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About OIL-GAS-NEWS.COM

Created on 02/04/2003 10:24 AM by admin Updated on 11/13/2006 02:42 PM by admin

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Today Oil & Gas News

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Oil Falls to 6-Week Low as Storm May Miss Fields, Dollar Rises

Posted by: anonymous on 07/22/2008 02:27 PM (Read: 36)

July 22 (Bloomberg) -- Crude oil fell more than $3 a barrel, dropping to a six-week low, on forecasts a tropical storm in the Gulf of Mexico will miss oil installations and the dollar rebounded against the euro, reducing the appeal of commodities. Oil declined below $126 a barrel, down more than $21 from a record $147.27 reached on July 11, as Tropical Storm Dolly moved toward the Texas border with Mexico. The dollar rose on signs that U.S. interest rates may increase. Senate Democrats today cleared the first hurdle for legislation that aims to curb speculation in energy markets.

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US & Brazil Biofuel Industries Driving the Global Biofuel Market

Posted by: anonymous on 07/15/2008 07:37 AM (Read: 47)

The global biofuel production is expected to surge to 27,000 Million Gallon by 2014 with strong support from the US and Brazil, favorable government policies and spiraling crude oil prices.

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The New Power Jobs

Posted by: anonymous on 07/15/2008 07:33 AM (Read: 45)

White-hot jobs are opening up in the power sector. "These aren't just hot jobs, they're sizzling jobs," said Christine Real de Azua, spokeswoman for the American Wind Energy Association. Wind energy grew by 45 percent last year. "We need every type of job candidate." Indeed, with oil topping $100 per barrel, expect power industry jobs to explode in the next 10 years -- and not just in petroleum or the electric company. Want to repair wind turbines, manage a nuclear reactor or install solar panels? The jobs await. The U.S. Bureau of Labor Statistics (BLS) and energy leaders reveal what fields are expected to grow, and they are listed below with projected growth levels through 2016, salary data, and what you need to get a related job.

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Asia-Pacific – LNG New Additive in Energy Basket

Posted by: anonymous on 07/15/2008 07:38 AM (Read: 49)

Energy security policies and need for fuel diversification is encouraging the Asia-Pacific countries to adopt LNG as a means to reducing dependence on imported oil.

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PropTrac H Fracture Height Service

Posted by: anonymous on 07/15/2008 07:37 AM (Read: 66)

Hexion Specialty Chemicals offers an innovative PropTrac Fracture Height Service. This new fracture diagnostics system helps increase well production.

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Oil is making millionaires in North Dakota

Posted by: anonymous on 07/02/2008 11:08 AM (Read: 134)

By JAMES MacPHERSON, Associated Press Writer BEULAH, N.D. - Oscar Stohler was raised in a sod house in western North Dakota and ranched there for nearly seven decades. He never gave much thought to what lay below the grass that fattened his cattle. When oilmen wanted to drill there last year, Stohler, 83, doubted oil would be found two miles underground on his property. He even joked about it. "I told them if they hit oil, I was going to buy a Cadillac convertible and put those big horns on the front and wear a 10-gallon hat," Stohler recalled. He still drives his old pickup and wears a mesh farm cap — but it's by choice. In less than a year, Stohler and his wife, Lorene, 82, have become millionaires from the production of one well on their land near Dunn Center, a mile or so from the sod home where Oscar grew up. A second well has begun producing on their property and another is being drilled — all aimed at the Bakken shale formation, a rich deposit that the U.S. Geological Survey calls the largest continuous oil accumulation it has ever assessed.

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Using LOGDIGI advanced well-logging analysis & interpretation technology, LOGDIGI found 7 bypassed pay zones in a depleted oilfield in Texas.

Posted by: anonymous on 06/07/2008 01:50 PM (Read: 139)

These pay zones were bypassed by several well logging companies and large oil companies because it is very difficult for them to identify oil, gas or water using traditional well log evaluation technology. LOGDIGI perforated the 7 bypassed pay zones in one of the depleted oil wells on June 1, 2008. LOGDIGI got 240 bbl/day production. If you want to find any bypassed pay zone from the low productive old oil & gas wells, semi-depleted or depleted wells, LOGDIGI could help you or cooperate with you to find it.

