PEAK OIL NEWS AND MESSAGE BOARDS


SHALE COMPANY DEFAULTS ON $175 MM IN BONDS WITHOUT MAKING A SINGLE INTEREST PAYMENT

"According to a Bloomberg report, the Colorado oil producer, whose stock is now trading at a very sub-eagle $0.20, or about $6MM in market cap (the stock was at $6.00 when the Seeking Alpha report came out) has announced it will not make even one coupon payment on its bonds issued less than seven months ago [...] And instead of fulfilling its naive bondholders dreams that they will collect an 11% annual coupon for the next 5 years and then get repaid in full, the company hired bankruptcy advisers, Canaccord Genuity and Seaport, to negotiate a restructuring plan with the bondholders [...] And since the company won't have any cash to repay anyone, the bondholders will end up with the equity, the problem is that this is equity in a company which even post restructuring, will be unviable absent oil returning back to the $80+ ballpark [...] What is perhaps most odd is that American Eagle Energy actually had downside oil hedges: the only problem, they were not nearly enough!"

Zum Artikel von 'Tyler Durden', erschienen auf ZeroHedge (5. März 2015) »

UNITED STATES WILL NOT BECOME THE 'NEW SAUDI ARABIA' OF GLOBAL ENERGY

"The United States will never be a major oil exporter. Their import needs are getting less but the US is not becoming Saudi Arabia. Their production growth is good to diversify the market but it will not solve the world's oil problems."

Zu den Aussagen vom neuen IEA-Direktor Dr. Fatih Birol, erschienen in The Telegraph (26. Februar 2015) »

Zu Kommentar von Andy Tully, erschienen auf OilPrice (1. März 2015) »

JOHANN MAYR - ÖL INS FEUER GIESSEN

Dies ist der elfte Cartoon des Künstlers Johann Mayr rund um das Thema Erdöl, den wir unseren Lesern exklusiv auf ASPO-Deutschland vorstellen möchten. 

Auf ASPO-Deutschland mit freundlicher Genehmigung von Johann Mayr veröffentlicht.

https://lh5.googleusercontent.com/-38KMRA3jIvk/VOxihc5PPMI/AAAAAAAADs0/Zgh8up_9tgg/w3573-h2452-no/Johann%2BMayr%2B-%2BOel%2Bins%2BFeuer%2Bgiessen.jpg
Copyright: Johann Mayr, Jetzendorf, 2015.

Link zum elften ASPO-Cartoon "Öl ins Feuer gießen" von Johann Mayr in voller Auflösung »

Link zum zehnten ASPO-Cartoon "Bei den Spritpreisen zu Hause Weihnachten feiern?" von Johann Mayr in voller Auflösung » 

Link zum neunten ASPO-Cartoon "Ihr Auto steht für Sie im Stau" von Johann Mayr in voller Auflösung »

Link zum achten ASPO-Cartoon "Verbrauchen geht schneller" von Johann Mayr in voller Auflösung »

Link zum siebten ASPO-Cartoon "Sie fangen an zu fracken!" von Johann Mayr in voller Auflösung »

Link zum sechsten ASPO-Cartoon "Kein Schulbus mehr!" von Johann Mayr in voller Auflösung »

Link zum fünften ASPO-Cartoon "Sie werden uns befreien" von Johann Mayr in voller Auflösung »

Link zum vierten ASPO-Cartoon "Essig im Salat" von Johann Mayr in voller Auflösung »

Link zum dritten ASPO-Cartoon "Reisebeschreibungen aus fossiler Zeit" von Johann Mayr in voller Auflösung »



THE ENTIRE OIL COLLAPSE IS ALL ABOUT CRUSHING RUSSIAN CONTROL OVER SYRIA

"Said otherwise, the pound of flesh demanded by Saudi Arabia to "bless" US airstrikes and make them appear as an act of some coalition, is the removal of the Assad regime. Why? So that, as we also explained last year, the holdings of the great Qatar natural gas fields can finally make their way onward to Europe, which incidentally is also America's desire - what better way to punish Putin for his recent actions than by crushing the main leverage the Kremlin has over Europe? [...] While we understand if Saudi Arabia is employing a dumping strategy to punish the Kremlin as per the "deal" with Obama's White House, very soon there will be a very vocal, very insolvent and very domestic shale community demanding answers from the Obama administration, as once again the "costs" meant to punish Russia end up crippling the only truly viable industry under the current presidency. As a reminder, the last time Obama threatened Russia with "costs", he sent Europe into a triple-dip recession. It would truly be the crowning achievement of Obama's career if, amazingly, he manages to bankrupt the US shale "miracle" next [...] It was conspiratorial, that is, until today, when thanks to the far less "tinfoil" NYT one more conspiracy theory becomes conspiracy fact, following a report that 'Saudi Arabia has been trying to pressure President Vladimir V. Putin of Russia to abandon his support for President Bashar al-Assad of Syria, using its dominance of the global oil markets at a time when the Russian government is reeling from the effects of plummeting oil prices' [...] Actually that's not it: Syria, as we have been explaining for nearly two years is the critical transit zone of a proposed natural gas pipeline, originating in Qatar, and one which would terminate somewhere in central Europe. The same Qatar which was the "mystery sponsor of weapons and money to Syrian mercenary rebels" who eventually became ISIS. The same Qatar which is now directly funding ISIS. Of course, if Putin were to handover Syria to the Saudi princes (and to Qatar), he would effectively shoot himself in the foot by ending any leverage Gazprom has over Europe [...] And that, ladies and gentlemen, is what the great oil collapse of 2014/2015 is all about."

Zum Artikel von 'Tyler Durden', erschienen auf ZeroHedge (4. Februar 2015) »

http://www.zerohedge.com/news/2015-02-03/another-conspiracy-theory-becomes-fact-entire-oil-collapse-all-about-crushing-russia
Cornellrockey // Public Domain

THE PROS AND CONS OF FRACKING

Pros
  • Blasts tens of thousands of gallons of chemicals deep underground, out of harm’s way
  • Prompts important conversation about whether or not people have a right to clean water
  • Fact that shale well blowout could happen at any moment emphasizes ephemeral beauty of life
Cons
  • Dilutes perfectly good chemicals
  • Class action lawsuits always take forever and are super boring
  • Fewer excuses to spend time with oil-rich dictatorships

Zur Satire auf THE ONION (29. Januar 2015) »

U.S. SHALE BOOM MAY COME TO ABRUPT END

"U.S tight oil production from shale plays will fall more quickly than most assume. Why? High decline rates from shale reservoirs is given. The more interesting reasons are the compounding effects of pad drilling on rig count and poorer average well performance with time. Rig productivity has increased but average well productivity has decreased. Every rig used in pad drilling has approximately three times the impact on the daily production rate as a rig did before pad drilling. At the same time, average well productivity has decreased by about one-third. This means that production rates will fall at a much higher rate today than during previous periods of falling rig counts [...] Rig productivity--the barrels per day per rig--has increased but average well productivity--the barrels per day per well--has decreased. In other words, production can only be maintained by drilling an ever-increasing number of wells [...] Average rig productivity has almost tripled since early 2012. Average well productivity has decreased by one-third over the same period. This means that every rig taken out of service today has more than three times the impact on daily production as before pad drilling became common."

Zum Artikel von Arthur Berman, erschienen auf OilPrice (26. Januar 2015) »