Tag Archives: oil

Major natural gas discovery off of South Africa coast

The French oil and gas company Total has made a major natural gas discovery off the coast of South Africa that could contain one billion barrels.

Total said it had made a significant gas condensate discovery after drilling its Brulpadda prospects on Block 11B/12B in the Outeniqua Basin.

“It is gas condensate and light oil. Mainly gas. There are four other prospects on the license that we have to drill; it could be around 1 billion barrels of total resources of gas and condensate,” [Chief Executive Patrick] Pouyanne said.

Big money here, which can change the balance of power in terms of fossil fuel energy resources.

Hat tip Max Hunt. I had missed this when it was announced on February 7.

Share

The meteoric rise in Texas oil production since 2010.

The meteoric rise in Texas oil production since 2010.

Amazingly, oil production in the Lone Star State has more than doubled in less than three years, from 1.142 million bpd in July 2010 to 2.295 million bpd in February 2013, which has to be one of the most significant increases in oil output ever recorded in the history of the US over such a short period of time. A million bpd increase in oil output in less than three years in one state is remarkable, and would have never been possible without the revolutionary drilling techniques that just recently started accessing vast oceans of Texas shale oil.

The article does not going into any detail about why this boom suddenly started in 2010. They indicate that it is linked to the development of new drilling techniques, but I’d like to know more.

Share

An Israeli company has discovered a giant off-shore oil and gas field within Israeli territorial waters.

An Israeli company has discovered a giant off-shore oil and gas field within Israeli territorial waters.

“The quantity of gas discovered in the licenses, and the high probabilities, make it the third largest offshore discovery to date,” according to Israel Opportunity chairman Ronny Halman, quoted by Globes. He added, ”This quantity guarantees Israel’s energy future for decades, and makes it possible to export Israeli gas, and boost the state’s revenues without worrying about gas reserves for domestic consumption.”

Share