that takes some time and planning. Here are some things … Continued
Oil is only now starting to rebound in price after falling to recent record lows in the past few months. The upside has been lower gas prices than we have seen in a while. While that is great for consumers, is it really good for the economy as whole? Before we go out and start … Continued
A recent update of a study conducted last year for the National Association of Manufacturers (NAM) verifies what many people feared – proposed EPA ozone regulations could be the most expensive in U.S. history, hurting businesses, workers, and American families alike. Data compiled by National Economic Research Associates show that lowering already tight ozone standards could … Continued
The oil industry can’t seem to win. When the supply was down and heavily dependent on foreign imports, it was their fault for high prices. Now that the supply is increasing and prices are falling, it is somehow a bad thing because there is too much oil. Is that really the case? The Associated Press … Continued
It goes without saying that well control is essential. When monitoring drilling, there are many different indicators that can be used to determine if the well may kick. A kick is a situation where the pressure inside of the drilled rock ends up being greater than the pressure of the mud pressure acting on the … Continued
The oil industry has certainly experienced its share of ups and downs. Booming one month, tight the next, seems to be the order of business as of late. Speculation of $30 a barrel oil means more layoffs and leaner times. The real question is, “What do drillers do to survive as the profits disappear?” While … Continued
Hope and change. Yes we can. The American public was sold a bill of goods twice now that had positive buzzwords and slogans. We were told over the last six years that it wasn’t the Obama administration that was being obstructive, but those nasty Republicans in congress. Seems now that the public has spoken and … Continued
Remember a time before there was an internet? Back when we didn’t need to read the vitriol and hatred that a seemingly endless sea of people loves tossing at whatever topic of the day that they have decided to hate? Well, since we can’t roll back the clock to a time before the internet (and really … Continued
The recent decrease in oil prices has been great for consumers paying for gas at the pump, but it has devastated the oilfields in the Midwestern United States. Earlier this week, Challenger, Gray and Christmas, the oldest outplacement firm in the United States, reported their prediction for unemployment numbers to skyrocket to their highest numbers … Continued