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Keyword: oilshale

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  • A Second Shale Revolution May Be Coming

    06/27/2014 9:39:29 PM PDT · by ckilmer · 15 replies
    businessinsider ^ | Jun. 27, 2014, 4:37 PM
    The cliffs at Kimmeridge, on England's south coast, have on occasions been known to smoulder or even burst into flames in hot weather. That is because, unlike the famous white chalk cliffs of Dover, they are made of oil shale, a soft rock that has hydrocarbons trapped in its pores. The world's oil-shale beds may contain the equivalent of up to nine times as much oil as all of its conventional wells.
  • Moscow signals concern for Russians in Estonia

    03/19/2014 12:33:04 PM PDT · by Berlin_Freeper · 122 replies
    reuters.com ^ | Mar 19, 2014 | Robert Evans
    Russia signaled concern on Wednesday at Estonia's treatment of its large ethnic Russian minority, comparing language policy in the Baltic state with what it said was a call in Ukraine to prevent the use of Russian. Russia has defended its annexation of Ukraine's Crimea peninsula by arguing it has the right to protect Russian-speakers outside its borders, so the reference to linguistic tensions in another former Soviet republic comes at a highly sensitive moment.
  • Moscow signals concern for Russians in Estonia

    03/20/2014 5:29:46 AM PDT · by thackney
    Reuters ^ | Mar 19, 2014 | ROBERT EVANS
    Russia signaled concern on Wednesday at Estonia's treatment of its large ethnic Russian minority, comparing language policy in the Baltic state with what it said was a call in Ukraine to prevent the use of Russian. Russia has defended its annexation of Ukraine's Crimea peninsula by arguing it has the right to protect Russian-speakers outside its borders, so the reference to linguistic tensions in another former Soviet republic comes at a highly sensitive moment. Russia fully supported the protection of the rights of linguistic minorities, a Moscow diplomat told the United Nations Human Rights Council in Geneva, according to a...
  • Anadarko Focusing on Onshore U.S. Operations

    11/19/2013 10:26:05 AM PST · by ckilmer · 7 replies
    fool.com ^ | November 19, 2013 | | By Arjun Sreekumar
    Anadarko Focusing on Onshore U.S. Operations  Though Anadarko Petroleum (NYSE: APC  ) is well known for its international asset portfolio, which includes sizable stakes in the Jubilee field off Ghana's shore, the El Merk project in Algeria's Sahara Desert, and exploratory prospects offshore various African countries, the company's onshore U.S. operations account for nearly 90% of its total production and 60% of this year's capital spending.In fact, Anadarko is so optimistic about its growth runway in the U.S. that it recently sold some international assets to help fund its onshore U.S. drilling program. Let's take a closer look.Mozambique sale to fund...
  • Oklahoma is next destination for shale revolution: Kemp

    10/22/2013 3:00:17 PM PDT · by ckilmer · 16 replies
    reuters ^ | Fri Oct 18, 2013 6:55am EDT | By John Kemp
    Oklahoma is emerging as the next big shale oil play, with production growing faster than in any other U.S. state apart from Texas and North Dakota.
  • Purdue Research Spotlights 'Shale Boom' Benefits

    10/08/2013 9:42:20 PM PDT · by ckilmer · 6 replies
    insideindianabusiness ^ | October 8, 2013
    October 8, 2013 News Release West Lafayette, Ind. -- The increasing production of shale oil and gas should benefit the U.S. economy by raising the nation's gross domestic product by an average of 3.5 percent annually through 2035, according to a report by Purdue University energy economists. "The economic impact of shale oil and gas is clear: It is a game changer for the U.S. economy," said Wally Tyner, the James and Lois Ackerman Professor of Agricultural Economics and one of the researchers. Shale oil and gas are found deep underground, below conventional oil and far below the water table....
  • Jordan, China in $2.5 bn deal for oil-shale plant

    09/19/2013 6:16:04 AM PDT · by TexGrill
    Fox News ^ | 09/19/2013 | AFP
    AMMAN (AFP) – Jordan and China have inked a memorandum of understanding to build a $2.5 billion (1.8 billion euros) oil shale-fired power plant in the kingdom to produce 900 megawatts of electricity, media said Thursday. Under the agreement, signed Wednesday in Beijing during a visit of King Abdullah II, a consortium of China's Shandong Electric Power Construction Corporation (SEPCO III) and HTJ Group as well as Jordan's Al-Lajjun Oil Shale Company will build the power station in the southern city of Karak. "Jordan has 31 billion tonnes of oil shale, the world's fourth largest reserves," state-run Petra news agency...
  • Estonia becomes self-sufficient on shale gas boom

