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Category: Eagle Ford MInute

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Nippon TV – Shale Oil

Nippon TV interviews David Phillip, No Bull Radio Network owner.

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Eagle Ford Minute Feb 3

Karnes County Experiences Earthquake and Rig Count Decreases

by Randy Watson Email Randy

Three earthquakes occurred in a section of the Eagle Ford Shale zone 40 miles southeast of downtown San Antonio, the U.S. Geological Survey confirmed.

All three earthquakes happened in Karnes County on Friday.

Geological Survey data shows a 2.6-magnitude earthquake was first reported off FM 887 just northeast of Falls City at about 5:01 a.m. Friday. The second was listed as a 3.0-magnitude earthquake off FM 791 north of Fashing at 8:17 p.m. Friday. And a 2.8-magnitude earthquake was reported off FM 887 northeast of Falls City around 9:30 p.m. Friday.

The quakes come two weeks after an earthquake was reported near Jourdanton in neighboring Atascosa County. Read more

The Eagle Ford Shale rig count decreased by 21 to 211 rigs running across our coverage area by the end of last week. The U.S. rig count fell by 90 to 1543 rigs running by the end of last week. Read More

This is Randy Watson of the No Bull Radio Network reporting from the Eagle Ford. For more information visit us online at NoBullRadio.com

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Eagle Ford Minute Jan 19

Rig Count for Eagle Ford Drops for 7th Consecutive Week
by Randy Watson Email Randy

The US drilling rig count plunged 74 units—all on land—to settle at 1,676 rigs working during the week ending Jan. 16, Baker Hughes Inc. reported. That’s the lowest total since the Oct. 2010.

The count has now fallen in 7 consecutive weeks, during which time it has lost 244 units. The US has 101 fewer rigs compared with this week a year ago.

Land rigs have plummeted 134 units in the last 2 weeks to settle at a total of 1,610. Unchanged from a week ago were offshore rigs at 54 and rigs drilling in inland waters at 12.

Oils rigs this week dropped 55 units to 1,366. Gas rigs dropped 19 units to 310.

Horizontal drilling rigs plunged 48 units to 1,253. Directional drilling rigs dropped 8 units to 153.

North Dakota, reported the second-most losses, giving up 6 units to 156. Oklahoma dropped 5 units to 201. Wyoming and California each dropped 4 units to 47 and 18, respectively. New Mexico dropped 3 units to 92. West Virginia, Kansas, and Arkansas each dropped 2 units to 26, 24, and 11. Louisiana, Colorado, and Utah each edged down 1 unit to 107, 64, and 17, respectively. Unchanged from a week ago were Pennsylvania at 51 and Alaska at 11. More details

Fewer oil rigs are operating in the Eagle Ford Shale and the Permian Basin, Baker Hughes’ latest rig count data shows.

Friday’s figures show that the rig count in the Eagle Ford Shale fell from 197 active rigs to 185 rigs over the past week. Industry leaders are concerned that prolonged low prices of crude oil could impact revenue for exploration and production companies in San Antonio and throughout the country.

The Baker Hughes Rig Count, a weekly service of Houston-based Baker Hughes Inc. (NYSE: BHI), is a barometer of oil exploration and drilling activity. More Details

This is Randy Watson of the No Bull Radio Network reporting the Eagle Ford Minute from the 1280AM KMFR studio in Pearsall, Texas…


The No Bull Radio Network includes radio stations:
Kenedy Texas — KCAF 92.1 FM
Beeville Texas — KIBL 1490 AM
Dilley Texas — KVWG 95.3 FM
Pearsall Texas — KMFR 1280 AM
and visit us online at nobullradio.com

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Eagle Ford Minute Jan 9

US Steel Manufacturing Plant Idles and Boom-towns Await Layoffs

The collapse of oil prices in the past six months is threatening to end a recent industrial revival in manufacturing . The U.S. shale-drilling boom lifted Midwest manufacturing economies, enriched property owners with mineral rights and even brought back the fat blue-collar paychecks that once were harder to find. The U.S. Steel Corp. plant in Lorain, OH, which depends heavily on oil and gas companies to buy its steel pipe and tubes, warned on Monday it might have to idle the plant in March and lay off 614 of the plant’s 700 workers.

The Pittsburgh-based steelmaker, the second-biggest employer in Lorain after Mercy Regional Medical Center, had recently invested $95 million in a plant upgrade. When energy prices were high and orders robust, workers received generous overtime, sometimes pushing annual salaries into six figures. The impact of the energy industry here is so widespread that for some workers in Lorain, oil prices affect almost every facet of their lives, from home values to roads to jobs. Read More

Just two years ago, this Texas town known mostly for its annual rattlesnake roundup seemed to be on the brink of a transformation.

Expecting a huge influx of oil workers, Sweetwater Texas leaders spent tens of millions of dollars to improve the courthouse, build a new law-enforcement center and upgrade the hospital. Hotels, truck stops and housing subdivisions were to follow, all catering to truck drivers and roughnecks. Sweetwater envisioned becoming a major player in the hydraulic-fracturing boom.

