Seismic Program Commenced at President Energy's Paraguay Ops

President Energy plc announced that seismic acquisition has commenced at its concessions in the Chaco region of Paraguay.

Approximately 301 square miles (780 square kilometers) of 3D seismic and 62 miles (100 kilometers) of 2D seismic will be acquired over high-graded areas of the Pirity and Demattei Concessions respectively. 

Approximately two hundred people are being deployed in the seismic operations by President's seismic partner, Global Geophysical Inc. of Houston, Texas. Global will provide a full suite of data acquisition, data processing, interpretation and reservoir risk reduction tools, as well as passive microseismic monitoring using their proprietary Tomographic Fracture Imaging technology.

This is the first 3D survey to be shot in Paraguay and the first comprehensive and concentrated modern seismic survey to be undertaken in the prospective Pirity Basin of the Paraguayan Chaco. In line with original timetable, the seismic survey will be completed by the end of August with initial results being available during the latter part of Q4 2013.

Now that the operational phase of seismic acquisition has begun, President's next focus is to plan the drilling phase for the initial three exploration wells in 2014, a program which will follow review of the seismic results and the high grading of drilling locations.

Peter Levine, Chairman, President Energy commented:

"We have now commenced material activity in a program which is of national importance and priority to Paraguay, which currently imports all its oil requirements.

"We look forward to the successful completion of the seismic survey, a first of its kind for the country, and look forward to results later in the year."

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Fracking Commences at President Energy's Argentina Concessions

President Energy PLC announced that fracking operations have commenced at its Puesto Guardian concession in Argentina.

The work-over rig is now in location having previously been delayed due to bad weather and upgrading. Work-over operations have started on a first phase three well program as a necessary prelude to fracking equipment arriving on site. Work-over and fracking will operate in tandem with the first results now expected in early June.

The three wells subject to the first phase are in order of operation: Wells PE7 and PE8 at the Pozo Escondido Field and Well DP1001 at the Dos Puntitas Field.

Wells PE7 and PE8 have both been shut in for some 20 years and previously successfully produced from the A6 sands whilst showing unrecovered oil from the Carbonates above. Both show original pressure and are not near water. While the forthcoming fracking operations will be centered on the unproduced oil in the Carbonates it can also be expected to propagate into the previous prolific A6 sands. 

DP1001 is a relatively new well producing circa 80bopd free flow from both the A6 sands and the higher Carbonate interval. The frac will target primarily this Carbonate interval of some 82 feet (25 meters).

The commencement of the fracking campaign follows the previously announced results from the 3D seismic survey recently carried out. Following this survey management estimated that at Pozo Escondido, an increase in stock tank oil initially in place (STOIIP) of 215 percent from 20 to 63 million barrels. At the Dos Puntitas field, the reprocessing has validated the existing STOIIP of 15 million barrels and six undrilled highs have been identified.

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BP Names New BP America Chairman, President

John Mingé has been appointed chairman and president of BP America, Inc. and will serve as BP’s chief representative in the United States. He will succeed Lamar McKay, who has been appointed to head BP’s Upstream business.

"John Mingé has done a superb job in Alaska, where he has led the way in enhancing safety and making BP Alaska a stronger business,” McKay said. "His background prepares him well for the challenges of representing BP in the U.S., which is home to our largest and most diverse portfolio of businesses anywhere in the world."

Mingé has led BP Alaska since January 2009, where he is responsible for BP's oil and gas exploration, development and production activities in Alaska, as well as its interests in the Trans-Alaska oil pipeline.

Under his leadership, BP Alaska successfully tested innovative enhanced oil recovery technologies, such as Bright Water and LoSal, which are now used by BP around the globe. In 2012, BP Alaska achieved the lowest recordable incident rate in its history, with a 50 percent reduction from 2009.

During his nearly 30 year career with BP, Mingé has held a variety of executive and engineering posts around the globe. These include assignments as president of BP Indonesia, head of BP’s Asia Pacific Unit, and president of exploration and production for Vietnam and China.

He started his BP career in the Gulf of Mexico as a drilling engineer and he holds a Bachelor of Science degree in mechanical engineering from Washington State University.

