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U.S. Rig Count Below 1000

Baker Hughes' weekly rig count showed the eighteenth consecutive decline. The first week of April 42 more oil rigs were idled. Only 988 rigs were active as of April 10, 2015. This is the lowest rig count since December 2010. ...

Oil Price Impact on Canada

The Canadian economy is severely impacted by the decline in oil prices.  Oil and gas is a huge part of the Canadian economy and the low price of oil had caused cancellation of two major projects in addition to causing ...

Rig Decline in North Dakota

North Dakota's rig count has been steadily declining since late 2014. By early April 2015 the rig count in the Bakken play has fallen below 100, the lowest count since April 2010. A recent report by the U.S. Energy Information ...

Dispersant More Harmful than Oil

A study conducted by Temple University and Pennsylvania State University on the Deepwater Horizon oil spill, has discovered that the chemical dispersants used to clean the oil are more toxic to cold-water corals in the Gulf of Mexico than the ...

Water Quality and Gas Shale Fracturing

The Ground Water Protection Council announces the release of Texas A&M GPRI and the Environmentally Friendly Drilling Systems (EFD) Program report, Water Quality Required for Fracturing Gas Shales: Cost Effective Analytic and Treatment Technology published in January 2015. The report ...

OPEC Has Outlived Usefulness

In a video interview for Oil & Gas 360, John Hofmeister, former CEO of Shell Oil Company, comments that OPEC has outlived its usefulness. The interview discussed the impact that Saudi Arabia has on world oil prices. The interview appears ...

Oil Transport by Rail Increases

In a report released by the Energy Information Administration (EIA) shipping of oil by railroad has increased 50 fold in 5 years. In January 2010 630,000 barrels of oil were shipped, by January 2015 the figure has risen to 33.7 ...

New Technology to Increase Efficiency

Among the latest technologies to increase efficiency to offset low oil prices is rocket fuel. Royal Dutch Shell, Whitting Petroleum Corp. and other operating companies are using "rocket fuel, Big Data, lasers, spectrometers and other new or revamped technologies to ...

Rig Count Continues to Fall

The weekly rig count report by Baker Hughes noted the sixteenth decline in a row for the end of March.  The rig count fell to the lowest number since March 2011. 1048 rigs were engaged in oil and gas exploration ...

Cuba Oil and Gas Strategic Outlook

A report released on March 30th focuses on the potential for growth in the petroleum industry in Cuba by 2025. The report addressed the feasibility of developing the petroleum industry related to investment potential and political and government decisions based ...