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Sweet and Sour
This is Follow The Money, an oil and gas newsletter from the team at:
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Daily Data Dump
The good, the bad, and the ugly of Texas oil production.
Best of the Best 🏆️
Every week, we sift through our proprietary data to find the best performers in Texas.
Never Quit 😢
Similarly, we find the oil producers who need a little help (i.e. call Barrel Hub).
If you’re wondering how we get this information, we’re under strict orders from the CIA not to disclose that (but if you want to know you can go here).
Daily Bulletin
Futures Curve
Lone Star Stories
Texas Republicans are supporting House Bill 33, which aims to protect the oil and gas industry from federal climate and environmental regulation.
Hundreds of polluting facilities in Texas emit hundreds of millions more pounds of chemicals into the air than their permits allow.
Hide-and-seek level = expert.
Miami-based PE firm Starwood made four investments in Midland and Odessa after the 2014 oil bust and are now wondering if it would’ve been a better idea to get into crypto.
Reader Question of the Day
What are the different categories of oil found worldwide?
There are different ways to categorize crude oil, and the classification schemes vary depending on the industry and purpose. Here are some of the categories of crude oil found worldwide:
Light vs. Heavy: Crude oil is considered "heavy" if it has long hydrocarbon chains, or "light" if it has short hydrocarbon chains. An API gravity of 34 or higher is "light", between 31 and 33 is "medium", and 30 or below is "heavy".
Sweet vs. Sour: Crude oil is classified as "sweet" if it contains less than 0.5% sulfur, and "sour" if it contains more than 0.5% sulfur.
Viscosity: Crude oil can be categorized based on its viscosity, which refers to the oil's ability to flow. Higher viscosity oils do not flow as easily and therefore take more energy and effort to pump from the ground. The four main categories of crude oil based on viscosity are very light oils, light oils, medium oils, and heavy oils.
Geographical source: The petroleum industry often characterizes crude oils according to their geographical source, such as Alaska North Slope Crude. However, this classification is not useful for response personnel, as it offers little information about general toxicity, physical state, and changes that occur with time and weathering.
Chemical properties: Crude oil assays evaluate various chemical properties of the oil, such as its API gravity and sulfur content. The two most important properties determining a crude's value are its density (measured as API specific gravity) and its sulfur content (measured per mass).
Benchmark crude oils: The three most well-known regional benchmark oils are WTI, Brent, and OPEC. WTI stands for West Texas Intermediate, and OPEC is a collective group of seven different crude oils from Algeria, Saudi Arabia, Nigeria, Dubai, Indonesia, Venezuela, and the Mexican Isthmus.
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