But those ambitions are fading fast as the plummeting price of oil causes investors to pull back, cutting off the projects that were supposed to pay for a bright new future. Now the town of 11,000 awaits layoffs and budget cuts and defers its dreams. Devon, the largest leaseholder in the Cline, started letting its leases expire in September. Industry observers say what’s happening in the Cline signals a contraction in shale development nationwide. Read More

For more information visit nobullradio.com This is Randy Watson of the No Bull Radio Network reporting the Eagle Ford Minute from the KCAF 92.1 studio in Kenedy Texas.

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Eagle Ford Minute Dec 31

McMullen County Wells Report Higher H2S Gas Levels – Britain Oil Industry Cash Strapped – Lavaca Bay Floating LNG Plant Put on Hold

Eagle Ford Minute December 31
by Randy Watson Email Randy

McMullen County, TX includes some of the best development areas for the Eagle Ford Shale, but wells in the county have been found to yield higher concentrations of H2S gas compared to other areas.

According to experts, early Eagle Ford well results indicated the reservoir was a relatively sweet, yielding low concentrations of H2S gas, at less than one percent. Well results from some McMullen County wells, however, have yielded H2S gas concentrations greater than four percent. Read More

Britain’s oil and gas industry is running out of cash as low prices and high levels of debt threaten the sector, warns Company Watch. A third of Britain’s listed oil and gas companies are in danger of running out of working capital and even going bankrupt amid a slump in the value of crude, according to new research. Read More

Excelerate Energy’s Texan liquefied natural gas terminal plan has become the first victim of an oil price slump threatening the economics of U.S. LNG export projects. A halving in the oil price since June has upended assumptions by developers that cheap U.S. LNG would muscle into high-value Asian energy markets, which relied on oil prices staying high to make the U.S. supply affordable. The floating 8 million tonne per annum (mtpa) export plant moored at Lavaca Bay, Texas advanced by Houston-based Excelerate has been put on hold, according to regulatory filings obtained by Reuters.
Read more

For more information visit NoBullRadio.com … This is Randy Watson of the No Bull Radio Network reporting from the 1280 AM KMFR Radio Studio in Pearsall Texas wishing everyone a safe and hAPPY NEW YEAR as 2014 comes to a close and 2015 comes anew.

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Eagle Ford Minute Dec 29

Building Boom Continues in Pleasanton’s Eagle Ford Drive. Governor Elect Pledges Increase to TXDOT Road Budget

Eagle Ford Minute December 29
by Randy Watson Email Randy

Energy services giant Flint URS and oil-pump manufacturer Lufkin Industries are building brand new facilities along Pleasanton’s Eagle Ford Drive. The $6 million Lufkin Industries’ facility will consist of 35,000 square feet of office space, a 7,600 square-foot warehouse and a second 26,800 square foot warehouse. Construction on the 9,600-square-foot, two-story Flint URS facility also is expected to be finished in May. Read More

Texas Attorney General Greg Abbott made the pledge to put an additional $4 billion a year into Texas highways “without raising taxes, fees or tolls.” But the governor-elect’s tantalizing proposal may be illusory. Abbott likely will face the same uphill battle as Governor Perry in coming up with enough money to maintain and expand Texas’ road network, strained under the pressures of a growing population and a booming oil and gas industry _ and doing so without raising the gas tax or other fees or taxes, a given under the conservative Republican leadership of the Legislature. As the Legislature prepares to convene in a few weeks, generating anything close to Abbott’s goal for TxDOT could be a formidable challenge. Read More

For more information visit NoBullRadio.com … This is Randy Watson of the No Bull Radio Network, reporting the Eagle Ford Minute from our KMFR 1280 AM Radio Studio in Pearsall Texas.

 

 

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Eagle Ford Minute Dec 26

Eagle Ford Minute December 26
by Randy Watson Email Randy

Natural gas futures slumped below $3 per million British thermal units for the first time since 2012 on speculation that record production will overwhelm demand for the heating fuel. Futures have slid 29 percent this year. In the absence of extreme weather, rising production will leave inventories at an all-time high. U.S. gas production may climb 5.5 percent this year to a fourth consecutive record, government data show.

Low gas prices may eventually lead to provide some sort of floor by prompting power generators to switch from burning coal. In the meantime, we are going to see bears take over this market. Read More

opecMuch has been made of the oil price war theories lately, whether it is a direct competition between the United States and Saudi Arabia, or whether the two are in collusion to cripple the Iranian and Russian economies, there is another aspect to the current situation that is worth considering.

Should prices remain at current levels, the cartel could lose almost $400 billion in annual revenue by 2015, a 50% drop from 2013 levels. While several of the Arab member states have huge currency reserves to support their economies, this level of decline in revenue would be completely unsustainable for some of the more at-risk members of the cartel such as Iran, Nigeria, and Venezuela. Read more

For more information visit nobullradio.com This has been Randy Watson of the No Bull Radio Network reporting the Eagle Ford Minute from our KIBL 1490-AM Beeville studio location.


