OIL and GAS ARTICLES of Interest

[dothedd]

T. Boone Pickens' Extremely Bullish Energy Bets
March 1, 2011

T. Boone Pickens, the billionaire chairman of BP Capital LLC, talked about the impact of turmoil in the Middle East on oil prices and the need for new U.S. energy policy on Bloomberg Television's Surveillance Midday. He said that the world's spare capacity was shrinking to worrying levels that would give OPEC little ability to quickly meet demand, meaning that prices would have to climb high enough to stop people using more oil:

You've got a similar situation to 2008, with extra supplies available in this market possibly less than 1 million barrels (per day) now. The Mideast is in real turmoil. It's on fire. The price can go anywhere. You're gonna see oil go up from here, and how high up I can't tell you, but if it went to 120, if it went to 150, that could all happen.

Pickens believes that the problem is ourselves, not the Middle East or Canada, and he wants President Obama to develop an energy plan:

Wait a minute, blame ourselves! We're the problem. Those people are just selling oil. We've gone 40 years and never had an energy plan. We're the largest user of oil in the world. We use almost 25% of all the oil used every day with 4% of population and we have no energy plan. Let's focus on ourselves. We're the problem.


Pickens is extremely bullish about the following stocks, giving them the highest weight in his portfolio:


Company
Ticker
Value (Million)

CHESAPEAKE ENERGY CORP
CHK
23

BP PLC
BP
23

MCMORAN EXPLORATION CO
MMR
20

WEATHERFORD INTERNATIONAL LT
WFT
20

PLAINS EXPL& PRODTN CO
PXP
19

QEP RES INC
QEP
17

EOG RES INC
EOG
16

SANDRIDGE ENERGY INC
SD
14

SUNCOR ENERGY INC NEW
SU
14

NOBLE CORPORATION BAAR
NE
12

DEVON ENERGY CORP NEW
DVN
12

NATIONAL OILWELL VARCO INC
NOV
11

OCEANEERING INTL INC
OII
11

HALLIBURTON CO
HAL
11

DAWSON GEOPHYSICAL CO
DWSN
8


Pickens added 140,000 shares of CHK during the fourth quarter, making it the largest position in his portfolio. That was a very shrewd move: CHK has gained 34% so far in 2011. His second largest position, which he added during the third quarter, is British Petroleum. John Griffin’s Blue Ridge Capital, John Burbank’s Passport Capital, David Einhorn’s Greenlight Capital, and Whitney Tilson’s T2 Partners also have large BP bets.


His fourth-largest position, Weatherford International, is favored by Dan Loeb’s Third Point and Barry Rosenstein’s Jana Partners. His fifth largest position, PXP, is liked by billionaires George Soros and Leon Cooperman.

Disclosure: I am long CHK.

[Small Biz Owner]

Pickens is right. The world, especially China, has a strong energy demand and it will continue until a more viable replacemant is found.

[dothedd]

I've invested in Pickens since 1986.

IMO we would be well-served to 'TAKE OVER' ... Saudi Arabia, and let the other oil countries wear-themselves-out-fighting and before they go nuclear take them over and own it all.

THEN send Hilliary over to assist in establishing the government...,



Yes, I'm somewhat RADICAL!

[dothedd]

Oil Price: Angola May Take Spotlight from Libya
March 07, 2011

According to the Portuguese newspaper Economico, demonstrations were planned for Monday, March 6, in Luanda, the capital of Angola. Also, the price of West Texas Intermediate is above $106, while Brent is trading above $117 as I write, despite talk of President Obama considering the use of oil reserves to sooth rising prices.

Angola, no stranger to civil wars and instability, having spent 27 years in complete chaos, is a larger producer than Libya. Corruption and a complete disregard for the needs of the population is a daily affair, and although many companies operate in that environment, the volatility can shut production far quicker than in Libya. From what I read, the theme is the same to what we have heard in Tunisia, Egypt and Libya - equality and improved living conditions.

According to the EIA’s Outlook January 2010 report, the importance of this sub-Sahara African country to the oil market is summarized as follows:

In 2007, Angola formally became a member of OPEC and in 2009, held the organization’s presidency. That year, Angola produced an average of 1.82 million bbl/d of crude oil, making it the largest crude oil producer in Africa and placing it seventh among OPEC members according to EIA. Despite increasing oil production capacity, Angola maintained output at approximately 200,000 bbl/d below capacity as a response to OPEC’s most recent production allocation (estimated to be between 1.52 million bbl/d and 1.66 million bbl/d) without cutting production by the full required amount.

Where Libya's largest market is Italy, with 28% of exports, only 3% of Libyan exports comes to the U.S. In contrast the U.S. market is the destination for 31% of Angola's oil exports, thus becoming a bigger factor at home if a disruption in supply takes place - and that is a big "if."

