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Chevron leveraging information technology to optimize thermal production of heavy oil with increased recovery and reduced costs

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Chevron’s focus on optimizing the thermal management of the Kern River field has resulted in a steady drop in the steam:oil ratio (barrels steam water per barrel oil), resulting in improved economics of the field even with slowly declining production. Source: Chevron. Here, Chevron has reduced its steam:oil ratio (i.e.,

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Opinion: Why oil prices must go up

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It may be difficult to look beyond the current pricing environment for oil, but the depletion of low-cost reserves and the increasing inability to find major new discoveries ensures a future of expensive oil. Despite record levels of spending, the largest oil companies are struggling to replace their depleted reserves.

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GlobalData: best performing wells in Permian break-even at as low as US$22 per barrel

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A GlobalData analysis of recent wells for 26 operators in the Permian basin indicates a break-even oil price range from US$21 to US$48 per barrel with lateral lengths ranging from 4,500 ft to 10,500 ft. On 25 June, the price of a 42-gallon barrel of West Texas Intermediate Crude (WTI) was $68.08.

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$67 Oil Has All The Majors Converging in Argentina

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Argentina offers one of the few places on earth where oil companies are not suffering from the full force of the collapse in prices. Argentina regulates oil prices, a policy originally intended to insulate the public from the whims of the market, protecting people from triple-digit crude prices.

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Cascadia Capital forecasts flurry of MA and commercialization in clean tech in 2011; US Congress to discard Cap and Trade

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energy sector will spur a flurry of M&A and investment activity in 2011 as renewable energy. Sustainable Industries Predictions for 2011 include: Cap and Trade Discarded by Congress in National Energy Policy. A national energy policy is a top priority that crosses party lines given its importance to.

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Report finds Coal-to-Liquids and Oil Shale pose significant financial and environmental risks to investors

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The report comes as oil majors like ExxonMobil, Chevron and Shell, and other companies, are developing at least a couple dozen oil shale and CTL projects, including 12 CTL facilities projected to produce 170 million barrels of liquid fuels per year at a cost of $2 billion to $7 billion per plant.

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More Job Losses Coming To US Shale

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With the recently concluded nuclear deal between Iran and the P5+1 countries, oil prices have already started heading downward on sentiments that Iran’s crude oil supply would further contribute to the already rising global supply glut. But with rising negative sentiment pertaining to oil prices, is U.S.