Oilfield Loans Blog
Michigan's Antrim Shale
Located in the Michigan Basin, Antrim Shale is a late Devonian age formation that spills over into Indiana and Ohio. Originally named St. Cleric, Antrim contains mostly organic-rich upper and lower black shale with middle gray shale or limestone.
Antrim Shale History and Status
Antrim's first production hit in 1940, but it wasn't until the 1980s when the play took off. The majority of the action occurs over approximately 39,000 square miles in Antrim, Crawford, Kalkaska, Missaukee, Montmorency, Oscoda and Otsego Counties.
BP Oil Spill Dissolving Quickly
Unless you've taken a vacation and shut yourself off from the news, you know that BP's CEO Tony Hayward is stepping down and heading to Russia to work with TNK-BP, a BP joint venture. The move will allow the company to rebuild itself, if it can survive and stay in business.
BP has been working on relief wells for a long time. Now, the effort may not need the almost completed wells because the "static kill" may do the job. Static kill involves spraying mud and cement at the well to plug it. BP says it will continue working on the relief wells as a safety measure.
Overview of Haynesville Shale: A Star in the Making
Haynesville is the star of its own movie directed by Gregory Kallenberg. Haynesville premiered at South by Southwest (SXSW) Film Festival last March. The film explores Haynesville at two levels: one is the personal level and the other is the big picture in the future of energy and how Haynesville fits.
Fayetteville Shale in Arkansas Overview
Fayetteville Shale takes up about 4,000 square miles of the Arkoma basin in Central and Eastern Arkansas. Fayetteville's rock resembles the characteristics in Texas' Barnett Shale in the Fort Worth basin with its Mississippian age black organic-rich rock. According to the Energy Information Administration in the U.S. Department of Energy, Arkansas is the seventh largest producer of natural gas in the U.S.
Financing Oilfeild Services Business with the SBA 504 Program
The government is offering lower rates, no-fee contracts and other incentives to support small business growth. While incentives sound great, do your due diligence even with a government-backed loan. Before working with Small Business Administration (SBA) or a private lender, compare fees and terms, ask questions, research financing options and know your oilfield services business needs before signing on the dotted line.
BP Oil Spill Update: Congress and Payment
It's been a while since we've posted an entry related to the Gulf of Mexico oil spill. Between President Obama's BP address and Congressional hearings with Tony Hayward, CEO of BP, it's hard not to know what's going on unless you never turn on the TV or see news on the Internet. Here are the latest BP oil spill highlights.
North Dakota's Williston Basin and Bakken Shale
According to attendees at the 18th Williston Basin Petroleum Conference and Expo, western North Dakota expects to see more action and increased employment. Williston Mayor Ward Koesser believes Williston will need to double efforts to prepare for the onslaught of new workers while providing long-term sustainability.
North Dakota Sees Big Jump in Oil and Gas Activity
Wyoming Approves Hydraulic Fracturing Rules
We all expected it to happen at some point and now it has in Wyoming. The state's Oil and Gas Conservation Commission approved new rules surrounding drilling practices. They require oil and gas companies to disclose the chemicals used in the hydraulic fracturing aka fracking process. Wyoming may be the first, or one of the first, states to approve drilling rules.
Marcellus Shale Blowout and West Virginia Fire
A well in Marcellus Shale about 90 miles northeast of Pittsburgh, Pennsylvania in Clearfield County, had a spewed gas that was contained within 16 hours. The EOG Resources Inc. natural gas well blew gas and polluted water as high as 75 feet in the air before containment.
Considering a Specialty Lender?
A veterinarian startup needed to get a loan to get going. Six banks turned down the loan application before a seventh one approved the loan request. This bank stood out because it specialized in the veterinarian industry.
Hear what our oilfield clients sayWhat Our Clients Are Saying
- Keri Gray,The HUGE difference I found since we are working with you... is in the day-to-day life... Since Capital Solutions is funding us there is no "fear"... when I talk to a vendor or need to make payroll. You guys have also bent over backwards... to make it work for us. I really appreciate that.
Energy Services
- George Del Toro,We were funded [in 10 days] (the approval process was very smooth). The way I spend my time has changed dramatically since then. I can spend as much time as I need visiting with customers and out on the field... In closing I would like to tell you that Capital Solutions has made it possible for GDT Well Service, Inc. to triple (300%) its business in the last year, without any of the "growing pains".
GDT Well Service
- Brenda and Mark Neufeld,In our very first conversation I noticed that you not only understood our situation, but also the Oil & Gas trade. Capital Solutions has been an invaluable help... We have grown our business exponentially thanks to you. I can now probably qualify for a traditional line of credit (...but I'm not sure I want to).
B.N.M. Piloting Services