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Warburg Pincus Commits Up to $500 Million to Oil and Gas Startup

Warburg Pincus is committing up to $500 million to back Independence Resources Management, an oil and gas exploration and production startup.

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Oil Industry Evolution

The oil industry has a rich and deep history that continues to evolve everyday. Oil has been around for millions of years, remaining beneath the earth until relatively recently. For thousands of year, oil was used as a lubricant, an adhesive, and often for medical use. It wasn’t until the early 19th century that large-scale […]

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Natural Gas is Cheap

“The price of gas has risen rapidly this year.” “The price of gas has fallen to the lowest level in a decade.” According to the New York Times both of those statements are true. The first refers to gasoline, the second to natural gas. The two products serve very different markets, while natural gas has […]

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Why Drilling?

Oil is used because of its versatility, meaning, that it can be broken down into many useful products. Oil has high energy density, which is why we use oil in locomotives. Oil is located deep beneath the ground, so why do we go through the trouble and danger to extract it from deep underground? Because we have become dependent on oil as our number for form of energy.

Oil is extracted from the ground by a number of different drilling methods. Drilling must take place in areas over oil deposits, which unfortunately are located in prime and/or dangerous real-estate. From coast to cost we’ve had to build our oil extraction centers in areas with difficult environmental conditions, dangerously unstable politics, coveted tourist sites, or combinations of all of those factors.

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BP Sells More Oil Fields

Months after its spill in the Gulf, BP PLC continued to trim its worldwide portfolio. Recently, BP announced the sale of its share in a dwindling deep-water oil field in the Gulf of Mexico to Stone Energy Corp. for $204 million. BP’s original plan was to shed assets by accumulating $30 billion to fund costs […]

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Oil Prices Drop to $98 per Barrel

On Friday, oil prices dropped to $98 a barrel, which ended a week of volatility coinciding with Europe’s concerns about rising oil prices and increased debt. Higher oil prices would have also affected the U.S. economy. Thankfully, the price of oil ended lower at the end of the week than the beginning even though midweek […]

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