GLG News by LNG Experts

Michael LynchConsultantMichael E. Lynch

Old Mother Shell rings the bell in Q3

November 1, 2011

Analysis of:Shell Profits Soar as Big Spending Starts to Pay Off | www.rigzone.com

Shell Transport and Trading Company was amalgamated with Royal Dutch Petroleum on October 18, 1897. Today the 114-year old company leads the international oil and gas business into the 21st Century.  As it has done for most of its life, the company continues to invest heavily in new innovative ways of doing business. Their recent start-up, Pearl GTL, opened a gas-to-liquids plant which contributed 270,000 bbl/day of oil equivalent to a crude oil stream of 3.012 million bbl/day. Sales of liquefied natural gas were up 12%.

Michael LynchConsultantMichael E. Lynch

BP goes big with its first post-Macondo Gulf drilling permit

November 1, 2011

Analysis of:Govt Greenlights 1st BP GOM Permit after Spill | www.rigzone.com

In 2003, BP acquired the 51,800 acre lease in the Kaskida field and later bought out its partners. The discovery well, drilled in 2006, cut 800 feet of net pay in the Lower Tertiary. An appraisal well drilled in 2009 confirmed the test and indicated a 3 billion barrels field of oil. This large field would have gone into development much sooner but for the delays resulting from the Macondo spill in April 2010. BP plans to waste no more time and will drill within days using the West Sirius rig.

Hans LinhardtPresidentLTDI, Inc.

CTL could change the PAD I outlook

October 31, 2011

Three refineries are closing in the Petroleum Administration Defense District I  (PAD I) along the Atlantic coast. This eliminates 700,000 bbl of refinery capacity.

Michael LynchConsultantMichael E. Lynch

ENI find off Mozambique could push the company into the top tier

October 28, 2011

Analysis of:Eni Boosts Mozambique Discovery 50% to 22.5 Tcf | www.rigzone.com

After Eni’s October announcement of a giant natural gas discovery offshore Mozambique, the company followed up to say that the field is 50% larger than originally estimated. This bonanza in the Rovuma Basin, when added to Eni’s share of the supergiant Kashagan oil field in the Caspian Sea, has the potential to elevate the status of the company into the ranks of the remaining “Seven Sisters.” Former CEO Enrico Mattei aspired to this claim but it was denied him in his lifetime.

Michael LynchConsultantMichael E. Lynch

Proposed ITGI pipeline could put another nail in Nabucco's coffin

October 27, 2011

Analysis of:ITGI speediest outlet for Azeri gas, DEPA claims | www.offshore-mag.com

In September, Harry Sachinis, CEO of DEPA (Public Gas Corp. of Greece), said that their proposed ITGI pipeline system was the quickest way to bring more natural gas from Azerbaijan to southern Europe. ITGI would require a transit agreement between Turkey and Azerbaijan.

Michael LynchConsultantMichael E. Lynch

Ugandan OK of Tullow asset sales may put the company in play

October 26, 2011

Analysis of:Uganda Ruling Party Lawmakers Vote to OK Tullow Oil Deal | www.rigzone.com

While the crude oil discoveries in Uganda are large, at the present time they are “stranded” because they lack a pipeline connection. For some time, Tullow has been trying to finalize an agreement with CNOOC and Total SA which will allow Tullow to divest 2/3 of the assets. Included in the agreement is a plan to build a government demanded refinery and take steps to build a pipeline to the Indian Ocean via Kenya. The attempt to finalize the agreement has been stalled in the Ugandan government. Now it may finally go through.

Hans LinhardtPresidentLTDI, Inc.

CTL will revive coal in West Virginia and Kentucky

October 26, 2011

Adams Fork Energy’s company Transgas, has contracted with Uhde, a ThyssenKrupp company, to build three 18,000 (bbl/d) coal to liquids (CTL) plants with an estimated project investment of $4 billion per plant.  The project uses the latest cutting edge Uhde gasification PDQ [Prenflow with quench] technology together with ExxonMobil’s methanol to gasoline process (MTL).

Michael LynchConsultantMichael E. Lynch

Will BP's new Gulf of Mexico exploration plan change the company's strategy ?

October 25, 2011

Analysis of:BOEM Approves First GOM Plan Under New Standards | www.rigzone.com

BP’s recent announcements and budget allocations suggest a future based on the Middle East, the North Sea and West Africa. However CEO Robert Dudley has always claimed that the Gulf of Mexico was a key region and the company planned to use its many exploratory leases. The Gulf of Mexico is an expensive place to work, with Lower Tertiary wildcats costing over $100 million each. Will BP go as fast as the Bureau of Ocean Management allows or will they “go slow”?

Hans LinhardtPresidentLTDI, Inc.

What is the cost trend of large energy projects?

October 24, 2011

Analysis of:Duke to Take $220 Million Charge on Clean Coal Plant | online.wsj.com

This analysis looks at cost trends for large energy projects which employ gasification processes. These include synthetic natural gas (SNG), natural gas to liquid (GTL) and clean coal to power (IGCC) projects.

Michael LynchConsultantMichael E. Lynch

Eni gas discovery in Mozambique Area 4 may be akin to the Anadarko find in Area 1

October 24, 2011

Analysis of:Eni Touts Giant Gas Find Offshore Mozambique | www.rigzone.com

In early 2006, Eni was awarded an exploration license covering 6,813 square miles in Area 4. It is seaward and contiguous to Anadarko’s Area 1 which covers 4,125 square miles and was awarded at the same time. The region is known as the Rovuma basin. 

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