Recycling Natural Resources into Knowledge

Iraq Stock Market Report BP Proposes Cuts to Rumaila Target Iraq Takes Delivery of C-130J Super Hercules Iran to Boost Exports to Iraq to $12bn Categorized

View the Original article

Ohio's crude oil and natural gas producers are against tax increase proposal

26 Mar 2012

Ohio's crude oil and natural gas producers, represented by the Ohio Oil and Gas Association (OOGA), are taking a stand against the proposed by the administration of the Kasich as part of its review of the Biennium Budget Mid-severance-tax increase.

View full version

View the Original article

Houston-based Ursa Resources acquires natural gas and pipeline assets for $325 million

by Stibbs & Co., P.C. on November 12, 2012

The purchase of new assets is often a key strategy in the efforts of Houston oil and gas exploration firms looking to increase their market share. The Houston Business Journal reported that Ursa Resources, a local firm, has reached an agreement to buy assets from Colorado-based Antero Resources for $325 million.

The assets include natural gas and pipeline resources. Further explanation of this particular acquisition will be revealed this week in Colorado at a county commissioners' meeting. Don Simpson, a landman from Ursa Resources, will discuss the effects of this sale, which includes more aggressive drilling processes than the former company utilized.

"We do plan to develop probably more aggressively than Antero," Simpson told the Glenwood Springs Post Independent. "We can drill at today's gas prices."

The Piceance Basin region includes many opportunities for drilling throughout western Colorado, eastern Utah and southern Wyoming, but activity has decreased in recent years due to the decline in natural gas prices. Along with this acquisition, Ursa Resources will also be building an office in Denver, said Simpson in a statement.

More local companies could make additional investments in oil and gas assets if drilling conditions improve, and business lawyers can offer the legal support needed to leverage new opportunities into beneficial contractual agreements. Research performed by Baker Hughes Inc reported a rise in the domestic oil and gas rig count, reversing recent declines. The total number of rigs increased by six to 1,806 during the week that ended on November 9, up from 1,800 the week before. 

The majority of firms were exploring for oil while the rest were geared toward gas exploration. Texas, North Dakota and Alaska made the highest gains in rig count while New Mexico and Arkansas lost some units.

View the Original article

Iraq to Produce 5m cu. meters of Natural Gas in 5 Years

By John Lee.

Iraq’s Oil Ministry has unveiled its five-year plan for the development of the country’s natural gas riches.

Azzaman reports that the plan calls for production of five million cubic meters of gas by the end of the five-year period, with new exploratory blocks up for grabs.

An oil ministry spokesman said that despite the increase, expected production would still fall short of meeting domestic demand.

Iraq currently imports natural gas from Iran and the countries are building a gas pipeline expected to be operational next year.

(Source: Azzaman)

.report

View the Original article

Friends of Fracking and Natural Gas

Perhaps as important as the president of the United States acknowledging the importance of natural gas and hydraulic fracturing to America’s energy present (and future) is a sense that such support is pretty far and wide. Here’s a quick roundup of some notable friends of natural gas – affordable, abundant and creating jobs all across the country – with a nod to Energy In Depth’s Steve Everley for help in corralling the links.

U.S. Sen. Sherrod Brown, D-Ohio:

“Shale development means economic development, and that’s exciting news for Ohio. It means tens of thousands of good-paying jobs across our state, all while helping to lower power costs for Ohio consumers. … We know that Ohio is home to countless innovative companies and a world-class workforce—now we need to ensure that energy companies arriving in the state are utilizing all that Ohio has to offer.”

Deputy Energy Secretary Daniel Poneman:

“The natural gas boom in the United States offers a tremendous opportunity to strengthen American energy security by drastically reducing our dependence on imported oil, while at the same time creating new U.S. jobs and industries. This is precisely why President Barack Obama is committed to safely and responsibly harnessing American oil and gas resources, and to developing the technologies that will unlock new domestic energy sources.”

U.S. Rep. Mike Ross, D-Ark.:

“I’m a firm believer in natural gas. It already supplies almost one-fourth of all energy in the U.S. and we’re discovering more natural gas reserves every day thanks to newer, safer drilling techniques and technologies. Better yet, more than 98 percent of natural gas comes from right here in North America. … With the Fayetteville Shale in the northern part of (Arkansas) and the Haynesville Shale in the southern part, we have an abundant supply of clean, affordable energy to offer the world.”

Natural gas and fracking have support from strong environmentalists including …

U.S. Sen. Ron Wyden, D-Ore.:

“This is what I tell environmental folks: Natural gas is really important to a lot of renewables, solar and wind, ensuring that option is out there. … Natural gas is the cleanest of the fossil fuels, so you start with that as your basic proposition.”