Fear premiums are at play and have absolutely nothing to do with real supply and demand, and disruptions of this type require temporary adjustments to trading strategies. Thus, shorting the oil market under these unusual geopolitical conditions is extremely risky and, as a side note, contract expiration and rollover has little or no bearing on oil prices, because as one closes, for example, a long position for this month, one will open a long position for the following month within seconds.

CONTINUED:
seekingalpha.com/article/256794-oil-price-angola-may-take-spotlight-from-libya?source=article_sb_exclusives_1_old

[dothedd]

This is interesting....

NUMERICAL DATA PRICE LIST
Beginning Without With
Pricing Data Item Date Spot Price Spot Price
1. Plains Marketing's WTI Posted Crude oil prices 1/1/81 $120
2. a. NYMEX closing prices of Light Sweet Crude oil 4/1/83 $120 $140*
b. NYMEX closing prices of Heating Oil 6/1/96 $80 $100*
c. NYMEX closing prices of Unleaded Gasoline 1/1/96 $80 $100*
d. NYMEX closing prices of Propane 1/1/99 $60 $80*
e. NYMEX closing prices of Henry-hub Natural Gas 1/1/96 $80 $100*
f. NYMEX closing Dow Jones Industrial Average 1/1/96 $60
g. IPE closing prices of Brent Crude 6/23/88 $100 $120*
3. a. NYMEX Light Sweet and Plains Marketing's WTI Posted crude prices 1/1/91 $120
b. NYMEX light sweet crude and IPE Brent crude prices 1/1/91 $120
c. NYMEX light sweet crude and Henry-hub nat'l gas prices 1/1/96 $100

4. Spot price combined file with 8 price indices 1/1/97 $130
(WTI, Brent, Alaska North Slope, Saudi Arabian light,
gasolines, fuel oil, and Henry-hub natural gas)

5. Annual price data varies $80
oil (1900), natural gas (1922), gasoline (1978), distillates (1978), propane (1978)


--------------------------------------------------------------------------------
A BETTER VIEW OF THE DATA:

www.oilnergy.com/datanumb.htm

[dothedd]

Ty,

Take a look at SYNM ... LOOKS INTERESTING!

Syntroleum Corporation and its subsidiaries engage in the commercialization and licensing of Syntroleum technologies to produce synthetic liquid hydrocarbons. It owns the Syntroleum Process technology for the conversion of carbon containing material into synthesis gas; and conversion of synthesis gas or coal-derived or biomass derived syngas into hydrocarbons. The company also owns the Synfining Process technology for the conversion of Fischer-Tropsch wax into various products, including diesel fuels, heating oil, jet fuels, lubricants, naphtha, and other materials; and the Bio-Synfining technology to process a range of feedstocks, including vegetable oils, fats, fatty acids, and greases into synthetic distillate fuels, such as diesel fuel, heating oil, jet fuel, naphtha, and propane. In addition, Syntroleum Corporation, through a joint venture with Tyson Foods, Inc., constructs and operates renewable synthetic fuel facilities. Further, the company focuses on military grade fuels development. Syntroleum Corporation was founded in 1996 and is based in Tulsa, Oklahoma.

www.syntroleum.com/profiles/investor/fullpage.asp?f=1&BzID=2029&to=cp&Nav=0&LangID=1&s=0&ID=11912


Syntroleum (Nasdaq: SYNM) is turning natural gas, fats, oils and greases into synthetic fuels, including jet fuel. Anything is possible if McDonald's waste could someday power a cross-country commercial flight.

[tyfighter3]

I'll take a look st it.

[dothedd]

YOU GOT KARMA

[dothedd]

Ty, this is interesting:

ION Geophysical Corporation (IO)

It's been on my radar for a while …last time I looked at it was in the $9's, until today and it closed yesterday @12.80.

Would have been a good trader, but I was otherwise engaged!

Oilfield services leaders Schlumberger (SLB) and Halliburton (HAL) on Monday bolted higher, possibly on comments made by Schlumberger CEO Andrew Gould at a New Orleans analyst conference.

Schlumberger jumped 4%. Halliburton vaulted 4%. Both are in the oilfield services group. Baker Hughes (BHI), a services-rich player in the oil and gas machinery makers group, also added 4%.

Both groups ranked in the top 10 industries tracked by IBD on Monday.

Schlumberger and Halliburton lean more heavily to the services side. Baker Hughes has a stronger equipment focus. But all three ply the same middle market in the industry — providing expertise and technology to oil and gas companies searching for and attempting to produce energy.

Schlumberger pulled the biggest revenue last year, just a shade under $29 billion. Halliburton saw almost $18 billion. Baker Hughes reported more than $14 billion.

From a leadership standpoint, Halliburton holds a Composite Rating of 99. Two others in the services group, Complete Production Services (CPX) and RPC (RES), also hold 99 ratings.

