Sentences with phrase «u.s. shale oil»

Global economic expansion is driving oil demand higher and increasing production of U.S. shale oil, particularly from the Permian Basin...

The U.S. shale oil industry hailed as a «revolution» has burned through a quarter trillion dollars more than it has brought in over the last decade.

The U.S. shale oil boom is becoming its own worst enemy, say industry analysts, who see the supply glut pushing the price of oil so low it may become uneconomical to pry petroleum from those tight rock formations.

If the oil prices stay low and U.S. shale oil extraction becomes uneconomic, maybe oil workers can find a new career in clean energy...

However, the fact that the average quantity of frack sand used per well has more than doubled in recent years — which has helped lower the breakeven price of U.S. shale oil — should help insulate the industry from the worst of the oil crash.

Huge cost savings are waning for U.S. shale oil companies, marking an end to the drastic price cuts on equipment and services over the past 16 months that helped them survive the worst industry downturn in six years.

According to the report, the EIA says that U.S. shale oil production will increase by 111,000 barrels a day to 6.55 million barrels a day in February next month, and that production in the Permian Basin will surge by 76,000 barrels a day.

The Kingdom will have to contend with increased production from Iran and Iraq, along with tackling the U.S. shale oil producers.

U.S. shale oil producers have responded to the oil price collapse so quickly, and with such discipline, that they've shown they are able to turn production on and off as if with a light switch.

ExxonMobil CEO Darren Woods announced on Monday at the CERAWeek conference in Houston TX that the company will be making further investments in U.S. shale oil and gas, laying out a $ 20 billion «Growing the Gulf» initiative that seeks to invest in chemical, refining, lubricant and LNG projects along the Texas and Louisiana coast.

For leading U.S. shale oil producers, $ 40 is the new $ 70.

The price of oil — Russia's main export and revenue source — has fallen 46 percent in the past six months due to abundant supply — partly from U.S. shale oil — and low demand growth.

HOUSTON, May 3 (Reuters)- U.S. shale oil billionaire Harold Hamm, who once called the Organization of the Petroleum Exporting Countries, a «toothless tiger,» here is now crediting the 14 - nation group for its steps to boost crude prices.

U.S. shale oil billionaire Harold Hamm, who once called the Organization of the Petroleum Exporting Countries, a «toothless tiger,» https://www.reuters.com/article/us-contl-resources-ceo-hedging-idUSKBN0IQ18R20141107 is now crediting the 14 - nation group for its steps to boost crude prices.

While we are seeing great increases in U.S. shale oil production, the truth is that many U.S. refiners have lighter condensate than they need for heavy crude to ramp up.

The company last year said it would exit its underperforming U.S. shale oil and gas business after coming under pressure from Sydney - based Tribeca Investment Partners to sell the assets.

Money's shifting toward U.S. shale oil plays, as well as a formation that straddles the Alberta-B.C.

NEW ORLEANS, March 27 U.S. shale oil producer Anadarko Petroleum Corp expects double - digit increases in service costs this year for its operations in the Permian Basin, the largest U.S. oilfield, its chief executive said on Tuesday.

According to the Energy Information Administration's (EIA) most recent report on drilling productivity, total U.S. shale oil output is expected to climb above 6 million barrels a day for the first time in September.

NEW ORLEANS U.S. shale oil producer Anadarko Petroleum Corp expects double - digit increases in service costs this year for its operations in the Permian Basin, the largest U.S. oilfield, its chief executive said on Tuesday.

NEW ORLEANS (Reuters)- U.S. shale oil producer Anadarko Petroleum Corp expects double - digit increases in service costs this year for its operations in the Permian Basin, the largest U.S. oilfield, its chief executive said on Tuesday.

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.

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

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

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.

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.

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

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.

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.

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.

«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.