The EIA report suggests that there is potential
for shale oil production to increase non-OPEC supplies of liquid fuels substantially over the course of the IEO2013 projection.
The Energy Information Administration (EIA) released another EIA Drilling Activity report that raised its estimates
for shale oil production without considering the realities on the ground.
Overall effect of the decline in oil prices will be a positive driver in aggregate demand in the U.S., even though the decline in price of oil had negatively affected investment in equipment and structure needed
for shale oil production, which had «become an important component of aggregate U.S. investment»
UNP transports the materials needed to drill
for shale oil and then transports the oil back.
However, oil prices have been dropping like hot potatoes, almost 30 %, and with that energy stocks are tanking in unison and singing songs with same tune, along with drilling and exploration companies
for shale oil or natural gas.
According to the IEA, the drilling boom
for shale oil is putting US production on track to pass Saudi Arabia.
Not exact matches
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.
It is redesigning its deepwater
oil platforms and onshore
shale - gas projects to simplify them, a major cultural change at a firm that has long prided itself more
for engineering prowess than
for economic discipline.
Goldman Sachs has downgraded its estimations
for oil prices
for this year, citing a potential rise in
shale gas production, new projects and OPEC restrictions.
An estimated average of 20 billion barrels of
oil and 1.6 billion barrels of natural gas liquids are available
for the taking in the Wolfcamp
shale, which is in the Midland Basin portion of Texas» Permian Basin.
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.
In California,
oil companies are pressing
for further exploration of the massive Monterey
Shale, a 1,750 - square - mile area extending from the agricultural Central Valley to the Pacific Ocean that federal energy officials say could ultimately comprise two - thirds of the nation's
shale oil reserves.
But they represent another way
for Wall Street and
shale producers to increase the flow of
oil, and frustrate plans by the Organization of the Petroleum Exporting Countries to prop up prices.
Reports that
shale companies were posting juicy profits at very low
oil prices has likely factored into heady projections
for shale output.
Another significant observation is that the shaky financial position
for some
shale drillers also suggests that the downside risk to
oil prices might not be as serious as once thought.
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.
Trump tariffs hit raw nerve in energy pipeline sector
Oil pipelines prepare new battle tactics
for environmental activists US
shale forecasts are too optimistic, pioneering fracker says
It's going to cost her $ 3,200 to get a lab to test
for all the acids, detergents and poisons that companies say they use
for fracking — or hydraulic fracturing — to break up underground
shale and remove
oil and natural gas.
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.
Adam Sieminski, head of the department's Energy Information Administration, said: «Today's report indicates a significant potential
for international
shale oil and
shale gas, though the extent to which technically recoverable
shale resources will prove to be economically recoverable is not yet clear.»
Workers with Raven Drilling line up pipe while drilling
for oil in the Bakken
shale formation outside Watford City, North Dakota.
Whether or not that happens — and frankly, it's an extreme example of the worst - case scenario
for US
shale producers — a glut of global
oil inventories is already weighing on
oil prices.
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.&raqu
For an on - the - ground report from North Dakota
oil country, see «Waiting
for the Reckoning.&raqu
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.
Then, in late 2009, Exxon Mobil, the biggest of Big
Oil companies, bought
shale gas producer XTO Energy
for US$ 41 billion.
The extraordinary cost reductions achieved by North American
oil and gas companies have likely reached their limit, and any boost in profitability
for much of the U.S.
shale and Canadian
oil sands industries will have to come from higher
oil prices, according to a new report from Moody's Investors Service.
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.
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.
China is becoming a key market
for global
oil exporters as surging output from
shale fields from Texas to North Dakota allows the U.S., the biggest crude consumer, to rely less on overseas supplies.
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, 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.
British Columbia taxpayers are now subsidizing massive water allocations, road construction and basic scientific research
for uneconomic
shale gas development by multinational and Chinese national
oil companies.
U.S.
oil and natural gas production from Pennsylvania could help power Ontario and Quebec
for instance, even as Canadian
shale flowed through pipelines from Alberta to the U.S. Infrastructure matters a lot in these settings, especially given the difficulties most companies are facing in building new pipelines (Exhibit A: see the Dakota Access Pipeline).
After eliciting an admission from the agent that Mammoth believed it had discovered a substantial
shale oil deposit suitable
for fracking, Farmer drove a hard bargain
for the drilling rights.
The recent
oil shale boom was powered mostly by small firms because larger multinationals like Exxon and BP are structured
for big payoff, technically - difficult projects like deep water drilling and Arctic exploration.
For the longest time, OPEC and Russia have been pulling out all the stops to limit the production of crude
oil in the East, while
shale producers in the West have only been taking advantage of these efforts to ramp up their own output.
While WoodMac sees trouble ahead
for the Permian, a separate study from IHS Markit estimates a massive volume of
oil still remains in the Permian, and that the best days
for the
shale basin are ahead.
New
shale oil well productivity drove U.S. production higher in the last few years, with the average daily rate
for the first month of operation rising from less than 100 Continue Reading
Steve Pastor, BHP's president
for petroleum operations, said this week the company would consider swapping certain onshore
oil and gas assets with competitors» offshore assets as part of its effort to exit U.S.
shale operations.
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.
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.
One small group thinks that lower
for longer could end soon because U.S.
shale can't keep a lid on prices forever and can't catch up with expected robust demand — all the more so that investments in conventional supply around the world have slumped since the
oil prices started crashing.
OPEC on Wednesday raised its forecast
for non-member
oil supply this year to almost double the growth predicted four months ago as higher prices spur U.S.
shale drilling, offsetting OPEC - led output cuts and a collapse Continue Reading
Less than a year ago major
shale firms were saying they needed
oil above $ 60 a barrel to produce more; now some say they will settle
for far less in deciding whether to crank up output after the worst
oil price crash in a generation.
While it's perfectly true that there isn't enough U.S.
shale to flood the world with
oil, a lot of what there is is historically cheap to produce so as to give crude from the Middle East a real run
for its money; and a solid proportion of that production has been sold forward at attractive levels in the futures market ensuring financial stability
for U.S. producers.
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.
Since 2008, he's called practically every major
shale play before the mainstream press got wind of them — including the now - famous Bakken
oil formation and the companies that have raked in billions in profits
for their shareholders.