To understand changes in returns for the shareholders of the affected companies, we must first understand the scale of the economic consequences of the oil spill. Therefore, I will examine the consequences of the oil spill and the reactions of the parties involved, such as BP, the government, the states involved, the fisheries and tourism industry and other parties affected by the oil spill. These consequences include environmental damage, litigation, cleaning costs and stricter
| Patterson-uti energy(Nasdaq: pten) | BUY | EPS (2012) = $2.50 | Target Price (2012): $28.00 | P/E (ttm) = 8.53 | Qualitative Risk Assessment:Above Average Risk | | Report Date | March 28, 2012 | | Recent Price | $17.55 | | 52-Week Range | $15.06 – $34.09 | | 52-Week %Δ | -55.82% | | Avg. Vol. (3m) | 4.102,740 | | Shares Out. (mrq) | 183,295,000 | | Sector | Basic Materials | | Industry | Oil & Gas Drilling & Exploration | Investment ThesisPatterson-UTI Energy, Inc. (PTEN) is the second-largest land-based oil and gas drilling and exploration company in North America. Patterson operates within three business segments: Contract Drilling, Pressure Pumping and Oil and Natural Gas Exploration and Production.
Permian Basin Introduction The Permian Basin oil field is in west Texas and southeastern New Mexico. This deposit is quite large as it is about 250 miles wide and 300 miles long. Within the Permian are several shale areas which have several different names: Wolfcamp Shale, Wolfberry Trend, Wolfcamp Trend, Wolfcamp Formation,Wolfcamp Oil Play, Wolfcamp Oil Shale, Wolfcamp Oil Field, and Wolfberry. All of these terms refer to basically the same area. The history of the Permian Basin extends nearly a century as one of the oldest and most prolific hydrocarbon-producing basins in the U.S. One of the most prolific US oil plays, the Permian Basin is home to 20 of the country’s top 100 producing oil fields, a remarkable recovery after many in the
It is also contributed to United States oil industry by seventeenth percent of produce oil, as said by (Pam Barrett pg. 43) “Oil is by far the largest of Alaska’s industries”, and (R. Warren Anderson ) “Former Secretary of the Interior Gale Norton summed up its success in 2003 that Today the pipeline produces 17 percent of our domestic petroleum. It has pumped nearly 14 billion barrels of oil and $400 billion into our economy”, it gave jobs for several thousand people, Alyeska workers and sub-contractors. The pipeline has help Alaska which is the most heavily tax state to the most tax-free state. Alaska has profit more than half of the income from the pipeline has produces and the other profit goes to the United States.
Mauna Loa has an estimated time of six years between each eruption, but on March 25, 2009 The Hawaiian Volcano Observatory celebrated the 25th anniversary of the volcanoes last eruption in 1984. Mauna Loa is a shield volcano, the world’s largest, but although it’s active history the volcano has been quite for 2 and half decades. The crater at the mountains summit (Moku’aweoweo) is the main reason Mauna Loa has been erupting for 100,000 years if not more. Mauna Loa produces many types of flows including a’a, pahoehoe and lesser
John: In 1859, I went into commission business with a partner, Maurice B. Clark. Me: When did you start to deal with oil? John: My partner Clark and I built an oil refinery in 1863. Me: How did the oil refinery work out?
One hundred year of oil: Oil was found at Masjed Soleyman in southwestern Iran on May 26, 1908, and three years later was piped down to a newly built refinery at Abadan on the Iranian side of the Shatt alrab, not many miles below Basra. Its global importance was immediately recognized, not just by the Admiralty in London, looking for new sources of supply for its oil-fired battleships, but in other European capitals as well leading to a brief British-German-Turkish skirmish for control of the pipeline at the start of World War I. How oil is formed: Millions of years ago, plants and animals living in the ocean absorbed energy from the sun and stored this energy in their bodies in the form of carbon. As these animals died, their bodies sank to the bottom of the ocean where they were covered with layers of sediment deposits. OPEC: OPEC's objective is to co-ordinate and unify petroleum policies among Member Countries, in order to secure fair and stable prices for petroleum producers; an efficient, economic and regular supply of petroleum to consuming nations; and a fair return on capital to those investing in the industry.
In 1902, Abdul Aziz Al-Saud regain Riyadh from the Al-Rashid and in the following thirty years united the numerous and disparate tribes into one nation. King Abdulaziz combined Al-Hasa, the rest of Nejd, and the Hijaz between 1913 and 1926. In 1932, these regions were unified as the Kingdom of Saudi Arabia. The foundation of the modern Kingdom of Saudi Arabia took place on September 23, 1932, a day that is commemorated as National Day. Discovery of oil Begins in the 1930s, the ARAMCO consortium, including Standard Oil of California and other firms, that had gotten oil concessions in Saudi Arabia, discovered huge quantities of petroleum.
Lima is the country’s capital and chief commercial center. The population of Peru is 27 million. Lima is the capital and has a population of 8 million. Its highlands account for 36 percent of the remainder. The primary resources of Peru include petroleum, found on the northwestern coast and in the Amazon Basin; cooper in northwestern Peru; and substantial deposit of silver, iron, ore, gold, lead, and zinc throughout the cordilleras.
When 20th century begins, Russia's oil production,is almost half of the production of world and influenced overglobal markets. About 200 refineries functioned in the Baku by 1884. As a consequence of these early progress, the Russia appeared as the world's oldest inheritance of environmental negligenceand oil pollution. The first ever well were drilled with smashing toolsto the depth of 21 meters for oil exploration in 1846 in Baku. Ludvig Nobel and hiscompany "revolutionized oil transport" by recruiting the first everoil tanker and introducing the tanker on Caspian Seain 1878.