    09/02/2013 9:28:47 PM PDT · by 2ndDivisionVet · 10 replies
    The London Telegraph ^ | August 25, 2013 | Ambrose Evans-Pritchard
    The Baltic tiger of Estonia is the world’s first country to meet all its power needs from shale, with enough left over for neighbours and fuel exports for the shipping industry. “We are the most energy independent country in the European Union, and we will not compromise our energy security. We have a large neighbour,” said Juhan Parts, the economy minister. It is the same story wherever you go across Eastern Europe: the fuel debate comes down to Vladimir Putin’s Russia, and Gazprom’s stranglehold on gas supplies. Global warming inevitably plays second fiddle. “Estonia is not rich enough to experiment...
  • Increased U.S. oil production: How it's affecting you at the pump

    07/17/2013 5:18:09 AM PDT · by thackney · 27 replies
    Politico ^ | 7/17/13 | TALIA BUFORD
    The surge in U.S. oil production is making a difference in the energy market, even if American consumers aren’t necessarily seeing the savings at the pump, Adam Sieminski, head of the Energy Information Administration, told lawmakers Tuesday. U.S. crude oil production jumped by nearly a million barrels per day last year, reaching its highest average daily level since 1995, although gasoline prices so far this year have averaged $3.56 per gallon, a modest 6 cents below last year’s price, according to AAA data. “Consumers are benefiting from domestic oil production,” Sieminski told the Senate Energy and Natural Resources Committee on...
  • Australian shale oil discovery could be larger than Canada's oilsands ($20 Trillion)

    07/10/2013 7:44:24 AM PDT · by Titus-Maximus · 26 replies
    CBC News ^ | Jan 24, 2013 | staff
    Linc Energy claims to have found rock formations containing more than $20 trillion worth of oil Brisbane company Linc Energy says independent studies have confirmed a major shale oil source in South Australia's far north, which officials have estimated could be worth $20 trillion. The company says U.S. consultants have carried out drilling and geological and seismic surveys around Coober Pedy. Linc Energy holds rights over more than 65,000 square kilometres of land in the Arckaringa Basin and started explorations in 2008. In a statement to the Stock Exchange, the company said reports from U.S.-based consultants indicate underlying rock formations...
  • US Oil Production in Largest Ever Single-Year Increase (Oil Find That Holds More Than All of OPEC)

    06/13/2013 3:35:20 AM PDT · by lbryce · 24 replies
    BBC ^ | June 12, 2013 | Staff
    A report has revealed that 2012 saw the largest single-year increase in US oil production ever recorded. US production grew due to an increase in techniques such as fracking, a method for extracting shale oil and gas, the report by oil giant BP said. Overall, global energy consumption grew by 1.8% in 2012, a smaller increase than in 2011. China and India accounted for almost 90% of that growth.
  • Estonia eager to teach world about oil shale

    06/03/2013 9:10:08 PM PDT · by ckilmer · 35 replies
    New Jersey Herald ^ | May 30, 2013 9:31 AM EST | GARY PEACH
    <p>AUVERE, Estonia (AP) - Home to the creators of Skype and the first country to use online voting, Estonia relishes its image as a technological pioneer. But the tiny East European country's most far-reaching economic achievement could come from how it has learned to squeeze oil from a rock.</p>
  • Will Bakken rival Ghawar oil field? (USA vs. Saudi Arabian sites)

    11/12/2012 10:43:28 AM PST · by 2ndDivisionVet · 8 replies
    Trade Arabia / Reuters ^ | November 12, 2012 | John Kemp
    Could oil production from the Bakken formation in North Dakota and Montana rival output from Saudi Arabia's supergiant Ghawar oilfield, the greatest oil-bearing structure the world has ever known? Until recently, comparisons between the shale fields of the Bakken and Ghawar, which produces 5 million barrels per day, would have been dismissed as fanciful. But Bakken's exponential growth and enormous reserves put it on course to produce more than 1 million barrels per day by the middle of next year, which will earn it a place in the small pantheon of truly elite oil fields. Ghawar accounts for nearly half...
  • OPEC acknowledges shale oil supply may be significant

