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Author Topic: Fossil Fuels: Degraded Democracy and Profit Over Planet Pollution  (Read 11361 times)

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AGelbert

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    • Agelbert Truth AND Consequences
If Venezuela continues to lose production, and price reacts as expected, US shale producers are just going to make a killing. They figured out how to continue to increase oil production at $50/bbl, goodness only knows what happens if they begin getting $100 or $150.

I sincerely hope Oil prices go above $100 or $150/bbl, but given the current situation in the Gulf fo Mexico ( Shell just opened a well they claim they can get gas from at SUPER cheap cost), the rapidly expanding Russian and other areas (excluding Venezuela , which is cratering) of fossil fuel production AND the cheap power from Wind and solar, that ain't gonna happen. The competition is just too fierce.

Shell Starts Production at Kaikias at $30 Break-Even Price 👀

June 1, 2018 by gCaptain

SNIPPET:

Shell Offshore, a subsidiary of Royal Dutch Shell, announced Thursday the early start of production at the first phase of Kaikias, which has an estimated peak production of 40,000 barrels of oil equivalent per day (boe/d), around one-year ahead of schedule.

Shell says it has reduced costs by around 30% at this deep-water project since taking the investment decision in early 2017, lowering the forward-looking, break-even price to less than $30 per barrel of oil.

“We believe Kaikias is the most competitive subsea development in the Gulf of Mexico and a prime example of the deep-water opportunities we’re able to advance with our technical expertise and capital discipline,” said Andy Brown, Upstream Director, Royal Dutch Shell. “In addition to accelerating production for Kaikias, we reduced costs with a simplified well design and the incorporation of existing subsea and processing equipment.”

Kaikias is located in the prolific Mars-Ursa basin around 130 miles (210 kilometres) from the Louisiana coast and is owned by Shell (80% working interest), as operator, and MOEX North America LLC (20% working interest), a wholly owned subsidiary of Mitsui Oil Exploration Co., Ltd.

full article:

http://gcaptain.com/shell-starts-production-at-kaikias-at-30-break-even-price/

Unfortunately for the environment, (SEE: GUARANTEED Catastrophic climate Change ), there's a LOT more gas where that came from:  :P

Shell Makes Large Deepwater Discovery in U.S. Gulf of Mexico

May 25, 2018 by gCaptain

SNIPPET:

“Shell’s major, deep-water hubs are well positioned for production expansion through near-field exploration and additional subsea tiebacks,” the company says. “The company expects its global, deep-water production to exceed 900,000 barrels of oil equivalent per day by 2020, from already discovered, established areas.”

The Appomattox host platform is owned by Shell (79%) and Nexen Petroleum Offshore USA Inc. (21%).

Full article:

http://gcaptain.com/shell-makes-large-deepwater-discovery-in-u-s-gulf-of-mexico/


Also, THIS threat to all things fossil fuel is NOT going to go away, but will continue to effectively exert downward pressure on oil and gas prices.




June 8, 2018 by Bloomberg

Next Offshore Wind in U.S. Can Compete With Gas, Developer Says

By Jim Efstathiou Jr. (Bloomberg) — Massive offshore wind turbines keep getting bigger, and that’s helping make the power cheaper — to the point where developers say new projects in U.S. waters can compete with natural gas.

The price “is going to be a real eye-opener,” said Bryan Martin, chairman of Deepwater Wind LLC, which won an auction in May to build a 400-megawatt wind farm southeast of Rhode Island.

Deepwater built the only U.S. offshore wind farm, a 30-megawatt project that was completed south of Block Island in 2016. The company’s bid was selected by Rhode Island the same day that Massachusetts picked Vineyard Wind to build an 800-megawatt wind farm in the same area.

Bigger turbines that make more electricity have cut the cost per megawatt by about half, said Tom Harries, a wind analyst at Bloomberg New Energy Finance. That also reduces maintenance expenses and installation time. All of this is helping offshore wind vie with conventional power plants.

See Also: Massachusetts, Rhode Island Award Major Offshore Wind Contracts

“You could not build a thermal gas plant in New England for the price of the wind bids in Massachusetts and Rhode Island,” Martin said Friday at the U.S. Offshore Wind Conference in Boston. “It’s very cost-effective for consumers.”

read more:

http://gcaptain.com/next-offshore-wind-in-u-s-can-compete-with-gas-developer-says/
« Last Edit: June 10, 2018, 03:10:51 pm by AGelbert »
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