Sentences with phrase «oil shale industry»

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.

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.

«According to the most recent assessment, the steady oil price recovery since summer 2017 and renewed interest in growth opportunities has led to oil majors catching up in terms of exploration activity this year, both in the shale industry and offshore deep water,» OPEC said.

While Tillerson has ties to Russia, he partly missed a key energy development back home in the United States by ceding growth potential in the shale oil industry to smaller, more nimble rivals, including Continental Resources.

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.

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

«The resilience of US onshore oil supply in the face of lower prices demonstrates the profound technological transformations witnessed in the shale industry.»

US to dominate oil industry in 5 years, IEA reports How much investment is needed in energy US shale output is surging, here's what will keep the boom going

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.

Despite efficiency improvements, the shale industry is expected to be cash flow negative by a combined $ 20 billion this year as oil prices sink.

The shale oil industry was scam by the big private equity funds who took a flier on the shale business because the bond market gave them access to dirt cheap capital thanks to the Fed's ZIRP.

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.

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.

While most industry pundits continue to believe that the OPEC cuts / shale growth tug - of - war will continue to cap oil prices, the current mood in the market is a bit merrier than it was two years ago, one year ago, or even one month ago.

The majority of oil executives and industry analysts still believe that $ 50 - $ 60 oil will continue as the new normal, with U.S. shale supply growing stronger every time oil prices rise above $ 50.

Now, investors are eyeing an OPEC meeting on November 27 to see whether the organization could even cut prices further in an attempt to retain its global market share, particularly in the face of competition from the U.S. where oil production has increased thanks to the shale gas industry.

Market participants continued to weigh the supply - side impact of production cuts by the Organization of the Petroleum Exporting Countries (OPEC) and other major oil producers in late 2016 and, on the other hand, the ability of the US shale oil industry to maintain output in the face of lower prices.

The real issue for the Saudis is whether the US shale industry can respond to $ 80 - $ 100 oil by increasing production enough to flood the market again.

Recent news from the US shale oil industry suggests that a surge beyond what is currently projected is doubtful.

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.

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.

In our Special Energy Report: An American Energy Renaissance, we highlight that just a few years ago investors were contemplating the supply constraints facing the petroleum industry, but with the disruptive technology in shale oil and gas in the U.S., we could now be looking at decades of drilling ahead.

The US oil industry has slowed down: but EOG Resources, the country's largest shale oil producer, has forecast a return to «double - digit» production growth if the US benchmark, West Texas Intermediate, rises to $ 65 per barrel or higher.

Beyond the impact of lifted sanctions, the slowdown in global growth, the strength of the US shale industry and the global glut of oil supply (a surplus estimated at one million bpd) continue to fuel the downward spiral of the market.

One of us (Kauffman) lives in Alberta, Canada, which exports shale oil, animal and forest products, and has an information technology industry correlated with the oil industry.

Increased water use in the rapidly growing oil industry in North Dakota's Bakken oil shale region, or play, is surprisingly due not only to oil well development but also to people, according to a recent study by the U.S. Department of Energy's (DOE) Argonne National Laboratory.

Added Vengosh: «Our new study, which integrates data from multiple government and industry sources, provides the first comprehensive assessment of fracking's total water footprint, both nationally and for each of the 10 major U.S. shale gas or tight oil basins.»

Ken Cronin, chief executive of the UK Onshore Operators Group which represents the onshore oil and gas industry, also welcomed the report, saying he hoped its findings would «reassure communities up and down the country that shale gas can be extracted with minimal risk to their wellbeing».

In - depth case studies on the ** US shale gas ** industry as well as the ** Brazilian deep - water oil ** industry.

It's an initial sign that the oil and gas industry is waking up to the need for far more transparency if shale gas is to play a substantial role in America's energy mix any time soon.

These include the U.S. - China Oil and Gas Industry Forum and a U.S. - China initiative on shale gas that he negotiated while at the State Department, which has broadened into the Unconventional Gas Technical Engagement Program.

On Twitter, Jeff Tollefson, a reporter for Nature who's written on pollution from America's shale boom, pointed to the Bakken oil fields as illustrating why tighter rules for existing industry facilities is vital:

Just as important, there is no oil - and gas - service industry in place in Britain to quickly begin shale gas operations here.

Industry innovators took a process used for more than 60 years, modernized it and married it with it with advanced horizontal drilling to safely unleash previously inaccessible oil and natural gas reserves from shale and other tight - rock formations.

Since the peak of crude oil production a decade ago, the fossil fuel industry has been forced to resort to costly and unconventional methods of extraction — arctic drilling and shale gas fracking among them — giving rise to unprecedented economic and environmental hazards.

The 2010 Deepwater Horizon accident and spill in the Gulf of Mexico was a major setback for the offshore hydrocarbons industry; prospects for offshore oil and gas have also been shaken by the shale revolution and by lower prices, and must cope with longer - term uncertainties over demand.

In the aftermath of the oil price fall in 2014, proposed new deepwater projects were generally among the first to be delayed or cancelled as the industry moved towards shorter cycle investments, including shale.

Some analysts believe the prices are being kept artificially low by over-production in Saudi Arabia, aimed perhaps at scuppering the U.S. shale - oil industry.

In Australia much of the financial support for Abbott's Liberal Party comes from the coal industry while in Canada PM Harper's support comes from the highly polluting tar - sands and oil - shale mining businesses.

While natural gas is much less carbon - intense than coal or oil, a burgeoning industry based on cheap shale gas easily could swamp those gains in the long run.

Hydraulic fracturing or fracking for shale gas is the new wild frontier of the fossil - fuel industry, one they're keen to promote as a low - carbon alternative to high - polluting coal and oil.

The oil and gas industry, industry - funded academics and ideological think tanks have promoted shale gas development — through the controversial process of hydraulic fracturing, or fracking — as a sure - fire job creator during difficult economic times.

Global oil discoveries and new projects fell to historic lows in 2016 US shale oil production has become a fundamental factor in balancing low activity in the conventional oil industry 27 April 2017

«The United States stands today at the heart of a twin energy revolution: a booming shale oil and gas industry and also rising supplies of liquefied natural gas (LNG),» Dr Birol said during his presentation.

The problem is that treating oil and gas waste from fracked wells remains particularly tricky because the industry is still allowed to keep secret information about which chemicals drillers use when injecting fluids to crack open shale formations to release oil and gas.

Hype has been the primary tool used by the oil and gas industry with regard to shales and it has worked brilliantly.

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.

The industry also faces stiff competition from a flood of U.S. oil unleashed from oil shale formations by hydraulic fracturing, or fracking.

The mining industry has discovered that there are huge reserves of coal - seam gas and oil - shale that can be profitably exploited.

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.