LifeItself

Part I of this post shows my calculations of ultimate gas recovery from the Barnett, Fayetteville, Haynesville and Marcellus shales.  They might deliver 6-7 years of natural gas consumption in the U.S. in 2015, or might deliver only 3 years worth of U.S. gas consumption.  In Part II, I will show my calculations of ultimate recovery of oil and gas in the Eagle Ford and Bakken shales that ultimately might deliver 6-12 months of additional gas consumption.  I will also discuss the physical reasons for the negative impact oil production from these two shales has had on global oil prices. As Asjylyn Loder and others at Bloomberg have noted , another 19 billion dollars of debt of shale oil and gas producers is going into default as of the second week of March, 2016: Since the start of 2015, 48 oil and gas producers have gone bankrupt owing more than $17 billion, according to law firm Haynes and Boone. Fitch Ratings Ltd. predicts $70 billion of energy, metal and mining defa...

My dear old friends from McKinsey & Company have come up with their view of the world's top technologies .  As a historical note, beginning in the mid 1980's and through the 1990's, McKinsey was instrumental in irreversibly damaging the U.S. oil and gas industry.  McKinsey was hired by the scared oil & gas managers to do a hatchet job on the researchers and operations staffs across the U.S. and - for a lot of money - did a awesomely devastating job. Suffices it to say that the oil and gas industry in the U.S. will never again have the same breadth and depth, ever.  This statement of fact has some interesting connotations when it comes to operating in the ultra-difficult, super-inhospitable environments, which seem to enter into our future.  In fairness to McKinsey and several other consulting outfits, they acted as expensive mercenaries used by management to execute (no pun intended) the already agreed upon plans, as in: "What do you want me to conclude, bo...

Using the approach introduced in the previous post , I will now investigate how electricity is produced and imported in Texas and California.  I choose these two states because I have strong ties to both of them, and they also enjoy very different public images.  Texas is generally viewed as pro-oil, gas, coal and nuclear power, while Californians appear to oppose all of these sources of electricity in their outlets, while touting the green and renewable sources.  It is therefore instructive to look at the main sources of your electricity when you live in Texas or California. For the record, last year, Texas produced twice the amount of electricity imported and produced in California. Most of the difference was caused by air-conditioning everything in Texas, but also by Texas' large base of heavy industry, which is already gone from California, perhaps forever. I start with my home state,Texas, because it is very simple to describe its electricity sources.  ...

At noon today I was asked by the Austin Chapter of Sierra Club to do a joint interview on the first anniversary of the Macondo well tragedy.  This is what I said: Tad Patzek, Remarks at the 4/20/2011 media event organized by Sierra Club Noon Press Event at 11th & Congress in Austin.  For full disclosure l need to tell you that I am Chairman of the first-ranked petroleum engineering department in the country, and I am very proud of it.  I have not come here to bash oil, because hydrocarbons, oil and natural gas , as well as coal, have underwritten both the industrial revolution and the scientific revolution that have produced the wind turbines and solar photovoltaics, as well as all components of the electric cars we all like so much.  Without fossil fuels, all modern renewable energy sources would be dead before arrival . Because the real production rate of liquid petroleum is peaking and the imaginary additions are unlikely to make up for the rate deficit,...