If you just want aggregated news about
the shale oil industry, it seems you could find easier ways to get it.
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.
Recent news from the US
shale oil industry suggests that a surge beyond what is currently projected is doubtful.
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 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.
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.
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.
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.
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.
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.
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.
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.
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.