“We looked at what the United States could produce and how long the volumes would last. People talk about rates, but this is not good science unless you include the time those rates can last.” ~Dr. Richard Bishop, RSK (UK) Ltd.
RSK’s Chief Geologist, Dr. Richard Bishop, is featured in this recent article discussing development of natural gas and oil shales throughout the U.S, as well as the prospect for energy independence.
Iraq’s oil revival could be a gusher for Houston firms
“It’s going to mean a lot of jobs for Houston and a sizable amount of income for these major services companies,” said Wayne Kelley, managing director of RSK [UK] Ltd, an oil and gas advisory firm in Houston.
Exxon In Iraq Marks New Era For IOCs
One of the so-far unanswered questions regarding the scramble by so many international oil companies to secure service contracts in Iraq — Exxon Mobil in particular — is exactly why they are so interested, especially after their initial disdain. After all, the stated remuneration is a meager $1.90 per barrel in the case of West Qurna-1, which Exxon and Royal Dutch Shell will be redeveloping. The answer could be buried in a US Securities and Exchange Commission (SEC) document that sets out new rules for how and when operators can book reserves, including those associated with service contracts.
As Iraq Seeks Oil Investors, They See an Uncertain Bet
“The lack of infrastructure and graft are looming issues, but even if they are mitigated, the terms the Iraqis have been offering are not competitive with alternate uses of funds by international oil companies,” Mr. Kelley said.