    11/10/2012 2:14:22 AM PST · by 2ndDivisionVet · 16 replies
    Reuters ^ | November 8, 2012 | Alex Lawler
    OPEC acknowledged for the first time on Thursday that technology for extracting oil and gas from shale is changing the global supply picture significantly, and said demand for crude will rise more slowly than it had previously expected. In its annual World Oil Outlook, OPEC cut its forecast of global oil demand to 2016 due to economic weakness and also increased its forecast of supplies from countries outside the 12-nation exporters' group. "Given recent significant increases in North American shale oil and shale gas production, it is now clear that these resources might play an increasingly important role in non-OPEC...
  • Interior Proposal Would Block Oil Shale Development On Federal Lands In West

    11/09/2012 3:00:14 PM PST · by drewh · 1 replies
    The Hill ^ | 11/09/12 02:07 PM ET | By Zack Colman
    The Interior Department on Friday issued a final plan to close 1.6 million acres of federal land in the West originally slated for oil shale development. The proposed plan would fence off a majority of the initial blueprint laid out in the final days of the George W. Bush administration. It faces a 30-day protest period and a 60-day process to ensure it is consistent with local and state policies. After that, the department would render a decision for implementation. The move is sure to rankle Republicans, who say President Obama’s grip on fossil fuel drilling in federal lands is...
  • Interior proposal would block oil shale development on federal lands in West

    11/09/2012 2:58:23 PM PST · by Evil Slayer · 9 replies
    The Hill ^ | 11/9/12 | Zack Colman
    The Interior Department on Friday issued a final plan to close 1.6 million acres of federal land in the West originally slated for oil shale development. The proposed plan would fence off a majority of the initial blueprint laid out in the final days of the George W. Bush administration. It faces a 30-day protest period and a 60-day process to ensure it is consistent with local and state policies. After that, the department would render a decision for implementation. The move is sure to rankle Republicans, who say President Obama’s grip on fossil fuel drilling in federal lands is...
  • Interior proposal would block oil shale development on federal lands in West

    11/09/2012 3:03:33 PM PST · by george76 · 6 replies
    The Hill ^ | 11/09/12 | Zack Colman -
    The Interior Department on Friday issued a final plan to close 1.6 million acres of federal land in the West originally slated for oil shale development. The proposed plan would fence off a majority of the initial blueprint laid out in the final days of the George W. Bush administration. It faces a 30-day protest period and a 60-day process to ensure it is consistent with local and state policies. After that, the department would render a decision for implementation. The move is sure to rankle Republicans, who say President Obama’s grip on fossil fuel drilling in federal lands is...
  • Study: Shale Oil to Pressure World Prices

    07/09/2012 6:01:54 AM PDT · by thackney · 50 replies
    The National via Rig Zone ^ | July 06, 2012 | April Yee|
    Oil unlocked from shale formations is set to create a supply glut that could push down crude prices, according to a new study. Global production capacity at oilfields will increase by 17.6 million barrels per day (bpd) over the next eight years thanks in part to shale, the most significant increase in any decade since the 1980s, according to Leonardo Maugeri, a research fellow at Harvard Kennedy School's Belfer Center for Science and International Affairs. "Contrary to what most people believe, oil supply capacity is growing worldwide at such an unprecedented level that it might outpace consumption," wrote Mr Maugeri,...
  • Will North Dakota be the first state to end property taxes?

    06/11/2012 2:27:22 PM PDT · by Libloather · 34 replies
    Post Bulletin ^ | 6/11/12 | Josh Goodman
    Will North Dakota be the first state to end property taxes?By Josh Goodman Associated Press Posted: Jun 11, 2012, 10:29 am WASHINGTON — North Dakota voters on Tuesday will decide the fate of a ballot initiative that would make the state the first in the country to end property taxes. If any state is going to take such a dramatic step, North Dakota would seem to be a likely candidate. North Dakota is generally a conservative state, and fiscal conservatives generally support lower taxes. The state is also experiencing a surge in tax revenue unrivaled elsewhere. The property tax is...
  • PN Bakken: ND tax collections jump 44 percent (North Dakotaabolish property taxes)