In the machinery equipment group, Baker Hughes carries a Composite Rating of 97. Thinly traded Carbo Ceramics (CRR) and Lufkin Industries (LUFK) are rated 99s; ION Geophysical (IO) rates a 98.

CEO Gould told investors that Schlumberger's first-quarter results would take a hit from operations affected by conflict, primarily in Egypt, Tunisia and Libya.

Gould also outlined the long-term case for bullishness on the services sector. He made the point that, moving forward, oil exploration and development projects would become "more difficult and more expensive to execute."

The world, Gould said, "has been consuming considerably more oil than has been discovered," driving a boom in exploration. Much of that exploration will occur in challenging environments, at a time when regulations are forcing operators to a more professional level of protocols.

The future, Gould said, "will all be about raising the bar on execution."

www.investors.com/NewsAndAnalysis/Article.aspx?id=567305&ven=yahoo


Exec’s Comments Lift Schlumberger, Halliburton
Oilfield services leaders Schlumberger (SLB) and Halliburton (HAL) on Monday bolted higher, possibly on comments made by Schlumberger CEO Andrew Gould at a New Orleans analyst conference. Schlumberger jumped 4%. Halliburton vaulted 4%. Both are in the oilfield services group. Baker Hughes (BHI), a ...
 - Investor's Business Daily 03/28/2011 06:29 PM ET
ION Geophysical is Among the Companies in the Oil & Gas Equipment & Services Industry With a Relatively Low Earnings Yield (IO, GLF, TESO, LUFK, PHIIK)

Mar 28, 2011 (SmarTrend(R) News Watch via COMTEX) -- Below are the five companies in the Oil & Gas Equipment & Services industry with the lowest Earnings Yields. Earnings yield is useful to compare the relative benefit of owning a stock vs. owning other yield assets such as bonds. If the earnings ...
 - Comtex SmarTrend(R) Morning Call 03/28/2011 05:40 AM ET
Best Relative Performance in the Oil & Gas Equipment & Services Industry Detected in Shares of Global Industries (GLBL, RES, IO, BAS, EXH)

Mar 25, 2011 (SmarTrend(R) News Watch via COMTEX) -- Below are the top five companies in the Oil & Gas Equipment & Services industry as measured by relative performance. This analysis was compiled based on yesterday's trading activity as we search for stocks that have the potential to outperform. ...
 - Comtex SmarTrend(R) Morning Call 03/25/2011 06:25 AM ET
52-Week Low in the Rear-View Mirror for ION Geophysical (IO, RES, BAS, CPX, TGE)

Mar 24, 2011 (SmarTrend(R) News Watch via COMTEX) -- ION Geophysical (IO) is the Oil & Gas Equipment & Services stock farthest from its 52-week low. Closing at $12.56, it is now trading at 285% over its 52-week low of $3.26. Speed of ascent from a 52-week low is an important indicator of price ...
 - Comtex SmarTrend(R) Morning Call 03/24/2011 06:56 AM ET
Best Relative Performance in the Oil & Gas Equipment & Services Industry Detected in Shares of Lufkin Industries (LUFK, GLBL, HLX, IO, HAL)

Mar 24, 2011 (SmarTrend(R) News Watch via COMTEX) -- Below are the top five companies in the Oil & Gas Equipment & Services industry as measured by relative performance. This analysis was compiled based on yesterday's trading activity as we search for stocks that have the potential to outperform. ...
 - Comtex SmarTrend(R) Morning Call 03/24/2011 06:35 AM ET

[tyfighter3]

I will also take a look at IO. Sounds interesting. I also saw that you want to short NVAX over on the other board. You see something coming?

[dothedd]

Regarding NVAX,

NO ... it's just time for the shorts to take it for a ride again!!!!
Just practicing the process on the other board.

IO ... Of the companies in that industry, I thought it might have an up-side.

I've been looking for another NOG ... which, would be nice!

[dothedd]

Ty,

This could have been what moved the sector in tandem today???

GOOD ARTICLE:

UPDATE 3-Saudi Arabia prepares 28 pct increase in oil rigs-report
Tue Mar 29, 2011

* Kingdom taps oil service companies to employ more rigs
* Top OPEC producer to expand oil rigs 28 pct - Simmons
* Move "manifestly positive" for oil service cos - Simmons
* Shares in Halliburton, Baker Hughes, Schlumberger soar (Adds consultant, analyst comments, context on Simmons & Co)

NEW YORK/SINGAPORE, March 29 (Reuters) - Top oil exporter Saudi Arabia has unexpectedly called on oilfield service firms to expand the kingdom's oil rig count by nearly 30 percent, according to Simmons & Co, to ensure spare production capacity remains ample as supply uncertainty grows.

Saudi state-run oil giant Saudi Aramco met with leading oil service companies including Halliburton over the weekend, unveiling plans to boost the country's rig count this year and next to 118, from around 92 now, Simmons & Co analyst Bill Herbert said on Monday.

