Society of Petroleum Engineers
September Issue
August 30, 2012
Society of Petroleum Engineers Powder River Basin Section Newsletter
Tuesday, September 11th, 2012 Camplex Park Shelter #3 Dinner: 6 pm $10.00 Per Person Lecturer: None Meeting Abstract: No Speaker in September.
We are having a Kick Off Barbeque! 2012-2013 Meeting Dates Tuesday, September 11th BBQ at Camplex Tuesday, October 16th Mark Pearson, DL Tuesday, November 13th George Stewart, Weatherford Tuesday, December 11th Christmas Party Tuesday, January 8th Tuesday, February 5th Phil Rae, DL Tuesday, March 19th Subhash Shah, DL Tuesday, April 9th Tuesday, May 14th Scholarship Dinner
Meeting Sponsor: None Thank you!
Everyone is welcome to attend. The barbeque is in place of a lecturer on Tuesday September 11th, 6 pm until 8 pm at the Camplex shelter #3. Steak and chicken with fixings is on the menu. The cost is $10/person.
Please RSVP BY SEPTEMBER 7th with you choice of steak or chicken to Tammie Wrampe at [email protected] or 307-689-7089.
2012-13 Powder River Section Board Members Chairman: Mike Holzer … [email protected] Past Chairman: JC Reynolds … [email protected] Program Chairman: Jason Fisketjon … [email protected] Secretary: Tammie Wrampe … [email protected] Treasurer: Sara Hannegan … [email protected] Scholarship/Education Chairman: Bob Christofferson … [email protected] Crawfish Chairman: Greg Greenough … [email protected] Golf Tournament Chairman: Phil Jordan…. [email protected] Newsletter Editor: Sara Hannegan…[email protected]
September Issue
August 30, 2012
Society of Petroleum Engineers Powder River Basin Section Newsletter
Tuesday, September 11th, 2012 Camplex Park Shelter #3 Dinner: 6 pm $10.00 Per Person
Future US Gas Export Prices May Not Be As Great As Originally Thought By Caroline Evans, Hart Energy, August 22, 2012
A study from Rice University’s James Baker Institute for Public Policy predicts LNG exports from the US may not be as large as anticipated.
The impact of liquid natural gas exports on domestic natural gas prices would likely not be impactful, according to a new study from Rice University’s James Baker Institute for Public Policy. The paper, authored by Kenneth Medlock, the institute’s Baker Fellow in Energy and Resource Economics, also predicts that the long-term volume of LNG exports would not likely be very large. Continued...
September Issue
August 30, 2012
Society of Petroleum Engineers Powder River Basin Section Newsletter
Tuesday, September 11th, 2012 Camplex Park Shelter #3 Dinner: 6 pm $10.00 Per Person
Future US Gas Export Prices May Not Be As Great As Originally Thought, Cont. By Caroline Evans, Hart Energy, August 22, 2012
The study, “U.S. LNG Exports: Truth and Consequence,” concludes that the model that has been presented to policymakers is flawed because it assumes a certain volume of exports rather than recognizing that international market response will ultimately limit the amount of LNG exported. “The question before policymakers is one of licensing a capability, not licensing a fixed volume,” Medlock said. “Therefore, this issue must be viewed in the context of international trade if informed policy decisions are to be made.” As an example, Medlock points to the shutdown of all of Japan’s nuclear reactors in the wake of the Fukushima Daiichi disaster in 2011, causing LNG price indexes to jump markedly. Continued…
September Issue
August 30, 2012
Society of Petroleum Engineers Powder River Basin Section Newsletter
Tuesday, September 11th, 2012 Camplex Park Shelter #3 Dinner: 6 pm $10.00 Per Person
September Issue
August 30, 2012
Society of Petroleum Engineers Powder River Basin Section Newsletter
Tuesday, September 11th, 2012 Camplex Park Shelter #3 Dinner: 6 pm $10.00 Per Person
Future US Gas Export Prices May Not Be As Great As Originally Thought, Cont. By Caroline Evans, Hart Energy, August 22, 2012
