Oil | Natural Gas | News |.com

Dead organic matter must lie in either stagnant, oxygen-free waters at the bottom of the sea until buried or be buried quickly after death and achieve a concentration of one to three percent by weight to become a future oil reservoir, although this concentration can be as high as ten percent.  The next step is burying the organically rich sediment deep enough to generate the temperature and pressure necessary to transform organic matter to oil.

With 7,000 feet of overburden, the pressure is sufficient to raise the sediment’s temperature to 150 degrees Fahrenheit, the minimum to produce a heavy and generally undesirable grade of crude oil.  Preferred light crudes are produced as one approaches 18,000 feet and 300 degrees Fahrenheit.  Beyond 18,000 feet, the temperature and pressure are sufficient to transform oil to graphite and natural gas. The oil window is 7,000 – 18,000 feet below the surface of the earth, meaning that sediments at a river’s mouth must be buried between 1.5 – 3.5 miles of debris to produce oil by either the ocean bottom sinking or the surrounding land mass rising or a combination of both.

The properties of the oil depend on the type of organism, its concentration, depth of burial, and the nature of the surrounding sediment.  Oil properties vary from one field to another and no two fields have exactly the same properties.  Commercial grades of crude are really a mix of oil from different oil fields in the same region that have similar properties.  A few are from different oil fields with dissimilar properties such as Urals, a specified mix of light sweet crude from western Siberia and heavy sour crude from the Ural region of Russia.

Brandon Davis™,  CEO,  Swan Energy Inc.™

Uncategorized | Comments (0)

“This is good news and a positive step forward as we work to expand our nation’s domestic energy production. Moving forward on the mid-Atlantic off-shore proposal will provide an opportunity to determine the scope of our region’s off-shore energy resources, the economic viability of accessing those resources, and the potential impacts on our environmental and national security priorities.

“The next important step is for Congress to approve a formula for sharing revenues between the federal and state government. I am continuing to work with my colleagues to come up with a proposal that is fair and equitable, and which could attract significant new investment and create good jobs in Virginia.

“This is not a ‘silver bullet’ solution to our nation’s chronic energy challenges. But I have long advocated an ‘all-of-the-above’ approach that incorporates increased R&D into bio-fuels and other renewables, development of our nation’s off-shore oil, gas and wind resources, the expanded use of clean coal technology and nuclear energy, and increased conservation measures. This ‘portfolio’ approach will significantly boost our nation’s capacity for domestic energy production while strengthening our national security by reducing our over-reliance on imported oil.”

Uncategorized | Comments (0)

• Cole Gustafson, Biofuels Economist, North Dakota State University, explains how EPA regulations target the months of April – September.
http://www.ag.ndsu.edu/news/columns/biofuels-economics/new-energy-economics-why-do-gas-prices-rise-in-summer/

• Jerry Egerton shares 5 Ways to Beat Rising Gas Prices
CBS Money Watch
http://moneywatch.bnet.com/economic-news/blog/cars-money/how-to-beat-rising-gas-prices/151/?tag=video-meta-single;do-next

• Jim Henry’s 6 Myths About Gas Mileage
CBS Money Watch
http://moneywatch.bnet.com/economic-news/article/6-myths-about-gas-mileage/317188/?tag=content;col1

• Gas Price Quiz breaks down the cost of a gallon of gasoline and U.S. consumption.
How Stuff Works
http://auto.howstuffworks.com/fuel-efficiency/fuel-consumption/gas-price-quiz.htm

Uncategorized | Comments (1)

HOUSTON  Oil and natural gas company Petrohawk Energy Corp. said Monday that it reached an agreement to sell an Oklahoma natural gas field and other properties for $175 million.
The company did not disclose buyers for the West Edmond Hunton Lime Unit Field and two other properties. The sales are the first of four asset packages that Petrohawk expects to sell this year as part of a divestiture strategy.
The natural gas field, sold to a private company for $155 million, has estimated proved reserves of 23 billion cubic feet of natural gas equivalent. It produces 12 million cubic feet of natural gas equivalent daily. The deal is expected to close by April 30.
The two other properties, which the company did not name, were sold for $20 million. Petrohawk shares rose 28 cents to $21.68.

Uncategorized | Comments (1)