U.S. Rep. Edward Markey, D-Mass.:

“I think environmentalists should want natural gas on the table as an option. When coal is also going to be considered for new electrical generation or an extension of the life of an existing coal-fired power plant, I think it would be wise for us to not take natural gas off the table.”

Gov. John Hickenlooper, D-Colo.:

“Like any industrial process, fracking has some risks but, really, if done properly, certainly out in the West, there is literally no risk — certainly much less than many industrial processes. … I love open space and wilderness, but we all drive cars, right? And we all need energy. We recognize that, along with education, energy is the other necessary component to lifting people out of poverty.”

That last point is so important. Energy development is the difference between modern and primitive civilization – facilitating greater freedom, mobility and opportunity for better, healthier lives.

Candidly, the choice offered by some opponents of natural gas and hydraulic fracturing isn’t between more responsible development and less; it’s between responsible development and NO development. It’s an extreme choice. As energy blogger Steve Maley posted a few weeks ago, “If you’re not a fan of natural gas you’re a fan of mud huts.”

The right choice is to safely and responsibly develop a resource that can play a major role in securing America’s energy future.

View the original article here

Friends of Fracking and Natural Gas

Perhaps as important as the president of the United States acknowledging the importance of natural gas and hydraulic fracturing to America’s energy present (and future) is a sense that such support is pretty far and wide. Here’s a quick roundup of some notable friends of natural gas – affordable, abundant and creating jobs all across the country – with a nod to Energy In Depth’s Steve Everley for help in corralling the links.

U.S. Sen. Sherrod Brown, D-Ohio:

“Shale development means economic development, and that’s exciting news for Ohio. It means tens of thousands of good-paying jobs across our state, all while helping to lower power costs for Ohio consumers. … We know that Ohio is home to countless innovative companies and a world-class workforce—now we need to ensure that energy companies arriving in the state are utilizing all that Ohio has to offer.”

Deputy Energy Secretary Daniel Poneman:

“The natural gas boom in the United States offers a tremendous opportunity to strengthen American energy security by drastically reducing our dependence on imported oil, while at the same time creating new U.S. jobs and industries. This is precisely why President Barack Obama is committed to safely and responsibly harnessing American oil and gas resources, and to developing the technologies that will unlock new domestic energy sources.”

U.S. Rep. Mike Ross, D-Ark.:

“I’m a firm believer in natural gas. It already supplies almost one-fourth of all energy in the U.S. and we’re discovering more natural gas reserves every day thanks to newer, safer drilling techniques and technologies. Better yet, more than 98 percent of natural gas comes from right here in North America. … With the Fayetteville Shale in the northern part of (Arkansas) and the Haynesville Shale in the southern part, we have an abundant supply of clean, affordable energy to offer the world.”

Natural gas and fracking have support from strong environmentalists including …

U.S. Sen. Ron Wyden, D-Ore.:

“This is what I tell environmental folks: Natural gas is really important to a lot of renewables, solar and wind, ensuring that option is out there. … Natural gas is the cleanest of the fossil fuels, so you start with that as your basic proposition.”

U.S. Rep. Edward Markey, D-Mass.:

“I think environmentalists should want natural gas on the table as an option. When coal is also going to be considered for new electrical generation or an extension of the life of an existing coal-fired power plant, I think it would be wise for us to not take natural gas off the table.”

Gov. John Hickenlooper, D-Colo.:

“Like any industrial process, fracking has some risks but, really, if done properly, certainly out in the West, there is literally no risk — certainly much less than many industrial processes. … I love open space and wilderness, but we all drive cars, right? And we all need energy. We recognize that, along with education, energy is the other necessary component to lifting people out of poverty.”

That last point is so important. Energy development is the difference between modern and primitive civilization – facilitating greater freedom, mobility and opportunity for better, healthier lives.

Candidly, the choice offered by some opponents of natural gas and hydraulic fracturing isn’t between more responsible development and less; it’s between responsible development and NO development. It’s an extreme choice. As energy blogger Steve Maley posted a few weeks ago, “If you’re not a fan of natural gas you’re a fan of mud huts.”

The right choice is to safely and responsibly develop a resource that can play a major role in securing America’s energy future.

View the original article here

The Offshore Oil and Natural Gas Lease Sale We Need

Tomorrow’s scheduled Central Gulf of Mexico oil and natural gas lease sale in New Orleans will be the first in that area since March 2010. Setting aside for a moment the two-year gap in exploration and development caused by two years without new sales, tomorrow’s auction is important to America’s economic and energy security.