“The implication is that the price difference that currently exists in Asia and the rest of the world is at least partially the result of short-term constraints, or transitory factors, meaning they could not be expected to persist,” Medlock said. “In fact, the pre-Fukushima pricing relationship ... can be expected to re-emerge as both new LNG delivery capacity is brought online, new sources of supply are developed and, in particular, if Japan’s nuclear reactors are restarted.” Furthermore, the study argues that although LNG gas prices abroad are currently high, the next three decades are not projected to be profitable for US LNG exports. The study based this observation on growing competition in countries with new shale and pipeline developments, including China, Russia, Australia, and Argentina. Continued…
WPX Energy Rocky Mountain, LLC
Larry Staten Sales Representative 2602 East 2nd Street Gillette, WY 82718 Office (307) 686-4914 ∙ Fax (307) 686-4917 Cell (307) 247-5985 ∙ Toll Free 1-888-909-4300 [email protected]
September Issue
August 30, 2012
Society of Petroleum Engineers Powder River Basin Section Newsletter
Tuesday, September 11th, 2012 Camplex Park Shelter #3 Dinner: 6 pm $10.00 Per Person
September Issue
August 30, 2012
Society of Petroleum Engineers Powder River Basin Section Newsletter
Tuesday, September 11th, 2012 Camplex Park Shelter #3 Dinner: 6 pm $10.00 Per Person
Future US Gas Export Prices May Not Be As Great As Originally Thought, Cont. By Caroline Evans, Hart Energy, August 22, 2012
“If shale opportunities in Europe and Asia, and other sources of imported pipeline and LNG supply can be brought to market, then growth in global production will put downward pressure on prices everywhere,” Medlock said. Medlock’s advice to policymakers: “The implication for policy is simple: Market responses will ultimately limit export volumes. The hand-wringing about domestic price impacts is based largely on an incomplete assessment of what should be addressed as an international trade question.” Contact the author, Caroline Evans, at [email protected].
September Issue
August 30, 2012
Society of Petroleum Engineers Powder River Basin Section Newsletter
Tuesday, September 11th, 2012 Camplex Park Shelter #3 Dinner: 6 pm $10.00 Per Person
Powder River Basin Section Newsletter
PO Box 3977 Gillette, W 82717
Editor: Sara Hannegan Tel: 307-689-3406 E-mail: [email protected]
We’re On The Web! http://connect.spe.org/powderriverbasin/Home/
August 30, 2012
Society of Petroleum Engineers Powder River Basin Section Newsletter
Tuesday, September 11th, 2012 Camplex Park Shelter #3 Dinner: 6 pm $10.00 Per Person Lecturer: None Meeting Abstract: No Speaker in September.
We are having a Kick Off Barbeque! 2012-2013 Meeting Dates Tuesday, September 11th BBQ at Camplex Tuesday, October 16th Mark Pearson, DL Tuesday, November 13th George Stewart, Weatherford Tuesday, December 11th Christmas Party Tuesday, January 8th Tuesday, February 5th Phil Rae, DL Tuesday, March 19th Subhash Shah, DL Tuesday, April 9th Tuesday, May 14th Scholarship Dinner
Meeting Sponsor: None Thank you!
Everyone is welcome to attend. The barbeque is in place of a lecturer on Tuesday September 11th, 6 pm until 8 pm at the Camplex shelter #3. Steak and chicken with fixings is on the menu. The cost is $10/person.
Please RSVP BY SEPTEMBER 7th with you choice of steak or chicken to Tammie Wrampe at [email protected] or 307-689-7089.
2012-13 Powder River Section Board Members Chairman: Mike Holzer … [email protected] Past Chairman: JC Reynolds … [email protected] Program Chairman: Jason Fisketjon … [email protected] Secretary: Tammie Wrampe … [email protected] Treasurer: Sara Hannegan … [email protected] Scholarship/Education Chairman: Bob Christofferson … [email protected] Crawfish Chairman: Greg Greenough … [email protected] Golf Tournament Chairman: Phil Jordan…. [email protected] Newsletter Editor: Sara Hannegan…[email protected]
September Issue
August 30, 2012
Society of Petroleum Engineers Powder River Basin Section Newsletter
Tuesday, September 11th, 2012 Camplex Park Shelter #3 Dinner: 6 pm $10.00 Per Person
Future US Gas Export Prices May Not Be As Great As Originally Thought By Caroline Evans, Hart Energy, August 22, 2012
A study from Rice University’s James Baker Institute for Public Policy predicts LNG exports from the US may not be as large as anticipated.