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Re-evaluation Old Oilfield Using LOGDIGI Technology

Posted by: anonymous on 05/10/2008 11:14 AM (Read: 143)

What Makes Our Process More Accurate LogDigi technology completely adopts relative concepts and rebuilds a strict lithologic conductive equation. LogDigi technology is significantly improved well log analysis technology and different from current well-logging interpretation methods that use absolute concepts. Traditional technologies are all based on an approximate value in the designing of well-logging equipment, result measurements, data collection and data processing. When facing extremely complex lithology, it is necessary to design models in each area based on changes in objective conditions. Traditional technology does not adapt based on changes of objective conditions. Traditional technology is often affected by different lithological, regional, and well conditions. Traditional technology cannot accurately locate oil and gas zones with complex lithology.

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Well log digitizing Well log digitization

Posted by: anonymous on 05/10/2008 11:14 AM (Read: 153)

Logdigi,LLC provides the lowest price well log digitizing, well log digitization service, the highest quality, and the fastest well log digitizing service. Logdigi's automated well log digitizing system is a new strong Competitor of other companies - Well Log Digitizing system. Logidigi's well log digitizing fee is much cheaper than other digitization company. *Well Log Digitization price: average US$19~$59/well *Convert(digitized)paper log to digital log within 2 hours, faster than *ohter well log Digitizer *Accommodate order large and small, rush or long term *Guarantee high quality Service, 100% customer satisfaction *Use automated digitizing software to digitize, automated tracing well log *Quality Control: digitization software has an efficient "Automatic Match Function" *Deliver well-logging data in standard LAS format. LOGDIGI international log experience includes complex and problematic logs from P.R. China (36 oil fields), Russia, Latin America, Europe, the Middle East, and Africa.

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New measurement system for rapid flows

Posted by: anonymous on 05/01/2008 07:26 AM (Read: 194)

The new z8000 instrument from Industrial Tomography Systems can measure rapid flows through a pipe or vessel. This is particularly useful for engineers operating in the petrochemical and mining sectors, where understanding flow behaviour is crucial.

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Rocky Mountain Energy Epicenter 2008

Posted by: anonymous on 04/18/2008 07:36 AM (Read: 203)

Title: Rocky Mountain Energy Epicenter 2008 Dates: July 9-11 Location: Colorado Convention Center Denver. Website: www.epicenter2008.org

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Russian Oil and Gas Sector 2008 Realities Priorities Opportunities

Posted by: Bharatbook on 03/26/2008 07:27 AM (Read: 338)

PRELIMINARY CONFERENCE AGENDA 8.30 WELCOME COFFEE 9.00 – 10.00 Session 1. Strategy Scope Government Strategy for the Energy Industry in Russia National Legislation in Subsoil Use and Investment Climate Russia’s Role in Global Energy Balance 10.00-11.30 Session 2. Current Status and Future of Upstream Oil Projects in Russia Trends and Prospects of Upstream Development Opportunities for Investors and Suppliers: · Key Investment Issues: Government Regulation and Limitations for Investors (including the Aspect of Strategic Assets) · Investment Opportunities in Old Oil and Gas Areas: Alliances Between Russian and Foreign Companies, Medium and Small Assets, · Opportunities for Suppliers in Old Oil and Gas Areas: Technologies, Services and Equipment for Mature Fields and or Reserves Difficult to Recover · Offshore Production: Opportunities for Suppliers and Investors · Eastern Siberia: Opportunities for Suppliers and Investors

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Home prices in steepest quarterly drop

Posted by: anonymous on 02/14/2008 10:13 AM (Read: 317)

Realtors say prices fell faster and in more places over last part of 2007. NEW YORK (CNNMoney.com) -- Home prices continued their plunge during the last three months of 2007, setting a real estate trade group's record for the biggest-ever quarterly drop. . The national median price drop of 5.8%, to $206,200 from $219,300, was the steepest ever recorded by the National Association of Realtors (NAR), which has been compiling the report since 1979. NAR officials blamed the liquidity squeeze that began last summer for much of the drop. Home buyers had trouble obtaining mortgage financing, especially for more expensive properties.