    06/11/2012 2:23:49 PM PDT · by Hojczyk · 9 replies
    Petroleum Bakken ^ | May 6, 2012 | Rose Ragsdale
    In the April 17 edition of Forbes, contributor Josh Barro cited an astonishing jump in North Dakota tax collections in 2011 due to the recent oil and gas boom in the northern plains state. Citing U.S. Census Bureau report on 2011 state tax collections figures, Barro said tax collections in North Dakota have soared — up 44.4 percent over 2010, all on the strength of the oil and gas boom in the Bakken shale formation. Severance taxes (taxes on natural resource extraction) leaped 65 percent from year to year and now make up 49 percent of the state’s tax collections....
  • ExxonMobil Eyes Massive Siberian Shale Reserves

    06/05/2012 1:30:23 PM PDT · by thackney · 10 replies
    Dow Jones via Rig Zone ^ | June 05, 2012 | Simon Hall
    Exxon Mobil Corp. is starting work with Russia's OAO Rosneft in assessing what could be massive reserves of shale oil in Western Siberia, the U.S. giant's Chief Executive Rex Tillerson said Tuesday. "There is huge shale potential in shale rocks in West Siberia...we just don't know what the quality is," Mr. Tillerson said in an interview with Dow Jones Newswires. The exploration work will take years to establish if the reserves are commercially viable, and are part of a strategic agreement Exxon reached earlier this year with state-controlled Rosneft, Russia's largest oil producer. "Rosneft wished to participate in some resource...
  • A Gold Nugget as Big as the White House

    05/16/2012 5:01:23 AM PDT · by Kaslin · 27 replies
    Townhall.com ^ | May 16, 2012 | Terry Jeffrey
    F. Scott Fitzgerald once wrote a story about a family that discovered a diamond as big as the Ritz-Carlton Hotel sitting beneath a mountain in a remote corner of Montana. The big rock presented a great dilemma. Selling off tiny pieces could yield a massive fortune. But if the world uncovered its existence, diamond prices would plummet. To maintain their secret -- and an artificial scarcity in diamonds -- the family became tyrants, imposing absolute control over five square miles of Montana. Involuntary servitude, extrajudicial incarceration and old-fashioned homicide were just some of the tools they used the keep their...
  • The Green River Formation: World's Largest Oil Shale Deposits

    05/16/2012 11:06:09 AM PDT · by Mikey_1962 · 33 replies
    New American ^ | 5-15-12 | Bruce Walker
    A stretch of largely vacant federal lands in Utah, Wyoming, and Colorado may hold more recoverable oil than all the rest of the world put together. That is what Anu Mittal, Director of Natural Resources for the General Accounting Office, informed the House Science Subcommittee on Energy and the Environment in her written testimony on May 10: The Green River Formation — an assemblage of over 1,000 feet of sedimentary rocks that lie beneath parts of Colorado, Utah, and Wyoming — contains the world's largest deposits of oil shale. USGS [U.S. Geological Survey] estimates that the Green River Formation contains...
  • GAO: Recoverable Oil in Colorado, Utah, Wyoming 'About Equal to Entire World’s Proven Reserves'

    05/11/2012 4:09:24 PM PDT · by jazusamo · 60 replies
    CNSNews ^ | May 11, 2012 | Terence P. Jeffrey
    Video at link Rock Springs, Wyo. (BLM Photo) (CNSNews.com) - The Green River Formation, a largely vacant area of mostly federal land that covers the territory where Colorado, Utah and Wyoming come together, contains about as much recoverable oil as all the rest the world’s proven reserves combined, an auditor from the Government Accountability Office told Congress on Thursday. The GAO testimony stressed that the federal government was in “a unique position to influence the development of oil shale” because the Green River deposits were mostly beneath federal land. It also noted that developing the oil would pose “socioeconomic challenges,”...
  • Texas Shale 'Gusher' Shows Why Fracking Is Important

    05/08/2012 4:48:27 PM PDT · by Kaslin · 11 replies
    IBD Editorials ^ | May 8, 2012
    Energy: Cutting our reliance on oil from unstable regions is a good idea if not a necessity. But that crude won't be replaced by algae or biofuel. To be more independent, we need to go to the well one more time — back to Texas. The Lone Star State is not a favorite of the environmentalists and their political-media allies. But it has long been a rich source of oil that drives our economy. While other states — particularly North Dakota and Alaska — have become more newsworthy for their oil production, Texas wells aren't yet dry. The Eagle Ford...
  • Canol shale in NWT’s Central Mackenzie Valley game changer {Canada}