Mingé will take on his new role on Feb. 15, 2013 and will be based in Houston, where BP business units are involved in oil and gas exploration and production, refining, chemicals, supply and trading, pipeline operations, shipping, and alternative energy.

The U.S. is home to the largest concentration of BP employees in the world, more than 23,000, and its business activities support an estimated 210,000 more American jobs. BP’s capital investments in the U.S. over the past five years exceed $52 billion, more than any other company and more than BP invests in any other country.

BP also named Minge's successor, Janet Weiss, as Regional President of BP Alaska, effective Feb. 15.

"BP’s history in Alaska stretches back more than five decades and it is one of the largest and most important businesses in BP’s global portfolio," Mingé said. "Having spent 18 of her 27 years in the industry in Alaska, I am confident that Janet Weiss’ background and experience are what BP Alaska needs to continue thriving as a major global energy producer."

Weiss serves currently in Alaska as Regional Vice President, Resources, accountable for resource progression and subsurface activities, as well as for IT. In her new role, she will be responsible for BP's oil and gas exploration, development and production activities in Alaska, as well as its interests in the Trans-Alaska oil pipeline. She will continue to be based in Anchorage. Ms. Weiss has held engineering and executive posts in both Alaska and in the Lower 48.

Beginning her career in Alaska in 1986, she has worked there as a process engineer, reservoir engineer, petroleum engineer, and reservoir engineering advisor. Her executive appointments include VP of Special Projects for BP Exploration & Production and VP for Unconventional Gas Technology. She has also led BP’s Western Wyoming businesses and Base Operations for the Gulf of Mexico Shelf.

Weiss holds a Bachelor of Science degree in Chemical Engineering from Oklahoma State University. "BP Alaska is home to some of the most capable people in the industry and I am honored to be asked to lead them," Weiss said. "I’ve seen first-hand what they can achieve in even the most challenging of environments."

BP is one of Alaska’s leading investors, taxpayers and employers, with more than 2,200 employees and over 6,000 contractors. The company operates four fields on the North Slope, including Greater Prudhoe Bay, which together account for about two-thirds of the state’s oil production.

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Declare War On Climate Change. We demand President Obama and Congress accept Climate Change as an enemy of the people.

Sorry, I could not read the content fromt this page.

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Mr. President, Approve This Pipeline

Fox News reports that EPA’s Region 6 administrator has apologized for comparing his agency’s enforcement strategy to Roman crucifixion. Of course, the 2010 remarks by EPA’s Al Armendariz, were captured on video, which you can see here.

Despite Armendariz’s apology, U.S. Sen. Jim Inhofe of Oklahoma, which is in the EPA region that Armendariz administers, is investigating. Inhofe said the crucifixion comments suggest a campaign of “threats” and “intimidation.”

Certainly, one poorly chosen analogy from a single regional administrator doesn’t indict an entire agency – though it’s concerning that this fellow, with his apparent zest for enforcement, has had oversight for the energy-rich Eagle Ford and Barnett shale areas of Texas. Talk about a chilling effect.

We hope that Armendariz’s a... more »

Interior Secretary Ken Salazar talked about a divide in America between the “real energy world and the imagined energy world” during a speech Tuesday in Washington. He’s got that right – but it’s not like the administration is on the right side of that divide. Consider:

It dismisses calls for increased access, saying it takes years to develop oil and natural gas resources, and then takes credit for increased production.It says it wants more oil and natural gas when in reality its policies set back production in the all-important Gulf of Mexico and on federal western lands.It says 75 percent of America’s offshore resources are open for development when in reality 87 percent of areas are off-limits.It says oil and natural gas are the energy of the past even though they... more »

Rounding up some of the latest rhetoric by Keystone XL pipeline opponents – separating fact from fiction (and utter fantasy) – while striving for an informed energy discussion. It’s not easy.

Let’s start with a great big fact:

The U.S. Energy Information Agency (EIA) reports that oil and natural gas supply 62 percent of the energy we currently use. In 2035, EIA says oil and gas still will supply about 60 percent of the energy we use.

