Oil prices are up due to the decrease of inventories in the U. S. The dispute between the U.S. and China oil trade is the prime basis for predicting the direction of oil.
Swan Energy continued its excellent track record in the first half of 2018. Existing wells are producing, new wells are in the works, and exploration continues. Swan Resources Swan Resources has interest in 55 Oklahoma oil wells. These wells have together generated 1,750,953 (gross) BOE to date with a...
A Joint Venture (JV) is when two or more parties come together and participate in a specific project. In a JV, all parties are invested in the project in terms of money, time, and effort to build upon and accomplish a specific task. While Joint Ventures are generally small to medium size projects, major corporations also use this method in order to diversify.
A Joint Venture can ensure the success of smaller projects for those that are just starting in the business world and can also benefit established corporations. Since the cost of starting a new project is generally high, a Joint Venture allows all parties to share the burden of the project, as well as the resulting profits.
The successful production of domestic oil and gas means our country is safer, our economy is stronger, and we keep more Americans working.
As a result, the federal government offers very attractive oil and gas tax incentives for investments in domestic oil and gas development. There are three primary incentives:
In 2013, Colorado broke a 56-year old record for crude oil production. Data collected by the Colorado Oil and Gas Conservation Commission showed a record-breaking 64.9 million barrels were produced in Colorado in 2013. The previous record was set in 1956, when Colorado produced 61.9 million barrels.
Monthly production figures for 2014 appear to be running ahead of 2013’s figures. However, COGCC won’t have final, verified 2014 crude oil production figures for several months. Will 2014 be another record-breaking year for Colorado? Although it is still too early to tell, looking at the factors behind the production records set in 1956 and 2013 record may give clues as to what the future holds for Colorado crude oil production.
Some of the chemicals found in fracking fluid collected in five states — including Colorado — were no more toxic than common household substances, according to a newly released study by researchers at the University of Colorado.
The study, published Wednesday in the journal Analytical Chemistry, found that the “surfactant” chemicals in the fracking fluid samples also were found in everyday products such as toothpaste, detergent, ice cream and laxatives.
Michael Thurman, co-founder of CU’s Laboratory for Environmental Mass Spectrometry, said this is the first published paper to identify some of the organic fracking chemicals going down into wells.
Crude oil and lease condensate production in the United States exceeded 8.6 million barrels per day (bbl/d) in August, a production volume not observed since July 1986, according to EIA’s latest Petroleum Supply Monthly.
More than half of total U.S. production was accounted for by record production from three basins in three states. Production from the Permian Basin in Texas and New Mexico accounted for 1.66 million bbl/d, while the Eagle Ford Shale in the Western Gulf Basin, also located in Texas, produced 1.57 million bbl/d. The Bakken Shale in North Dakota’s Williston Basin accounted for 1.13 million bbl/d.