Dear colleagues, partners, and all involved in Skyline Energy Development LLC activities:
As the year comes to an end, I would like to express special gratitude for the many years of cooperation, trust and support I have received on your behalf. I want our relationship to continue to evolve and become increasingly productive!
Merry Christmas and a Happy New Year!
Oil & Gas Industry Analysis
As previously mentioned in the week of December 10th, the price of oil in the world market had fallen to historical lows and priced below what we had seen in 2009 (WTI – $ 61/bbl, Brent – $ 65/bbl). As it turned out, that was not the last time prices would fall this rapidly and reach record lows. As of December 18th, WTI hit $56/bbl and Brent hit $ 59/bbl. Of course, no one can say with certainty how long this will continue and to what price the oil will drop to, but as soon as supply and demand reach their point of equilibrium and global crisis of “black gold” hit rock bottom, it is safe to say that the demand and price of oil will only grow.
Oil Price Decline: Who Wins, Who Loses?
Upon watching developments in the investment market, as well as on the political level, Skyline Energy decided to increase the volume of investment in order to restart and develop the fields that had previously produced oil and gas wells using the latest fracturing technology. Also, we have actively accelerated the pace of drilling new wells in Louisiana, Texas and Oklahoma. These states are amongst most actively developing regions with developed infrastructure.
Projects with John Ely
I have enjoyed my time working with John Ely, who has a well-earned reputation as a leading expert of hydraulic fracturing with thousands of successfully completed wells in his portfolio:
Texas crude production hits highest its level since 1980
HOUSTON — An index that measures oil and gas activity in Texas has reached a record level, sustained by rising production and wellhead prices, according to its founder’s statement.
“The Texas Petro Index hit the record in February, maintained by daily crude production levels that soared to the state’s highest level since 1980,” says Karr Ingham, the economist who created the index.
