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    The Permian Basin Produces Gas, Too

    This report by EPRINC Non-Resident Fellow Trisha Curtis is part of the Energy Policy Research Foundation’s multi-year research program evaluating the scale and scope of the North American petroleum renaissance. As U.S. producers expand production to meet domestic requirements and the rapidly growing market for pipeline exports and Liquefied Natural Gas (LNG), it is essential that policy makers have a full understanding of the sustainability of the U.S. natural gas production platform. This report addresses the range of challenges and opportunities for expanding U.S. production of natural gas for both domestic uses and export markets through an in depth look at North America’s most prolific oil and gas basin, the Permian. The report can be found here.

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    Hedging Haircuts and Big Basis Moves

    EPRINC trustee Ben Montalbano and non-Resident Fellow Trisha Curtis, both co-founders of PetroNerds, have just completed an assessment of oil hedging positions of 25 major oil producers in the Permian Basin.  Hedging is a valuable tool for distributing risk and allowing producers to protect revenue streams from price volatility. Hedges protect producers revenues when oil prices fall, but also limit gains when prices rise.  In addition, when oil prices rise it may limit the supply response if a large volume of unconventional production is hedged. Ben and Trisha’s assessment shows the percent of total production that producers hedge varies, but heading into Q1of 2018 producers hedged about 20% of total output. A copy of their assessment can be found here.

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    Advances in Well Completion Design Sustain Advances in Shale Oil Productivity

    EPRINC Non-Resident Fellow Trisha Curtis and Trustee Ben Montalbano build on some of their previous work concerning US shale productivity in their recent paper entitled “Completion Design and the Impact on US Shale Well Productivity.”They identify the factors contributing to sustained productivity growth in several US shale plays and examine some of the economic constraints facing well efficiency. As the nation adjusts to relatively stable and depressed oil and gas prices, Trisha and Ben’s paper outlines the current industry environment and highlights future challenges to increasing shale productivity. Their paper can be downloaded by clicking here.

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    EPRINC’s Max Pyziur Presents at the annual Energy Information Administration (EIA) Conference
    Max takes us through the role octane has played to meet both engine performance requirements as well as its growing role as a strategy to meet the regulatory requirements of Corporate Average Fuel Economy (CAFE) standards.  As is always the case when it comes to fuel specifications and engine performance, it is complicated. Max outlines the historical trends and the trade-offs ahead.  The event took place on June 26, 2017 in Washington, DC. The presentation can be found here.
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    EPRINC Publication on Mexico in the Forum, Oxford Institute of Energy Studies
    An EPRINC assessment on US energy trade with Mexico was recently published in the Forum, A quarterly journal for debating energy issues and policies  from the Oxford Institute of Energy Studies. This issue of the journal from June 2017 is entirely dedicated to energy developments in Mexico.  The piece by Lucian Pugliaresi is on the growing importance to the United States of energy trade with Mexico and our southern neighbor’s contribution  to an  integrated North American petroleum production  platform.  The article begins on page 44 and the recent edition of Forum can be found here.
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On the Loss of John Lichtblau and Robert Greco

On a very sad note EPRINC recently lost two colleagues. Our former Chairman and current honorary Chairman, John Lichtblau, passed away on May 29, 2017. He was 94 years old.  On May 17, 2017 we lost Bob Greco, an EPRINC Distinguished Fellow. Bob was 57 years old.

We’ve known both of these good men for more years than we can recall and we will miss much more than their good counsel. We will miss their intellectual curiosity, optimism and close friendship.

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Shale Well Productivity Assessment
Trisha Curtis, Non Resident Fellow at EPRINC, recently authored an assessment of US shale well productivity, published by our good friends at the Oxford Institute for Energy Studies.  Improvements in shale well productivity will be the driving force behind the sustainability of the North American petroleum renaissance and Trisha’s work in this area is substantially lifting our understanding of these important trends.  You can download a copy of Trisha’s full report here.

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U.S. Natural Gas Outlook
Lucian Pugliaresi presents at the the 3rd Annual London Gas & LNG Forum on September 26 and 27, 2016 at the RAG Army & Navy Club on the resiliency of the US natural gas resource base. A copy of his presentation can be downloaded here.  

 

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