Oil And Gas | Acquisitions | Divestitures | Exploration And Production | Oilfield Services | Oil Projects | Oil Investments | Eagle Ford Shale | Bakken Shale | Permian Basin | Woodbine Formation
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Posted on Thursday, February 21, 2013 11:46 AM
The United States imported about 40 percent of its oil in 2012. So
where are we getting it from? It depends a lot on where you live. Over
at Business Insider, Rob Wile digs up this fascinating map from RBC Capital Markets:
For refineries on the East Coast, the majority of their imported oil
comes from Africa, mainly Nigeria and Angola. By contrast, refineries in
the Midwest get virtually all of their imported oil via pipeline from
Canada.
Also note that relatively little of America’s imported crude comes
from the Middle East, with the bulk of that (about 1. |
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Posted on Wednesday, January 30, 2013 12:28 PM
UNDER AGREEMENT
JOINT VENTURE/ASSET SALE
- Project includes over 2,500 acres.
- 14 BOPD on 15 producing wells.
- The four
major leases have
produced approximately 800,000 barrels of oil.
- It is
estimated that optimally located new wells are likely to produce around 40,000 BO and
drain a maximum of 20 acres.
- This acquisition has enough acreage for 2 Eagleford
horizontals.
- Overall
the 3rd San Miguel reservoir has a gross thickness of 40 to 50 feet operators
typically perforate a 30 to 40 foot interval with initial production rates of
75 to over 100 barrels of oil per day
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Texas, Financed, San Miguel, Texas Drilling, Texas Oil, Eagleford Shale, Texas Investment, Texas Producing, Texas Sale, Sale, Texas Joint Venture
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Posted on Saturday, January 26, 2013 4:15 PM
ACQUISITION COMPLETED
ASSET SALE/DIVESTITURE
- Project located in Ector & Winkler Counties, Texas.
- 1,240 Acres available.
- 17 Wells.
- Current production is 65 BOPD, 600 MCFD.
- Around $120,000 / Mo. Avg. Net Income.
- Yates, Grayburg, San Andres, Clearfork & Wichita-Albany Production.
- 60%-100% WI, 48%-80% NRI.
- Drilling, Recompletion and Workover Potential
Please Reference PL-1339
For more information on this project please contact us at:
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Texas, Financed, Drilling, Oil, Gas, Texas Drilling, Texas Oil, Reworks, Texas Reworks, Texas Recompletions, Texas Gas, Texas Producing, Texas Sale, Sale, Producing, Recompletions
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Posted on Wednesday, January 16, 2013 11:46 AM
California is sitting on a massive amount of shale oil and could
become the next oil boom state. But only if the industry can get the
stuff out of the ground without upsetting the state's powerful
environmental lobby.
Running from Los Angeles to San Francisco,
California's Monterey Shale is thought to contain more oil than North Dakota's Bakken and Texas's Eagle Ford -- both scenes of an oil boom that's created thousands of jobs and boosted U.S. oil production to the highest rate in over a decade. |
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Petro Lucrum: Posted on Monday, December 24, 2012 1:44 AM
Houston,
Texas - December 24, 2012 - Petro
Lucrum is pleased to announce that it has appointed Stephen Edson as VP of
Finance. This signifies the launch of Petro Lucrum’s
oil & gas finance division to focus on a strong USA oil & gas program.
Mr. Edson
focuses on going public transactions as well as public / private equity and
debt investment into Petro Lucrum ventures and funds. Mr. Edson provides finance expertise at Petro Lucrum to
support portfolio ventures through offering project and corporate finance
advisory to private and public companies in upstream E&P and OFS. |
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Posted on Sunday, December 23, 2012 1:06 AM
This month's issue of Oil & Gas Financial Journal focuses on private capital and the availability of funding for upstream and midstream projects. The consensus among our expert contributors appears to be that 2013 will continue to be an attractive time to sell or recapitalize middle market companies by accessing private equity.
In our interview with Premier Natural Resources' Chris Jacobsen this month, he notes that his company's partnership with investment giant Kohlberg Kravis Roberts has created a portfolio of properties that produces about 250 million cubic feet equivalent of gross natural gas production per day, and this continues to grow. |
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Petro Lucrum News: Posted on Tuesday, December 18, 2012 12:30 AM
Houston, Texas - December 19, 2012- Richard Vetter in his capacity with Petro Lucrum serves
as E & P Legal Officer. Mr. Vetter focuses on acquisition and divestitures
as well as equity and debt investment into Petro Lucrum ventures and funds. His
diverse experience over 40 years brings a track record and expertise to support
Petro Lucrum ventures.
