Propell Places First Commercial Order for Next Generation Plasma Pulse Tools

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We’ve completed field testing of our new, U.S. made wireline applied plasma pulse tool and have ordered our first commercial shipment of seven tools. Improvements include a topside power supply that allows a smaller footprint inside wireline trucks, a more narrow 3.5″ diameter that will fit 4.5″ diameter wells and the tool is compatible with […]

Is ‘Peak Oil’ Coming?

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In 1956, M. King Hubbert’s “Peak Oil” theory originally predicted global oil production would peak in 1970 and fall off at the same rate as it grew. In 1969, Hubbert revised his theory and changed the year of the peak to 2000. According to this Earth Policy institute report, world oil production was 48.06 million […]

EPA Releases Controversial Fracking Study

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Last week, the U.S. Environmental Protection Agency released a draft of its findings from a five year study of the impacts of fracking on drinking water. The EPA asserts they found no “widespread, systemic impacts on drinking water resources” due to fracking. In the same study, the EPA also says: “There are above- and below-ground […]

Impact of OPEC Not Cutting Oil Production

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Today, OPEC nations met, and as widely expected, agreed to maintain current oil output target levels at 30 million barrels per day. The immediate impact was a slight rise in Brent crude price after a two-day losing streak. The longer term impact is what’s more interesting. OPEC Feeling Some “Shale-Shock” With oil prices having rebounded […]

OPEC to Maintain Focus on Market Share?

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OPEC nations are scheduled to meet on June 5th, and many expect them to maintain current oil production levels. Since last November, OPEC has promised a production ceiling of 30 million barrels a day, but it recently produced 30.93 million barrels a day in April. Saudi Arabia, the largest OPEC producer, produced over 10 million […]