Sentences with phrase «from shale oil»

An Accident Waiting to Happen» Huge amounts of oil are being transported by rail from the shale oil fields.

May 7, 2012 • Cash - strapped states are embracing the millions of dollars in new tax revenue coming from shale oil and gas development.

The fraction of crude oil consumed in the U.S. that was imported went from 35 % immediately before the 1973 oil crisis, peaked at 60 % in 2005, and then returned to 35 % by 2013 [7] thanks to increased domestic production [8] from the shale oil boom.

Not exact matches

The fracking - enabled boom in production of shale oil has filled the gap from coal since 2010.

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

To get the oil, producers fracture, or «frack,» the earth below with a high - pressure liquid mixture to untap oil and gas from shale rock.

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.

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.

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.

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

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).

Production from shale has helped keep a lid on crude oil prices at about $ 120 a barrel, giving western countries leverage to impose sanctions on Iran, a key supplier.

The so - called shale revolution could help to alleviate Washington's reliance on foreign oil, including from turbulent Middle Eastern states, while also supporting a bid to export to more countries around the world.

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.

The state's oil production grew tenfold over the past decade as it built a thriving oil shale industry virtually from scratch, driving unemployment to a national low and filling government coffers with surging tax revenue.

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.»)

Protesters have been buoyed by the recent success of Native American groups and environmentalists in their campaign against construction of the 1,100 - mile (1,770 - km) Dakota Access pipeline, a project spearheaded by Energy Transfer Partners (etp) that would carry oil from North Dakota's Bakken shale fields into Texas.

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.

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

Output from major shale oil regions will grow by 131,000 barrels a day in April, the Department of Energy predicts.»

Refiners in the U.S. Midwest, Ontario, Alberta, B. and Washington get their raw material from the Western Sedimentary Basin, production from which is growing thanks to the Alberta oilsands, the Bakken field in Saskatchewan and North Dakota and oil shales in the Rocky Mountain states.

Papa, CEO of Centennial Resource Development, is a closely followed figure in the U.S. shale drilling world, where producers rely on advanced techniques to coax oil and gas from tight rock formations.

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.

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.

The British oil giant reported huge figures from the shale gas well, suggesting the Mancos could provide a massive new source of U.S. shale gas.

Of course, supply and demand will have to balance out over time, and more Iranian crude will force a larger adjustment from U.S. shale, so U.S. oil production could see a deeper contraction.

Not long ago, US shale production, which now doubles the output from the oil sands, was off the radar.

A sale of Apache Canada would mark the Houston - based company's exit from the country, the latest international oil firm to sell Canadian operations in favor of concentrating on U.S. shale plays.

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).

The oil we're now pulling out of the ground in North America, whether from the oil sands or shale rock in North Dakota, is tough to get at.

He's also chairman of a $ 26 million fund, BH Logistics, established in April with backing from a Chinese conglomerate, and a $ 40 million fund involved in shale oil exploration, according to documents filed in June and first reported on by Bloomberg News.

And Hamm would know, because Continental Resources was a pioneer in making oil from shale rock profitable in North Dakota.

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.

His company, Knightsbridge Risk Management, a private security firm in Dallas that serves the oil and gas industry, is getting calls from companies that want to plan ahead in case they shut down drilling operations in North Dakota and the Bakken shale formation.

- Chevron (NYSE: CVX) said it would invest $ 4 billion in the Permian Basin in 2018, and the oil major has plans to ramp up production from the shale basin to over 400,000 bpd over the next few years.

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

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.

The boom in unconventional fuels — such as bitumen extracted from Alberta's tar sands and oil extracted from North Dakota's Bakken shale formation by hydraulic fracturing («fracking»)-- has swelled global reserves even as climate scientists issue ever - sterner warnings that burning more than a small fraction of these reserves would be suicidal.

Current WTI prices are not that far from a US$ 40 - per - barrel oil, which has the industry and analysts wonder how low an oil price the U.S. shale can afford.

However, i still think prices will cobtinue to increase due to shale oil and gas and migration from expensive cities.

But the only thing that seems to cause shale drillers to reduce spending — and therefore production — is lower oil prices, since the cash flow from crude is their lifeblood.

Shaken by shale oil production in the United States, softening demand from China and Europe, and rising global concern about climate change, Canada's tar...

US crude oil production shattered a 47 - year output record in November, and then retreated slightly in December, the Energy Information Administration said on Wednesday, as oil production from shale continued to upend global supply patterns.

In addition, U.S. Gulf Coast refineries that Keystone XL will feed are designed to run heavy crude, such as Alberta's, as opposed to the light - grade oil from the shale formations.

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.

Credit distress is rampant among energy companies, which borrowed heavily against the promise of shale oil and gas extraction and are now reeling from what looks like a prolonged price crash.