Prior to joining Petro Lucrum, Mr. Vetter was an attorney
and business executive that has held senior management position with Cashco
Energy Corporation; a leveraged buyout investment firm Merchant
Capital Group and Board Member of three portfolio companies with combined sales
exceeding $50 million. |
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Posted on Thursday, December 13, 2012 1:18 PM
Two years ago, no one had ever heard of the potential of the Cline Shale oil play.
Now, the 140-mile-long and 70-mile-wide oil shale is anticipated to be one of the largest oil plays in American history.
Projections for the Cline Shale contribute to the expectation for the U.S. to become the world leader in oil production by 2017.
As the result of exploration by oil companies Devon Energy and
Chesapeake Energy, the Cline Shale is quickly emerging as the richest
oil play known. Other development companies with interests include
Firewheel Energy, Laredo Petroleum, Exco, and Callon Petroleum, among
others. |
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Posted on Tuesday, December 11, 2012 1:45 AM
JOINT VENTURE/ASSET SALE
- Project located in Laurel County, Kentucky
- 2,000 ‘HBP’ Acres
- Production from 3 recompleted
wells.
- 14 Wells total with over $280,000
in equipment.
- Currently producing 20 BOPD and
160 mcfd.
- Primary producing formations are
Knox carbonate and dolomitic limestone.
- Post
Recompletion potential 65 bopd at 5 bopd well.
- Depth
of wells range from 1400 to 3700 feet.
- 100% WI 80% - 87% NRI.
25 PUD well sites available.
Please Refer toPL-1358
For more information on this project please contact us at:
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Kentucky, Joint Venture, Drilling, Oil, Gas, Kentucky Drilling, Kentucky Gas, Kentucky Oil, Kentucky Sale, Sale, Kentucky Joint Venture, Kentucky Recompletions, Recompletions
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Posted on Monday, December 10, 2012 2:02 PM
Crude oil futures started the week on a positive note on improved
sentiment following recent U.S. and Chinese positive economic
data, which offered bullish cues from the world's top two oil
consumers.
On the New York Mercantile Exchange, light, sweet crude futures
for delivery in January traded at $86.21 a barrel at 0802 GMT, up
$0.28 in the Globex electronic session. January Brent crude on
London's ICE Futures exchange rose $0.33 to $107.35 a barrel.
On Friday, data from the Labor Department showed the U. |
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Posted on Saturday, December 08, 2012 9:22 PM
JOINT VENTURE/ASSET SALE
- Project located in Garvin County, Oklahoma.
- 320 Acres HBP.
- 13 Producing Wells.
- Currently producing 895 BOPD.
- Basil Oil Creek sands
Seismic Developed in 2008
- Average NRI is .75%.
- SWD well drilled, waits on battery.
- Ability to produce 4.94MM bbl oil,
5.73bcf gas, est reserves.
- 30 year life expectancy.
Please
Refer toPL-1368
For more information on this project please contact us at:
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Posted on Monday, December 03, 2012 10:15 PM
Oil rose above $112 per barrel on Monday on signs that economic growth
is picking up in China, the world's second-biggest oil consumer, and on
positive data from the U.S. manufacturing sector.
The latest
readings from official and private sector surveys of China's vast
manufacturing sector showed activity picked up November, adding to
evidence the economy is reviving after seven quarters of slowing growth.
"Crude oil prices are beginning
the new week of trading up thanks to positive economic data from China,"
said Carsten Fritsch of Commerzbank. |
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Posted on Thursday, November 29, 2012 5:07 PM
JOINT VENTURE
- Project located in Wilson and Woodson Counties, Kansas.
- Assets include 11,000 Acres.
- 69 horizontal wells planned to be drilled (4 per 640 acres).
- Net recoverable oil is 13,800,000.
- Key formation is Mississippi Lime.
- Vertical depth of 2,500.
- Post complete return of capital per well between 12 and 16 mths - depending on decline rt.
- Expected ROI of over 1000%.
Please Reference PL-1365
For more information on this project please contact us at:
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Posted on Thursday, November 29, 2012 4:11 PM
JOINT VENTURE
- Project located in Harper County, Kansas.
