Enhanced Oil Recovery (EOR) Market is Expected to Reach USD 516.7 Billion Globally by 2023

Written by PRNewswire. Posted in Enhanced Energy Recovery & Oil Industry Blog

 Transparency Market Research ALBANY, New York, April 24, 2014 . PRNewswire.


Transparency Market Research has released a new market report titled "Enhanced Oil Recovery (EOR) Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2023," that defines and segments the enhanced oil recovery market with analysis and forecast of the global volume and revenues. This report observes that the revenue of enhanced oil recovery technology was USD 38.1 billion in 2012 and is expected to reach USD 516.7 billion by 2023 and is anticipated to grow at a CAGR of 26.7% between 2013 to 2023.

Browse Global Enhanced Oil Recovery (EOR) Market Report with Full TOC at

http://www.transparencymarketresearch.com/enhanced-oil-recovery.html

Key enhanced oil recovery methods analyzed in this study include thermal injection, gas injection and chemical injection. Thermal injection was the largest technology by volume and accounted for about 51.5% of the market share in 2012. This is a mature segment and is expected to show decline as compare to the other technologies. Gas EOR technology is expected to rise by 0.1%, accounting for 38.5% in 2023. Chemical EOR technology is expected to rise from 10.03% in 2012 to 29.71% in 2023. North America dominated the global market for enhanced oil recovery in 2012. With over 38.9% global market share in terms of volume, the North America is the leading market in enhanced oil recovery. This is mainly attributed to the huge demand from the U.S., Canada and Mexico. RoW accounted for about 30.9% of the total volume share in 2012. Europe and Rest of the World (RoW) are expected to exhibit the highest growth rate over the forecast period considering upcoming EOR projects in Russia, UK and Middle East. Europe is a lucrative market for commercial development and expansions and is expected to rise from 9.5% to 13.1% between 2013 and 2023.

In the year 2012, Asia Pacific accounted for 20.7% of the global enhanced oil recovery market but it is expected to show a decline as China is the only country with maximum EOR projects in the Asia Pacific region. The global enhanced oil recovery market has witnessed significant growth during the recent past.


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Denton has become ground zero in Texas in the fight over hydraulic fracturing.

Written by Peggy Heinkel-WolfeStaff . Posted in Enhanced Energy Recovery & Oil Industry Blog

By Peggy Heinkel-WolfeStaff   This email address is being protected from spambots. You need JavaScript enabled to view it.

Published: 12 July 2014 11:02 PM

Denton Record Chronicle: Hearing on possible fracking ban part of Tuesday’s meeting  

denton.tx.download denton texas logo

 

A local and long-simmering fight over the effects of fracking on Denton neighborhoods is morphing into a statewide battleground over a city’s right to police what happens within its boundaries. The city staff is preparing for a large crowd when the Denton City Council takes up a proposed ban on hydraulic fracturing during its regular meeting Tuesday night, including requiring speakers to register in advance. Outgoing Texas Railroad Commission Chairman Barry Smitherman wrote a letter to Mayor Chris Watts and the City Council on Friday urging them not to approve the ban, calling oil and gas drilling a pillar of the Texas economy.

Under the city charter, the council must hold a public hearing on an initiative petition before taking a vote on the matter.

A group of Denton residents organized the initiative in the spring, delivering the signatures of nearly 2,000 registered voters supporting the ban. If the council passes the ban Tuesday, Denton would be the first city in Texas to ban fracking inside its city limits. New York’s highest court has upheld city-imposed bans on fracking in Dryden and Middlefield.

More than 170 cities in New York have used their zoning authority, as Dryden did, to ban the drilling technique. In Colorado, several cities have declared a long-term moratorium or banned fracking despite pressure from the governor’s office. In Ohio, some cities moved to regulate fracking under local control they had until the Ohio Legislature started rolling back the authority.

In Pennsylvania, the state legislature made a similar move against local authority. A group of residents sued to strike down the law. The state’s highest court agreed that the law substantially violated due process and people’s reliance on rational zoning regulations.Denton’s proposed ban taps a city’s well-established policing powers, including those that protect the health and safety of residents.

City staff released an advisory Friday saying they will open registration for speakers beginning at 1 p.m. Tuesday. Speakers planning to bring audio or visual materials must submit their material to the city secretary by noon Monday. Resident Cathy McMullen, who helped organize the initiative, said she expects a competing petition to be delivered Tuesday night. Canvassers have been in town for several weeks working for Taylor Petition Management of Colorado Springs, Colorado. Owner Tracy Taylor declined to answer questions about the scope of work being performed in Denton and who had hired his company to circulate a plebiscite petition in support of fracking. “Any questions or comments need to come from Denton Taxpayers for a Strong Economy,” Taylor said.