Unfortunately, the two-year gap is real and has real impact. Because it takes seven to 10 years for an offshore lease to start producing oil or natural gas, there’s a gap in the development timeline. It’s like a vintner who skips two years growing grapes; at some point in the wine-producing process there’ll be a lean vintage year. Here’s a chart that shows the stages and time requirements of offshore development:

A couple of other points about tomorrow’s lease sale, underscored by API’s Upstream and Industry Operations Director Erik Milito during a conference call with reporters: While it’s good the Bureau of Ocean Energy Management is holding the sale – which will generate significant industry interest – the areas in the Gulf being offered aren’t new, emphasizing the administration’s restricted approach to developing America’s energy resources. Milito:

“Every lease sale is important, but more important for our energy future than any individual sale is our nation’s broader energy policy framework. That, unfortunately, has been inadequate. The administration’s proposed five-year offshore leasing plan for 2012 through 2017 … would limit offshore development to where it historically has always been – parts of the Gulf of Mexico and offshore Alaska. It would restrict opportunities when it should be expanding them. It would not help prepare us well for our energy future.”

If the energy goal is to reduce oil imports, then tomorrow’s sale reflects a short-sighted vision that will struggle to take us there. Good news: It doesn’t have to be that way. America is energy-rich, with the resources, financial wherewithal and technological know-how to substitute domestic production for much of what we get now from foreign suppliers. It simply takes the right plan, the right approach.

With the right access policies – capitalizing on tight oil and shale gas discoveries, our offshore potential and increased supplies from neighbor and ally Canada – we could see 100 percent of our liquid fuel needs met by 2024, a little more than a decade away. Milito:

“We can do it safely. Industry continues to demonstrate a commitment to continuous improvement in operations to make things safer for our personnel, the public and the environment. In the offshore the industry, working closely with government, has enhanced its ability to prevent, contain and respond to a spill.”

Energy development is a long-term process. Limited vision and action sows seeds for the future. Milito:

“The proposed Department of Interior five-year plan is insufficient, and each year we implement it we will fall further behind what we really should be doing. The administration ought to begin working on a new plan immediately.  … Maintaining the status quo won’t work. Existing wells are continually depleting and need to be replaced with new discoveries. It is also important to open new areas for leasing so that industry can use new exploration technologies that will increase production.”

View the original article here

Hailing the Chief’s Support for Natural Gas Development, Fracking

President Obama deserves credit for standing fast in his support for natural gas development through hydraulic fracturing – especially given the no-to-natural gas approach taken by some of his supporters in the environmental community, including the Sierra Club. Here’s the president on Monday in Cincinnati:

“… We’re moving in the right direction in terms of energy independence. Now, part of that is this boom in natural gas.  And this is something we should welcome, because not only are we blessed with incredible natural gas resources that are now accessible because of new technologies, but natural gas actually burns cleaner than some other fossil fuels, and is an ideal fuel -- energy source that we potentially can use for the next 100 years.  So I want to encourage natural gas production.  The key is to make sure that we do it safely and in a way that is environmentally sound.”

The president is spot on – and as a response to a negative question about natural gas, his remarks were all the more remarkable. Because of abundant, affordable gas, made accessible through fracking, the global energy balance could be shifting. The president continued:

“Now, you always hear these arguments that somehow there’s this huge contradiction between the environment and economic development, or the environment and energy production.  And the fact of the matter is that there are a lot of folks right now that are engaging in hydraulic fracking who are doing it safely.”

This also is true. The oil and natural gas industry has focused on making hydraulic fracturing safer and more efficient through a set of standards that guide operators, and it has worked with states to develop regulatory regimes tailored for their specific conditions. The president went on:

“The problem is, is that we haven’t established clear guidelines for how to do it safely, and informed the public so that neighbors know what’s going on, and your family, you can make sure that any industry that’s operating in your area, that they’re being responsible.”

Well, OK. The president is mistaken or misinformed on that point. Industry has been clear and detailed in developing the standards mentioned above. It also has supported FracFocus.org to create transparency about fracking itself – a website community members can use to learn where wells are being drilled in their area, as well as the chemicals being used in the fracking fluids themselves. The industry takes community engagement and support seriously and is committed to getting shale development right.

Back to the president:

“What we’ve said is, look, we are going to work with industry to establish best practices.  We are going to invest in the basic research and science required to make sure this is done safely and in a way that protects the public health.  And for responsible companies, they should be able to operate, make a profit, and we can all benefit and put people back to work."

Best practices, we’re on it, Mr. President. Industry also is supportive of new technologies to improve operations, including those to reduce or even eliminate water use during the fracking process. Shale energy is creating jobs, thousands of them, and boosting the economy.

View the original article here

The Offshore Oil and Natural Gas Lease Sale We Need

Tomorrow’s scheduled Central Gulf of Mexico oil and natural gas lease sale in New Orleans will be the first in that area since March 2010. Setting aside for a moment the two-year gap in exploration and development caused by two years without new sales, tomorrow’s auction is important to America’s economic and energy security.

