• If you are having problems logging in please use the Contact Us in the lower right hand corner of the forum page for assistance.

oil prices. gas prices.

littlejoe

Well-known member
as an aside, 1000 cubic feet of gas has about a million btu's in it.

when you see a co state their production, they'll quote "boe's"---barrels of energy. 6000 feet of gas = I barrel of oil, energy wise.

so--you get way more bang for your buck when buying energy if it's natural gas.

if looking at investing in energy producers, you want to know how much of their production is oil.

anyhow, I play this stuff kinda based on a statement by allen nation "if you think something is too expensive to buy, perhaps you should be selling it"

January 2014 Average Oil & Gas Prices

Brent - $107.17 with a high of $108.27 (Jan 22) and low of $106.23 (Jan 14).


2013 Average - $108.64


WTI - $94.88 with average spread of $12.29 off Brent - high of $98.23 (Jan 30) low of $91.45 (Jan 09).

2013 Average - $97.96 with a spread of -$10.67

Net Energy Sweet - $89.15 with average spread of $18.03 off Brent and $5.74 off WTI - high of $91.41 (Jan 29) and low of $86.26 (Jan 10).

Syncrude Sweet Blend Edmonton Spot* - $96.35 with average spread of $10.83 off Brent - high of $98.98 (Jan 30) and low of $94.03 (Jan 08).

2013 Average - $97.17 with a spread of -$11.49

Western Canada Select - $83.46 with average spread of $11.42 off WTI - high of $89.35 (Jan 30) and low of $78.66 (Jan 09).


2013 Average - $75.75 with a spread of -$22.15

Asia-Pacific Minas Spot* - $104.93 with average spread of $2.24 off Brent - high of $109.14 (Jan 02) and low of $103.42 (Jan 17).

2013 Average - $108.46 with a spread of -$0.21

Arabian Gulf Dubai Fateh Spot* - $104.02 with average spread of $3.15 off Brent - high of $107.54 (Jan 02) and low of $102.55 (Jan 15).

2013 Average - $105.36 with a spread of -$3.30

Henry Hub Spot - $4.69 with a high of $5.70 (Jan 27) and low of $3.95 (Jan 10).

Aeco Spot - $4.35 with average spread of $0.34 off Henry - a high of $5.04 (Jan 30) and low of $3.86 (Jan 10).

Aeco Near Month
- $4.34 with a high of $5.35 (Jan 31) and low of $3.86 (Jan 09).
Aeco 12 Month Strip - $4.13 with a high of $4.62 (Jan 29) and low of $3.81 (Jan 09).

Aeco 2015 Strip- $3.87 with a high of $4.02 (Jan 29) and low of $3.70 (Jan 09).
 
A

Anonymous

Guest
GE’s Waukesha plant working to put wasted natural gas to good use

Posted by: Lydia Gilbertson in Energy, Gas, Oil, Top Stories February 4, 2014 0 54 Views




By Guy Boulton

Roughly 1,500 oil wells in western North Dakota burn off natural gas, a byproduct rendered worthless because pipelines to gather the gas have yet to be built.

Some of that gas could power engines produced by General Electric Co. in Waukesha.

“Everywhere there is flaring, you should be sticking a Waukesha engine,” said Brian White, GE’s senior executive at the plant in Waukesha that makes the engines. “To me, it doesn’t make sense.”

GE is among the companies working to put that wasted energy to use. Almost all the initiatives, ranging from powering drilling rigs to micro liquefied natural gas plants, include the use of gas-powered engines.

But that is just one part of the potential markets created by the surge in natural gas production in recent years. When pipelines eventually are built to the oil wells in western North Dakota and other new fields throughout the world, GE’s Waukesha gas engines can compress and move that natural gas.

The GE factory that makes gas engines sold under the name of their hometown was the setting last week for a visit by President Barack Obama to promote job training. The choice of the venue for the president’s visit was not surprising.

The GE factory makes a high-tech industrial product sold throughout the world — and it pays the machinists, welders and assemblers on its factory floor middle-class wages.

The business also is growing, driven in part by the boom in oil and gas production from shale deposits throughout the United States and world.

The boom was set off by combining horizontal drilling and what is known as fracking — injecting water, sand and chemicals under high pressure to create small fractures that free trapped oil and gas.

“It has made a difference in our growth,” White said.

It also shows no signs of abating — and that bodes well for GE’s Waukesha gas engines.

The Waukesha gas engines plant, part of GE Power & Water, employs about 700 people, including about 100 people in engineering and about 400 in its factory.

