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Archive for the ‘energy’ Category

More information on the Jamaican farm-in opportunity

Posted in energy, Jamaica, Offshore Energy - General, tagged , , , , on April 21, 2023| Leave a Comment »

In addition to the details previously provided, some interesting insights from Envoi, agent for United Oil and Gas, follow:

  • Only 11 exploration wells have ever been drilled in the entire country (comprising an area of around 258,137 km2 including all the offshore areas), all between 1955 and 1982
  • Hydrocarbon shows were observed in all but one of these wells despite not having tested valid structures, as is evident on the latest data
  • Just 2 of the 11 wells were drilled offshore
  • Extensive onshore fieldwork and seep analysis studies have confirmed mature Eocene and Cretaceous oil-prone source rock potential, with migrated oil identified in onshore wells and outcrop samples. These include Late Cretaceous (Cenomanian-Turonian) aged organic shales exhibiting total organic carbon (TOC) up to 8% with maturity.
  • Modelling also suggests significant oil potential exists in mature Cretaceous source kitchens in both the Walton and Morant basins while shallower Palaeogene shales with TOCs up to 15% could also locally be deep enough to be mature.
  • An independent Prospective Resources Audit completed by Gaffney Cline & Associates in December 2020 estimates that just 11 of the total 21 prospects & leads defined to date contain a combined total unrisked mean prospective recoverable resources in excess of 2.4 Billion STOOIP (stock-tank oil initially in place). Of this, 406 MMbbls is attributable to the Colibri Prospect alone, with an upside of 966 MMbbls STOOIP.
  • United is offering a material interest and potential operatorship to suitably qualified parties in the license in return for a commitment to fund a well to test the Colibri Prospect before January 2026, which would fulfill the obligations for the current Second Exploration Period of the Licence.

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Nord Stream: interesting interview with ex-CIA officer Ray McGovern

Posted in energy, pipelines, Russia, tagged , , , , on April 10, 2023| Leave a Comment »

The Nord Stream discussion begins at the 21 minute mark, but the entire interview is interesting.

Also, Swedish prosecutor Mats Ljungqvist, is apparently unconvinced by the improbable Nord Stream explanation that was fed to the NY Times.

“We don’t rule out anything, but that it is a state actor who is directly or at least indirectly behind this is of course our absolute main scenario, given all the circumstances.”

Mats Ljungqvist

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EIA Energy Outlook 2023

Posted in energy, energy policy, natural gas, tagged , , , on March 17, 2023| Leave a Comment »

Yesterday, Lars Herbst attended the EIA’s Annual Energy Outlook presentation. The slides are attached.

Below is a custom chart from the EIA data tables. While EIA predicts growth in renewable generating capacity, US oil and gas production are nonetheless projected to increase slightly through 2050.

aeo2023_release_presentation-1Download

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Reality check for supermajors

Posted in climate, energy, Gulf of Mexico, Offshore Energy - General, Uncategorized, tagged , , on March 6, 2023| Leave a Comment »

“I am of a firm view that the world will need oil and gas for a long time to come,” (Shell Chief Executive) Sawan, who started the job on Jan. 1, told Times Radio in the U.K. on Friday. “As such, cutting oil and gas production is not healthy.”

Back in 2021, Shell predicted that its own oil production would decline every year and drop by as much as 18% by 2030. BP had a similar outlook, but CEO Bernard Looney rolled back its climate targets this year and said it will increase investment in exploration and production.

BP and Shell have trailed their U.S. peers in price to earnings ratios. Analysts have said investors interested in exposure to oil and gas have shunned them for putting more money into renewables, while investors focusing on environmental concerns haven’t rewarded them. That’s kept European energy firms trading at a discount.

Barron’s

It will never happen, but a separate company composed of BP and/or Shell upstream US assets would be very attractive to investors.

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Forbes 2022 In Review: The Year The Energy Transition Went Off The Rails

Posted in energy, energy policy, tagged , , , on December 27, 2022| Leave a Comment »

Nothing new or surprising, but an interesting read nonetheless.

All you need to know about how the vaunted ‘energy transition’ is going as 2022 comes to its merciful close is to read the headline of a Reuters story published last week: “Global coal consumption to reach all-time high this year – IEA”.

That isn’t how the narrative surrounding the energy transition assumed this would all be going in the year 2022. Certainly, it isn’t how IEA head Fatih Birol has wanted it to go, given his insistence that “more wind and solar” is the answer to seemingly every energy-related question.

