Frac sand inflation leads to reduced oil production
Nearly a month on, crude oil is trading at over $110 per...
Nearly a month on, crude oil is trading at over $110 per barrel, a price which has historically motivated oil companies to ramp up production, but the output of US drillers doesn't appear to have moved significantly.
One of the key reasons actually predates the war in Ukraine: the special sand required for hydraulic fracturing (frac sand) in shale oil production has gotten a lot more expensive
That material now costs between $40 and $45 per ton, Rystad Energy analyst Ryan Hassler told Axios — nearly 185% higher than last year. Two years ago, sand prices were in the teens.
Chesapeake Energy Corp. is seeking to become more involved in the growing LNG market, CEO Nick Dell’Osso said on March 23 at the Scotia Howard Weil Energy Conference.
“We’re really optimistic that we'll have something to talk about there at some point, ideally this year,” Dell’Osso said, referring to LNG.
Demand for U.S. LNG has increased with Russia's invasion of Ukraine in February and Europe looking to replenish dwindling inventories.
The Federal Reserve Bank of Dallas' Energy Survey, which collected data from 141 energy firms...
The Federal Reserve Bank of Dallas' Energy Survey, which collected data from 141 energy firms this month, indicated activity in the oil and gas sector increased in the first quarter of the year. Exploration and production firm executives said oil production increased at a faster pace, while the survey's broadest measure, the business activity index, reached its highest reading in the six-year history of the survey.
From Twitter: OPEC officials express concern on banning oil from Russia
OPEC officials believe a possible European...
OPEC officials believe a possible European Union ban on oil from its partner Russia would hurt consumers and the group has conveyed its concerns to Brussels, OPEC sources say https://t.co/SEvSi0ZPoapic.twitter.com/7rgkYxnWca
Oklahoma Governor Calls on Biden to Embrace Boosting Domestic Oil and Gas Production
Oklahoma was named one of the top two states in 2021 for oil and gas investment. Oklahoma Gov. Kevin...
Oklahoma was named one of the top two states in 2021 for oil and gas investment. Oklahoma Gov. Kevin Stitt recently joined Cornerstone’s Jack Belcher on the latest installment of Energy Policy Watch to discuss why Oklahoma is the right place to drill, why he’s a strong supporter of the state’s oil and gas industry and the state’s role in the energy transition.
“We’re very fortunate to have oil and gas in our state,” Stitt told Belcher.