- 3,845 gross/net acres, 2,600 acres held by production
- 1,245 undeveloped acres (expirations analysis available).
- 13 Producing wells.
- Currently producing 70 BOEPD.
- Multiple
well infill potential, horizontal or vertical.
- Wells producing from MSSP and Simpson.
- $56,840,000 total investment
- 9.5 Sq. Mi. 3-D
- 1 Salt Water Disposal well with 4500 BPD capacity.
- 100% interest in 3,845 Gross acres @ $1,248/ac, delivered 77% NRI.
Please Reference PL-1354
For more information on this project please contact us at: |
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Posted on Thursday, November 29, 2012 4:10 PM
JOINT VENTURE
- The project is located in Wilson County, Texas.
- Wells located on 1080 acres.
- There are 2 producing wells on the property.
- Currently producing 225 BOPD.
- Production and potential production in the Buda and Austin chalk formations.
- Total of 50%-75% WI / 37%-56% NRI
One of the wells needs to be fraced which should bring the production from 30 BOPD up to 100 BOPD. Total of 13 vertical wells
can be drilled to each horizon, 7 will offset existing Buda production. Possibility of laterals on the wells. |
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Posted on Thursday, November 29, 2012 4:08 PM
JOINT VENTURE
- Project located in DeWitt County, Texas.
- Total of 91 acres.
- 1 well on the project.
- Estimated Production of 3 MMCFD and 100 BCPD.
- Key formation is the edwards lime formation.
- Well Depth is approximately 14,000'.
- Total of 100% WI / 75% NRI.
Please Reference PL-1352
For more information on this project please contact us at:
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This
is not an offer to buy or sell securities. |
Texas, Joint Venture, Oil, Gas, Texas Oil, Reworks, Texas Reworks, Texas Recompletions, Texas Gas, Texas Joint Venture, Recompletions
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Posted on Thursday, November 29, 2012 4:06 PM
JOINT VENTURE/ASSET SALE
- Assets located in Tuscaloosa County, Alabama.
- Project encompasses 44,000 acres.
- Currently 508 wells Producing.
- Field produces 16.8 MMCFD.
- Net Operating Cash Flow:
$560,000/Mo. (12 months to date June 2012).
- PDP Reserves of 74.5 BCF
with a PV(10) of $90.3MM.
- Production
potential in excess of 200 MMBO and 1 TCFG.
- Average WI 100%,
Average NRI 75%.
Please Reference PL-1350
For more information on this project please contact us at:
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Posted on Thursday, November 29, 2012 3:59 PM
ASSET SALE / DIVESTITURE
- 2 wells currently producing.
- 2 more drill sites based on acreage and spacing.
- All equipment in good condition.
- Set up for gas metering and gas contract in place.
- Current operators can continue with project.
Please Reference PL-1283
For more information on this project please contact us at:
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This
is not an offer to buy or sell securities. Oil investment carries very
high risks. |
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Posted on Thursday, November 29, 2012 3:59 PM
ACQUISITION COMPLETED
ASSET SALE / DIVESTITURE
- 2 active gas wells with 30 more shut in.
- Plans on over 70 new wells.
- Cost of each well under $1 Million.
- Core analysis indicates gas-in-place to be 8 Bcf/square mile.
- Revenues and assets in gas processing plant and pipeline.
Please Reference PL - 1272
For more information on this project please contact us at:
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This
is not an offer to buy or sell securities. |
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Posted on Thursday, November 29, 2012 3:58 PM
JOINT VENTURE
- Similar Wells produced 1 to 3 million barrels.
- Niobrara formation produces throughout the Rocky Mountains.
- Well depth 5,700' with 4,000' horizontal completion.
- Potential pay zones in the Steele and Mowry Shales.
- Possibility of several wells.
Due to an absence of “external” reservoir
energy (e.g., gas cap or water drive), the primary drive mechanisms are
solution-gas drive and gravity drainage. As a result, field
development practices critical for economic success include wide well spacing
and reservoir pressure maintenance via produced gas re-injection. |
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Posted on Thursday, November 29, 2012 3:55 PM
ASSET SALE / DIVESTITURE
- Producing intervals: Clearfork, Upper and Lower Spraberry, Upper and Lower Wolfcamp, Cisco “Cline”, Canyon, Strawn, Atoka, Upper Mississippian, and Lower Mississippian.
- Nine other stratigraphic intervals identified to-date also have drilling shows and produce in wells.