Tune in to the No Bull Radio Network or Live Stream at nobullradio.com:
Kenedy Texas — KCAF 92.1 FM
Beeville Texas — KIBL 1490 AM
Dilley Texas — KVWG 95.3 FM
Pearsall Texas — KMFR 1280 AM

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Eagle Ford Minute Dec 23

Eagle Ford Minute December 23
by Randy Watson Email Randy

Gas flaring in the Eagle Ford Shale oil field burned more than 20 billion cubic feet of natural gas and released tons of pollutants into the air in the first seven months of 2014. The amount exceeded the total waste and pollution from gas flaring for all of 2012. From January to July, energy companies flared and wasted enough natural gas to fuel San Antonio’s 800-megawatt Rio Nogales power plant during the same seven months. Read More

Due to low crude oil prices, Comstock Resources Inc., Frisco, Tex., plans to suspend its 2015 oil-directed drilling activity on properties in the Eagle Ford shale in Texas and Tuscaloosa Marine shale (TMS) in Mississippi. Comstock will instead target natural gas on its Haynesville shale natural gas properties in North Louisiana.

The company “believes that improved completion technology, including longer laterals, will provide strong returns on drilling projects at current natural gas prices.” Comstock has released its rig in the TMS and will postpone drilling activity in the area until oil prices improve. The company currently operates four rigs drilling on its Eagle Ford properties. Read More

Read more online at nobullradio.com … This is Randy Watson with the Eagle Ford Minute wishing everyone a Merry Christmas from the No Bull Radio Network.


Tune in to the No Bull Radio Network or Live Stream at nobullradio.com:
Kenedy Texas — KCAF 92.1 FM
Beeville Texas — KIBL 1490 AM
Dilley Texas — KVWG 95.3 FM
Pearsall Texas — KMFR 1280 AM

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Eagle Ford Minute Dec 19

Eagle Ford Minute for December 19
by Randy Watson Email Randy

fallingOil prices have plummeted 40% in the last six months, and that’s putting the kibosh on some new drilling across North American shale plays.

According to DrillingInfo.com, applications for new drilling permits in South Texas’ Eagle Ford Shale and North Dakota’s and Montana’s Bakken Shale fell approximately 30% in November of 2014 compared to the previous month. However, the Texas Railroad Commission reports a whopping 4,891 new drilling and re-enter permits in the Eagle Ford from Jan. – Oct. of this year, already surpassing the total for new drilling and re-enter permits in 2013 of 4,416.

The rig count in the Eagle Ford Shale has not dropped off yet, staying between roughly 260 – 270 rigs running across EagleFordShale.com’s 30-county coverage area per week since June of 2014. Read more

Hydraulic fracturing in the Eagle Ford Shale is adding water stress to a region where aquifers already are being overdrawn, according to a new report from the Mosbacher Institute at Texas A&M University. The report, released this week, looks at water use in the 26-county Eagle Ford. Fresh groundwater aquifers are overdrawn in the Eagle Ford by about 200,000 acre feet per year, or 2.5 times their recharge rate, according to the report. Read More

Oil prices have taken a dive, but production in the Eagle Ford Shale in South Texas – and other shale oil basins – will keep climbing in January. At least according to the U.S. Energy Information Administration. The Eagle Ford is likely to produce 1.685 million barrels daily of crude oil and the light oil known as condensate, according to the latest EIA report. It would be a gain of around 30,000 daily barrels over December production for the field. Read More

For more details visit nobullradio.com … This is Randy Watson at the 1280 KMFR Pearsall Studio of the No Bull Radio Network reporting the Eagle Ford Minute.

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Eagle Ford Minute Dec 16

The Eagle Ford Shale rig count decreased by one to 260 rigs running across our coverage area by the end of last week.

The U.S. rig count decreased by 27 to 1,893 rigs running by the end of last week. A total of 346 rigs were targeting natural gas (up 2 from the previous week) and 1,546 were targeting oil in the U.S. (29 less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.).  872 or ~48% of rigs active in the U.S. were running in Texas.

The natural gas rig count in the Eagle Ford stayed flat at 18 rigs running by the end of last week. While the oil rig count decreased by one to 242 rigs running by the end of last week. Read More

Via Gasbuddy.comWe are now seeing prices under $3 a gallon for the first time in four years, which also means that gas stations are paying less for the fuel, too. So you think you finally are getting one over on the gas stations as you pay well under $3 a gallon for the first time in four years? Guess again. Read More

Go to No Bull Radio dot com for more details. This is Randy Watson of the No Bull Radio Network for the Eagle Ford Minute.


Tune in to the No Bull Radio Network:
Kenedy Texas — KCAF 92.1 FM
Beeville Texas — KIBL 1490 AM
Dilley Texas — KVWG 95.3 FM
Pearsall Texas — KMFR 1280 AM

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