The long-awaited rebound that the oil and gas industry has been banking on may already be here. Per barrel prices have been steadily rising since their sub-$40 decline, and have reached $51 per barrel as of June 2016. The quickly rising prices may indicate that a solid rebound is on the way, which will be … Continued
The EPA is once again outlining rules and regulations regarding methane emissions in the oil and gas industry, with the hopes of reducing greenhouse gases. However, these rules and regulations may only serve the purpose of harming the oil and gas industry, without having a significant environmental impact. New Rules for Oil and Gas Wells … Continued
An industry record has been set according to Continental Resources, Inc, regarding its new STACK (Sooner Trend Anadarok Canadian and Kingfisher) well. During tests, the new Verona 1-23-14XH was able to produce 3,339 barrels of oil equivalent a day, in addition to 6.0 million cubic feet of natural gas. The highly pressured STACK area is … Continued
The oil and gas industry continues to explore new options for more effective recovery, the newest of which are jet pump deployments within the Arctic. The Arctic represents some major challenges for those within the oil and gas industry, due to the temperature extremes involved as well as the remote nature of the environment. Not … Continued
Despite some controversy, the Colorado Supreme Court has outlawed county-level bans on fracking. A similar decision was made in Texas earlier this year. Some cities and counties have been trying to outlaw fracking within their neighborhoods, owing in large part due to misinformation regarding the damage that fracking is thought to cause to the environment and … Continued
The Texas oil industry is ramping up production despite falling oil prices, in large part due to a newly refined technique called “horizontal play.” Though the oil and gas industry has been suffering on a national level (and many oil and gas companies have had to scale back their operations), other smaller unconventional drillers are … Continued
A new shale oil pipeline has been approved in Ohio, which is designed to supply the Canton refinery. Marathon Pipe Line LLC is going to be developing the pipeline, which will move from Cadiz in Harrison County up to Canton in Stark County. This pipeline will be designed to move light oil mixtures, which are condensed … Continued
Those within the oil industry have been eagerly awaiting a turnaround in per barrel prices for some time. In recent years, prices have plummeted from over $100 a barrel to less than $40, which has tightened the purse strings for many invested within domestic oil. But analysts have consistently believed that 2016 would be the … Continued
Technological innovation and advancement has led to a leaner, more productive oil and gas industry in the United States. The American oil industry is achieving greater profitability by reducing the costs of drilling. Not only is oil drilling less expensive than it has ever been, but the price continues to decrease. These costs are being … Continued
Fracking now accounts for over half of the oil output of the United States, according to recent reports by the Energy Information Administration (EIA). Since 2000, fracking has gone from a mere 2% of domestic oil production to over 50%, owing to the rich shale deposits available throughout America. It’s expected that fracking will continue to … Continued