- Four WTG Exploration wells have seen oil fluorescence from another sandstone layer in the Upper Spraberry.
- Seven of the ten wells drilled in Dawson County have encountered oil fluorescence from a particular sandstone layer in the Lower Spraberry.
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Posted on Thursday, November 29, 2012 3:53 PM
ASSET SALE/ DIVESTITURE
- Over $20,000 Revenue per month
- Est. 11% OOIP Produced (P+S) to Date
- Remedial Stimulation Opportunities, Drilling/Infill Potential,
- Re-Establish Waterflood with Infrastructure Largely Still Intact
Formed in 1990, the unit
has operated under "depletion mode" since the mid-1990s with next to
no stimulation being conducted, nor make-up water applied. Injection pressure is held to 1,400 psi using
an injection header bypass, but underutilizing the allowed permit pressure of
2,000 psi. |
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Posted on Thursday, November 29, 2012 3:52 PM
JOINT VENTURE
- Secondary targets of the Serratt Sand, Jennings Sand, Fry Sands, and the Ellenberger.
- Shallow wells at less than 5,000 feet helps mitigate drilling risk.
- Manageable properties with low operating expenses.
- Short term payout estimated at less than 12 months.
- Extensive due diligence of leases including comprehensive georadiometric imaging and survey.
The prospect wells are located in the
eastern edge of the Permian Basin where oil exploration began in 1927.
From 1951 to 1962, 254 new fields resulted in a total of 4,629,765
barrels of oil produced in the county. |
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Posted on Thursday, November 29, 2012 3:47 PM
ASSET SALE / DIVESTITURE
- Over 11,000 Acres.
- Multiple targets for production.
- Local production is high.
- Favorable area for significant hydrocarbon
exploitation.
- Adjacent to several 100 million barrel oil
field.
The project consists of over 11,000 acres as
situated on one oil and gas lease that is underdeveloped by oil and gas
drilling. The acreage consists of two contiguous blocks that is readily
accessible via highway and well maintained ranch roads. A high quality 3-D seismic
data set acquired across the subject acreage is available when purchasing this
lease. |
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Posted on Thursday, November 29, 2012 3:44 PM
ACQUISITION COMPLETED
ASSET SALE / DIVESTITURE
- Each well has several potential zones to enter.
- Up to 10 Eagle Ford laterals possible on the project.
- Each lateral could estimated to have up too 400,000 BO.
- Equipment and sites worth over $200,000.
- Lots of possibility to increase production.
The largest potential for these three units is found in the Eagle Ford shale. Old log data suggest that this shale is at least 80-100 feet thick and it demonstrates high resistivity over approximately half of the interval. |
Texas, Financed, Working Interest, Oil, Texas Drilling, Texas Oil, Texas Reworks, Texas Producing, Texas Sale, Sale, Texas Working Interest
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Posted on Thursday, November 29, 2012 3:41 PM
ASSET SALE / DIVESTITURE
- More
than $120,000/Mo. in revenue.
- Infill
Drilling of 20-acre spacing and Waterflood Potential.
- Stimulation
method of choice on the leases has been Hydrochloric acid.
- Multiple
ways of increasing production on the project.
Offered
for sale are 10 leases located in Cochran County, Texas. The leases are
all within a few miles of each other arranged into three clusters.
Although the leases are not under a waterflood effort, they offset sizeable
floods. |
Texas, Texas Drilling, Texas Oil, San Andres, Waterflooding, Texas Investment, Texas Reworks, Texas Producing, Texas Sale, Sale, Producing
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Posted on Thursday, November 29, 2012 3:35 PM
UNDER AGREEMENT
ASSET SALE/DIVESTITURE
- Project located in Howard and Midland Counties, Texas.
- 860 Acres.
- 5 Producing Wells.
- Currently Producing 140 BOPD, 869 MCFD.
- $101,840 Avg. Net Income Per Month.
- Wolfberry Plus Strawn, Atoka & Mississippian Production.
- Possibility to
drill an additional 7 wells on 80-acre spacing
- 100% WI, 75% NRI.
Please Reference PL-1324
For more information on this project please contact us at:
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Texas, Financed, Drilling, Oil, Gas, Texas Drilling, Texas Oil, Texas Gas, Texas Producing, Texas Sale, Sale, Producing
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Posted on Thursday, November 29, 2012 3:23 PM
ASSET SALE / DIVESTITURE
- 7 currently
producing wells with 6 more planned to bring online.