    04/14/2012 4:13:34 AM PDT · by thackney · 1 replies
    Petroleum News ^ | Week of April 15, 2012 | Gary Park
    In a straight line, they’re 4,200 miles apart. And they’re years apart in commercializing their resources. But, even if they’re not in the same geographical and time zone, the Canol shale in the Central Mackenzie Valley of the Northwest Territories and the heart of the Bakken in North Dakota have a common bloodline. The Bakken is already living proof of the success new technology has in spawning a new generation hydrocarbon basin. The Canol shale shares that ambition to become a game changer, turning Canada’s North into a major unconventional oil and natural gas producer. While the Bakken pushes boldly...
  • Crude on track: Canadian Pacific in 4th year of moving Bakken oil (Not waiting for Keystone XL)

    03/19/2012 5:20:25 AM PDT · by thackney · 23 replies
    Petroleum News Bakken ^ | Week of March 18, 2012 | Gary Park
    While the haggling continues over oil pipelines across North America and bottlenecks intensify in the U.S. mid-continent, Canadian Pacific Railway, or CPR, is in its fourth year of turning trains into a significant method of crude transportation. The Calgary-based company, determined to build an edge on its rival Canadian National Railway, has been leading the way in shipping crude from the Bakken field in North Dakota and Saskatchewan. It started at 500 rail cars in 2008, each holding 650 barrels (about 890 barrels per day), expanded to 13,000 cars last year (23,150 bpd) and is now targeting 70,000 cars (125,000...
  • Pioneer Bets On West Texas Shale Oil To Rival Bakken

    03/15/2012 12:20:21 PM PDT · by thackney · 15 replies · 1+ views
    Rig Zone ^ | March 15, 2012 | MARILYN ALVA|
    U.S. oil production is enjoying a renaissance, thanks to new technology that has made oil recovery possible in tight shale rock. The busy Bakken formation in North Dakota and Montana is the largest and best-known oil shale play. The Eagle Ford in South Texas and the Barnett "combo play" (gas and oil) in North Texas are also fairly famous unconventional plays. But the Wolfcamp Shale? "Over the next two or three years, everybody is going to be making a beeline to the Wolfcamp," said Scott Sheffield, chief executive of Pioneer Natural Resources. Spanning numerous counties across West Texas, the Wolfcamp...
  • Scarce Oil? U.S. Has 60 Times More Than Obama Claims

    03/14/2012 12:51:06 PM PDT · by IBD editorial writer · 55 replies
    Investor's Business Daily ^ | 03/14/2012 | John Merline
    When he was running for the Oval Office four years ago amid $4-a-gallon gasoline prices, then-Sen. Barack Obama dismissed the idea of expanded oil production as a way to relieve the pain at the pump. "Even if you opened up every square inch of our land and our coasts to drilling," he said. "America still has only 3% of the world's oil reserves." Which meant, he said, that the U.S. couldn't affect global oil prices....But the figure Obama uses — proved oil reserves — vastly undercounts how much oil the U.S. actually contains. In fact, far from being oil-poor, the...
  • Public meetings begin on federal oil shale plan

    03/12/2012 1:18:32 PM PDT · by mdittmar · 7 replies
    Colorado Springs Business Journal ^ | March 12,2012 | Staff Writer
    The federal government is holding the first of several public meetings on plans for oil shale development on public lands that would keep activity off thousands of acres of environmentally sensitive areas in three Western states. Under the proposal, new leases initially would be issued strictly for research on how to commercially produce oil from oil shale in Utah, Wyoming and Colorado.The first meeting is being held Monday in Silt to discuss the environmental impact and the different options that have been announced.The George W. Bush administration made almost 2 million acres available for potential oil shale development and 431,000...
  • How the US Shale Boom Will Change the World

    02/16/2012 8:20:26 AM PST · by Gritty · 66 replies
    OILPRICE.com ^ | 2/15/2011 | Gary Hunt
    A funny thing is happening on the way to the clean energy future–reality is setting in. There is ‘incontrovertible evidence’ about the economic growth and job creating effects of America’s unconventional oil and gas production boom – more than 600,000 jobs directly attributable to shale gas development. Even President Obama is praising the job creating benefits of ‘America’s resource boom’. America is getting its energy mojo back and that is good news but not the entire story. How Much Shale Gas is there in the United States? In July 2011 US EIA released a [Review of Emerging Resources: US Shale...
  • BLM issues draft programmatic EIS for western oil shale, tar sands

