GLG News by Oil and Gas Industry Experts (Gulf of Mexico)

Michael LynchConsultantMichael E. Lynch

China is still a good bet for Alberta bitumen

February 16, 2012

Analysis of:Canadian PM Shills Alberta Oil Sands in China | www.rigzone.com

Canadian Prime Minister Stephen Harper visited China to promote Alberta oil sand production. The main hurdle to the initiative is a delay in the construction of the Northern Gateway pipeline. Now that the Keystone XL pipeline is a dead letter, Canada would like to make China a leading importer of Canadian crude. The pipeline is also a challenge for Enbridge Inc, which specializes in pipeline construction and crude oil storage. Enbridge CEO Pat Daniel went with Stephen Harper to Beijing.

Michael LynchConsultantMichael E. Lynch

Ultra-deep drilling will absorb 25% of subsea tree market to 2016

February 15, 2012

Analysis of:New Global subsea market report out from Infield Systems | www.offshore-mag.com

In its just released Global Perspective Subsea Market Report to 2016, Infield Systems predicts that the dual challenges of sustaining production in mature areas and tapping new reserves in growth areas will boost the potential for subsea capital expenditure. Operators are being forced to venture into remote and harsher regions. Such projects require top tier equipment that’s more expensive than standard equipment. Thus prospects for equipment manufacturers are good.

Michael LynchConsultantMichael E. Lynch

Petrobras's $225 billion 5-year investment program looks Sisyphean

February 14, 2012

Analysis of:Petrobras 4Q Net Plunges, Challenges New CEO | www.rigzone.com

Petrobras’s profit plunged 52% in Q4 2011. The new chief executive, Maria das Gracas Foster, faces the challenge of climbing costs, including the rise in lifting costs from $6.08 to $7.02 per barrel. In spite of heavy spending, crude oil production in December 2011 was lower than a year earlier. Petrobras aims to add 480,000 bbl/day in 2012 but it may miss the deadline.

Michael LynchConsultantMichael E. Lynch

Will the CompactGTL modular system be a marginal field game changer?

February 14, 2012

Analysis of:GTL Unit Could Become 'Project Enabler' | www.rigzone.com

Simon Paul, business development manager with CompactGTL, thinks that the company’s small modular gas-to-liquids (GTL) system will have a major impact on how exploration and production companies view the economics of oil field development. The small reactor provides a disposal route for uneconomic associated gas: instead of flaring, it converts the gas into liquid reserves.

Martin AlpertPresident, Environmental Claims, The Sandner GroupHINZ CLAIM MANAGEMENT INC

BP Oil Settlement?

February 14, 2012

Analysis of:BP Said to Seek U.S. Settlement of Gulf Oil Spill Pollution Claims | www.businessweek.com

Will BP really attempt to quickly buy itself out of one of the largest oil spills ever? Even if they do will the amount be enough to get court approval?

Hans LinhardtPresidentLTDI, Inc.

Diesel in demand for shale E&P

February 13, 2012

Shale exploration and production (E&P) demands large amounts of diesel for drilling rigs, diesel powered trucks and diesel locomotives to ship crude south for refining.  Moving diesel to remote shale fields, such as Bakken and Barnett, is expensive.

Hans LinhardtPresidentLTDI, Inc.

Shale gas abundance provides new options for energy companies

February 13, 2012

Ten years ago, a 10 billion standard cubic feet per day (scfd) shortage of natural gas (NG) supply was forecast by U.S. energy companies.  Today, we have a surplus of shale gas (SG) and proven reserves of SG to cover our demands for the next hundred years. This has been accomplished by the advanced Exploration and Production (E&P) shale gas technologies developed by our oil and gas pioneers and major players in this field.

Michael LynchConsultantMichael E. Lynch

ConocoPhillips/Keppel Fels design new jackup rig for Arctic service

February 13, 2012

Analysis of:Keppel, ConocoPhillips to Build 1st Ice-worthy jackup | www.rigzone.com

The two companies are designing a first-of-its-kind ice-worthy jackup rig to operate in Arctic seas. The rig will have dual cantilevers to optimize operations within a limited time window. The hull will be designed for towing through ice and resisting impacts from floes. The design is expected to be complete by year-end 2013.

Michael LynchConsultantMichael E. Lynch

Total's sale of Colombian assets a further sign of caution and financial discipline

February 10, 2012

Analysis of:Total Sells Colombian Assets to Sinochem for $1 Billion | www.rigzone.com

Olivier de Langavant, senior vice president for Total, noted that the sale of these mature assets were in line with the company’s optimization strategy. This sale follows pipeline divestments in Norway and mature fields in Cameroon. In Colombia, selling the 7,000 bbl/day share of production from the mature Cusiana field will free up funds for exploration projects that have greater potential.

Michael LynchConsultantMichael E. Lynch

Tullow Oil finally gets good news from Ugandan government

February 10, 2012

Analysis of:Tullow 'Could Double Production' in 5 Years after Ugandan Deal | www.rigzone.com

The Ugandan government has finally awarded Tullow Oil (U.K.) the three production licenses, bringing “extra flexibility” to the company’s balance sheet. Tullow followers expect this move to unlock $10 billion in future investment and clears up its refinery and pipeline problems. Bank of America Merrill Lynch noted that Tullow’s funding problems are now resolved.

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