2016 May-June OILMAN Publisher 

Oil Play See-Saw

Letter from the Publisher Well, what a difference an issue makes. The month of April alone saw a 20% rise in the price of WTI Crude closing at around $45 a barrel which is a whopping 77% off the mid-February lows just north of $26 a barrel. During the plummet an expert said that the oil market has as much… Read More
2016 May-June OILMAN Pride 

Special Thanks to Story Sloane III

Special thanks to Story Sloane III for supplying all the historic photos we publish. We love seeing what our industry was like for our fathers and grandfathers. Contact Story for reprints of all sizes for your office or home décor. Photo courtesy of The Sloane Gallery, Houston, TX. Image for sale at www.sloanegallery.com or call 281-496-2212 Read More
2016 May-June Features 

Rebalancing of Global Oil Supply and Demand

With the price of oil set by world oil supply and demand, watching not only how much oil countries are producing and using today, but also what those numbers will look like in the future is a critical practice for industry members. The current thinking is that demand has increased, somewhat, and supply could – depending on the approach in… Read More
2016 May-June Louisiana 

Don’t Cut Corners on Comp

If you work in the oil and gas industry, then you fully understand it is hard work with many hazards that can cause injuries and deaths in the blink of an eye. During an economic downturn like the industry is experiencing now, with over 250,000 jobs cut in 2015 and more anticipated cuts this year, it is essential that the… Read More
2016 May-June 

Understanding SEC Rules on Reliable Technology in Reserves Reporting

In its 2008 modernization of reserves reporting rules, the U.S. Securities and Exchange Commission (SEC) introduced the idea of “reliable technology” as the basis for procedures proposed to estimate reserves. Reliable technology must be based on sound scientific and engineering principles, and must have been found in practice to lead to the correct conclusion the vast majority of the time… Read More
2016 May-June Alex Mills 

US Oil Imports Hit 45-Year Low

U.S. dependency on foreign oil has been a major issue in the energy debate for many years. No one knows when the issue first gained notoriety but it really hit home in the 1970s with the rise of the Organization of Petroleum Exporting Countries (OPEC), increases in crude oil and gasoline prices, an exorbitant inflation rate, and lines at gasoline… Read More
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