    02/07/2012 8:33:36 AM PST · by thackney · 7 replies
    Oil & Gas Journal ^ | 02/03/2012 | Nick Snow
    The US Bureau of Land Management published a draft programmatic environmental impact statement and possible land use amendments for federally administered oil shale and tar sands acreage in Colorado, Utah, and Wyoming. It also opened a 90-day comment period on the proposals on Feb. 3. The draft PEIS analyzes several land allocation and resource management alternatives, the US Department of the Interior agency noted. It said if it decides to adopt the preferred alternative, 461,965 acres would be available for research and development of oil shale (35,308 acres in Colorado, 252,181 acres in Utah, and 174,476 acres in Wyoming), and...
  • BLM proposes scaling back oil shale, tar sands development

    02/06/2012 5:31:48 AM PST · by thackney · 11 replies · 1+ views
    Fuel Fix ^ | February 3, 2012 | Puneet Kollipara
    The Bureau of Land Management on Friday proposed scaling back a George W. Bush-era plan for development of oil shale and tar sands on Western lands, drawing the ire of Republicans and industry groups. The plan would reduce the available acreage for oil-shale and tar-sands development by about three-fourths in Utah, Colorado and Wyoming in an attempt to protect environmentally sensitive areas. It also would pull back the Bush-era proposal to make oil-shale leases available for commercial development, instead continuing to lease them only for research-and-experimentation purposes. BLM announced last year it would redo the Bush-era plan as part of...
  • U.S. Shale Oil Revolution Has Only Just Begun

    01/17/2012 6:31:42 AM PST · by thackney · 24 replies
    Daily Markets ^ | January 14, 2012 | Mark Perry
    “If independent U.S. oil producers are right, last year was only a taste of the transformation that is coming to America’s oilpatch. Some optimists are already forecasting huge increases by 2015, perhaps taking U.S. oil production up by some two million barrels per day to 8 million bpd by then. Both the expertise of the industry and huge amounts of investment capital are already moving into less established shale plays hoping to replicate the success that has already materialized in North Dakota and Texas, which put these places on oil traders’ lips as the unprecedented slump in West Texas Intermediate...
  • Enbridge to expand Bakken shale crude rail terminal

    12/07/2011 12:22:32 PM PST · by thackney · 10 replies
    Oil & Gas Journal ^ | Dec 7, 2011 | Christopher E. Smith
    Enbridge Energy Partners LP (EEP) will expand its Berthold rail terminal capacity in the Bakken shale by 80,000 b/d and include a rail car loading facility to accommodate the additional volume. EEP has contractual commitments for 70% of the rail loading capacity and anticipates it will soon finalize agreements for the remaining capacity. The Berthold Rail Project includes construction of a double-loop unit-train facility, crude oil tankage, and other terminal facilities adjacent to its existing facilities near Berthold, ND. The project will have capacity to stage three unit-trains at Berthold at any given time. After an initial 10,000 b/d Phase...
  • BHP Billiton to Spend $4.5B On US Shale This Year

    11/14/2011 7:37:15 AM PST · by thackney · 12 replies
    Dow Jones via Rig Zone ^ | November 14, 2011 | Robb M. Stewart
    BHP Billiton plans to invest roughly US $4.5 billion developing the shale oil and gas assets it bought in the U.S. this financial year as it ramps up production, the head of the mining company's petroleum division said Monday. BHP expects capital spending to jump to almost US $6 billion in the 2015 fiscal year and roughly US $6.5 billion by 2020 as the company ramps up the number of rigs on its four project areas, Michael Yeager said in a conference call from Melbourne. BHP spent almost US $17 billion this year buying Petrohawk Energy Corp. along with its...
  • 'My students make twice my salary'

    11/01/2011 8:27:13 AM PDT · by thackney · 72 replies
    CNN Money ^ | Nov 1, 2011 | Blake Ellis
    Jim Stout, an English professor at Williston State College in Williston N.D., started losing some of his best students to the oil fields last year. It was too hard to compete: The students could either spend thousands of dollars on a college education or earn $100,000 a year working on the rigs, performing maintenance on oil wells or driving trucks. "At some point they decide, 'Well, college will always be here ... but the oil boom won't,'" he said. One engineering student dropped out of college last winter to take a job boiling the water used in hydraulic fracturing. In...
  • UPDATE 1-Statoil to build US shale crude shipping capacity

