Florida Proposes Statewide Fracking Regulations

florida-legislators

While Florida is not known as a large oil producing state, it’s legacy of oil production dates back to 1943 with peak production topping out at 48 million barrels in 1978. Production has declined over the years to 2.2 million barrels last year, but the 161 active oil and gas wells are receiving new attention […]

U.S. Oil Export Ban Unlikely To Be Lifted Anytime Soon

oil-tanker

With domestic oil stores swelling, it’s unlikely the ban on U.S. oil exports will be lifted anytime soon. While oil executives are calling for a lift on the ban, two primary reasons contribute to the lack of change: 1) U.S. politicians don’t want to be blamed for any rise in gasoline prices resulting from lifting […]

Boosting Oil Production Without Drilling New Wells

workover-rig-opt

Looking at recent reporting from oil field services companies, there’s been a trend for more workovers and recompletions compared to drilling new wells. This represents a re-allocation of budget to increasing production from proven assets in the wake of uncertainty surrounding current oil prices. Workovers occur when a company services an existing wellbore to clean […]