"Saudi Arabia has been expected to tread water on its production capacity, so this is unexpected," Herbert said from Houston in a phone interview.

"The risk premium in the Middle East has risen. Also, with Libyan production falling, Saudi Arabia may feel it has to be ready for higher production capacity."

Plans to boost the rig count constitute the most overt evidence that Saudi Arabia, holder of the world's biggest oil reserves, is stepping up investment in the face of crude prices of over $100 a barrel, though it is unclear whether this will expand the kingdom's spare capacity beyond the current total of as much as 3.5 million bpd, or merely prevent it from falling.

"It's definitely not for expanding capacity," said Siamak Adibi, senior consultant at FACTS Global Energy in Singapore.
"For this year, the majority of new wells to be drilled is just for maintaining existing capacity" of 12.5 million barrels per day, Adibi added, including the neutral zone.

Saudi oil-minister Ali al-Naimi has outlined plans to boost the kingdom's crude oil production capacity to 15 million bpd, including mention of specific fields, saying such an expansion would only proceed if warranted by demand. [ID:nLDE6592B8]
But Simmons & Co founder Matthew R. Simmons, until his death in August 2010, repeatedly questioned the kingdom's ability to boost and sustain production at high levels in the long term, citing geological constraints.

'IMPORTANCE IN THE WORLD'

More than any other country, Saudi Arabia defines its international role by the ability to rapidly increase oil production to meet growing demand or cover disruptions elsewhere, such as the recent collapse in shipments from war-torn Libya. The kingdom has responded by pumping 500,000 to 750,000 barrels a day more in recent weeks, analysts said.

"This is Saudi Arabia's raison d'etre. It must ensure that spare capacity is sufficient or else its importance in the world will be diminished," said oil analyst Peter Beutel of Cameron Hanover in Connecticut.

Analysts said a recent Saudi output boost to around 9 million barrels a day may have made Aramco apprehensive about its ability to prime the pumps further if the world calls for much greater volumes.

"At the start of the year they were producing around 8.5 mln bpd of oil and were sitting on around 3.5 mln bpd of spare capacity. They've had to increase production by between 500,000 and 750,000 bpd after Libya went out of the market so their spare capacity is already way down," said Roger Read, managing director at Morgan Keegan in Houston.

A New York-based oil analyst, who tracks Saudi production and requested anonymity, said: "You could see this in one of two ways. Either they realize that 3 million barrels of spare capacity isn't enough, or they realize their capacity isn't actually that high."

Saudi Arabia hasn't publicly discussed plans to expand its overall crude capacity since completing a $100 billion project to raise it by 3 million bpd to a "sustainable" 12 million bpd last year, excluding the neutral zone, leading some analysts to conclude that the increase in rig counts responds to decline at older fields.
"The decline rate in some large OPEC producers like Iran and Saudi Arabia is not new. It's a challenging issue for these countries, so they just want to drill more wells to keep the same production capacity," Adibi said.

SOARING RIG COUNT

Saudi Arabia wants the rig count to rise quickly in the second half of 2011 and the first half of next year, and may use some of them for a $16 billion Moneefa project, Herbert said.

Aramco is undertaking the Moneefa project to compensate for declines at other fields rather than to boost capacity, with a planned start-up by June 2013 at 500,000 bpd and a ramp-up to 900,000 bpd by 2024. [ID:nLDE65E1QY]

"There will be some new rigs for Moneefa, but they won't go ahead to drill all wells in one year," Adibi from FACTS said.
"It will gradually increase production over ten years and it will be offsetting decline from other fields. It's not additional capacity."

Halliburton said late on Monday that it would accelerate activity at Moneefa, a project to tap massive offshore heavy crude reserves, following recent discussions with Saudi Arabia. In 2008, the company was awarded a contract to provide drilling and associated work at 93 Moneefa wells off northeast Saudi Arabia.
The plans are "manifestly positive" for oil service companies, Herbert said. Their shares soared on Monday.

Halliburton rose 4 percent to $47.90 on the New York Stock Exchange after touching a 52-week high. Shares in Schlumberger also rose more than 4 percent, while Baker Hughes rose 3.8 percent.

Schlumberger Chief Executive Andrew Gould privately told analysts on Monday he was encouraged by Saudi Arabia's commitment to expand spare capacity regardless of any pullback in oil prices, an analyst at the Howard Weil oil conference in New Orleans told Reuters. Crimped oil activity elsewhere in the Middle East and Africa is likely to hit Schlumberger's first-quarter earnings, Gould said separately. [ID:nN28219275]

U.S. oil futures CLc1 fell 14 cents to $103.84 a barrel early on Tuesday, down from a 30-month high near $107 last week.
Since January, political unrest in North Africa and the Middle East has helped to lift prices. So far, the kingdom has avoided major domestic unrest, although the upheaval has been threatening the regimes of neighboring Yemen and Bahrain.