Three years ago about 125 people worked at the factory.

GE — which had revenue of $147billion in 2012 — also has operations in Milwaukee, Wauwatosa and Madison, and employs more than 7,000 people in Wisconsin. That includes about 6,500 people who work for GE Healthcare.

GE’s Waukesha gas engines — formerly Waukesha Motor Co., founded in 1906 — became part of General Electric Co. in 2010, when GE bought Dresser Inc.

Dresser Industries — the precursor company acquired and later divested by Halliburton — bought Waukesha Motor in 1974.

The Waukesha plant makes gas engines ranging from 160 to 4,835 horsepower and that can sell for more than $1 million.

Roughly 47% of its engines are exported, and the company estimates that 25,000 of its engines are running throughout the world, a few since 1920.

The engines are used to drive compressors used in natural gas production, transmission and storage, to generate power in oil fields and for an array of industrial and utility applications.

GE’s Waukesha gas engines, for example, are used to generate electricity in the $20 million project just west of the Potawatomi Bingo Casino that converts food waste to biogas. The project will produce 2 megawatts of electricity — enough for about 1,500 homes — that will be sold to We Energies.

The bulk of GE’s Waukesha gas engines’ revenue — about 70% — comes from engines used for gas compression, White said. About 20% is from engines used to generate power in oil fields.

The engines are known for their durability, ability to run efficiently at high altitudes and fuel flexibility.

“We can run off of real dirty gas,” White said.

That includes unprocessed natural gas from oil wells that could be used to power drilling rigs.


Drilling rigs typically are powered by three diesel engines — a market dominated by Caterpillar. (The company also is GE’s biggest competitor in gas-powered engines.) GE estimates that oil and gas exploration companies can save $1.8 million a year by using field gas instead of diesel fuel

The engines initially can be powered by propane in a new field or if there is not a nearby well producing natural gas.

GE also estimates that converting drilling rigs from diesel fuel to natural gas reduces emissions by 95% — natural gas burns much cleaner — and reduces truck traffic on local roads.

Powering drilling rigs is just one promising market for GE’s Waukesha gas engines. The pipelines that eventually will be built to those new fields hold even more promise.

“Sooner or later, pipelines are going to come,”
said Anand Gnanamoorthy, a senior analyst who covers the natural gas processing industry for Frost & Sullivan. “Eventually, we see a big market.”

So, too, does the plant that makes GE’s Waukesha gas engines.

The exploration boom not only gives the business new markets to tap but also has driven down the price of natural gas.

The lower price — combined with fewer emissions — has increased the demand for natural gas.

“It is the fuel of the future,”
White said.


That isn’t expected to change any time soon — and it should make it a bit easier to sell gas-powered engines.


http://bakken.com/news/id/75088/ges-waukesha-plant-working-put-wasted-natural-gas-good-use/
 

Cowpuncher

Well-known member
The story of natural gas is a sad one of government piddling in the energy business.

Years ago when I worked for a major oil company, we drilled quite a few exploratory wells. If we found only gas, the well was usually shut in and we paid minimum royalties to keep the lease, Why?

Real simple. The government (Natural Gas Regulatory Commission) had a cap on natural gas prices at 14 cents/mcf. No one would build a pipeline to transport the gas to market. All over Texas, gas produced from wellsl with oil was flared just toget rid of it.

When we converted gas production for financial reporting purposes, we dvided the average price of oil by the averge price of gas and used a ration of about 20 mcf equalling one barrel of oil. The energy equivalent of about six to one came about many years later.

If you want something really fouled up, just get the government to help.

CP
 

Mike

Well-known member
Using unprocessed natural methane gas is hardly a new phenomenon. When I lived in Barrow, Ak in the late 60's/early 70's, we used raw natural gas for heating & electrical generation from gas wells drilled by the Navy back in the 40's.

There was no charge for that gas back then.
 

TexasBred

Well-known member
littlejoe said:
as an aside, 1000 cubic feet of gas has about a million btu's in it.

when you see a co state their production, they'll quote "boe's"---barrels of energy. 6000 feet of gas = I barrel of oil, energy wise.

so--you get way more bang for your buck when buying energy if it's natural gas.

if looking at investing in energy producers, you want to know how much of their production is oil.

anyhow, I play this stuff kinda based on a statement by allen nation "if you think something is too expensive to buy, perhaps you should be selling it"

You have to own it before you can sell it.
 
