News Pulse

Rare Petro is committed to keeping the pulse on the latest news surrounding our industries. Whether it’s the monthly basin breakdown or the weekly periodical series, Rare Petro is sure to keep you informed.

OPECs Expectations

OPECs Expectations

uts in order to help stabilize prices. With demand returning and commodity prices soaring, experts question how long these cuts will last.

Natural Gas Overtakes Crude for Top Energy

Natural Gas Overtakes Crude for Top Energy

Global oil demand will reach a new high in 2025, barely eclipsing its 2019 record, but natural gas will overtake oil in 2032 and retain the top spot among primary energy sources through 2050, according to the latest Energy Transition Outlook 2021 released by DNV. As natural gas fills the demand gap left as coal demand falls by 62% through 2050, the Energy Transition Outlook still predicts the energy transition is moving too slowly to achieve the goal of slowing global warming sufficiently, unless more dramatic measures are taken.

Permian Basin News Pulse July 2021

Permian Basin News Pulse July 2021

The Permian Basin | July 2021 Field Overview Located in West Texas, the Permian Basin has been producing oil for over 100 years. It leads the US in oil production and estimates put 43 billion bbl of oil still in the Permian; 80% of those reserves are believed to be at...

DJ/Niobrara News Pulse July 2021

DJ/Niobrara News Pulse July 2021

The DJ/Niobrara Basin| July 2021 Field Overview Located mainly in the Northeast of Colorado, the Denver-Julesburg Basin consists of five main oil-producing formations: Niobrara sections A-C, Codell, and Greenhorn. These five plays produce over 90% of Colorado's...

Eagle Ford News Pulse July 2021

Eagle Ford News Pulse July 2021

Eagle Ford Basin | July 2021 Field Overview A heavy shale play, the Eagle Ford basin is located east of the Permian, stretching from Dallas to San Antonio. Primarily a gas field with smaller oil plays, it boasts proven reserves of 3.37 billion bbl of oil and 2.5 TCF...

Code Red For Humanity

Code Red For Humanity

change trends a “code red for humanity.” Scientists noted that it is unequivocal that human influence has warmed the atmosphere, ocean, and land; finding that human activity has increased the global average temperature by about 2 degrees Fahrenheit since the Industrial Revolution of the 19th century. While UN Secretary-general Antonio Guterres noted this report must sound a death knell for coal and fossil fuels before they destroy our planet, there is a little hope. Since the IPCC’s last big report in 2013, countries have done a better job in curbing carbon emissions, but they need to speed up those cuts dramatically, or it will be nearly impossible to keep global temps from spiraling higher.

How Does the Olympic Torch Work?

How Does the Olympic Torch Work?

The Olympic torch has been used in every Olympics since the modern Games began in 1896. This year, Japan used using the torch to light the cauldron during the opening ceremony of the 2020 Summer Olympics Japan. The torch is lit in Olympia, Greece, where the first...

Throttling The EV Transition

Throttling The EV Transition

On Thursday, President Joe Biden signed an executive order setting a target to make 50 percent of all new vehicles sold in the United States zero-emission vehicles by 2030, in a move supported by Detroit’s Big Three Automakers – General Motors, Stellantis, and Ford Motor. The zero-emission vehicle target is strategically aligned with current de-carbonization goals but also with the targets of major U.S. automakers who are investing billions in EV production in anticipation of a shift in buyer behavior, but challenges remain.

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Call It A Comeback

Call It A Comeback

In 2020, total consumption of fossil fuels in the United States including petroleum, natural gas, and coal, fell to 72.9 quadrillion British thermal units, down 9% from 2019 and the lowest level since 1991. Last year marked the largest annual decrease in U.S. fossil fuel consumption in both absolute and percentage terms since at least 1949, the earliest year records have been kept. Economic responses to the COVID-19 pandemic in 2020, including a 15% decrease in energy consumption in the U.S. transportation sector, drove much of the decline. But, with record declines in U.S. crude oil inventories falling by 6.9 million barrels and total motor gasoline inventories decreasing by 6.1 million barrels from the previous week, it appears this trend may be reversing.

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Disagreements in the Cartel

Disagreements in the Cartel

It was a phenomenal week in the oil and gas industry with prices hitting a three-year high, rig counts soaring, and exploration expanding. Fuelled by an accelerated uptick in crude oil demand as the world sets sights on a return to pre-crisis times, oil and gas companies are set for record-breaking free cash flows this summer.

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Good Times in Oil Country

Good Times in Oil Country

It was a phenomenal week in the oil and gas industry with prices hitting a three-year high, rig counts soaring, and exploration expanding. Fuelled by an accelerated uptick in crude oil demand as the world sets sights on a return to pre-crisis times, oil and gas companies are set for record-breaking free cash flows this summer.

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Historic Droughts and Electricity Security

Historic Droughts and Electricity Security

Record-toppling, early-season heat waves well into the triple digits have spread across the western portion of the United States straining electricity grids as a severe drought constricts hydroelectric power generation. As the summer months continue, electricity security is beginning to bear its ugly face yet again as states like California and Texas brace for a difficult season.

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Tensions Rising Like Thermometers

Tensions Rising Like Thermometers

Judge Terry A. Doughty, a federal judge in Louisiana, issued a preliminary injunction blocking the Biden Administration from pausing new oil and gas leases on federal land. The action comes after the administration suspended federal leasing activities in January to review the program’s environmental costs, a move widely seen as Biden’s first step to delivering on climate change campaign promises. But Doughty said the administration does not have the legal right to stop leasing federal territory for oil and gas production without approval from Congress, arguing the suspension was against the law and would cause economic damage and kill jobs. While U.S. Interior Secretary Deb Haaland said her department was reviewing the decision, tensions are beginning to rise with the summer heat.

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