• 4 minutes Oil Price Editorial: Beware Of Saudi Oil Tanker Sabotage Stories
  • 6 minutes UAE says four vessels subjected to 'sabotage' near Fujairah port
  • 9 minutes Why is Strait of Hormuz the World's Most Important Oil Artery
  • 13 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 33 mins Magic of Shale: EXPORTS!! Crude Exporters Navigate Gulf Coast Terminal Constraints
  • 33 mins Wonders of Shale- Gas,bringing investments and jobs to the US
  • 3 hours Rural and Conservative: Polish Towns Go 'LGBT free' Ahead Of Bitter European Election Campaign
  • 50 mins IMO2020 To scrub or not to scrub
  • 3 hours Trump bogged down in Mideast quagmire. US spent $Trillions, lost Thousands of lives, and lost goodwill. FOR WHAT? US interests ? WHAT INTEREST ? To get Jared (Frisch School 2.8 GPA) a Mideast win with peace deal ? China greatest threat next 50 years.
  • 8 hours Balancing Act---Sanctions, Venezuela, Trade War and Demand
  • 2 hours Compensation For A Trade War: Argentina’s Financial Crisis Creates An Opportunity For China
  • 1 hour Crude oil?
  • 4 hours Greenpeace Blocks BP HQ
  • 2 hours Shale to be profitable in 2019!!!
  • 10 hours DUG Rockies: Plenty Of Promise, Despite The Politics
  • 34 mins California's Oil Industry Collapses Despite Shale Boom
  • 14 hours Get First Access To The Oilprice App!
  • 2 hours China Downplays Chances For Trade Talks While U.S. Plays ‘Little Tricks’

The 3 Most Important Numbers in Energy

The Insider’s weekly run-down of critical figures and happenings from around the energy world.

$1.34. Value of proved reserves created in 2013 for each $1 spent by Gulf of Mexico oil developer EPL Oil & Gas (NYSE: EPL).

The company’s new reserves figures show a very satisfying 34% return on investment from its capital spending last year on drilling, acquisitions and development. A much higher figure than those being put in by other firms in the U.S. petroleum space.

Such returns on investment are beating even hot onshore shale plays. In 2013, major shale player Chesapeake Energy (NYSE: CHK) generated $1.20 in proved reserves for every dollar spent.

The secret to EPL’s big performance? Operating in the low-cost Gulf of Mexico Shelf, where reduced expenses are helping E&Ps realize industry-leading success—even as investors look elsewhere.

Expect that focus to change as the big returns from GOM drilling continue.  

15.5%. Further to the news above—the percentage increase in operating costs for oil and gas developers in the U.K. offshore last year, according to recent reports from industry group Oil & Gas U.K.

This is a big jump in expenses for offshore drillers. With total opex in 2013 coming in at a total $14.8 billion.

Oil & Gas U.K. expects the trend to continue in 2014—projecting a further 8% rise in costs for the coming year.

That’s a significant bite…




Oilprice - The No. 1 Source for Oil & Energy News