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Shale Shifts Attention To This ‘Forgotten’ Oil Play

The Permian has been getting most of the headlines on U.S. shale, but there is another play in the vicinity that has been attracting more industry attention than media attention. Pretty much forgotten since the ‘90s, when shale oil and gas moved to the forefront of the U.S. oil industry, the Austin Chalk has now […]

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The Permian Basin in Texas and New Mexico will soon become the third-biggest oil producing region in the world: IHS Markit

Output from the Permian basin is poised to double between 2017 and 2023, according to IHS Markit. At 5.4 million barrels per day, Permian production would surpass output from all other producer nation’s except Saudi Arabia and Russia. IHS Markit believes the jump in output will require more than $300 billion in investment. New IHS […]

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American Shale-Oil Producers are on a Roll

In the light, sweet spot  Surprisingly, they have not yet roiled the oil markets JUST over a year ago Harold Hamm, billionaire boss of Continental Resources, one of the biggest shale-oil producers in America, issued a stern warning to his fellow frackers. Drill with restraint or we will “kill the market”, he said. This month […]

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Permian 3.0 Shows U.S.’s Biggest Oil Field May Have More to Give

  Call it Permian, version 3.0. That’s how Tim Dove, who leads Pioneer Natural Resources Co., refers to new well designs his company says are now pumping 35 percent more oil than their predecessors. And Pioneer’s not alone: Rivals are also boasting of huge improvements resulting from new-look technology, indicating that the biggest U.S. oilfield […]

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Carlsbad Facility Improvements with Cetane Energy

PLANO, TX – May 3, 2018 – Murex LLC (Murex) and Cetane Energy, LLC (Cetane) have agreed to a major capacity expansion which will more than double the existing throughput of the Cetane crude oil trans-loading facility in Carlsbad, New Mexico serving the Permian and Delaware Basins. Capital improvements, which will be completed Q3 2018 […]

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TRADEQUIP INTERNATIONAL CELEBRATES 40 YEARS IN PUBLICATION

  FOR IMMEDIATE RELEASE Tradequip International, a tri-monthly, buy-sell publication, is celebrating 40 years serving the oil and gas industry. Tradequip has been in print since 1978. Originally called International Tradequip, the paper barely contained more than ten pages. So, in 1983, it was purchased by The Cosby Harrison Company (formerly called TAP Publishing Company). […]

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$100 Oil is Back on the Table as OPEC Stays Strong on Tightening Production Limits

Oil prices will rise to $100 per barrel if Saudi Arabia gets its way. Only a week ago, news surfaced that Saudi officials were quietly hoping to push oil prices up to $80 per barrel, which would help boost the valuation of Saudi Aramco IPO. But why not $100 per barrel? Reuters reports that Riyadh […]

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Is This The Oil Opportunity Of The Year?

It’s one of the most unbelievable energy stories of the year. A Chinese oil company was sitting on what might be a major oil discovery – a 182-million-barrel probable reserve, with great potential to grow. They spent hundreds of millions of dollars and sunk 13 wells, shot or acquired 6,700 km of 2D seismic, and […]

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The Oil Eating Bacteria That Can Clean Up Crude Spills

It’s not a widely known fact that the 2010 oil spill caused by the explosion on BP’s Deepwater Horizon platform could have been even worse were it not for bacteria. Several species of marine bacteria that feed on ingredients in crude oil and natural gas bloomed during the spill, feasting on Louisiana light, sweet crude. […]

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Offshore Rig Builders Face New Reality

Total announced that it was deploying the first offshore robots at a North Sea platform to test them as maintenance tools. Earlier, Shell inked a contract with an engineering firm to find ways of extending the life of its Leman Alpha offshore platform. Borr Drilling said this month that its $232.5-million acquisition of sector player […]

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Bahrain Makes Its Biggest Oil Discovery In History

Bahrain announced the biggest crude oil discovery in its history that will “dwarf” its current reserves, media reported, citing the tiny kingdom’s official news agency. Details on the size of the reserves will be released later this week. Bahrain is the smallest oil producer in the Persian Gulf, drawing its oil from the Bahrain Field […]

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LAGCOE Education Fund to Participate in South Louisiana Giving Day

LAFAYETTE, La. – On May 10, the LAGCOE Education Fund will participate in South Louisiana Giving Day, a project of Community Foundation of Acadiana. South Louisiana Giving Day is a 24-hour, online fundraising event to inspire the community to come together to contribute as many charitable dollars as possible to support the work of local nonprofit organizations, […]

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