That’s the energy reality, according to the government. We run our economy and our lives on oil and natural gas. It’s the energy of today and tomorrow. Yes, America will need all energy sources in the years to come, but any notion that we can embark on an “off-oil” strategy without severe economic and social repercussions is uninformed, disingenuou... more »

During a recent conference call with reporters API Chief Economist John Felmy said the country is at a “crossroads of energy and economic policy.” That’s quite a crossroads. Chad Moutray, chief economist at the National Association of Manufacturers, pointed out that manufacturing has added 462,000 net new jobs since 2010, and that continued growth hinges on energy and regulatory policy. So, where do we stand?

The administration’s energy policy is a muddle, as IPAA President and CEO Barry Russell argues in this Roll Call piece:

“Obama calls to expedite infrastructure projects, but in the wake of rejecting the Keystone XL pipeline. Obama claims increased oil and natural gas production on his watch, but then follows up with accusations that oil companies are profiting at the expense... more »

In response to a question about the Keystone XL pipeline back in January, White House Press Secretary Jay Carney told reporters: “[I]t is a fallacy to suggest that the president should sign into law something when there isn’t even an alternate route identified in Nebraska …” Carney also said the then-delay in reviewing the project was “a result of concerns in Nebraska about the route … and how it would affect the aquifer there.”

That was then. Now it appears the White House statements were really excuses, not concerns.

Indeed, last year the State Department’s exhaustive Keystone XL environmental review concluded that the project would be the safest pipeline ever built in the United States. The department also determined that the project’s proposed safety mechanisms and procedures wou... more »

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We Are the American People, Mr. President

Normally, we don’t bother with blog posts from the Center for American Progress on oil issues because, to borrow from an old saying, there’s no point in fact-checking someone who puts out propaganda by the barrel.  But since this post yesterday sought to “debunk” our “claims,” let’s have a look at CAP’s. Warning: These point/counterpoint, counter/counterpoint things can get a little long.

From CAP:

CLAIM: “More domestic production is critical to putting downward pressure on gasoline prices — supply matters.” – Jack Gerard, American Petroleum Institute President and CEO, March 26, 2012

TRUTH: To test whether more U.S. domestic production would lower gasoline prices, the Associated Press just completed an exhaustive analysis of 36 years of monthly U.S. oil production and gasolin... more »

Update: The U.S. Senate failed to reach the 60 votes needed to invoke cloture and the motion failed 51-47. (29 Mar 2012)

Today the Senate will vote to advance S.2204 sponsored by Sen. Menendez (D-NJ). This bill will raise taxes on major integrated oil and natural gas companies to subsidize other forms of energy and will do absolutely nothing to lower gasoline prices.

A new poll conducted by Harris Interactive, from March 9-13 of registered voters nationwide, found that 76% of voters believe that increasing energy taxes could increase consumer costs on a wide variety of products, including higher gasoline prices.

American voters overwhelming oppose higher taxes!

Additionally, this bill claims to end alleged “subsidies” for a handful of oil and natural gas companies. However, nothi... more »

The Marshall Institute’s William O’Keefe has a must-read on Fuel Fix for folks puzzled by the recent AP analysis that discounted the effect of domestic drilling on global crude pricing, which is the key component (76 percent) in fuel costs.

Remember, the AP said its statistical analysis of 36 years of monthly, inflation-adjusted, gasoline prices found no correlation between the level of production from U.S. wells and prices at the pump.

O’Keefe:

“The AP attempts to use a disconnected statistic, domestic production, to make an erroneous correlation to counter arguments in favor of more U.S. exploration and development. In doing so, the wire service offers the public a political statement in place of objective analysis.”

O’Keefe continues:

“To begin with, domestic oil prod... more »

Earlier this week, API hosted a conference call with bloggers to discuss rising gasoline prices and to correct misinformation about the factors that figure into the prices Americans pay at the pump. API Chief Economist John Felmy explained that crude oil costs account for 76 percent of the prices Americans pay for gasoline. Although crude oil is a global commodity, Felmy said that the United States is not powerless in dealing with global markets because, in fact, “we’re energy rich and have lots of options.”

