Sentences with phrase «u.s. oil shale»

If the Interior Department has its way, exploiting U.S. oil shale is going to become less financially burdensome for oil companies.

Five years ago, says Gheit, the industry needed oil at $ 90 to justify the development of new production of U.S. oil shale.

Specifically, oil coming from the U.S. oil shales have doubled and now represent almost 5 million barrels per day of the 9 million barrels per day of oil the U.S. produces.

Not exact matches

The quest to regain the top producer spot in one of the most - prolific U.S. shale basins had eluded Hamm's Continental since at least 2014, when Whiting bought smaller rival Kodiak Oil and Gas.

If the U.S. develops its oilsands and its oil shale resources in the western states, it will be great news for Canada's energy industry for several reasons, writes Erica Alini.

For the second consecutive quarter, Continental bested rival Whiting Petroleum Corp to be the largest oil producer in the Bakken, solidifying that crown and its place as one of the most - prolific U.S. shale companies.

Then, higher oil prices could also spur more production from areas outside the hottest U.S. shale play.

But growing oil prices has had the unintended side effect of allowing U.S. shale producers to restart operations.

U.S. shale producers have pioneered new techniques to drill oil more efficiently but also in places that were once seen as impossible.

OPEC wants to have an open dialogue with upstart U.S. shale drillers and learn from oil market players, after the most painful downturn in six oil price cycles.

Also, notwithstanding a silly fiscal policy and the ongoing political impasse, the U.S. economy has some very good things going for it now, as even king of doom, Nouriel Roubini, couldn't help but note: the Fed is going to stick to its asset - buying regime for the foreseeable future, providing a monetary protein shake the recovery still very much needs; the housing rebound is well on its way, which is helping Americans rebuild their wealth and is boosting employment in many states with high jobless rates; and the shale oil and gas revolution continues to power investment, job creation and revenue growth.

The shift, an EIA report released on Friday noted, reflects both a steadily growing Chinese demand and flat - lining U.S. oil imports as a result of America's shale oil boom.

Analysts estimate that a sanction - free Iran could add another 1 million barrels per day of oil to global supply by 2016, providing a supply cushion if U.S. shale producers end up running out of financing.

Other analysts, like economist Nouriel Roubini, argued that cheap oil would last just a year or 18 months before producers like Saudi Arabia had successfully flushed out higher - cost competitors like shale producers here in the U.S.

The U.S. can produce as much shale oil as it wants, but its Gulf Coast refineries are geared toward heavier kinds of crude that can easily process oil sand bitumen but aren't geared toward the lighter crude coming out of, say North Dakota's Bakken play.

The companies say the pipeline would carry Bakken shale oil more cheaply and safely from North Dakota to Illinois en route to U.S. Gulf Coast refineries than it could be shipped by railroad or tanker trucks.

When fully connected to existing lines, the line would be the first to carry crude oil from the Bakken shale directly to the U.S. Gulf.

The firm had taken a bearish view on Exxon due to challenges in its European natural gas operations, «lackluster» growth in oil and gas production, a pricey acquisition in U.S. shale fields and the lack of share buybacks.

Further, offshore drilling faces competition from onshore U.S. shale drilling, which can be started up and shut down quickly as oil prices fluctuate.

U.S. shale has been portrayed as nimble, lean and quick to respond to oil price changes.

OPEC wants an open dialogue with U.S. shale drillers after the most painful downturn in six oil price cycles.

HOUSTON, April 16 - Billionaire activist investor Carl Icahn on Monday nominated a five - person slate of his employees and business associates to replace the SandRidge Energy Inc board of directors, escalating his fight for control of the U.S. shale oil producer.

HOUSTON, April 16 (Reuters)- Billionaire activist investor Carl Icahn on Monday nominated a five - person slate of his employees and business associates to replace the SandRidge Energy Inc board of directors, escalating his fight for control of the U.S. shale oil producer.

«You're starting to see rig counts go down in the U.S.; you're seeing capital expenditure budgets slashed in the oilsands and the shale oil fields in the U.S..

