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Posting ID: 3681983729Posted: 2013-03-14, 7:27PM PDTEdited: 2013-03-14, 7:27PM PDTemail to a friendSorry, I could not read the content fromt this page.
Sunday, September 1, 2013
Crude prices rise, but Egypt turmoil may not have much effect
Opponents of Islamist President Mohammed Morsi wave Egyptian national flags during a protest outside the presidential palace, in Cairo, Egypt, Monday, July 1, 2013. (AP Photo/Khalil Hamra)Unrest in Egypt is adding to anxiety in the oil markets, but is not likely to have much effect on oil prices already elevated because of turmoil in the Middle East, analysts said Monday.
Egypt’s Suez Canal is one of seven key world oil choke points, according to the U.S. Energy Information Administration. About 4 percent of world oil moved through that choke point daily in 2011, according to the agency’s data.
Concern about the Egyptian uprisings of 2011 pushed oil prices at that point to a two-year high.
But there is enough oil in the market today that any potential disruption of that transit route would not be significant, said Bhushan Bahree, head of Middle East research for IHS CERA.
“There’s enough supply going around, but it does raise the usual concern,” Bahree said. “It isn’t anything new, but it’s just the level of it goes up and down depending on developments.”
Benchmark U.S. crude rose $1.43 to close at $97.99 a barrel Monday on the New York Mercantile Exchange.
Some analysts speculated that in addition to concerns about the Middle East, the higher price may reflect expectations that weekly oil supply data due Wednesday will show a sizable drop, according to the Associated Press.
Markets: Saudi Arabia remains key to oil prices, despite U.S. production surge
Bahree said in an interview with FuelFix that continuing concern over developments in the Middle East, including sanctions on Iran, revolutions in Tunisia, Libya and Egypt, and a war in Syria, has added a premium to oil prices .
“A lot of that is already built in and when you get more disturbing news about protests and uncertainty, people get more anxious,” he said.
Bill Herbert, managing director of research for investment banking firm Simmons & Company International, said he does not expect a significant impact on oil prices since Egypt itself is not a major producer.
“If you look at Brent oil prices it really hasn’t done a whole lot,” Herbert told FuelFix.
Brent crude, the international benchmark, gained 84 cents to $103 a barrel Monday on the London ICE Futures exchange.
By contrast, oil prices surged in 2011, during a period of widespread upheaval in the Middle East, Herbert said. Brent crude prices jumped in 2011 from around $94 at the start of the year to a high of more than $123, largely because of unrest in Libya, a major oil exporter.
“It’s something that we keep our eyes on,” Herbert said. “We’ll see what happens.”
Millions of Egyptians have taken to the streets throughout the country calling for political changes. The development inspired an ultimatum from the military on Monday, which reportedly promised to intervene if Egyptian President Mohamed Morsi does not meet protesters demands.
Emergency Dispatcher/Customer Service/Swing Shift/3-11:30pm/$12-$14/hr (Encino, CA)
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Noble Corp.’s proposed London move may cut its tax bill in half
Noble Corp. Bully I and Globetrotter I drillships work on a Shell project in the Gulf of Mexico. (Noble Corp.)By David Wethe
Bloomberg News
Noble Corp., the offshore oil rig contractor that moved its headquarters to Switzerland in 2009, may cut its tax bill in half if shareholders approve the board’s plan to move to London.
Shareholders will vote at a special meeting in the fourth quarter to change Noble’s incorporation to the U.K. from Zug, Switzerland, the company said in a statement today. A “well- established tax regime” and business-travel environment in the U.K. would help Noble keep up with competitors, Chief Executive Officer David Williams said.
“You’ve got a pretty good tax advantage by moving to the U.K.,” John Keller, an analyst at Stephens Inc. in Houston, said in a phone interview today. The change may add 10 cents a share to Noble’s annual earnings, Keller said. “It’s not insignificant.”