"If we did see a significant oil supply shock and Saudi Arabia came out to produce more, that would be the telling factor that they are willing to supply the market in difficult times," said Ben Westmore, a commodities analyst at National Australia Bank, adding that "more exploration goes somewhere at communicating that sort of sentiment."

Saudi Arabia is OPEC's top producer and controls more than a fifth of world oil reserves.

(Additional reporting by Alexandra Barbados in Singapore, David Sheppard in New York and Braden Redd all in New Orleans; Editing by Marguerite Choy and Richard Chang)

www.reuters.com/article/2011/03/29/saudi-oil-rigs-idUSN2820996920110329?pageNumber=3

[tyfighter3]

Yes the Saudis will have trouble in increasing demand in the future that's why our own production is vital for our security. There has been another plan to build a pipeline from Cushing Ok to the gulf, Guess what? Our Government has put a halt on it. We are our own worst enemy.

[dothedd]

Ty:

There are mega oil and gas off the coast of North Carolina. I have research and e-mails from a resident that I will e-mail (the details) to you when I have time to search my files.

It's golfing weather....

b

[dothedd]

Friday April 1, 2011

Ion Geophysical Corporation Com(NYSE: IO )
After Hours: 13.55 0.00 (0.00%) 4:29PM EDT

Last Trade: 13.55
Trade Time: Apr 1
Change: 0.86 (6.78%)
Prev Close: 12.69
Open: 13.15
Bid: 13.40 x 100
Ask: 14.09 x 700
1y Target Est: 14.00

finance.yahoo.com/news/NYSE-stocks-posting-largest-apf-2913518750.html?x=0&.v=1

[dothedd]

John Hofmeister

John Hofmeister, the former President of Shell Oil, and the founder of Citizens for Affordable Energy, isn’t one to mince words.

Ty:

I saw him on C-Span this morning .... he should "head-up"our energy policy.

www.whywehatetheoilcompanies.com/


John Hofmeister: We’re Going About Energy Policy “Planlessly”
By Katie Fehrenbacher

gigaom.com/cleantech/john-hofmeister-were-going-about-energy-policy-planlessly/

[dothedd]

Hercules Offshore, Inc. (HERO)

Apr 11, 2011 5.60 5.86 5.40 5.44 6,664,300 5.44
Apr 8, 2011 5.59 5.99 5.50 5.66 18,584,700 5.66
Apr 7, 2011 6.48 6.54 6.31 6.38 5,975,800 6.38
Apr 6, 2011 6.57 6.67 6.20 6.23 5,600,300 6.23
Apr 5, 2011 6.80 6.80 6.33 6.44 8,195,400 6.44
Apr 4, 2011 6.92 6.97 6.63 6.80 5,696,400 6.80
Apr 1, 2011 6.85 6.99 6.66 6.78 9,094,700 6.78

[tyfighter3]

there is a lot of good Oil Company's out there to chose from right now.

[dothedd]

Apr 4, 2011 0:48:55 GMT -5 tyfighter3 said:

there is a lot of good Oil Company's out there to chose from right now.

HI Ty,

I know, but I'm looking for another NOG that I can trade. WOW what a great stock NOG has been!

Have a good evening ... or at least what is left of it!

barb

[tyfighter3]

The shorts have really wreck havoc on NOG. Earnings should put them straight or us straight. LOL

[dothedd]

Apr 5, 2011 0:49:27 GMT -5 tyfighter3 said:

The shorts have really wreck havoc on NOG. Earnings should put them straight or us straight. LOL

As to the shorts, Novavax tells that story. There is some interesting conversation on NOG's Yahoo board this morning. Do you post there?

Michael H. Steinhardt - check this guy out. He shorts 2 year treasuries. He was really on Buffet's case this morning on SQ!

dealbreaker.com/2011/04/michael-steinhardt-wants-to-know-how-long-before-people-like-cnbc-wake-up-to-warren-buffetts-reality/

I think I like him!

[dothedd]

Oil at $200 a barrel?
March 24, 2011 Yury Solozobov
What does unrest in the Middle East, disaster in Japan and increased demand in emerging markets mean for the global economy?

rbth.ru/business

[dothedd]

Ty, do you remember AC from the old TWX MSN NVAX board? I continue to look for the info back in 2006 from AC regarding the Oil and Gas reserves off the coastline of North Carolina that would go a long way solving the US energy crisis.

Below are articles from the Oil and Gas Journal, but I could not access them without subscribing to the magazine and I don't have time to read another magazine, so if you subscribe or know someone that does perhaps you could check out the articles.