«U.S. shale growth is very strong, the pace is very strong... The United States will become the No. 1 oil producer sometime very soon,» he told Reuters separately.

Analysts interpreted this move as an attempt to squeeze higher - cost producers, including U.S. shale oil, out of the market.

The pace of oil and gas production gains has consistently surprised forecasters since horizontal drilling and hydraulic fracturing, better known as «fracking», were pioneered in U.S. shale rock formations about ten years ago.

Only the U.S. and Canada were producing oil and natural gas from shale in commercial quantities, the department said.

The relentless rise of U.S. shale growth could soon spark another dramatic change of policy from leading oil producers, according to the latest monthly report from the International Energy Agency (IEA).

Ahead of the deal, however, Nigeria's oil minister had insisted the group was «aligned» and was in agreement about extending the cuts, despite the risk of a strong comeback by U.S. shale oil producers.

HOUSTON, April 10 - U.S. shale oil producer Devon Energy Corp said on Tuesday it would lay off 300 workers, roughly 9 percent of staff, part of a plan to streamline its operations.

March 27 - Reliance Industries Ltd said on Tuesday its unit would sell some of its shale assets in the United States to privately held Sundance Energy Inc for $ 100 million, as the Indian oil - to - telecom conglomerate moves closer to exit U.S. shale investments.

«This year, however, (OPEC's) production curbs will increasingly have to make do with playing second fiddle to a Texas - sized wave of U.S. shale growth,» Stephen Brennock, oil analyst at PVM Oil Associates, said in a research note Wednesdoil analyst at PVM Oil Associates, said in a research note WednesdOil Associates, said in a research note Wednesday.

U.S. shale producers are churning out crude oil at such a relentless pace that the country will soon become the most influential player in the energy market, according to an analyst.

The pipeline would help transport clogged U.S. shale oil as well.

The agreement does not include U.S. shale oil producers, and there are concerns that rising oil prices, largely thanks to the oil output cut, has allowed U.S. producers to come back online.

The U.S. Department of Energy estimated «technically recoverable» shale oil resources of 345 billion barrels in 42 countries it surveyed, or 10 percent of global crude supplies.

The price of oil collapsed from near $ 120 a barrel in June 2014 due to weak demand, a strong dollar and booming U.S. shale production.

Global shale resources are vast enough to cover more than a decade of oil consumption, according to the first - ever U.S. assessment of reserves from Russia to Argentina.

To be sure, U.S. shale oil producers have played the part of the spoiler this year.

Despite the gusher of U.S. shale oil production, Grantham believes that prices are likely to reset higher again — to a baseline above $ 100 — because, outside of shale, finding new oil is getting harder.

After years of declines, U.S. oil production has picked up dramatically since 2010 thanks to the so - called «shale revolution.»

This is especially true in the new boomtowns that have powered the shale oil revolution in the U.S. (For an on - the - ground report from North Dakota oil country, see «Waiting for the Reckoning.»)

She mentioned that, despite the shale - oil boom, the U.S. would continue to need energy imports «for a very long time.»

What's more, any uptick in oil prices will likely incentivize non-OPEC countries, for instance, U.S. shale producers, to pump up supplies.

But Alberta heavy oil is sometimes fetching as little as half the world price due to the competition from U.S. - produced shale oil and a shortage of pipelines to get the crude to the coasts and other refining markets.

Given the high cost of shale oil production, it's questionable much marginal new U.S. production will be able to displace established Canadian oilsands supply while also replacing production declines in California, Alaska and the Gulf of Mexico.

O'Loughlin said that relatively high oil prices, supported by healthy demand and production cuts by the Organization of the Petroleum Exporting Countries (OPEC) to tighten markets, «are encouraging U.S. shale producers to continue ramping up production.»

That is because U.S. shale companies have been somewhat protected from the full vagaries of oil price swings up until now.

Concerns over the U.S. shale engine may have recently been put on the back burner but this reprieve is not expected to last,» PVM Oil Associates strategist Stephen Brennock said.