Ensco Plc and Rowan Cos., two other offshore rig companies, have changed their incorporation to the U.K. in recent years. Both are expected to report a tax rate of about 10 percent, said Keller, who rates Noble at the equivalent of a hold and owns none. Noble and Vernier, Switzerland-based Transocean Ltd. are projected to pay a rate of at least 18 percent this year, he said.
John Breed, a spokesman for Noble, declined to comment on the tax benefits of the move. Noble plans to file a proxy with the U.S. Securities & Exchange Commission in the “coming days” with more details, he said in a phone interview.
Noble rose 1.5 percent to $38.15 at 12:21 p.m. in New York. The shares have gained 9.6 percent this year.
Body Man/Helper (Hollywood)
Ari
818-430-5932. Posting ID: 3682032543
Natural gas production remains stable despite low price
A rig drills for natural gas in the Sonora Field in the Permian Basin. (AP Photo)Conventional wisdom around town has quoted $5 as the natural gas price needed to increase production.
But April’s numbers may be proving this wrong. Production appears to be creeping up slightly, even though the Henry Hub price has dropped from about $4.50 per million British thermal units in mid-April.
Domestic natural gas production was slightly more than 2.09 billion cubic feet in April, a little lower than the previous month’s 2.15 billion cubic feet, but higher than the 2.065 billion cubic feet produced in April 2012, according to a report released Friday by the U.S. Energy Information Administration
“We assume when the prices get to $4.50 the rig count will respond and we will see some modest growth in gas production,” said David Purcell, an analyst with Tudor, Pickering & Holt. “Two things happen at $4.50-gas that are bad for $5 gas. One, the rig count will go up, and at $4.50 gas, some coal fired power generation becomes economic. It feels like there is a pretty firm lid of gas production at the $4.50 level.”
Rig counts have declined in shale plays and many producers have shifted their strategy to emphasize liquids-rich plays, but even so, natural gas production has remained stable.
“It doesn’t take a lot of activity to keep production flat,” Purcell said. “There is a lot of associated gas being produced from liquids drilling,” noting that increased production in the Marcellus and Utica shales in the Northeastern United States has helped boost natural gas production.
Tudor, Pickering & Holt called the April flat production levels “disappointing.” And it still predicts that production will drop a full percentage point by the end of the year from its 2012 level in response to natural gas prices that are lower than what many analysts believe is necessary to support further production growth.
However, the stubbornly consistent production levels fly in the face of those who have said that production will significantly drop in response to the less-than-five-dollar prices.
“This data trend is certainly silencing the “big decline” crowd,” Tudor, Pickering & Holt wrote.
Skilled Classic Car Fabricator/Welder (Burbank, CA)
Posting ID: 3681950763Posted: 2013-03-14, 7:03PM PDTEdited: 2013-03-14, 7:03PM PDTemail to a friendSorry, I could not read the content fromt this page.
Rig Designer - Patterson-UTI Energy Inc. - Houston, TX
Position Summary
The Rig Designer is responsible for performing, and/or overseeing, computer aided drafting (CAD) of structural components, piping diagrams, location plans, and related rig components for the Company’s land based drilling rig fleet.
Detailed Description
Essential Job Functions
To qualify for the Rig Designer position, an individual must be willing and able to perform the following activities:
Demonstrate clear communication skills (verbal and written) including ability to give and follow work directions concerning structural engineering issues. Perform field measurements, create sketches and gather documentation at drilling rig locations, rig construction yards, supplier facilities and other worksite locations. Physical ability to safely navigate field worksite locations, including occasionally climb steep stairs and walk on steel grating and decking structures, which may be slippery. Occasional travel by air or car to drilling rig locations, rig construction yards, supplier facilities and other worksite locations. Comply with all Company and customer safety regulations including properly wearing all designated personal protective equipment (PPE) at required times. Key Relevant Task
Utilize computer aided drafting (CAD) software. Maintain CAD software and drawing files pertaining to drilling rig structures. Support internal operations with CAD drawings for structural repairs to mast, substructures, and related drilling rig components and new designs. Ability to perform basic math calculations.
