Oct. 9, 2020 - DOE Report Shows the Benefits of a Robust American Energy Industry, Shows Opportunities for the Future

This week, the Department of Energy released a new report, "U.S. Oil and Natural Gas: Providing Energy Security and Supporting Our Quality of Life. The DOE report details the critical role the oil and natural gas plays in our country. The report not only emphasizes the importance of oil and natural gas to the economy and the benefits of increased production in our country, but also provides an outlook for the future.

"Oil and natural gas provide more than two-thirds of the energy Americans consume daily," said Deputy Secretary of Energy Menezes. "In addition to meeting our energy needs, these fossil fuel resources are integral to our standard of living. This report delves into the importance of these resources, the five key technologies that have supported the industry's advancement, the opportunities for future domestic energy growth, and more."

America's independent producers, IPAA's members, develop 91 percent of the nation's oil and natural gas wells - these companies are innovating every day. As the report notes, 'four decades in research and technology development dramatically changed the technical capacity of the domestic oil and natural gas industry, enabling it to provide abundant and affordable oil and natural gas supplies.' Because of those investments, America has become a net energy exporter, while sustaining high environmental and safety performance levels.

IPAA believes it is important for the nation to fully understand the Energy Department's conclusion that American oil and natural gas will continue to be an essential part of our country's future energy supply - both 'vital to providing our energy security and supporting our quality of life.' READ REPORT. READ EID REPORT WRITE-UP

See Quotes From Bob Harvey, President Of Harvest Petroleum, in the following article, when oil was far cheaper than today and his perspectives were spot on!

April 2010 - VARIETY OF OIL, GAS PROJECTS KEEP INDEPENDENTS BUSY ON GULF COAST ONSHORE! - By Al Pickett - Special Correspondent

Strong On Oil
Harvest Petroleum’s Bob Harvey says oil development opportunities are vital to smaller independents such as his company. “From our perspective, we do not want to spend a bunch of money chasing gas shales. A small independent has a tough time making money in a crowd,” he offers. “We are strong on oil. Our bread and butter is oil projects in which we can get a good product price without having to deal with so much competition."

Accordingly, Harvey says Harvest Petroleum’s strategy focuses on smaller-sized prospects in the Bakken oil shale in the Williston Basin and lower-risk opportunities in and near existing producing fields in the Gulf Coast. Harvest Petroleum operates a lease near Santa Fe, Tx., in Galveston County, and has a nonoperating share of a 12,000-acre lease in St. Landry Parish in Louisiana.

“Smaller independents have to be oriented toward oil,” he claims. “All the big company budgets are going to shale. We can either tag along or look for oil plays appropriate for our size of company.” Harvest Petroleum is looking at several Gulf Coast oil opportunities and analyzing data, Harvey reports. “We have the drilling dollars,” he states. “We are looking for the right deals that fit our position. To justify going for it, we need an ‘oily’ project that fits our investment criteria.”...Go to Full Article

Washington Post Quote where his predictions about the market have come to pass - Feb. 2009.

Robert Harvey, the principal of Harvest Petroleum, Inc., a small firm in Frisco, Texas, said he's looking to invest in four or five drilling projects, perhaps spending as much as $ 2 million in the next couple days. Harvest Petroleum already has interests in wells in parts of South Louisiana and Texas. He figures the economy will rebound sometime next year, and so will the fortunes of the oil industry. "This is a chance to get some good prospects and ride this out, Harvey said. "This thing is going to turn around in 18 months or so, and 18 months is nothing in this business. We look at five, six, seven year horizons." Go to Full Article

Bob Harvey, Scott Hector and Andrew Smith receives the honor of the Top Project from a panel of expert judges of American Association of Drilling Engineers.
July/August 1993

"The town may still be unknown to many, but in oil and gas circles the new-found Bixler gas field is synonymous with overnight success.

"We're very pleased with it." Scott Hector, the geologist, says of the discovery well that flowed at rates as high as 21 million cubic feet per day through a less than one-inch choke."
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