GLG News by LNG Experts

Michael LynchConsultantMichael E. Lynch

Oil fields are dangerous but remunerative places to work

December 2, 2011

Analysis of:Canadian Rig Worker Shortage Prevails, Despite Innovative Training | www.rigzone.com

ho have wanted to find work in the oil fields have been able to do so. When work became slack in one region, another would be getting started. This remains the case. In North America, Canada, Texas, California, Oklahoma, much of the mountain west and parts of the east are booming. There are also many opportunities abroad. The jobs pay well and there is little monotony. Drilling operations change by the hour. Danger always lurks but it also lurks in aviation, space travel, diving and even in road construction. Today when unemployment is high in the U.S. and Europe, oil field jobs go begging. Why is this so?

Michael LynchConsultantMichael E. Lynch

Sea floor oil seep at Chevron's Frade field roils Brazilian government

December 1, 2011

Analysis of:Government Suspends Chevron's Offshore Brazil Operations | www.rigzone.com

Chevron has now cemented off the pay zone in the appraisal well. While this seep is nothing compared to the Macondo disaster in 2010 in the Gulf of Mexico, the Brazilian government has magnified a minor incident. Brazil needs money and sees a chance to extract it from Chevron. This story is far from over and may have political repercussions that affect all operators in Brazil.

Michael LynchConsultantMichael E. Lynch

Total puts giant Pazflor on line offshore Angola

November 29, 2011

Analysis of:Total Inaugurates Pazflor Development | rigzone.com

Total is determined to hold its own in the ranks of the international major oil companies. Its involvement in offshore Angola has been heavy since the first concessions were offered 20 years ago. Now Total’s efforts are paying off in a big way. Total will soon be the largest oil producer in Angola with more to come when CLOV begins production in 2014.

Michael LynchConsultantMichael E. Lynch

Safe and responsible oil production coming to GOM by 2017

November 29, 2011

Analysis of:BOEM announces proposed Outer Continental Shelf oil and gas leasing program for 2012-2017 | www.offshore-mag.com

The Bureau of Ocean Energy Management announced its Outer Continental Shelf (OCS) oil and gas leasing program for 2012-2017. Interior Secretary Ken Salazar offered it as an expansion of “safe and responsible oil and gas production from the outer continental shelf.” Twelve annual area-wide lease sales will begin in the fall of 2012 to make available all unleased acreage in the western, central and eastern Gulf of Mexico. There will also be sales in the Beaufort Sea (2015), Chukchi Sea (2016) and Cook Inlet (2013). This proposal is consistent with the administration’s Blueprint for a Secure Energy Future.

Michael LynchConsultantMichael E. Lynch

Technip continues rocket-like growth in oil and gas industry

November 23, 2011

Analysis of:Technip Creates Consultancy Company | www.rigzone.com

Technip was organized in Paris in 1958 with 100 people. During the 1970’s, the French Petroleum Institute established Coflexip to design, manufacture and supply flexible subsea flowlines. In 2000, Technip and Coflexip merged. Today Technip is a recognized leader in the engineering, design, manufacturing and installation of various types of projects in areas including petrochemicals refining, natural gas-LNG and upstream exploration and production, in both shallow and deep water and onshore. Technip’s subsea operations are a fast-growing segment as umbilicals replace rigid steel tubulars. Technip operates all over the world and employs 25,000 people.

Hans LinhardtPresidentLTDI, Inc.

State department learns energy geopolitics

November 22, 2011

After the XL Keystone debacle with Canada, Hillary Clinton has established a “Bureau of Energy” to exclusively focus on energy within the State Department.

Michael LynchConsultantMichael E. Lynch

Environmental concerns plus cost savings drive "Green Rig" construction

November 22, 2011

Analysis of:First Movers in 'Green' Drilling:Low-Footprint Rigs | www.rigzone.com

For the last decade there has been increased focus on manufacturing drilling equipment with automated features, greater emphasis on safety and lower transportation costs. The effort has paid off and several manufacturers including National Oilwell Varco and Huisman lead the charge. These new rigs are now operating in eight countries.

Michael LynchConsultantMichael E. Lynch

Crude oil prices inch up as demand nears 90 million bbl/day

November 17, 2011

Analysis of:Crude Makes a Run at $100 A Barrel, Comes Up Just Short | rigzone.com

In Q3 2011, the International Energy Agency (IEA) estimated that world oil demand averaged 89.78 million bbl/day. That’s up over a million bbl/day since the same period in 2010. For all of 2011, IEA estimates that average daily demand will be 89.23 million. The implication is that at some point next year, demand will hit the 90 million mark. Given what we know about the supply side, OECD stockpiles will continue to fall and crude oil prices will go up.

Hans LinhardtPresidentLTDI, Inc.

Anadarko rings the bell in Colorado

November 16, 2011

Anadarko Petroleum found a billion-barrel field of oil and gas resources in Colorado’s Wattenberg field, North of Denver.

Michael LynchConsultantMichael E. Lynch

With Mozambique find, Eni joins rush into to Asia gas market

November 15, 2011

Analysis of:Eni To Invest $50B in Giant Mozambique Gas Find | www.rigzone.com

Eni has struggled for years to catch up with the oil supermajors considered the remaining five “sisters.” The Kashagan field in Kazakhstan was supposed to give Eni a long leg up, but the weather and the complexity of the field has delayed development. It should be much easier to develop the huge fields in Mozambique. The company expects to begin Asian exports by 2016.

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