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Tax Rebate Winners and Losers

Posted by: anonymous on 02/14/2008 07:21 AM (Read: 547)

As soon as lawmakers in Washington, D.C., began talking about tax rebate checks in January, two big questions arose: Who will get the money and how much will they get? Congress took a step toward satisfying our curiosity Feb. 7 with final passage of the Economic Stimulus Act of 2008 (H.R. 5140). When President Bush makes it law with his signature this week, the IRS can begin setting up the system to get checks out to 130 million Americans.

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Rebates: What you need to know

Posted by: anonymous on 02/09/2008 12:16 PM (Read: 449)

Friday February 8, 5:33 pm ET By Jeanne Sahadi, CNNMoney.com senior writer Lawmakers have given their final seal of approval to a $170 billion plan intended to spark the slowing economy. The plan's centerpiece: tax rebates. But questions remain about how the program will work, and officials at the Treasury Department and IRS are scurrying to work out the details. ADVERTISEMENT In the meantime, here are some answers based on currently available government information and experts' analysis. Do I qualify for a rebate and how much can I expect? One-time rebates will be sent to at least 117 million low- and middle-income households, 20 million senior citizens living off of Social Security, and 250,000 disabled veterans. To be eligible for a full rebate, single tax filers must have 2007 adjusted gross income (AGI) below $75,000 and joint filers must have AGI below $150,000. Adjusted gross income is not your annual salary. It's equal to gross income minus "above the line deductions," which are reported on page 1 of the 1040 tax form. Above-the-line deductions include deductible IRA contributions, alimony paid and, for the self-employed, some portion of money spent on health insurance or Social Security.

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BP to Cut 5,000 Jobs in Effort to Reduce Overhead by 15-20%

Posted by: anonymous on 02/08/2008 10:38 AM (Read: 335)

BP's CEO Tony Hayward held a press conference Feb. 5 to discuss the company's fourth quarter and full year results for 2007. Stating that 2007 was one that he and others at the company are happy to have left behind, he acknowledged that their 2007 financial results were less than stellar, falling 22% to $17.3 billion. "The main reason for this was a disappointing performance from our US refining operations," he said. Noting several achievements, such as the expected start up of Thunder Horse by the end of 2008, as well as six start ups in the second half of 2007, Hayward then moved to the company's Forward Agenda, "designed to restore BP's competitive financial performance." "On the reduction of complexity agenda, we have announced a number of changes to create a fundamental shift in how BP works," Hayward said. He revealed that BP's plan is to reduce corporate overhead by 15 to 20%. "We are starting from the top with fewer layers of management and smaller corporate infrastructure," he said.

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Croatian Oil Company INA selects ORTEC for Fleet Scheduling and Inventory Management

Posted by: anonymous on 01/31/2008 08:50 PM (Read: 328)

Oil company INA Industrija Nafte d.d. in Croatia has selected ORTEC’s route optimization system SHORTREC for optimal scheduling of her fleet. ORTEC’s demand forecasting and order generation tool ORION will be used to manage the inventory of INA’s petrol stations. INA is the first company in this region to make use of such advanced planning systems.

