December 1st, 2019
Light oil flowing at 550 bbl per day from a rank wildcat 600 miles north of Perth promises to establish the first commercial oil production on the continent of Australia.
The first deep test for oil in Israel is spudded near the former Biblical city of Sodom (ironically, adjacent to a large salt deposit).
U.S. active rig count: 2,885
East Texas crude: $2.90/bbl
The world deepwater drilling record (3,461 ft, offshore Thailand) is in jeopardy by upcoming wells planned for, would you believe… offshore Suriname and offshore Newfoundland!
Exxon reports that good results from a test run on 16,000 tons of Texas lignite coal at South Africa’s huge coal-gasification complex could pave the way for a $2-$3 billion lignite SNG facility near Troup, Texas.
U.S. active rig count: 2,118
Industry shells out big sums …