PEAK OIL NEWS AND MESSAGE BOARDS


REUTERS: U.S. OIL PRODUCTION IS PROBABLY PEAKING RIGHT NOW

"U.S. crude production will peak this month, according to revised forecasts published by the country's Energy Information Administration (EIA). Output will average 9.37 million barrels per day (bpd) in April and the same in May before falling to 9.33 million bpd in June and 9.04 million bpd by September, the EIA predicted in the April edition of its Short-Term Energy Outlook (STEO) [...] Baker Hughes reported there were 802 rigs drilling for oil last week, down exactly 50 percent since early October. It is unlikely a halving of the rig count can be completely offset by greater target selectivity and other efficiency improvements such as employing only the most powerful rigs, drilling longer laterals and reaching target depth faster. Drilling data points to a strong probability that production from new wells will soon start to fall - if it is not falling already. Given the rapid declines in output from wells drilled in 2013 and 2014, total output from new and legacy wells should start to fall soon [....] If the rig count has fallen by 50 percent, why is output still rising? The simple answer: there is a delay of six months or more between changes in the number of new wells being drilled and reported changes in production. It can take 20-30 days for a rig to drill a new well and then another 60 days or more for the well to be fractured and all the above-ground equipment put in place before the well flows its first oil [....] Rig counts are a leading indicator of future production trends, while production reports are a lagging indicator. Trying to predict future production based on current production reports is like attempting to drive by looking in the rear-view mirror [...] But by the time the production peak becomes visible, output will likely have been falling for several months."

Zum Artikel von John Kemp, erschienen auf Reuters (8. April 2015) »

SHALE COMPANY DEFAULTS ON $175 MM IN BONDS WITHOUT MAKING A SINGLE INTEREST PAYMENT

"According to a Bloomberg report, the Colorado oil producer, whose stock is now trading at a very sub-eagle $0.20, or about $6MM in market cap (the stock was at $6.00 when the Seeking Alpha report came out) has announced it will not make even one coupon payment on its bonds issued less than seven months ago [...] And instead of fulfilling its naive bondholders dreams that they will collect an 11% annual coupon for the next 5 years and then get repaid in full, the company hired bankruptcy advisers, Canaccord Genuity and Seaport, to negotiate a restructuring plan with the bondholders [...] And since the company won't have any cash to repay anyone, the bondholders will end up with the equity, the problem is that this is equity in a company which even post restructuring, will be unviable absent oil returning back to the $80+ ballpark [...] What is perhaps most odd is that American Eagle Energy actually had downside oil hedges: the only problem, they were not nearly enough!"

Zum Artikel von 'Tyler Durden', erschienen auf ZeroHedge (5. März 2015) »

UNITED STATES WILL NOT BECOME THE 'NEW SAUDI ARABIA' OF GLOBAL ENERGY

"The United States will never be a major oil exporter. Their import needs are getting less but the US is not becoming Saudi Arabia. Their production growth is good to diversify the market but it will not solve the world's oil problems."

Zu den Aussagen vom neuen IEA-Direktor Dr. Fatih Birol, erschienen in The Telegraph (26. Februar 2015) »

Zu Kommentar von Andy Tully, erschienen auf OilPrice (1. März 2015) »

JOHANN MAYR - ÖL INS FEUER GIESSEN

Dies ist der elfte Cartoon des Künstlers Johann Mayr rund um das Thema Erdöl, den wir unseren Lesern exklusiv auf ASPO-Deutschland vorstellen möchten. 

Auf ASPO-Deutschland mit freundlicher Genehmigung von Johann Mayr veröffentlicht.

https://lh5.googleusercontent.com/-38KMRA3jIvk/VOxihc5PPMI/AAAAAAAADs0/Zgh8up_9tgg/w3573-h2452-no/Johann%2BMayr%2B-%2BOel%2Bins%2BFeuer%2Bgiessen.jpg
Copyright: Johann Mayr, Jetzendorf, 2015.

