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01 / 05
Oil Was Written Off. Now It’s the Most Productive US Industry

Bloomberg | Energy Production

Oil Was Written Off. Now It’s the Most Productive US Industry

“In a dusty swath of sagebrush country near the Texas-New Mexico border, engineers at oil producer Matador Resources Co. encountered a problem.

Conventional wisdom called for drilling four wells into the ground and then horizontally to access layers of oil-soaked rock, a technical feat perfected by the US shale industry. But the plot of land was too narrow, limiting each well’s reach and likely making them unprofitable. So the engineers tried a novel concept: a U-turn. After boring vertically to the shale layer, they went sideways for one mile, curved the well around and then drilled back to where it began. It worked. Matador was able to pump the oil with two wells instead of four, essentially cutting costs in half…

The U-turn, or horseshoe well, is an example of the small improvements that together have pushed oil and gas producers to the biggest labor productivity gains of any US sector over the past decade—including even tech-related industries, which have historically ranked first. The nation’s crude output has risen to a record 13.3 million barrels a day, 48% more than Saudi Arabia. All with less than a third of the rigs and far fewer workers than were needed 10 years ago.”

From Bloomberg.

pv magazine | Energy Production

India Adds Record 24.5 GW of Solar in 2024

“India added 24.5 GW of solar and 3.4 GW of wind capacity in 2024, doubling solar installations and increasing wind capacity by 21% from 2023, according to JMK Research & Analytics. These additions brought India’s total renewable energy capacity to 209.44 GW, with solar accounting for 47% of the total.

The nation’s 24.5 GW of solar capacity additions included 18.5 GW of utility-scale PV, 4.59 GW of rooftop systems, and 1.48 GW of off-grid installations.”

From pv magazine.

Bloomberg | Energy Prices

French Power at Record Discount to Germany on Cheap Nuclear

“French year-ahead power prices traded at a record discount to those in Germany, underlining France’s strong nuclear generation and its neighbor’s continued reliance on gas.

French power futures for 2026 are about 27% cheaper than the equivalent contract in Germany, according to data from European Energy Exchange. Nuclear power output in France reached its highest level since 2019 this month, pushing down futures to a three-year low.

While the energy transition may potentially bring lower long-term costs across Europe, the intermittency of solar and wind power means countries are facing short-term price spikes. France has smoothed those out with its nuclear fleet, but Germany is relying on more expensive gas and coal-fired stations after shutting its last atomic plant in 2023.”

From Bloomberg.

World Bank | Adoption of Technology

Senegal Closing on Universal Electricity Access

“Khady’s story reflects Senegal’s broader journey toward universal electricity access. The country has made significant strides, with a national access rate of 84% according to government sources. This progress has transformed millions of lives, yet the journey is far from over. While urban areas enjoy near-universal access, over 30 % of rural communities remain disconnected from the grid.”

From World Bank.

Ember | Energy Production

Turkey Doubles Solar Capacity

“Türkiye’s solar energy capacity doubled from 9.7 GW in July 2022 to exceed 19 GW by the end of 2024. By August 2024, the country had already exceeded the 18 GW target set for 2025 in the National Energy Plan (NEP) by the Ministry of Energy and Natural Resources (MENR). Achieving this target 1.5 years ahead of schedule underscores Türkiye’s strong commitment to solar energy and signals the need for more ambitious future targets.

Unlicensed plants, primarily built for self-consumption, accounted for 90% of new installations in the past four years.”

From Ember.