Read More | 1 Comments

Schlumberger: Cutting Jobs In North America As Business Slows

Posted by: anonymous on 01/18/2008 07:25 AM (Read: 391)

Schlumberger Ltd. (SLB) is cutting an unspecified number of North American employees due to slowing demand for oil field services, a spokesman said Tuesday. "After three years of robust and continuous growth in North America, Schlumberger is now making normal adjustment to the size of its workforce to meet the activity expected in the coming year," said spokesman Stephen Harris in an e-mail. Oil and gas producers sharply increased spending earlier in the decade to halt declines in natural gas production and take advantage of rising oil and gas prices. Growth slowed to a crawl last year, and many are expecting little or no increase in budgets for the U.S. and Canada in 2008. Job cuts in the oil field services sector are a natural response, said Bill Herbert, an analyst with Simmons & Co. in Houston. "This is basically just business as usual," he said. "Not only will others follow, others have been doing this." BJ Services Co. (BJS) is the only oil field services company with a large U.S. and Canadian market share to disclose layoffs, cutting its Canadian workforce by 19% between October 2006 and 2007. Halliburton (HAL), the leading service company in North America, is also watching its labor costs closely.

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Future Breeze - Spain to Install Offshore Wind Farms

Posted by: anonymous on 01/08/2008 02:48 PM (Read: 342)

In an effort to boost the use of renewable energy sources, the government of Spain has permitted legislation for the set up of offshore wind parks.

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How to invest where the oil is

Posted by: anonymous on 01/08/2008 02:48 PM (Read: 441)

Thanks to $100 crude and a thriving regional economy, a new Africa and Middle East fund made 29% amid the fourth-quarter mess in the US. By Tim Middleton Of that $100 we're spending for a barrel of oil these days, $10 goes to Saudi Arabia and $20-plus goes to its neighbors in Africa and the Middle East, according to the International Energy Agency. You can get some of that money back through a new mutual fund, T. Rowe Price Africa & Middle East (TRAMX). Launched in September, the fund was ahead a stunning 29% by the end of 2007. And that's on a portfolio with 63% of its assets in the financial sector, which is withering in oil-consuming nations but prospering in the places where all that oil money is being sent.

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Also on this Site...

Premium Company Profile: Ecolab Inc.: Bharatbook.com
Bharatbook.com is proud to announce the new report “Premium Company Profile: Ecolab Inc.” (http://www.bharatbook.com/detail.asp?id=68551) from its vast collection of informative market research reports.

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Financial Management for Exploration & Production Profe
Mastering key steps to practically design, structure, track project cash flow and profitability through proven techniques.

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Realtimenews@AAPG: Innovative Techniques Minimize Inter
by Gretchen Gillis
Thu, Nov 9, 2006 01:29 GMT

PERTH, Australia ?Making good reservoir predictions is a crucial endeavor for petroleum geologists, as evidenced by numerous presentations given here at the AAPG International Conference and Exhibition.

Geological interpretations of outcrops, wells, or other data types depend heavily on the skill of the interpreter, and typically are strengthened by the interpreter抯 experience. The oil and gas industry is hiring new geological interpreters at breakneck speed, and often these interpreters collaborate on large projects, so consistency of interpretive approach is desirable.

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Monitoring Reservoir Seismic Activity to Optimize Devel
SAN ANTONIO – Advances in monitoring reservoir-stimulation treatments are improving well productivity and field development.

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Method of propagating a hydraulic fracture using fluid
two-fluid method for fracturing a subterranean formation to increase the production of fluids from a well therein has been discovered. In a typical operation, a fluid pad is injected into the well which essentially simultaneously fractures the formation and forms a low permeability filter cake on at least part of the fracture. A proppant transport fluid containing proppant is then injected to prop open the fracture once the pressure is decreased. The filter cake is removed to permit production to begin. Although many conventional fluids may be used for the fluid pad, one preferred fluid pad uses graded calcium carbonate particle sizes and a modified lignosulfonate as a filter control agent. Optionally, a thixotropic polymer may be present as a viscosifier.