Link zum elften ASPO-Cartoon "Öl ins Feuer gießen" von Johann Mayr in voller Auflösung »

Link zum zehnten ASPO-Cartoon "Bei den Spritpreisen zu Hause Weihnachten feiern?" von Johann Mayr in voller Auflösung » 

Link zum neunten ASPO-Cartoon "Ihr Auto steht für Sie im Stau" von Johann Mayr in voller Auflösung »

Link zum achten ASPO-Cartoon "Verbrauchen geht schneller" von Johann Mayr in voller Auflösung »

Link zum siebten ASPO-Cartoon "Sie fangen an zu fracken!" von Johann Mayr in voller Auflösung »

Link zum sechsten ASPO-Cartoon "Kein Schulbus mehr!" von Johann Mayr in voller Auflösung »

Link zum fünften ASPO-Cartoon "Sie werden uns befreien" von Johann Mayr in voller Auflösung »

Link zum vierten ASPO-Cartoon "Essig im Salat" von Johann Mayr in voller Auflösung »

Link zum dritten ASPO-Cartoon "Reisebeschreibungen aus fossiler Zeit" von Johann Mayr in voller Auflösung »



THE ENTIRE OIL COLLAPSE IS ALL ABOUT CRUSHING RUSSIAN CONTROL OVER SYRIA

"Said otherwise, the pound of flesh demanded by Saudi Arabia to "bless" US airstrikes and make them appear as an act of some coalition, is the removal of the Assad regime. Why? So that, as we also explained last year, the holdings of the great Qatar natural gas fields can finally make their way onward to Europe, which incidentally is also America's desire - what better way to punish Putin for his recent actions than by crushing the main leverage the Kremlin has over Europe? [...] While we understand if Saudi Arabia is employing a dumping strategy to punish the Kremlin as per the "deal" with Obama's White House, very soon there will be a very vocal, very insolvent and very domestic shale community demanding answers from the Obama administration, as once again the "costs" meant to punish Russia end up crippling the only truly viable industry under the current presidency. As a reminder, the last time Obama threatened Russia with "costs", he sent Europe into a triple-dip recession. It would truly be the crowning achievement of Obama's career if, amazingly, he manages to bankrupt the US shale "miracle" next [...] It was conspiratorial, that is, until today, when thanks to the far less "tinfoil" NYT one more conspiracy theory becomes conspiracy fact, following a report that 'Saudi Arabia has been trying to pressure President Vladimir V. Putin of Russia to abandon his support for President Bashar al-Assad of Syria, using its dominance of the global oil markets at a time when the Russian government is reeling from the effects of plummeting oil prices' [...] Actually that's not it: Syria, as we have been explaining for nearly two years is the critical transit zone of a proposed natural gas pipeline, originating in Qatar, and one which would terminate somewhere in central Europe. The same Qatar which was the "mystery sponsor of weapons and money to Syrian mercenary rebels" who eventually became ISIS. The same Qatar which is now directly funding ISIS. Of course, if Putin were to handover Syria to the Saudi princes (and to Qatar), he would effectively shoot himself in the foot by ending any leverage Gazprom has over Europe [...] And that, ladies and gentlemen, is what the great oil collapse of 2014/2015 is all about."

Zum Artikel von 'Tyler Durden', erschienen auf ZeroHedge (4. Februar 2015) »

http://www.zerohedge.com/news/2015-02-03/another-conspiracy-theory-becomes-fact-entire-oil-collapse-all-about-crushing-russia
Cornellrockey // Public Domain

THE PROS AND CONS OF FRACKING

Pros
  • Blasts tens of thousands of gallons of chemicals deep underground, out of harm’s way
  • Prompts important conversation about whether or not people have a right to clean water
  • Fact that shale well blowout could happen at any moment emphasizes ephemeral beauty of life
Cons
  • Dilutes perfectly good chemicals
  • Class action lawsuits always take forever and are super boring
  • Fewer excuses to spend time with oil-rich dictatorships

Zur Satire auf THE ONION (29. Januar 2015) »