Tag: reserves
New research shows Permian Basin with 60 to 70 billion barrels remaining
Over 70 Permian Basin plays production corrected Energy researchers at IHS Markit have completed the first, three-year phase of a massive Permian Basin research project that models and interprets the giant basin’s key geologic characteristics. It was done to better estimate Permian’s remaining hydrocarbon potential, and initial results indicate the giant basin still holds an […]
Global proved oil/gas reserves decline for 2nd straight year
So far in 2017, capital expenditures remain lower than same period in 2016 Annual reports of 68 publicly traded oil companies indicated that their aggregate proved liquids reserves declined in 2016 for the second consecutive year, according to the U.S. Energy Information Administration. The decline in proved reserves was heavily concentrated in a few companies […]
US oil, natural gas proved reserves declined in 2015 due to low prices
Crude oil and lease condensate reserves decreased in most states in 2015, with largest net decrease in Texas US crude oil proved reserves declined 4.7 billion barrels (11.8 per cent) from their year-end 2014 levels to 35.2 billion barrels at year-end 2015, according to EIA’s recently released U.S. Crude Oil and Natural Gas Proved Reserves report. US […]
ERCOT expects enough electricity for summer, but El Niño could affect wind generation
Environmental regulations, utility decisions about power generation capacity could affect 10-year reserve forecast AUSTIN, Texas – ERCOT, the operator of the electric grid and competitive electric market for most of Texas, has released seasonal and 10-year outlooks that anticipate adequate generation capacity for upcoming electricity demands. However, both the Seasonal Assessment of Resource Adequacy (SARA) and […]
Range Resources reports Q4 losses, 2016 capex reduced by 45%
Substantially all activity is focused in Marcellus for 2016, Range Resources expects 8-10% increase in production Fort Worth, TX – Range Resources Corporation says it lost money in Q4 and is cutting its capex by 45 per cent for 2016. “Range continued to perform well operationally during the fourth quarter, despite the challenges from declining […]
New Texas power generation drives up ERCOT reserve margins through 2025
ERCOT peak demand summer forecast: 70,500 MW plus in 2016 growing to nearly 78,000 MW by 2025 AUSTIN, TX — The updated 10-year Capacity, Demand and Reserves (CDR) report released today by the Electric Reliability Council of Texas (ERCOT) shows a continuing rise in planning reserve margins in coming years, due primarily to the anticipated addition of […]
US oil and natural gas reserves both increase in 2014
Texas had the largest increase in proved reserves of crude oil and lease condensate, representing 60% of the nation’s total net increase in 2014 U.S. crude oil and lease condensate proved reserves increased by 9% to 39.9 billion barrels, and natural gas proved reserves increased by 10% to 389 trillion cubic feet in 2014, according […]
EOG Resources increases Delaware Basin potential by 1 billion barrels
Eagle Ford continues to be EOG Resource’s largest high return play EOG Resources, Inc. has reported a third quarter 2015 net loss of $4.1 billion, or $7.47 per share. This compares to third quarter 2014 net income of $1.1 billion, or $2.01 per share. During the third quarter 2015, proved oil and gas properties and related […]
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