- 1
Salt Water Disposal Well.
- Plans
on adding more Salt Water Disposal Wells to increase Production.
- Well
depth around 1,000'
Please
reference PL-1246
For more information on this project please contact us at:
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is not an offer to buy or sell securities. |
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Posted on Tuesday, November 27, 2012 9:53 AM
It's our nature to sort, divide, and classify. We label ourselves to
identify political leanings, religious beliefs, the food we enjoy, and
the sports teams we cheer. The oil industry too has its own distinct
labels which include the "Peak Oil" theorists, those who believe the
world is fast depleting the finite supply of fossil fuel; and the
pragmatists, those who recognize that engineering and technological
advances in oil drilling and extraction continuously identify new
reserves that make oil plentiful. |
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Posted on Monday, November 26, 2012 10:22 AM
ACQUISITION COMPLETED
ASSET SALE/DIVESTITURE
- 33 wells altogether with 7 wells producing.
- About $35,000 in revenue a month.
- Rework costs about $30,000 per well.
- Well depth around 2,500'.
- 2 salt water disposal wells.
Please Reference PL-1273
For more information on this project please contact us at:
To get exclusive emails on new acquisitions or joint ventures sign up for ouremail newsletter.
This
is not an offer to buy or sell securities. Oil investment carries very
high risks. |
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Posted on Monday, November 26, 2012 10:07 AM
ACQUISITION COMPLETED
ASSET SALE/DIVESTITURE
- Gregg & Rusk Counties, Texas.
- 6,000 acres.
- 115 BOPD Monthly (TX RRC site).
- 37 Leases, 75 PRPD.
- Lower Woodbine formation accessible & current trend
extending lease life.
- Battery Tanks for Leases, 2 FT Pumpers
- Oil Quality: 32 – 37 Gravity
- Economics: Shallow Asset Declination Rate promotes expanding
production,
- Leases & Operator Assignable for benefit of
Grandfathered P&A Requirements
Please Reference PL-1360
For more information on this project please contact us at: |
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Posted on Wednesday, November 21, 2012 3:33 PM
ASSET SALE/DIVESTITURE
- Project located in Caddo Parrish, LA.
- 1100 Acres
- 34 BOPD
- 8
Producing Wells.
- 2 SWD, 8 Potential ‘Plotted’ Locations, Tank Battery(s).
- Producing from the Haynesville
Formation.
- Economics:
8 PDP 43 Yr Life; 3 PNP, 29 Yr Life; 3 PRNP, 13 PRUD, 30 YR Life
- NET
Reserves: 45.50 Mbbl Oil-P-DP; 122 Mbbl
Oil-PR-UD
Please Reference PL-1363
For more information on this project please contact us at:
To get exclusive emails on new acquisitions or joint ventures sign up for our |
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Posted on Wednesday, November 21, 2012 9:43 AM
ASSET SALE/DIVESTITURE
- Gregg and Rusk Counties, Texas.
- 2,600
acres.
- Avg 30 BOPD monthly, TX RRC reports.
- Woodbine Formation.
- 3,000’
well depth.
- 100% WI/75%
NRI.
Please Reference PL-1361
For more information on this project please contact us at:
To get exclusive emails on new acquisitions or joint ventures sign up for ouremail newsletter.
This
is not an offer to buy or sell securities. Oil investment carries very
high risks. Please read our full disclaimer before making any decisions. |
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Posted on Tuesday, November 20, 2012 3:32 PM
Executive Summary
Acquisition & Development holdings company seeks capital
to support the acquisition and development of multiple asset packages in the
Permian Basin. The management team has a
background of developing similar projects and now seeks to leverage experience
and capital. The development potential
coupled with significant baseline production and reserves make this an
attractive package.
Project Located in Martin
County, Texas.
- Assets include 3,076 acres.
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Posted on Friday, November 16, 2012 12:45 PM
Executive Summary
- Project
located in Harper County, Kansas.
- 100% WI / 77% NRI in 3,845 Gross Acres, with possibility for expansion.
- 13
Producing wells.
- Multiple
well infill potential, horizontal or vertical.
- Wells
producing from MSSP and Simpson.