Job Requirements
Minimum Qualifications
High School Graduate or equivalent Five years computer aided drafting (CAD) experience with drilling rig related components Experience with AutoCAD 2D and Microsoft Excel Eligible to drive company vehicle including ability to meet requirements of Company's Vehicle Use Agreement and Driving Policy Preferred Qualifications
Experience with Inventor or SolidWorks 3D Software Associates Degree in Computer Graphics, Drafting and Design, or similar Engineering based degree Certification: None
Additional Details
Work Environment
Work hours are typically 8:00 a.m. - 5:00 p.m. five days per week. Extended work hours can include evening, weekends, travel time and occasional holidays as necessary.
This position is typically located in an office setting but may require exposure to outdoor weather conditions on field assignments that will expose a person to cold/heat, dust, and high wind.
This person must work with an emphasis on safety for themselves and others including coworkers and third party.
Must be able to work closely with others, communicate effectively, and perform under time-sensitive deadlines including successful management of multiple projects.
Supervisory Responsibilities: None
How To Apply
To apply, click the "apply now" button at the lower right hand corner of the screen and follow the directions.
Amount of Travel
Work At Home
■□■□ Car Broker ■□■□ (LA)
Posting ID: 3682081502Posted: 2013-03-14, 8:41PM PDTEdited: 2013-03-14, 8:41PM PDTemail to a friendSorry, I could not read the content fromt this page.
Drumbeat: July 1, 2013
Analysis – Big lenders wary of following oil money to North Dakota
Many banks remain wary of the past repeating itself. North Dakota saw a surge of oil activity in the 1950s and 1980s, only to have the flare-ups burn out, leaving many residents, municipalities and banks in debt after funding large projects. Williston alone had millions in debt from the 1980s oil boom as recently as 2005.
“What we don’t want to do is go into a community like Williston and engage in speculative lending and not have an exit strategy,” said Dan Murphy, Wells Fargo’s regional president for ...
Read more from The Oil Drum
Room for Rent in Salon (North Hollywood)
Posting ID: 3681900779Posted: 2013-03-14, 6:30PM PDTEdited: 2013-03-14, 6:30PM PDTemail to a friendSorry, I could not read the content fromt this page.
Floorhand, Drilling, California: July 2013 - Ensign Energy Services Inc. - Bakersfield, CA
Summary
The Floorhand is a crew member supporting and assisting other members of the drilling crew during rig operations, with guidance and instruction.
Specific Responsibilities
Assists Driller, Derrickhand and Motorhand in day-to-day rig operations
May work on the rig floor during trips, connections and surveys
Carries out housekeeping tasks around the rig such as: washing and painting, digging and cleaning ditches, shoveling shale, handling and measuring tubular goods
Reports and, under supervision, corrects any unsafe work practices and safety hazards
Assists and performs tasks as instructed by more senior crew members in such duties as: rig servicing, mixing mud
Works as a team member with the rest of the rig crew
Qualifications
Qualifications
This employee must:
be at least 18 years of age
pass a post-offer physical examination, fitness testing, safety aptitude test, drug tests & background check
possess proper legal authorization to work in the U.S.
Ensign United States Drilling Inc. is an Equal Employment Opportunity and Affirmative Action employer.
Job
Drilling
Primary Location
United States-California-Bakersfield
Organization
Ensign USD (CA) Drilling
Schedule
Full-time
Job Posting
Jul 1, 2013, 11:45:00 AM
Unposting Date
Jul 31, 2013, 11:45:00 AM
Recruiter
Heidi Moore
Dental Assistant (Brentwood)
Posting ID: 3681991257Posted: 2013-03-14, 7:32PM PDTEdited: 2013-03-14, 7:35PM PDTemail to a friendSorry, I could not read the content fromt this page.
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