    10/18/2011 9:13:05 AM PDT · by thackney · 3 replies
    Reuters ^ | Oct 17, 2011 | Selam Gebrekidan
    Norway's Statoil will build more crude shipping capacity in the Williston Basin of North Dakota and Montana as part of its $4.4 billion bid for Austin-based Brigham Exploration a company executive said on Monday. The Norwegian state oil company said it would build more shipping capacity, with a focus on pipelines, but did not commit itself to any specific pipeline project. Analysts said that because of the deal's steep cost, the oil major will have to invest in infrastructure projects to recover some of its investment as it ramps up production. Statoil is looking to enter the Bakken and Three...
  • North Dakota soon to pass Alaska in oil production

    10/14/2011 11:04:57 AM PDT · by thackney · 20 replies
    Anchorage Daily News ^ | October 14th, 2011 | Associated Press
    North Dakota is poised to surpass California and Alaska to become the nation's No. 2 oil producer behind Texas. North Dakota's rise in oil production from the Bakken and Three Forks shale formations has propelled it from the nation's ninth-biggest oil producer to fourth since 2006. ... North Dakota is producing about 444,000 barrels daily.
  • Double your salary in the middle of nowhere, North Dakota (oil boom)

    10/06/2011 4:23:37 AM PDT · by EBH · 44 replies
    CNN ^ | 9/28/11 | Blake Ellis
    Believe it or not, a place exists where companies are hiring like crazy, and you can make $15 an hour serving tacos, $25 an hour waiting tables and $80,000 a year driving trucks. You just have to move to North Dakota. Specifically, to one of the tiny towns surrounding the oil-rich Bakken formation, estimated to hold anywhere between 4 billion and 24 billion barrels of oil. Oil companies have only recently discovered ways to tap this reserve. And along with the manpower needed to extract the oil, the town is now scrambling to find workers to support the new rush...
  • Report: North American oil output will hit all-time record by 2016

    09/28/2011 9:21:56 AM PDT · by thackney · 8 replies
    Fuel Fix ^ | September 28, 2011 | Tom Fowler
    Maybe Hubbert’s Peak isn’t the tallest mountain after all. North American oil production will hit a new all-time high by 2016 given the current pace of drilling in the U.S. and Canada, according to a study released by an energy research firm this week. U.S. oil production in areas like the Permian Basin, the Eagle Ford, Bakken and others will rise by a little over 2 million barrels per day between 2010 and 2016, according to data compiled by Bentek Energy, a Colorado firm that tracks energy infrastructure and production projects. It’s a reversal of the steady downward production trend...
  • Could Israel be another Middle East oil giant?

    09/28/2011 5:50:15 AM PDT · by decimon · 9 replies
    BBC ^ | September 27, 2011 | Daniel Estrin
    Prospectors in Israel say hundreds of feet below the ground lies shale rock that can be converted into billions of barrels of oil. But environmentalists say it's a disaster waiting to happen."This is the distinct smell I'm talking about when I talk about oil shale." > In recent years, big natural gas deposits were discovered off the coast, but the country still imports much of its gas from its neighbour to the south, Egypt. That supply is precarious. This year it was interrupted by a string of attacks on gas pipelines running through the Sinai desert. And concerns remain about...
  • New Boom Reshapes Oil World, Rocks North Dakota

    Two years ago, America was importing about two thirds of its oil. Today, according to the Energy Information Administration, it imports less than half. And by 2017, investment bank Goldman Sachs predicts the US could be poised to pass Saudi Arabia and overtake Russia as the world's largest oil producer. Places like Williston are the reason why. "For many years, they knew that there was oil in that area, but the technology wasn't available to get it out," the town's mayor, Ward Koeser, tells weekends on All Things Considered host Guy Raz. But in the last few years, advances in...
  • NuStar to add to pipelines in deal with Valero {Eagle Ford Shale}

    09/08/2011 5:09:14 AM PDT · by thackney · 4 replies
    Fuel Fix ^ | September 8, 2011 | Vicki Vaughan
    NuStar Energy LP and Valero Energy Corp. have agreed that NuStar will add to its pipeline system to enable Valero to transport more crude oil from the rapidly developing Eagle Ford shale to three of its South Texas refineries. The changes will help Valero transport more crude to its plants in Three Rivers and Corpus Christi, where it has two refineries. The deal between the two San Antonio-based companies “is part of a larger project to optimize our pipelines in South Texas,” NuStar spokeswoman Mary Rose Brown said, as part of improvements expected to cost $135 million to $150 million....
  • Musings: Are The Shale Resource Estimates Realistic Or Fantasy?

