December 19, 2012
EIA WEEKLY STATUS REPORT - PETROLEUM STOCKS EIAA
(million barrels) 12/14/12 12/07/12 CHANGE 12/16/11
CRUDE OIL (exc spr) 371.6 372.6 -1.0 323.6
GASOLINE............ 219.3 217.1 2.2 218.4
JET FUEL............ 39.3 39.9 -0.6 41.5
DISTILLATE FUEL..... 117.0 118.1 -1.1 139.1
HEATING OIL......... 25.5 27.1 -1.6 39.1
RESIDUAL FUEL....... 37.1 37.5 -0.4 38.7
PROPANE/PROPYLENE... 69.2 71.2 -2.0 56.9
UNFINISHED OILS..... 82.5 80.6 1.9 79.0 OTHER OILS.......... 222.1 222.1 0.0 202.0
TOTAL STOCK (exc spr) 1096.5 1098.5 -1.9 1037.8
STRATEGIC PET.RESERV 695.0 695.0 UNCH 696.0
ALL STOCKS (inc spr) 1791.5 1793.4 -1.9 1733.8
LUBBOCK AVALANCHE-JOURNAL By Ashley Eady
Two years ago, no one had ever heard of the potential of the Cline Shale oil play. Now, the 140-mile-long and 70-
mile-wide oil shale is anticipated to be one of the largest oil plays in American history. Projections for the Cline Shale
contribute to the expectation for the U.S. to become the world leader in oil production by 2017. As the result of
exploration by oil companies Devon Energy and Chesapeake Energy, the Cline Shale is quickly emerging as the richest
oil play known. Other development companies with interests include Firewheel Energy, Laredo Petroleum, Exco, and Callon Petroleum, among others. Devon Energy President John Richels gave a "type curve" for a Cline Shale well — a guess at how much a well would produce over time. He said he expects a total production of 570,000 barrels of oil equivalent, and 85 percent of that would be oil and liquid gas rich. "We are very excited about the Cline," said Andy
Coolidge, Devon Energy's vice president for the Permian Basin. "We expect to deliver highly economic and robust
production growth." Snyder is in the the Cline pocket, which includes parts of Scurry, Borden, Mitchell, Fisher, Nolan
, Sterling and Glasscock counties "It's like Christmas morning. We are all waiting to see how this unfolds," said Bill Lavers, CEO of Develop Snyder. Test wells on the Cline show the shale contains 3.6 million barrels of recoverable oil per square mile, about 30 billion barrels of recoverable oil for the entire shale. Until recently, the Eagle Ford Shale was
considered to be the richest shale play in Texas. The Eagle Ford Shale covers Webb, Dimmit, Lavaca, McMullen,
Karnes, DeWitt and Gonzales counties in the southern portion of the state. Recent advances in horizontal drilling have
opened up the possibility of drilling in areas like the Cline. The Cline's depth is equivalent to 10 Eagle Ford Shales
stacked on top of each other. Pete Stark, an independent analyst from Englewood, Co., and regarded by the industry as
an expert on global oil and gas resources, said, "We haven't seen billion-barrel numbers onshore since Prudhoe Bay,
Alaska, in the '70s."
Also, click on the link below:
http://www.rbnenergy.com/the-stocks-of-magellan
FJM7T-8DK2T-CMF9P-66HPG-YX99C
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