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The Ensight Energy Group, Inc. Blog

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IEA: World oil supply, demand to rebalance by 2020 Posted 10 November 2015 by Admin. Blog, Industry News

The global oil market is expected to rebalance at $80/bbl by 2020, with further increases in price thereafter, as excess oil supplies are shed and demand
picks up, according to the central scenario of the
International Energy Agency’s 2015 World Energy Outlook,
released Nov. 10. read more

Kremlin energy tsar says OPEC may have to ditch its low-price policy within months Posted 10 September 2015 by Admin. Blog, Industry News

The OPEC oil cartel cannot withstand the pain of low crude prices indefinitely and may be forced to abandon its pugnacious bid for market share within months, Russia’s
chief energy official has predicted. Arkady Dvorkovich,
the deputy prime minister, said OPEC producers are suffering
the ricochet effects of their attempt to flush out rivals by
flooding the world with excess output. “I don’t think they really
want to live with low oil prices for a long time. At some point
it is likely that are going to have to change policy. They can
last a few months, to a couple of years,” he told The Telegraph. read more

Oil Surges Most in Six Years on Faster U.S. Economic Growth Posted 28 August 2015 by Admin. Blog, Industry News

Oil jumped the most in more than six years, caught up in a relief rally that swept the globe as the U.S. economy grew more than predicted.

West Texas Intermediate futures rose 10 percent, the biggest
gain since March 2009. U.S. gross domestic product grew at a
3.7 percent annualized rate in the second quarter, exceeding all
estimates of economists surveyed by Bloomberg. The Standard
& Poor’s 500 Index headed for its biggest two-day gain since
2009 as Chinese shares snapped a five-day losing streak. read more

Ross-O’Neil # 1 ready to hit TD. Posted 3 August 2015 by Admin. Blog, EEG Updates

The Ross-O’Neil #1, the first of four wells to be drilled in the EEG Fairway Project, LP, is expected to hit TD on August the 4th. Logging of this well will commence immediately thereafter.
Here are some pictures of the well site.

BHI: US oil rig count rises for first time in 30 weeks Posted 6 July 2015 by Admin. Blog, Industry News

A sudden 12-unit jump in oil-directed rigs during the abbreviated week ended July 2 represented their first rise since Dec. 5, 2014, and helped lift the overall US drilling rig count for a second consecutive
week, according to data from Baker Hughes Inc. read more

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