Watching Government: Sustainability close to home - Oil & Gas ...
... Oil and gas industry support is not surprising. ... Hurricanes Katrina and Rita took
out 218 miles of coastline in 2005, she continued. High on 2009 agenda. 2008-11-03

US Senate, House groups try to break energy logjam - Oil & Gas ...
... Leasing within 25 miles of a state’s coastline would be banned, but coastal states
could authorize production ... The 125-mile oil and gas leasing buffer 2008-08-11

US Senate offshore leasing foes reaffirm opposition - Oil & Gas ...
... a rig or drillship could be seen from the state's coastline. ... senators emphasized the importance of sending more offshore oil and gas revenues directly 2005-04-25

US Senate offshore leasing foes reaffirm opposition - Oil & Gas ...
... that a rig or drillship could be seen from the state's coastline. ... senators emphasized
the importance of sending more offshore oil and gas revenues 2005-04-20

Construction plans surge on prospects for gas use - Oil & Gas ...
... of China's commitment to reduce its dependence on Middle East oil. ... From the plant, the gas pipeline will turn north and run along the 2004-02-02

US, INDUSTRY SETTLE LEASE SUIT OFF ALASKA, FLORIDA - Oil & Gas ...
... Florida Gov. Lawton Chiles said, "Our pristine coastline is a great asset to
Florida's quality of life. ... Copyright 1995 Oil & Gas Journal. 1995-08-07

MOBIL PERSISTS IN CAMPAIGN TO DRILL OFF NORTH CAROLINA - Oil & Gas ...
... "We've made the coastline of North Carolina appreciably safer-at least for a time-from the threat of willy-nilly offshore oil and gas 1991-07-22

US OCS LEASING PLAN CALLED INADEQUATE, MINIMUM EFFORT - Oil & Gas ...
... said he will seek to continue moratoriums blocking lease sales along the entire
California coastline. ... Copyright 1991 Oil & Gas Journal. ... 1991-03-04

FEDERAL LAND ACCESS ISSUES THREATEN ACTIVITY - Oil & Gas Journal
... the environmental and socioeconomic data to justify offshore oil and gas leasing
and ... we must not take for granted our magnificent coastline or fisheries 1990-06-04

WASHINGTON TO DETERMINE OCS LEASE SALE SCHEDULE - Oil & Gas ...
... that we must not take for granted our magnificent coastline or fisheries ... to
indiscriminately lock up vast areas of the OCS from oil and gas exploration 1990-01-08
www.ogj.com/index/search.QP129867.html?keywords=oil and gas of the coastline in North Carolina&spell=1&collection=ogj&sort=date&filter=0&num=10&selbrnd=



NIGHT!

[dothedd]

Oil price drops more than 3 percent
By CHRIS KAHN, AP Energy Writer Chris Kahn, Ap Energy Writer – April 12, 2011

NEW YORK – Oil tumbled more than 3 percent Tuesday after Goldman Sachs warned investors that crude is due for a "substantial pullback."

Goldman analyst David Greely noted that global supplies remain "adequate" even though the rebellion in Libya shut down production there. Before fighting broke out in February, Libya exported about 1.5 million barrels per day2 percent of global demand — mostly to Europe.

Fears of tightening global supplies have helped push oil prices 33 percent higher since the middle of February.

Benchmark West Texas Intermediate crude for May delivery gave up $3.71, or 3.4 percent, to $106.22 per barrel on the New York Mercantile Exchange, shedding nearly two weeks of price increases. At one point it dropped to $105.60. In London, Brent crude lost $3.47, or 2.8 percent, at $119.95 per barrel on the ICE Futures exchange.

Analyst and trader Stephen Schork pointed out that anyone who bought oil contracts last week paid between $107.58 and $112.94 per barrel. If oil continues to hold below that level, it could trigger a wider selloff.

"If they panic, we could be at $100 (per barrel) in no time," Schork said.

Meanwhile, gasoline pump prices continue to set new records for this time of year. The national average for a gallon of regular rose 2 cents on Tuesday to $3.79, according to AAA, Wright Express and Oil Price Information Service. Illinois has joined California, Hawaii and Alaska with average prices above $4 per gallon.

In other Nymex trading for May contracts, heating oil lost 9 cents at $3.1654 per gallon and gasoline futures gave up 5 cents at $3.1461 per gallon. Natural gas fell 4 cents at $4.064 per 1,000 cubic feet.