In his opening statement, Felmy called for the United States to help put downward pressure on fuel price:

“America’s oil and natural gas companies believe a preemptive surrender to the global marketplace and world events is absolutely the wrong policy…Although the president re... more »

Why did energy supporters in the U.S. Senate stand aside to allow consideration of legislation they oppose – raising taxes on America’s oil and natural gas companies? After all, there were more than enough votes to keep the proposal from coming to the floor.

Simple, in politics you choose the fights you think you can win, and Senate opponents of higher energy taxes feel like they’ve got the American people behind them.

Here’s why. A spate of surveys shows that strong majorities of Americans favor more production of oil and natural gas here at home. Both Gallup and Rasmussen have new polls showing Americans support construction of the Keystone XL pipeline, which would bring up to 830,000 barrels of oil per day from neighbor and ally Canada. Another Rasmussen survey indicates 2-1 suppo... more »

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We Are the American People, Mr. President

Let’s talk about a fundamental difference of opinion on the key energy issue of the day.

We say crude oil supply matters – in the context of global-market pricing, which affects fuel prices because the cost of crude accounts for 76 percent of what Americans are paying at the pump. More supply alters the energy equation, exerting downward pressure on crude prices. Energy Economics 101.

The president seems to disagree, saying there’s no “silver bullet,” while suggesting there’s not much that can be done to affect global markets and offer hope to beleaguered consumers. At the same time he tacitly acknowledges market forces work – but only from the side of the equation that reduces demand through efficiency and other measures.

We’re all for greater efficiency, but the president is igno... more »

As the president hits the road to talk about energy, he should first listen to what the American people are saying, reflected in two new polls this week.

Start with a Harris Interactive survey that shows 76 percent of voters believe increasing taxes on oil and natural gas companies could cost them more at the fuel pump. For a president who continues to talk about hiking taxes on energy companies that should be a big red flag.

Americans who’re getting slammed by higher fuel costs appear to sense that increasing energy taxes would drive up energy producers’ costs, which – as the Congressional Research Service found last year – could decrease exploration, development and production while elevating prices.

Other details from the Harris poll of 1,009 respondents:

The more the president talks about energy, the more heat he creates for himself. Here’s the Washington Post’s Fact Checker, weighing his rhetoric about the U.S. consuming 20 percent of the world’s oil while having just 2 percent of its proven reserves:

“ … this is a good example of what we call ‘non sequitur facts’ — two bits of information that actually bear little relationship to each other. The president is trying to make the case that the world has finite oil resources, and the United States — the world’s biggest oil consumer — needs to use less oil in the future. But using ‘oil reserves’ as a key metric gives an incomplete picture of U.S. oil resources.”

The Fact Checker points out that “proven reserves” is a specific term. The oil must have been discovered, confirmed by dri... more »

The White House had a post up last week with some numbers on production of oil and natural gas on America’s public lands and offshore waters. They want the facts to “speak for themselves,” so let’s chart their numbers over the past six years:

The White House says:

"We know that production levels will fluctuate from year-to-year based on market conditions and industry decisions."

Of course the same is true for private lands where production levels are up.

"It also reflects the fact that the nation battled a major oil spill in the Gulf of Mexico in 2010."

An interesting point, given that 2010 production is the peak for oil. And it doesn’t explain the projected declines this year and next:

"Still, the overall trends show a clear picture of rising domestic produc... more »

Yesterday President Obama gave a campaign speech centered around energy policy.  In it he said:

“There’s a problem with a strategy that only relies on drilling and that is, America uses more than 20 percent of the world’s oil.  If we drilled every square inch of this country -- so we went to your house and we went to the National Mall and we put up those rigs everywhere -- we’d still have only 2 percent of the world’s known oil reserves.  Let’s say we miss something -- maybe it’s 3 percent instead of two.  We’re using 20; we have two.  Now, you don’t need to be getting an excellent education at Prince George’s Community College to know that we’ve got a math problem here.  I help out Sasha occasionally with her math homework and I know that if you’ve got two and you’ve got 20, there’... more »

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