The Oil And Gas Industry

The passage I will analyze in this close reading is from the works of Theodore

Halliburton is one of the largest Drilling companies in the world. This company has over 50,000 employees and operates in more then 70 Countries including North America, Central & South America, Africa, Europe, Middle East, Asia, and Oceania. Halliburton consists of two company divisions-(1) Drilling and Evaluation and (2) Completion and Protection This paper will go over the various aspects of Management planning within Halliburton.

Oil was first thought to be discovered in the state of Louisiana in 1868 by the Louisiana Oil and Coal Company fifteen miles west of Lake Charles. However, the Louisiana Oil and Coal Company was unsuccessful at drilling oil but the company did find extensive sulfur deposits. (Louisiana Mid-Continent Oil and Gas Association. (n.d.). Retrieved October 07, 2016, from http://www.lmoga.com/resources/oil-gas-101/history-of-the-industry/) Oil was first discovered in Louisiana on September 21, 1901. (Louisiana Mid-Continent Oil and Gas Association. (n.d.). Retrieved October 07, 2016, from http://www.lmoga.com/resources/oil-gas-101/history-of-the-industry/)

The purpose of this research is to identify the impact of the petroleum industry on Odessa, Texas during the 20th century. The main objective of this research is to explain how the massive growth of the petroleum industry in Odessa came about and the social changes that had occurred as a result of the thriving oil industry. Beginning in North Texas, the boom then spread to West Texas when the United States became desperate for oil during and after World War I and II. This research drew upon primary and secondary sources such as oral interviews, memoirs, articles and books from the local University library. Upon examination of these sources it becomes clear that the discovery of oil in Odessa, Texas became the foundation for the towns economic

This report presents information regarding the industry, the primary operator of oil and gas field properties. The industry fuels its key buyers, the Natural Gas Distribution (22121) and the Petroleum Refining (32411) industries, with crude oil and natural gas. The industry continuously battles a shortage of available oil. In addition, many major oil fields have been in use for decades, slowly waning. Currently, the industry grosses among the most profitable in the US despite these and similar obstacles. The benefits of investing here

Monopolies have been around America since its beginning. Some of the first monopolies are the reason for America’s advancement that lead us to become one of the greatest countries in the world. But, what is a monopoly? The book, Economics: Private and Public Choice defined it as “a market structure characterized by (1) a single seller of a well-defined product for which there are no good substitutes and (2) high barriers to the entry of any other firms into the market for that product,” (Gwartney, Glossary). Though, the laws of the land are in place to help the government ensure that big business will not control certain industries again. Looking forward to present time, we are now seeing similarities between the big business monopolies of

In 1859 Edwin Drake and E. B. Bowditch of the Seneca Oil Company drilled the first commercial oil well in the United States in Titusville, Pennsylvania. The well produces about 500 gallons of oil a day and over time has increased. Soon, similar wells all over western Pennsylvania were providing crude oil for kerosene production that was needed to fuel the nation 's streetlights and house lamps. “The lighter boiling component, gasoline, was discarded, since it had no market. There are historical reports that "waste" gasoline, which had been dumped into rivers, sometimes caught fire. In 1892 the first gasoline-powered engines, for both car and tractor, were developed: This soon provided a market for the once useless substance, gasoline”

Chesapeake Energy operates under the natural oil and gas industry. While government’s economic data may separate operations within this industry, the industry covers a broad range of activities and is separated into three segments: upstream, downstream, and midstream. Activities within this industry by oil and gas companies include exploring for crude oil or natural gas, drilling into wells, and such transportation of oil and natural gas. Just as any other industry, the gas and oil industry have major risks that companies take into consideration and extensively consider. These risks have the capability of drastically affecting operations, and ultimately the profitability and financial stability of a company. Three top risks related to oil and gas companies are volatile prices of oil and gas, regulatory changes, and finding new reserves or extending prior ones.

Canada is the fifth-biggest oil producer on the planet, and has been manufacturing traditional unrefined petroleum for over a century. Canada’s oil industry delivers more than 3.6 million barrels of oil every day and is a part of the worldwide crude oil market. Crude oil stands out as the most actively traded commodity in the world. As a result of this, oil prices change day by day in light of changing conditions that influence demand and supply. Oil meets nearly 40% of Canada’s overall energy requirements through a range of products made out of refining. All things considered, refining crude oil yields the subsequent assortment of products:

The 1970s is a significant period in the U.S. oil and gas history. American oil production was declining steadily and imports from mainly Arab producers were relied on to shore up the shortfall. The Arab states, which constituted the majority of the Organization of the Petroleum Exporting Countries (OPEC), imposed an oil embargo in October 1973 against the U.S. and a number of other industrialized nations that backed Israel during the 1973 Arab-Israeli War. Not only did the sanction ban petroleum exports to the target nations, it also introduced cuts in oil production. As a result, between 1972 and 1982, oil prices increased more than tenfold.

As a result, LMIC administered a special survey to collect information specific to oil and gas activity focused on employment tied to well-pad operations, and supplemented it with data from established sources. The figures published in this report provide a detailed view of North Dakota's oil and gas sector at the State, county, and city levels. This report only examines employment designated as necessary for the extraction of oil and gas, and does not include ancillary employment (e.g. related to food, housing, health care, government,

The U.S. Energy Sector is one of the most critical infrastructures, essential for the functionality of the U.S. as we know it. Why is that you might ask. This is because it provides support and keeps all the other critical infrastructures running. Without the Energy Sector the country might as well shut down and be of no use. With the energy sector affected, there would be immediate panic and a visible effect on the economy and its people. So, let’s dive in, what is the Energy Sector all about?

Engineering is key in modern society today and we strive to make everything better and better each day. One of the most highly credited fields of engineering would have to be none other than Petroleum Engineering. An education in petroleum engineering provides a wide spectrum of specialties to keep the industry running. These are reservoir engineering, drilling engineering, and production engineering to name a few. A reservoir engineer determines the oil in place and devises the most appropriate technology to produce the oil within the prevailing economic environment. Advanced reservoir simulators provide computer models that could predict the performance of the recovery techniques over a period of many years in future. Reservoir engineers

Millions of people are now getting on-site and off-site job opportunities. As this industry continues to grow, which it will, even more jobs will become available. These job opportunities will give a chance for people to live the so-called “American Dream”. These jobs offer twice the average American salary with benefits. The great thing about these jobs is that they do not demand a four-year college degree. There are programs now designed both online and in school that can have you prepared for drilling in less than two years. The U.S. Bureau of Labor Statistics “projected an employment opportunity increase for petroleum engineers of 18% between 2008 and 2018. Career openings span the globe with some of the highest salaries offered to entry-level engineers with bachelor 's degrees.” (http://education-portal.com/articles/Petroleum_Engineering_Training_and_Degree_Program_Information.html). Natural gas drilling has provided futures for so many people in our nation, but natural gas also has an impact on the rest of the world as well.

The construction industry like many other industries has changed and evolved with time. It is the fourth largest contributor to Australia’s GDP and has played a major role in determining economic growth of the country. In terms of employment, the industry has employed 9% of the Australian workforce making it the fourth largest industry (ABS data).