    03/29/2011 11:13:52 AM PDT · by thackney · 14 replies
    Parks Paton Hoepfl & Brown via Rig Zone ^ | |Tuesday, March 29, 2011 | G. Allen Brooks
    Maybe you've seen the advertisements from various financial newsletters touting the investment potential of companies involved in developing the Bakken oil shale formation that spreads across North Dakota and Montana and into the neighboring Canadian provinces of Saskatchewan and Manitoba. The claims, which several years ago appeared outrageous, of the Bakken containing eight times the amount of oil as in Saudi Arabia or 21-times the reserves held by Kuwait seem less than fantasy today. These newsletters began trumpeting the financial impact of the Bakken for various oil exploration companies active in the formation following the 2008 U.S. Geological Service (USGS)...
  • How Israel could revolutionize the global energy sector [should read US]

    03/11/2011 4:01:10 PM PST · by SJackson · 11 replies
    Jerusalem Post ^ | 3-11-11 | DORE GOLD
    New data suggests Israel may not only have much larger gas resources than believed, but also the 3rd largest deposit of oil shale in the world. Libyan oil accounts for less than 2 percent of world oil production, yet the revolt against Muammar Gaddafi has managed to shoot up the price of oil to more than $100 per barrel in the last month. No one knows how long the internal instability in the Middle East will last, but according to the US Department of Energy, its share of the world’s total oil supply is expected to actually increase in the...
  • Is "shale oil" the answer to "peak oil"? (Long)

    03/05/2011 4:11:36 PM PST · by Hojczyk · 37 replies
    The Oil Drum ^ | March 4,2011 | Gail the Actuary
    Readers have been asking questions about a couple of shale oil articles recently. One is an AP article called New drilling method opens vast oil fields in US. A similar article is a CNBC article titled Massive New US Oil Supply – ‘Peak Oil’ Fears Overblown? Both of these articles talk about the extraction of shale oil in the Bakken and other locations, using horizontal wells and hydraulic fracturing. According to the AP article: Companies are investing billions of dollars to get at oil deposits scattered across North Dakota, Colorado, Texas and California. By 2015, oil executives and analysts say,...
  • Chesapeake Moves Into Ohio, As State Braces For Oil Shale Boom

    02/28/2011 6:04:31 PM PST · by saganite · 20 replies
    automatedtrader/dow news wire ^ | 28 February 2011 | Ryan Dezember
    For many residents of this northeast Ohio hamlet, the oil bonanza began with a knock at the door. City Hall received a fax. Spit from that machine last summer was a mineral rights lease offer -- just like those being hand-delivered to homeowners -- from oil and gas explorer Chesapeake Energy Corp. (CHK). In the subsequent months Chesapeake's oil-field leasing agents swarmed the region, laying claim to what the company and others say may be one of the last big unconventional oil discoveries in the U.S. "It was a mad rush," said Mayor Rob Donham. Windham eventually sold Chesapeake the...
  • One condition: Capacity needed to get the oil out {TX, Eagle Ford}

    02/24/2011 9:33:57 AM PST · by thackney · 19 replies
    San Antonio Express via Houston Chronicle ^ | Feb. 23, 2011, 10:38PM | VICKI VAUGHAN
    The Eagle Ford shale, a vast oil and natural gas play in South Texas, will become one of the state's fastest-growing areas for new business and job creation over the next decade, experts said Wednesday. That's if they can get the oil out. Pipelines already are full, and companies are having to truck it out or ship it by rail. Jumps in leased acreage and in drilling permits signal the rapid advance of the Eagle Ford as an energy-producing area, experts said at a meeting of the Texas Alliance of Energy Producers in San Antonio. ... Drilling permits issued jumped...
  • Ohio Braces for Oil Shale Boom

    02/23/2011 10:45:42 AM PST · by thackney · 24 replies
    Dow Jones via Rig Zone ^ | Feb. 23, 2011 | Ryan Dezember|
    ... Spit from that machine last summer was a mineral rights lease offer -- just like those being hand-delivered to homeowners -- from oil and gas explorer Chesapeake. In the subsequent months Chesapeake's oil-field leasing agents swarmed the region, laying claim to what the company and others say may be one of the last big unconventional oil discoveries in the U.S. "It was a mad rush," said Mayor Rob Donham. Windham eventually sold Chesapeake the right to drill underneath 100 acres that hold the town's municipal buildings and ball fields for $55,000 -- enough to buy two new police cars...