[dothedd]

APRIL 12, 2011

Communities divided over natural gas drilling

The bitter dispute over natural gas drilling has turned some neighbors against each other. While the practice has brought some landowners wealth, others are raising concern about environmental issues.…

VIDEO:

news.yahoo.com/video/us-15749625/24875388;_ylt=Av7otxX.FT10g2IccE3I7Y.RP5Z4

[dothedd]

NOG

Reviewing original notes on NOG:


20-Nov-08 3.25 3.35 2.60 2.63 230,800 2.63
Date Open High Low Close Volume Adj Close*
4-Dec-08 2.97 3.03 2.61 2.71 216,000 2.71
3-Dec-08 3.16 3.25 2.95 2.99 193,600 2.99
2-Dec-08 3.45 3.64 3.07 3.19 164,500 3.19
1-Dec-08 4.10 4.10 3.39 3.44 113,600 3.44
28-Nov-08 4.00 4.19 3.89 4.19 78,500 4.19
26-Nov-08 3.57 4.20 3.52 4.00 260,500 4.00
25-Nov-08 4.04 4.04 3.70 3.75 224,500 3.75
24-Nov-08 3.49 4.16 3.27 4.16 307,800 4.16
21-Nov-08 2.74 3.25 2.63 3.20 255,400 3.20
20-Nov-08 3.25 3.35 2.60 2.63 230,800 2.63


Location of Parshall, North Dakota
Coordinates: 47‹57Œ17N 102‹8Œ4W


Parshall is a city lying within the jurisdictional boundaries of the Mandan, Hidatsa, and Arikara Nation. It is located on the Fort Berthold Indian Reservation in Mountrail County, North Dakota, in the United States. It's population was 903 at the 2010 census. Parshall was founded in 1914, and is the home of the Paul Broste Rock Museum.

On February 15, 1936, Parshall hit a temperature of -60 ‹F (-51 ‹C), setting a state record which still stands today.[3]
Randy Hedberg, a former NFL quarterback, was born and raised in Parshall.

Parshall, North Dakota, is perhaps best known nationally as the town within, and providing the name for, the Parshall oil field, a very productive area of oil development by the Texas-based oil driller EOG Resources, Inc. This oil field began in 2006, and taps into a layer of hydrocarbon-bearing shale approximately 10,000 feet (3,000 m) down known as the Bakken Formation. The recent discovery includes some of the most productive on-shore oil wells in the United States, with initial production frequently exceeding 1,000 barrels (160 m3) of oil a day from each well. Primarily these wells are located directly north and west of the town.

This recent oil boom is highlighted in the series Boomtown on Discovery Communications cable channel Planet Green.


planetgreen.discovery.com/feature/boomtown-oil/

Date Open High Low Close Avg Vol Adj Close*
Apr 1, 2011 26.95 27.25 23.97 24.51 2,484,300 24.51
Mar 1, 2011 32.10 33.98 24.28 26.70 2,540,500 26.70
Feb 1, 2011 27.82 32.88 26.41 31.77 1,755,400 31.77
Jan 3, 2011 27.58 28.70 23.50 27.57 890,000 27.57
Dec 1, 2010 23.48 28.43 23.12 27.21 644,900 27.21
Nov 1, 2010 19.90 23.22 18.00 22.85 919,200 22.85
Oct 1, 2010 17.06 19.82 16.98 19.68 554,500 19.68
Sep 1, 2010 14.38 17.11 14.33 16.94 473,200 16.94
Aug 2, 2010 15.05 16.91 13.36 14.04 529,300 14.04
Jul 1, 2010 12.85 16.20 11.95 14.68 534,500 14.68
Jun 1, 2010 14.00 15.15 12.72 12.84 548,400 12.84
May 3, 2010 16.42 17.28 11.72 14.43 812,600 14.43
Apr 1, 2010 16.05 18.00 15.00 16.26 1,278,500 16.26
Mar 1, 2010 12.44 16.23 12.25 15.85 610,400 15.85
Feb 1, 2010 11.13 12.94 10.47 12.36 476,900 12.36
Jan 4, 2010 11.90 13.86 10.78 11.05 503,500 11.05
Dec 1, 2009 9.21 12.66 9.05 11.84 409,800 11.84
Nov 2, 2009 9.16 11.11 9.00 9.15 350,100 9.15
Oct 1, 2009 8.31 10.80 7.65 9.12 536,700 9.12
Sep 1, 2009 6.40 8.44 6.20 8.40 322,000 8.40
Aug 3, 2009 6.60 7.00 6.05 6.39 205,200 6.39
Jul 1, 2009 6.46 7.20 4.74 6.59 196,900 6.59
Jun 1, 2009 8.66 8.89 5.51 6.37 312,400 6.37
May 1, 2009 5.54 8.00 5.50 7.91 362,800 7.91
Apr 1, 2009 3.51 5.87 3.40 5.71 262,600 5.71
Mar 2, 2009 2.71 4.24 2.01 3.60 236,100 3.60
Feb 2, 2009 3.01 3.60 2.64 2.64 131,600 2.64
Jan 2, 2009 2.61 3.84 2.33 3.16 214,200 3.16
Dec 1, 2008 4.10 4.25 2.05 2.60 303,400 2.60
Nov 3, 2008 5.10 5.99 2.60 4.19 188,300 4.19
Oct 1, 2008 7.87 8.13 2.52 5.45 333,300 5.45
Sep 2, 2008 7.31 8.62 5.14 8.13 418,300 8.13
Aug 1, 2008 9.08 9.38 6.62 7.40 398,300 7.40
Jul 1, 2008 13.01 14.00 8.51 9.28 502,400 9.28
Jun 2, 2008 11.50 16.40 11.02 13.28 982,900 13.28
May 1, 2008 9.65 11.84 8.88 11.60 412,600 11.60
Apr 1, 2008 7.05 10.61 6.95 9.63 403,100 9.63
Mar 3, 2008 6.75 7.30 6.40 7.09 89,800 7.09
Feb 1, 2008 6.25 6.75 5.65 6.75 142,400 6.75
Jan 2, 2008 6.50 7.05 5.75 6.27 102,800 6.27
Dec 3, 2007 6.45 8.45 6.00 6.95 69,500 6.95
Nov 1, 2007 5.40 6.95 5.05 6.39 59,400 6.39
Oct 1, 2007 5.05 5.79 4.40 5.53 36,300 5.53
Sep 4, 2007 4.70 5.20 4.27 4.95 19,200 4.95
Aug 1, 2007 5.25 6.50 4.30 5.20 1,900 5.20
Jul 2, 2007 5.40 6.00 4.40 5.00 2,100 5.00
Jun 1, 2007 4.25 5.50 4.00 5.25 3,500 5.25
May 1, 2007 3.40 5.00 3.40 4.30 1,500 4.30
Apr 13, 2007 4.00 4.00 3.40 3.40 400 3.40