The impact of liquid natural gas exports on domestic natural gas prices would likely not be impactful, according to a new study from Rice University’s James Baker Institute for Public Policy. The paper, authored by Kenneth Medlock, the institute’s Baker Fellow in Energy and Resource Economics, also predicts that the long-term volume of LNG exports would not likely be very large. Continued...
September Issue
August 30, 2012
Society of Petroleum Engineers Powder River Basin Section Newsletter
Tuesday, September 11th, 2012 Camplex Park Shelter #3 Dinner: 6 pm $10.00 Per Person
Future US Gas Export Prices May Not Be As Great As Originally Thought, Cont. By Caroline Evans, Hart Energy, August 22, 2012
The study, “U.S. LNG Exports: Truth and Consequence,” concludes that the model that has been presented to policymakers is flawed because it assumes a certain volume of exports rather than recognizing that international market response will ultimately limit the amount of LNG exported. “The question before policymakers is one of licensing a capability, not licensing a fixed volume,” Medlock said. “Therefore, this issue must be viewed in the context of international trade if informed policy decisions are to be made.” As an example, Medlock points to the shutdown of all of Japan’s nuclear reactors in the wake of the Fukushima Daiichi disaster in 2011, causing LNG price indexes to jump markedly. Continued…
September Issue
August 30, 2012
Society of Petroleum Engineers Powder River Basin Section Newsletter
Tuesday, September 11th, 2012 Camplex Park Shelter #3 Dinner: 6 pm $10.00 Per Person
September Issue
August 30, 2012
Society of Petroleum Engineers Powder River Basin Section Newsletter
Tuesday, September 11th, 2012 Camplex Park Shelter #3 Dinner: 6 pm $10.00 Per Person
Future US Gas Export Prices May Not Be As Great As Originally Thought, Cont. By Caroline Evans, Hart Energy, August 22, 2012
“The implication is that the price difference that currently exists in Asia and the rest of the world is at least partially the result of short-term constraints, or transitory factors, meaning they could not be expected to persist,” Medlock said. “In fact, the pre-Fukushima pricing relationship ... can be expected to re-emerge as both new LNG delivery capacity is brought online, new sources of supply are developed and, in particular, if Japan’s nuclear reactors are restarted.” Furthermore, the study argues that although LNG gas prices abroad are currently high, the next three decades are not projected to be profitable for US LNG exports. The study based this observation on growing competition in countries with new shale and pipeline developments, including China, Russia, Australia, and Argentina. Continued…
WPX Energy Rocky Mountain, LLC
Larry Staten Sales Representative 2602 East 2nd Street Gillette, WY 82718 Office (307) 686-4914 ∙ Fax (307) 686-4917 Cell (307) 247-5985 ∙ Toll Free 1-888-909-4300 [email protected]
September Issue
August 30, 2012
Society of Petroleum Engineers Powder River Basin Section Newsletter
Tuesday, September 11th, 2012 Camplex Park Shelter #3 Dinner: 6 pm $10.00 Per Person
September Issue
August 30, 2012
Society of Petroleum Engineers Powder River Basin Section Newsletter
Tuesday, September 11th, 2012 Camplex Park Shelter #3 Dinner: 6 pm $10.00 Per Person
Future US Gas Export Prices May Not Be As Great As Originally Thought, Cont. By Caroline Evans, Hart Energy, August 22, 2012
“If shale opportunities in Europe and Asia, and other sources of imported pipeline and LNG supply can be brought to market, then growth in global production will put downward pressure on prices everywhere,” Medlock said. Medlock’s advice to policymakers: “The implication for policy is simple: Market responses will ultimately limit export volumes. The hand-wringing about domestic price impacts is based largely on an incomplete assessment of what should be addressed as an international trade question.” Contact the author, Caroline Evans, at [email protected].
September Issue
August 30, 2012
Society of Petroleum Engineers Powder River Basin Section Newsletter
Tuesday, September 11th, 2012 Camplex Park Shelter #3 Dinner: 6 pm $10.00 Per Person
Powder River Basin Section Newsletter
PO Box 3977 Gillette, W 82717
Editor: Sara Hannegan Tel: 307-689-3406 E-mail: [email protected]
We’re On The Web! http://connect.spe.org/powderriverbasin/Home/
