Natural Gas News – May 7, 2018
The Next Big Trend in Offshore Oil & Gas
Oil Price reported: The offshore sector will increasingly focus on natural gas instead of oil over the next few decades, while policy support and technology improvements could also see offshore investment shift in favor of wind power. However, in the short run, offshore drilling is set for a resurgence. The oil market downturn in 2014 hit off-shore drilling hard. Developing an oil field offshore is a huge, complex, expensive and long-term undertaking, a proposition that fell out of favor when oil prices crashed. By comparison, shale drilling is relatively cheap and short-term and over the last few years, capital flowed out of the offshore sector and into the shale patch. Even the oil majors pivoted towards small, short-cycle shale drilling. Today, a quarter of the world’s oil supply comes from offshore at about 26-27 mb/d, a figure that has remained steady over the past decade, which translates into a declining share of the overall market as total supply continues to grow.
More homes without natural gas after leak detected in northwest Dallas
Dallas News reported: More homes in northwest Dallas are without natural gas Sunday while Atmos Energy replaces pipes after several leaks were detected. Gas service was cut to about 45 homes in the 3200 and 3300 blocks of Darvany and Kinkaid drives. Atmos said the leaks were found while doing routine surveying and monitoring in the area. Crews were going door to door to inform residents of the latest problems. “We have replacement projects underway in this area and decided to move forward with replacing these blocks now,” Atmos said in an emailed statement. “The gas has been shut off and the replacement project has already begun.” No homes were evacuated, but it could take up to a week to replace the pipes, according to City Council member Omar Narvaez, who represents the district that includes much of the area that been affected by recent outages.