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Washington Post: No conclusive evidence Russia is behind Nord Stream attack

Posted in energy, pipelines, tagged , , on December 21, 2022| Leave a Comment »

“There is no evidence at this point that Russia was behind the sabotage,” said one European official, echoing the assessment of 23 diplomatic and intelligence officials in nine countries interviewed in recent weeks.

Washington Post

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Who are these companies?

Posted in California, energy, Offshore Wind, tagged , , , , , on December 14, 2022| Leave a Comment »

Only Equinor is a familiar name to the offshore oil and gas industry, so here are some blurbs about the other high bidders.

California North Floating, LLC, is a subsidiary of Copenhagen Infrastructure Partners (CIP). Since entering the US offshore market in 2016, CIP has built a leading offshore wind position through its affiliate Vineyard Offshore. This includes Vineyard Wind 1, the country’s first commercial scale offshore wind project which is currently under construction, as well as two lease areas under development totaling approximately 5.0 GW off the coast of Massachusetts and New York.

Central California Offshore Wind is managed by an East Coast offshore wind energy company, Ocean Winds North America LLC, which formed a joint venture with the Canada Pension Plan Investment Board to win the lease. Ocean Winds has more than 10 years of experience in floating offshore wind, most notably through the development and operation of Windfloat Atlantic (offshore Portugal), the world’s first fully commercially operational floating offshore wind farm

Equinor, a Norwegian company, is a major international oil and gas producer, an important wind energy investor, and a leader in the development of floating wind turbine technology. Equinor operates the Hywind Tampen floating offshore wind farm which will supply power to Norwegian offshore oil and gas fields.

Invenergy and its affiliated companies develop, own, and operate large-scale renewable and other clean energy generation and storage facilities in the Americas, Europe and Asia. Invenergy’s home office is located in Chicago, and it has regional development offices in the United States, Canada, Mexico, Spain, Japan, Poland, and Scotland.

RWE Renewables has experience covering the offshore and onshore wind energy value chain from development to construction and operation. These activities are the responsibility of two functional units, “Unit Renewables Europe & Australia” and “Unit Offshore Wind”, as well as the subsidiary RWE Renewables Americas. RWE Renewables also invests in large-scale solar projects and supports power producers, plant operators and other stakeholders in the development, construction and operation of photovoltaic and solar energy plants as well as in the construction of battery storage systems. The focus is on large-scale industrial projects.

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Nord Stream: the EU agrees to better protect critical infrastructure, but ignores the elephant in the room

Posted in accidents, energy, Offshore Energy - General, pipelines, tagged , , , , on December 13, 2022| Leave a Comment »

Wer ist verantwortlich?

As reported by Tagespiegel, the EU states have agreed to better protect critical infrastructure. Yet apparently the status of the Nord Stream investigation(s) was not discussed. When will the findings be released? How and when will the responsible parties be identified?

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Ultradeep geothermal – It’s all about the drilling

Posted in drilling, energy, Uncategorized, tagged , , , on December 12, 2022| Leave a Comment »

The hype for ultradeep geothermal is building, as it should be given the intermittency and energy density issues that limit the potential of other renewable energy options. However, the ability to drill 20 km into the earth’s surface with millimeter, rock-melting waves has yet to be demonstrated.

Conventional drilling technology gets you through sedimentary formations to the hard basement rock that lies below. That is where gyrotrons will be expected to vaporize rock to depths needed to tap into unlimited 900+ deg F geothermal energy. But questions regarding gyrotron reliability, hole stability, and material removal. Quaise Energy is working with DOE’s Oak Ridge lab to resolve these issues. Field tests are expected over the next few years with initial energy production in 2026. This is all very exciting, but even conventional drilling is seldom routine, so complications should be expected.

Here’s a very good video:

Thomas Vogel, Getty images.
Gyrotron, Popular Mechanics, Encyclopedia Britannica

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Nord Stream explosives confirmed

Posted in energy, Offshore Energy - General, pipelines, Russia, tagged , , on November 18, 2022| Leave a Comment »

Sweden’s prosecutor’s office said Friday that an investigation into gas leaks from two underwater pipelines connecting Russia to Germany found traces of explosives, confirming that it is a case of “serious sabotage.”

CNBC

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