A

Anonymous

Guest
Two Bakken pipeline proposals fail because of lack of interest

Posted by: Lydia Gilbertson in Bakken News, North Dakota News, Oil, Top Stories February 5, 2014 0 93 Views




By: Amy Dalrymple, Forum News Service, INFORUM

WILLISTON, N.D. – North Dakota officials have been touting pipelines as a way to reduce truck traffic and more safely ship oil to refineries, but two major Bakken pipeline proposals failed to move forward because of a lack of interest from shippers.

Koch Pipeline Co. proposed the Dakota Express Pipeline to transport Bakken crude from western North Dakota to Illinois. It was expected to begin service in 2016 with an initial capacity of 250,000 barrels per day.

After conducting an “open season,” in which the pipeline company gauges interest from the industry, Koch recently abandoned its plan for the project.

“The Dakota Express project is no longer being pursued due to insufficient shipper interest,” said Jake Reint, director of public affairs for Koch Pipeline Co.


Reint declined to comment further.

Similarly, ONEOK Partners did not get sufficient long-term commitments for the Bakken Crude Express Pipeline proposed in 2012. The project would have transported up to 200,000 barrels per day from North Dakota to Cushing, Okla.

“At that time, rail was, and still is continuing to be, the viable option,” ONEOK spokesman Brad Borrer said Tuesday, adding that the company is still making significant natural gas investments in the Williston Basin.

Each project had more than double the capacity for Bakken crude than the Keystone XL Pipeline, which North Dakota’s congressional leaders continue to urge President Barack Obama to approve. The Keystone XL would have the capacity for 100,000 barrels a day of Bakken crude from a terminal in Baker, Mont. TransCanada Corp. has firm commitments for up to 65,000 barrels a day, according to a U.S. State Department report released last week.

Justin Kringstad, director of the North Dakota Pipeline Authority, said the timing of the Koch and ONEOK projects, uncertainty of the market and the flexibility rail offers shippers likely contributed to those projects being abandoned.

Sandy Fielden, managing director of energy analytics at consultant firm RBN Energy, said it may take at least three or four years for the market to adjust to the new production of light crude oil in the U.S. and for the price volatility to settle down.

“Over time, pipelines will get built where there is a consistent flow of crude,” Fielden said.

Shipping by rail often requires a one-year commitment and shippers can direct oil to where it will get the highest price, while pipelines typically require a 10-year commitment, Fielden said.

In addition to competition from rail, another challenge for the Koch project was competition with Enbridge’s proposed Sandpiper Pipeline, Fielden said.

Enbridge announced last November that Marathon Petroleum Corp. agreed to partner on the $2.6 billion project, agreeing to pay 37.5 percent of the project cost in exchange for a 27 percent interest in the company’s North Dakota system.

Sandpiper, which would bring Bakken crude to refineries in the U.S. and eastern Canada, is expected to have an initial capacity of 225,000 barrels per day to Clearbrook, Minn., and 375,000 barrels per day to Superior, Wis.

The North Dakota Public Service Commission will hold hearings on the application later this month.

Original Article
http://bakken.com/news/id/75418/two-bakken-pipeline-proposals-fail-lack-interest/
 

Big Muddy rancher

Well-known member
Mike said:
Using unprocessed natural methane gas is hardly a new phenomenon. When I lived in Barrow, Ak in the late 60's/early 70's, we used raw natural gas for heating & electrical generation from gas wells drilled by the Navy back in the 40's.

There was no charge for that gas back then.

Norway doesn't allow flaring of wells. They can't be put into production until the can pipe the Natural gas away and into the system.

Might be a good idea when you seen the moon shot of of North America and see the lights of ND. :?

When I was a kid I was at Brooks Alberta and the auction market used their own well and captured Natural gas for heating.
 
A

Anonymous

Guest
Salazar: Build Keystone XL Oil Pipeline
Thursday, February 6th 2014

WASHINGTON (AP) — Former Interior Secretary Ken Salazar says he believes the Keystone XL oil pipeline from Canada should be built.

Salazar said at an energy conference in Houston Wednesday that the pipeline could be built safely, as long as conditions are imposed. Those conditions would require the pipeline operator to meet tough environmental standards and even pay for conservation programs along the pipeline route.

Salazar told The Associated Press that the pipeline could be a "win-win" project that benefits U.S. energy security while boosting conservation efforts in Montana, the Dakotas and other affected states.

Salazar's comments follow a State Department report last week that raised no major environmental objections to the $7 billion pipeline. The pipeline would carry oil from western Canada to refineries along the Texas Gulf Coast.
 
Top