Obsidian Energy is a gas and oil producer of energy. It is located in Calgary, Canada. The company showed increasingly exciting growth in the third quarter of the last year. The CEO David French recently addressed the wells that were discovered in the Rocky Mountains of Western Canada. In that comment, Finch added that there are three million acres of land included in that region. This is encouraging news for the energy community. Obsidian Energy had begun exploration in the area just this past year. The results of that exploration have been promising. So afar three wells have been created that have produced 2,000 barrels of product per day. This equals 60 barrels of energy in the form of oil each day. That has far exceeded the expectation
The first case that was involved CFPOA is R. v. Griffiths Energy International . In January 2013, the Griffiths Energy was pled guilty to bribery offence under section 3(1), (b) of the CFPOA . The offender paid over USD 2 million to obtain a consulting agreement of oil contracts in the Republic of Chad. Griffiths Energy paid the bribe to a company owned by the wife of the foreign ambassador as well as a number of founder shares. The article of “A New Era of Canadian Anti-Corruption Enforcement?” mentions more detail of the court case. On September 15, 2009, the Griffiths Energy offered the bribe to Chad Oil Counsulting the statement of facts disclosed that the Griffiths Energy LLC owned by Ms. Niam, the wife of Chad’s Canadian, Ambassador Mahamoud Adam Bechir, and
The U.S. should invest in alternatives to oil, and drill on the United States grounds because it will assist the economy, preserve energy and fix the world’s environmental problems. The supply and demand for oil is always on the rise, and problems are contemplated with the use for oil. Those problems are starting to catch up to the modern world, and something needs to change before the world enters a black out. Experts can predict that there is estimated to be somewhere around 61 years of oil left for us to use at our current rate. The demand for oil is always rising. People in today’s modern society rely so heavily on oil, that they would not know what to expect if it
Evidence: According to the U.S. Geological Survey they have estimated that there are 16 billion barrels of oil available for drilling, and would be sufficient enough to replace all of America’s imports from Saudi Arabia for
Josh Tickell producer and writer of a compelling discussion of how our world is depending on the production and use of oil. Tickells documentry "Fuel" shows a great insight to how guilty we are for the over use of this commodity. He explains through political power oil has been a catalyst for making the wealthy, wealthier. In trhe documenrty he depicts the devistation that the oil indusrty has created globally.
Oil is the product that each and every one of us use. It can be used for fuel, heating and even cooking. The most often known for unstable price is crude oil or gasoline. According to the The Economist, The main reason for price shifts of oil is oversupply. The oil production in Saudi rose 10.3 million barrels per day. This increase is the effect of a new method that I being applied to oil extraction. This method is called fracking, fracking is where they drill into tight-rock formations then gradually turning horizontal for several thousand feet more. This results to accommodations to multiple oil wells. This new approved method of oil harvesting has raised the productivity gains and reduced the cost of harvesting oil.
The Problem with the immense amount of drilling companies in the area, is that land which was once used for agriculture and land which once was home to fields and forests are now being transformed into drilling sights. As of October 2011 the researchers estimated that 276.84 hectares (684.09 acres) of previously unaltered land had been converted to 69 well pads. Agriculture land has taken the biggest hit from the drilling companies, 458.58 acres or 67% of the land had been converted for drilling natural
Oil suppliers dig deep down to the roots to analyze and derive concrete solutions to carry on the rising market. The force of fracking in the United States is lifting the economy; the system has been a political game changer for the nation, creating job opportunities and investing money into the community. The United States is currently capable of competing with the global marketplaces at a high rate. This coordination leads to knowledge for on-shoring manufacturing, which eliminates the dependency on foreign oil. This significant groundwork is driving opportunities for innovators. The abundant supply of oil and the inexpensive cost leads to cheaper energy for consumers (Dews, 2015). Along with the low price for refineries,
The oil underneath the coastal plain of ANWR will support America for approximately twenty-five years depending on how much oil proves to be
As some of you may know, Canada is one of the world’s largest energy producers and is a principal source of US energy imports. Canada has oil sands that are unconventional, but a significant contributor to the growth of liquid fuel supply (North America). Oil sands are areas where the sand absorbed the oil. Refineries pull the oil from
“While the use of this technology has proven to be a game changer for increasing the domestic production of oil and gas
EnCana Corporation (EnCana) is one of North America’s leading natural gas producers. It is among the largest holders of natural gas and oil resource lands onshore North America and is a technical and cost leader in the in-situ recovery of oil sands bitumen. EnCana’s other operations include the transportation and marketing of crude oil, natural gas, and natural gas liquids; as well as the refining of crude oil and the marketing of refined petroleum products. Its operations are located in Canada, the US, Ecuador, and the UK.
