Daily Energy Price Outlook at Curve Ahead.
The super-majors can’t really increase production, they just increase production on a per share basis with continual share buybacks. Chevron warned. Costs balloon on Norway projects (Upstream Online).
“Global oil demand is looking weaker than previously forecast as the slowing economy continues to weigh on consumption, according to monthly reports released on Wednesday by the U.S. government and OPEC.” Reuters
Meanwhile, North Dakota’s exponential oil production sets more new records in August by Mark Perry:
Over in the Eagle Ford:
“He said current estimates suggest 20,000 wells will be needed to produce the oil and gas available in the Eagle Ford. With about 1,250 wells capable of being drilled a year, it would take about 16 years to reach that capacity, Hunt said.
That estimate could grow by a factor of four, however, if technology allows drillers to get more natural resources out of smaller leases, the economist said.” Houston Chronicle
Canadian oil output to rise 8.3% this year: U.S. energy department at Financial Post.
A huge Utica well was announced by Gulfport.
Should we be worried about higher natural gas prices? Fuel Fix
Natural Gas Prices: Pain in Context at Haynesville Play. In light of the Haynesville rig count, perhaps “Haynesville and Anadarko Drive Production Decline“ becomes the norm. If so, you’ll want to see this mornings ISA post on an old friend.
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