The group did not return multiple calls for comment. Unlike initiative and referendum petitions, under the charter, a plebiscite petition does not bind the City Council to any action. Originally, workers were being paid $2 per signature for the plebiscite petition. Organizers increased payment last week to $2.50 per signature with bonuses, according to a private Facebook group post obtained by the Denton Record-Chronicle. If a worker averaged more than 50 signatures per day, they would receive another 75 cents per signature at the end of the drive. If they averaged more than 60 signatures, they would be paid $1 per signature bonus. The author of the post, Charles Chavez, also said the company would pay another 50 cents per signature toward hotel and travel expenses and the work had to be finished by Tuesday. Taylor Petition Management is one of about 30 licensed petitioners in Colorado.

Texas does not require petition companies to be licensed, according to Alicia Pierce, a spokeswoman for the Texas secretary of state. If Denton doesn’t approve the ban Tuesday night — leaving the matter for the November ballot instead — Alpine may become the first city in Texas to ban fracking. Residents went before the City Council there on July 1 and requested a ban on hydraulic fracturing. Like Denton, Alpine, near Big Bend, is also a home-rule city.

PEGGY on Twitter at @phwolfeDRC.


The Denton City Council has denied a resident-driven initiative to ban hydraulic fracturing in the city limits

How they voted:

Yes (to deny): Jim Engelbrecht, Joey Hawkins, Greg Johnson, John Ryan, Chris Watts

No: Kevin Roden, Dalton Gregory

What’s next? Under the city charter, the initiative to ban hydraulic fracturing goes to Denton voters. The City Council has called that election for Nov. 4.

Declining Terms of Trade: Why Only The Most Efficient Will Survive The Cost Price Squeeze.

Written by Neeraj Nandurdikar. Posted in Enhanced Energy Recovery & Oil Industry Blog

Nandurdikar Neeraj by Neeraj Nandurdikar

This paper was presented at the OTC Conference Houston, Tx May 2014.

 Neeraj Nandurdikar works for Independent Project Analysis and as a consultant to executives in Fortune 500 companies in Oil and Gas sector. His role is to help executives improve their capital projects performance and manage their capital projects portfolio with focus on very large projects.

He has conducted due diligence work, risk assessment and risk mitigation on project systems, organizational structure reviews and quantified analysis of risks to project budgets, schedule, and production performance. 

Mr. Nandurikar has worked with senior management in oil and gas companies on devising country entry strategies, building portfolio management tools, stakeholder management workshops, root cause analysis.

He has also been involved in business development, relationship building, and P/L experience of over 8 eight years in a business that has delivered more than 10 percent growth y-o-y. His academic qualifications are: MBA Wharton School, Univ of Pennsylvania; MSc Petroleum Engineering Univ of Tulsa; BSc Maharashtra Institute of Technology.


 

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State's oil and gas regulators to investigate whether injection wells induce seismic events

Written by Nick Snow. OGJ Washington Editor. Posted in Enhanced Energy Recovery & Oil Industry Blog

http://www.ogj.com/articles/2014/04/states-to-investigate-whether-injection-wells-induce-seismic-events.html


Nick-Snow-OJC-Journal-EditorWASHINGTON, DC, Apr. 30, 2014

 

By Nick Snow. OGJ Washington Editor

 


 State oil and gas regulators and geologic surveys are forming a working group with the Interstate Oil & Gas Conservation Commission and Groundwater Protection Council to examine whether a relationship exists between injection wells and seismic events in several states, IOGCC said on Apr. 29.

It said the US Environmental Protection Agency estimates there are nearly 150,000 Class II Underground Injection Control (UIC) wells across the country the oil and gas industry uses to dispose of produced water or enhance resource recovery.

State agencies participating in the Induced Seismicity by Injection Work Group will collaborate and share science, research, and practical experience to equip the states with the best decision making tools to evaluate the possible connections between seismic events and injection wells, minimize risk, and enhance appropriate readiness when seismic events occur, according to IOGCC.

Participating states aim to include additional stakeholders as they discuss that issue, including industry, environmental groups, and the scientific community, the Oklahoma City-based association of state oil and gas regulators said.