The company’s closest competitors are Canadian Natural Resources Limited, EnCana Corporations, Talisman Energy Group Inc., and Canadian Oil Sands Limited. One of the company’s major assets is the research and development of state of the art technology to reach and unlock gas & oil deposits. They implement the use of hydraulic fracturing technology to unlock unconventional gas assets, are able to drill up to 34,000 feet deep into the Gulf of Mexico to access oil deposits below the gulf floor, and implementing gasification technology which uses steam to separate oil deposits from the sand in the northern Alberta oil sands (Nexen’s way). The company has been successful to date, however their lack of resources and capital has limited their growth and expansion, as well as the $4.3 billion debt that they currently have (Financial Post 2). This is why the
Located in Southern Iraq, 20 miles from the Kuwaiti border, is the Rumaila oil field (Fig. 1). It is one the biggest oil fields in the world and the biggest in Iraq. Discovered in 1953 by the Basrah Petroleum Company (BPC) at 2.4 km below the surface, an associate company of the Iraq Petroleum Company, this super-giant oil field’s first estimated volume was thought to be 30 billion barrels in oil reserves (Bb) (Vassiliou 2009); it is now estimated to be 17 Bb (Hydrocarbons Technology n.d.). Since 1961, it has been under control of the Iraqi Government and has been heavily developed (Shwadran 1977). The field makes up around 40% of Iraq’s oil production with around 200 land wells operating. On November 3rd, 2009, British Petroleum (BP) along with the China National Petroleum Corporation (CNPC) bid on the field and signed a joint contract acquiring a share of acreage and production with Iraq’s state-owned South Oil Company (SOL), the company that had run the oil field since its inception with the state. In the contract BP received 38% of production share, its partner CNPC gaining 37%, and 25% for the Iraqi government’s State Oil Marketing Organization (SOMO) (BP 2014). BP and CNPC aimed to increase production from 1.1 million barrels a day to 2.85 by 2016. By October 2012, the field was producing around 1.33 million barrels of oil per day (UK Trade and Investment 2014).
During the summer of 2014 I took part in the Energy Project programme, I was paired with a small heating-engineering company, Global Celsius solutions. The company had recently developed a cheap, rugged and reliable water boiling system, the “Jompy” boiler. The system itself took advantage of compact heat exchanger design principles incorporating a high surface area, minimising the footprint of the system without sacrificing overall performance, the boiler was capable of producing water in excess of 70oC within a matter of 5-7 seconds(from my own experience with the boiler). The overall aims of the project included:
A lot Scientists and oil field experts have been collecting facts and scientific evidences to try to predict the period at which peak oil will occur. Two of the scientists working toward this discovery are Colin J. Campbell and Jean H laherre. Those two scientists wrote an article about the aftermath s of the 1970 's oil embargo sppured reachees over the decline of oil, which resulted in erroneous conclusions due to various factors (78). In order to truly cast light on the issue of oil decline, Campbell and Laherrère merged a variety of techniques which comprise the examination of “the decline of aging fields” and “the diminishing returns on exploration in larger regions”, the extrapolation of the size