Unfortunately, the two-year gap is real and has real impact. Because it takes seven to 10 years for an offshore lease to start producing oil or natural gas, there’s a gap in the development timeline. It’s like a vintner who skips two years growing grapes; at some point in the wine-producing process there’ll be a lean vintage year. Here’s a chart that shows the stages and time requirements of offshore development:

A couple of other points about tomorrow’s lease sale, underscored by API’s Upstream and Industry Operations Director Erik Milito during a conference call with reporters: While it’s good the Bureau of Ocean Energy Management is holding the sale – which will generate significant industry interest – the areas in the Gulf being offered aren’t new, emphasizing the administration’s restricted approach to developing America’s energy resources. Milito:

“Every lease sale is important, but more important for our energy future than any individual sale is our nation’s broader energy policy framework. That, unfortunately, has been inadequate. The administration’s proposed five-year offshore leasing plan for 2012 through 2017 … would limit offshore development to where it historically has always been – parts of the Gulf of Mexico and offshore Alaska. It would restrict opportunities when it should be expanding them. It would not help prepare us well for our energy future.”

If the energy goal is to reduce oil imports, then tomorrow’s sale reflects a short-sighted vision that will struggle to take us there. Good news: It doesn’t have to be that way. America is energy-rich, with the resources, financial wherewithal and technological know-how to substitute domestic production for much of what we get now from foreign suppliers. It simply takes the right plan, the right approach.

With the right access policies – capitalizing on tight oil and shale gas discoveries, our offshore potential and increased supplies from neighbor and ally Canada – we could see 100 percent of our liquid fuel needs met by 2024, a little more than a decade away. Milito:

“We can do it safely. Industry continues to demonstrate a commitment to continuous improvement in operations to make things safer for our personnel, the public and the environment. In the offshore the industry, working closely with government, has enhanced its ability to prevent, contain and respond to a spill.”

Energy development is a long-term process. Limited vision and action sows seeds for the future. Milito:

“The proposed Department of Interior five-year plan is insufficient, and each year we implement it we will fall further behind what we really should be doing. The administration ought to begin working on a new plan immediately.  … Maintaining the status quo won’t work. Existing wells are continually depleting and need to be replaced with new discoveries. It is also important to open new areas for leasing so that industry can use new exploration technologies that will increase production.”

View the original article here

Hailing the Chief’s Support for Natural Gas Development, Fracking

President Obama deserves credit for standing fast in his support for natural gas development through hydraulic fracturing – especially given the no-to-natural gas approach taken by some of his supporters in the environmental community, including the Sierra Club. Here’s the president on Monday in Cincinnati:

“… We’re moving in the right direction in terms of energy independence. Now, part of that is this boom in natural gas.  And this is something we should welcome, because not only are we blessed with incredible natural gas resources that are now accessible because of new technologies, but natural gas actually burns cleaner than some other fossil fuels, and is an ideal fuel -- energy source that we potentially can use for the next 100 years.  So I want to encourage natural gas production.  The key is to make sure that we do it safely and in a way that is environmentally sound.”

The president is spot on – and as a response to a negative question about natural gas, his remarks were all the more remarkable. Because of abundant, affordable gas, made accessible through fracking, the global energy balance could be shifting. The president continued:

“Now, you always hear these arguments that somehow there’s this huge contradiction between the environment and economic development, or the environment and energy production.  And the fact of the matter is that there are a lot of folks right now that are engaging in hydraulic fracking who are doing it safely.”

This also is true. The oil and natural gas industry has focused on making hydraulic fracturing safer and more efficient through a set of standards that guide operators, and it has worked with states to develop regulatory regimes tailored for their specific conditions. The president went on:

“The problem is, is that we haven’t established clear guidelines for how to do it safely, and informed the public so that neighbors know what’s going on, and your family, you can make sure that any industry that’s operating in your area, that they’re being responsible.”

Well, OK. The president is mistaken or misinformed on that point. Industry has been clear and detailed in developing the standards mentioned above. It also has supported FracFocus.org to create transparency about fracking itself – a website community members can use to learn where wells are being drilled in their area, as well as the chemicals being used in the fracking fluids themselves. The industry takes community engagement and support seriously and is committed to getting shale development right.

Back to the president:

“What we’ve said is, look, we are going to work with industry to establish best practices.  We are going to invest in the basic research and science required to make sure this is done safely and in a way that protects the public health.  And for responsible companies, they should be able to operate, make a profit, and we can all benefit and put people back to work."

Best practices, we’re on it, Mr. President. Industry also is supportive of new technologies to improve operations, including those to reduce or even eliminate water use during the fracking process. Shale energy is creating jobs, thousands of them, and boosting the economy.

View the original article here