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Saudi Arabia War against U.S. Shale

Saudi Arabia has ramped up the war on U.S. shale production with the March exports reaching their highest level in 12 years. Production is also at record level, 10.29 million barrels per day in March.  Saudi Arabia exported the equivalent ...

Shale Boom Over

Morgan Stanley analysts met in Houston recently with representatives of the oil and gas industry. They conclude that the oil boom is over because it has become more efficient.  Operators and service companies are in agreement on "the need to ...

Offshore Seismic Survey Starts in Mexico

Petroleum Geo-Services ASA (PGS) announced that the 1st Multi-Client 2 D seismic program for offshore Mexico began on May 16, 2015. Vessels, the Atlantic Explorer and Sanco Spirit will acquire seismic in multiple projects recently approved by the Mexican government. ...

Oil Crash Cycle

Market analysts at Wells Fargo look at how the price of oil has impacted the stock market since 1980. Crude oil plunged 54% in 2014 and the 1st quarter 2015. Since 1980 there have been four other instances when the ...

T. Boone Pickens Advice to Young People

In an interview on May 12, Pickens discussed his advice for young people entering the oil and gas industry. Pickens quoted his father's advice to him in 1949, “‘you better get a plan.’ He said ‘a fool with a plan ...

No $100 per Barrel Oil for a Decade

In an OPEC report in early May, that the Wall Street Journal had access to, OPEC says that the price of oil is unlikely to reach $100 per barrel in the next 10 years. "The report predicts that oil prices ...

Intelligent Subsea Clamping Solution

Red Marine in conjunction with FMC Technologies has developed a modular umbilical clamp system designed for deep water intervention in the Gulf of Mexico. The built for purpose system uses six mechanical elements for deep water well intervention including FMC's ...

Oil Price Up

Tuesday morning the North Sea Brent on the London Market jumped over $1 from Monday's closing to $67.65 per barrel. U.S. crude oil jumped $1.39 to a high of $60.32 per barrel. The rise is attributed to the stoppage of ...

OPEC Loses Control of Oil Price

Oil industry analysts say that OPEC has lost control of the price of oil.  In a CNBC interview on Tuesday, May 5th, Saudi Arabian oil minister Ali Al-Naimi said, "No one can set the price of oil — it's up ...

Oil Hit $67 Monday Morning

In early trading in London on Monday, May 4, the price of oil hit $67 per barrel and then declined to $66, according to Reuters.  The price is linked to "current supplies and weak Chinese factory activity countered expectations of ...