[dothedd]

High Oil Prices and the Investor's Strategies

April 7, 2011The ongoing rise in oil prices shows no sign of letting up. John Lekas, manager of the Leader Total Return fund, says he expects crude to approach the range of $200 a barrel this year, and he discusses the consequences for investors and the world economy. Interview by MarketWatch's Jonathan Burton.

VIDEO:

www.marketwatch.com/video/asset/high-oil-prices-and-the-investor-strategies/C7B30950-C457-4BD8-BA3E-BB79368B8981#!C7B30950-C457-4BD8-BA3E-BB79368B8981

[dothedd]

China risks cost of fracking to exploit shale gas Jonathan Watts
April 26, 2011.


U.S. Oil & Gas InvestmentAmericanEnergyProperties.com

Monthly Income + Tax Benefits! $20k Minimum. IRA/401k Qualified.

CHINA has begun trials of the controversial drilling technique known as fracking to exploit the world's largest reserves of shale gas, as it tries to cope with the energy demands of a fast-growing economy while reducing its dependence on coal.

In the past two weeks, engineers have completed the country's first horizontal shale gas well in Sichuan and government officials have begun drafting a national strategy to identify 1000 billion cubic metres of exploitable resources by 2020.

Supporters say China has the potential to emulate the US, where extraction of shale gas has tripled the lifespan of gas reserves and offered a lower-carbon alternative to coal.


''Shale gas is a game-changer for the US and should do the same for China,'' said Ming Sung, the Asia representative of the Clean Air Task Force in Boston and an advocate of closer energy links between the two nations.

''This should be one of the centrepieces for China's energy strategy. As with any new technology, we must balance benefits versus potential environmental impacts. The experiences of the US are valuable here.''

The extraction method is costly and controversial. Hydraulic fracturing, or fracking, involves the injection of chemically treated water at high pressure through seams of rock, forcing the gas inside to seep out to where it can be captured. Environmentalists say it wastes and contaminates huge volumes of water.

For fuel-hungry, drought-plagued China, this poses a conundrum. The energy potential is enormous. The ministry of land and resources calculates the size of shale gas reserves at 26,000 billion cubic metres - more than 10 times the known holdings of conventional natural gas. This is a tempting alternative for a country eager to improve its energy security.

A study released this month by the US Energy Information Administration said China's technically recoverable shale gas reserves were almost 50 per cent higher than those in the US. But tapping them will be expensive and difficult for a country that is desperately short of water and - until recently - lacking experience in the key technologies.

Engineers from China National Petroleum Corporation took a big step towards rectifying the latter problem on March 23, when it opened the shale gas well three kilometres below the surface at Weiyuan in Sichuan province.

Production is limited and the returns unattractive given low gas prices and the high costs of exploitation. But the project was deemed a success because it proved the effectiveness of drilling equipment.

Executives at CNPC have said they aim to produce 500 million cubic metres of shale gas by 2015.

With other firms such as Sinopec, Shell and Chevron lining up to enter the business, the government is drawing up a national strategy that is likely to be incorporated into the latest five-year plan. Industry insiders are hopeful that it will include tax incentives and subsidies to develop shale gas reserves.

www.smh.com.au/business/china-risks-cost-of-fracking-to-exploit-shale-gas-20110425-1dtzg.html