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Viscoelastic surfactant fracturing fluids and a method
Viscoelastic surfactant fluids for fracturing subterranean formations penetrated by a wellbore. The surfactant fluids are comprised of an aqueous medium; an effective amount of an inorganic water soluble salt; and an effective amount of at least one surfactant selected from the group consisting of: i) anionic surfactants; ii) nonionic surfactants; and iii) hydrotropic surfactants. The surfactant compositions can be further stabilized and the viscosity increased by the addition of one or more hydrophobic organic alcohols. This invention also relates to a method for fracturing subterranean formations using said viscoelastic surfactant fluids

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Mature Colombian field improved with dual stimulation
A combination of acid and propped fracturing technologies generated a significant increase in production and reserves, where hydraulic fracturing had failed.
Colombia's Orito field has operated for more than 35 years. By this decade, it had seen production decline to less than 3,500 bopd from a one-time peak of 66,000 bopd. Recently, Petrominerales achieved a significant increase in production and recoverable reserves by using a dual stimulation service that combines acid and propped fracturing technologies.

The treatment was successfully used in a reservoir that has frequently failed to respond to hydraulic fracturing, and where a 2002 third-party reservoir study concluded that the wells "indicate higher skin factors following the fracture treatment and lower production ratios, regardless of the fluid used." The service is designed to remove fracture face skin and optimize fracture conductivity.

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Fracturing Fluid Systems
The Challenge:
Create an economical fluid that easily and safely transports the required proppant into the fracture. The fluid must then break and be recovered from the fracture, allowing the proppant pack to produce unimpeded by the placement fluid.

The Solution
The wide range of Fracturing Fluid Systems available from Halliburton.

Halliburton has long been the industry leader in giving you the most value from the stimulation treatment by increasing hydrocarbon production from your formation. Halliburton considers all of the design requirements necessary for a successful job including:

Fluid Type
Viscosity requirements
Fluid rheology
Economics of fluid
Experience with local formations
Laboratory data on the formation
Material availability
Proppant selection
In fact, Halliburton tailors the treatment fluid specifically to your reservoir. The result: Minimized damage, maximized results. Whether your application calls for linear gels, crosslinked gels, LGCs, or foam, we have the experience and knowledge to design, prepare, and carry out your stimulation operation.

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The Lewis Shale, San Juan Basin: Approaches to Rocky Mo
The Lewis Shale, San Juan Basin: Approaches to Rocky Mountain Tight Shale Gas Plays
Based on a workshop sponsored by PTTC's Southwest Region on February 21, 2001 in Albuquerque, New Mexico
BOTTOM LINE

As production from conventional reservoirs in the continental U.S. is decreasing, gas from the Lewis and similar unconventional reservoirs will become increasingly important for future gas supply. Significant Lewis Shale gas reserves may be commercially accessible in old and new wells within the San Juan Basin. Key features for successful development and exploitation include lithofacies (coarser-grained, quartz-rich intervals are best), presence of natural macro- and micro-fractures, number of treatments, type of stimulation, and optimal completion techniques.
PROBLEM ADDRESSED

The Lewis Shale can be successfully completed in a large number of old wells in the San Juan Basin where significant tight gas reserves remain. Completions in the Navajo City and First and Second Otero intervals of the Lewis Shale have a good track record in this basin. Characterization of reservoir properties can be integrated with reservoir simulation and hydraulic fracture models to high grade the Lewis, both regionally and within the nearly 1,500 ft thick vertical column. Although an optimal completion technique is still being developed for the Lewis, more than one stage of frac treatment is currently cost prohibitive and may be ineffective. Water-based stimulation fluids and frac fluid retention within the formation reduces relative permeability to gas and should be minimized. A type-curve model provides a practical and simple method to evaluate Lewis Shale reserves.
KEY WORDS:

Lewis Shale, San Juan Basin, Natural Fractures, Frac Treatment, Completion Technique

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Time-Lapse Seismic Helps Reservoir Management in South
LONDON - Speaking here today before the European Association of Geoscientists and Engineers (EAGE), Christian Schiøtt of Hess Denmark, and Jorg Herwanger, a WesternGeco geoscientist, discussed the importance of time-lapse seismic data for understanding reservoir compaction in South Arne Field—a compacting chalk reservoir—in the Danish sector of the North Sea.

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great! Posted on: 2008-07-28 09:00:27   By: Anonymous
i just like oli-gas & wow gold go on! [Reply ]

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