- 9.5
Sq. Mi. 3-D
Financial Summary
Current Oil Production = 70 BOEPD 1 Salt Water Disposal well with 4500 BPD capacity
100% Gross Well Cost = $3 MM/well
$3 MM/well for 20 Wells = $60 MM
20 potential horizontal Miss Wells =
9.12 MMBOE
9.12 MMBOE @ $80/BO = $729,600,000
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Posted on Friday, November 16, 2012 11:42 AM
Update: New wells were drilled and brought online increasing production from 700 BOPD/e to 1000 BOPD/e.
Executive Summary
- Sterling County, Texas
- 19,000 Acres +
- 700 BOPD/e +
- Wells Produce over 2 MMCF per day.
- Up to 60 to more locations for new wells.
- Typical well produces around 125,000 BO.
- Well Depths around 8,200'.
- Oil around 40 gravity
- 75% NRI with 60% to 100% WI available.
The project is a large, nearly contiguous set
of leases covering approximately 30sections located in northwestern Sterling
County, Texas. |
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Posted on Friday, November 16, 2012 9:08 AM
Oil rose on concern that the clash
between Israel and Hamas will escalate into a wider conflict
that would endanger Middle East crude shipments.
Futures advanced as much as 1.5 percent as Israel extended
its bombing of Gaza and militant groups fired rockets at the
Jewish state. Egyptian Prime Minister Hisham Qandil visited Gaza
today and called for an international effort to end the
violence. Israel’s army said it has deployed tanks near the Gaza
border and called up reservists.
“Going into the weekend, it’s difficult for traders to
ignore the growing tensions in the region,” said Phil Flynn,
senior market analyst at the Price Futures Group in Chicago. |
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Posted on Friday, November 16, 2012 8:47 AM
Executive Summary
- 204,000+ net acres
across 6 Indiana counties.
- 26 producing New
Albany Shale wells with 20 Bcf 1P reserves.
- Significant
undeveloped shallow conventional oil potential.
- Total 3P reserves:
347Bcf.
- Deeper shale
potential.
- Extensive pipeline
& plant facilities.
Current Financial Summary Current
Gas Production = 3,000 mcfg/d average sales in 2011. Cashflow positive at
$1.90/mcfg Acquisitions & Development
The business is primarily interested in developing oil reserves
and has a targeted budget of $10,000,000 for the seismic exploration and drilling program. |
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Posted on Thursday, November 15, 2012 6:19 PM
Executive
Summary
Central Texas headquartered oil &
gas production / drilling services business targeting opportunities for acquisitions.
The Company is focused on serving large oil and gas companies
drilling services in Texas while drilling its own wells through joint venture or on
leases acquired.
The business has positioned itself for
aggressive future growth with no existing debt, current and available contracts
secured, excellent equipment options, and access to experienced rigging,
transport and operational crews. |
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Posted on Thursday, November 15, 2012 6:10 PM
Executive Summary
This established Utah
Oilfield Services Business is seeking to accelerate its growth through acquisition
and expansion while serving the local oilfield community. They have been in business for 3
years, active in oil field services, ranching and oil surface leases. They
are looking to leverage their strong balance sheet and experienced management
team to capitalize on the growth of the economy in the mountain west area.
Financial Summary
Total Assets =
$7,780,000. |
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Posted on Tuesday, November 13, 2012 9:03 AM
Can Oil Supplies Grow Fast Enough to Keep Prices in Check?
I, along with my editor Sam Avro, recently conducted a broad-ranging interview with John Hofmeister, former President of Shell Oil and currently the head of Citizens for Affordable Energy,
a non-profit group whose aim is to promote sound U.S. energy security
solutions for the nation. In the first part of this interview Mr.
Hofmeister spoke of A Difficult Decade Ahead For Oil Prices and Supplies. In the second, he set forth an Energy Plan for America. |
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Posted on Monday, November 12, 2012 9:02 AM
The International Energy Agency expects the United States to become
the world's largest oil producer by around 2020, temporarily overtaking
Saudi Arabia, thanks to increased output from new exploration
technologies.
The U.S. Energy Department said much the same in a report last month.
The World Energy Outlook 2012
released Monday by the Paris-based IEA also predicts that greater oil
and natural gas production and rising energy efficiency will allow the
U.S., which currently imports around 20% of its energy needs, to become
nearly self-sufficient by around 2035. |
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Posted on Saturday, November 10, 2012 7:43 PM
Oil advanced on Friday on strong U.S. consumer sentiment and upbeat
readings on the Chinese economy, while gasoline futures surged more than
3 percent on speculation over delivery problems and tight supplies in
storm-hit New York harbor.
