A long, long time ago — or, more precisely, in the spring of 2014, when WTI was selling for more than $110/bbl — a handful of exploration and production companies were convinced they were onto something big in southwestern Mississippi and east-central Louisiana. There, they believed, the Tuscaloosa Marine Shale (TMS) was poised to become the next Bakken, the U.S.’s premier shale play at the time, but even better for producers seeking more robust crude prices because of TMS’s very low gas-to-oil ratio — an oil cut north of 92%! –– and proximity to Gulf Coast refineries. While there had been a host of failed efforts by producers to wring out large volumes of premium-priced Louisiana Light Sweet (LLS) oil from the marine shale’s sedimentary silts and clays, the E&Ps felt in their bones that they were finally “cracking the code.” Then, at just the wrong time, came an oil price crash that set the whole industry back on its heels and activity in the TMS quickly slowed to a crawl. As we discuss in today’s RBN blog, an even smaller cadre of Tuscaloosa Marine Shale true believers is now banking on a production revival in the core of the play.
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Daily energy Posts
Energy markets are red hot and are showing no signs of cooling off anytime soon. Natural gas prices have soared 20% to $ 4.615/MMbtu in just the last couple of weeks and could soon breach $5/MMBtu. In the NGL market, propane prices are up to $1.17/gal, the highest level for the month of September since 2011, with the possibility of shortages threatening domestic suppliers this winter. Even crude oil has continued to find support near the $70/bbl range, providing remarkable drilling and completion economics for well-positioned E&Ps. All these markets are data-intensive, and it can be a challenge to keep up with the most important developments. That’s what our ClusterX app is all about. It delivers to your phone or browser everything we believe is important as soon as the information hits RBN databases. And it is free! In today’s blog, we’ll look at some of the key capabilities of ClusterX, including a number of new features we’ve added. Warning: Today’s blog is a blatant advertorial for ClusterX.
Beginning in 2020 and so far through 2021, we at RBN have devoted a lot of our energy to covering the latest developments in environmental, social and governance (ESG) trends in the energy sector. That’s no accident – in fact, it’s been a necessity. As we recently discussed in Bullet the Blue Sky, environmentally focused initiatives have taken center-stage as society, investors, and governments demand higher standards from companies. The consequences to businesses that don’t heed the new paradigm could be dire for both their reputations and their pocketbooks. As a result, companies up and down the energy value chain have begun examining their operations to identify areas of improvement, particularly as it relates to their greenhouse gas (GHG) emissions. In today’s blog, we’ll focus on one of the most significant of GHGs – methane. We will look at what’s being done to monitor and address those emissions, and how companies may ultimately benefit by reining them in.