The harbor, delivery point for the
NYMEX gasoline contract, was still in flux 11 days after Superstorm
Sandy struck the U.S. Northeast. Many local terminal operations remained
constrained, refineries were shut and the retail supply chain was still
squeezed. |
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Posted on Thursday, November 08, 2012 4:12 PM
Oil futures rose on Thursday, recovering
some ground after the previous session’s sell off as traders received
encouraging U.S. economic data and positive news from Greece.
Oil for December deliveryCLZ2
+0.66%finished up 65 cents, or 0.8%, to settle at $85.09 a barrel on the New York Mercantile Exchange.
The contract had climbed as high as $85.70 after data showed that U.S.
weekly jobless claims fell by 8,000, while the September trade deficit
narrowed after exports rose more quickly than imports. |
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Posted on Wednesday, November 07, 2012 2:33 PM
A new study estimates the economic impact of the
Eagle Ford Shale on Gonzales and DeWitt counties was more than $3.3
billion in 2011 — and within 10 years that number will skyrocket to more
than $14 billion.
The Center for Community and Business Research at The
University of Texas at San Antonio Institute for Economic Development
(UTSA) performed an economic study of 14 counties in the Eagle Ford
Shale area that portrays a detailed image of the challenges and
opportunities emerging from drilling and production activities in South
Texas. |
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Posted on Tuesday, November 06, 2012 10:30 AM
The price of oil rose slightly Tuesday, to above $86 a barrel, as investors awaited the results of the U.S. presidential election.
By early afternoon in Europe, benchmark oil for December delivery was up 47 cents to $86.12 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose 79 cents to finish at $85.65 a barrel on the Nymex on Monday.
Brent crude, which is used to price international varieties of oil, was up 63 cents to $108.36 on the ICE Futures exchange in London. |
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Posted on Monday, November 05, 2012 10:29 PM
Gasoline prices are at all-time highs. As a result, energy policy
concerns echo in boardrooms and family rooms across the U.S. At a recent
House Energy Committee hearing on “The American Energy Initiative,”
Harold Hamm, the top energy adviser of Republican presidential candidate
Mitt Romney, warned that President Obama’s proposed repeal of the
energy tax provisions for oil and natural gas producers (including a
manufacturing tax deduction that all U.S. manufacturers receive) would
decrease drilling activity by 40 percent. |
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Posted on Tuesday, October 23, 2012 8:55 AM
UNDER DUEDILIGENCE
JOINT VENTURE
- Property located in Pondera County, Montana.
- Project has 1,480 acres.
- 17 Drill sites identified.
- Unproven potential reserves 2.4 MM Barrels Light Sweet Crude
- Expected oil recovery at 200 to 500 bpd per well.
- Project in the Madson formation with favorable oil showings being detected from three zones.
- Total NRI of 70%.
The nearby oil field located just 4 miles SE of New Miami has produced in excess of 30 MMBO from approximately 360 Sun River Dolomite wells (Madison) with an average depth of 1950’. |
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Posted on Tuesday, October 23, 2012 8:33 AM
ACQUISITIONCOMPLETED
ASSET SALE/DIVESTITURE
- Assets located in Harrison County, Texas.
- Included are 667 acres with up to 1,067 available.
- 36 existing wells(55 on full acreage).
- 15 producing wells.
- Currently producing 38 BOPD
- Monthly cash flows are $65,000.
- Key formations are Fredricksburg and Goodland Lime.
- 3 (5 on full acreage) salt water disposal wells.
- Potential to increase production through drilling and reworks.
- Total 75% - 78% NRI.
Please Reference PL-1342
For more information on this project please contact us at: |
Texas, Financed, Drilling, Oil, Texas Drilling, Texas Oil, Reworks, Texas Reworks, Texas Producing, Texas Sale, Sale, Producing
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Posted on Monday, October 22, 2012 7:28 PM
WORKING INTEREST
- The Edwards formation has produced oil in volumes greater than 120,000 from one wellbore within the immediate offset lease portion.
- The Glen Rose formation has produced oil in volumes greater than 600,000 within the area and 200,000+
from one wellbore within the immediate offset lease portion.
- Two-stage fracturing costs are included in the price of the Units.
- The field produces oil and gas from several horizons: the Woodbine (Dexter Sands),the Buda Formation, the Edwards/Goodland Formation, and the Glen Rose Formation.
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