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Keyword: shale

Brevity: Headers | « Text »
  • ‘Authorities,’ media don’t understand petroleum economics

    01/17/2019 11:32:28 PM PST · by brownwill6767 · 12 replies
    Midland Reporter Telegram ^ | 1/15/19 | Daniel Fine
    The United States and its southwest tight and shale oil has changed from dependence on world oil to domination. News of the size of oil reserves in the Delaware Basin (New Mexico’s share of the Permian) while OPEC was deciding how many barrels it will cut from the world market to lift prices caused epic confusion — and revelations of how little “authorities” and the media understand petroleum economics. The New Mexico media, which relies mainly on interviews with petroleum industry spokespersons, got it wrong. Recommended Video Government numbers came out as 46 billion barrels (Permian total) with 26 in...
  • In Oil’s Huge Drop, All Signs Say Made in the U.S.A.

    11/23/2018 5:37:13 PM PST · by DUMBGRUNT · 36 replies
    WSJ ^ | 12 Noc 2018 | Stephanie Yang
    The downward spiral in oil prices is accelerating as a surge in crude production from a turbocharged U.S. petroleum industry runs into weaker global economic growth. A big reason why: the emergence of the U.S. oil industry as one of the world’s most important players. Ballooning shale production—American output has nearly doubled since the start of 2012—has made the U.S. a key supplier and exacerbated worries about a global glut of crude. The U.S. now exports more energy than it imports, by one measure. ...defying skeptics who previously warned OPEC’s grip on world markets had slipped thanks to U.S. shale.
  • US Set to Become World's Top Oil Producer

    07/12/2018 5:51:42 AM PDT · by Hostage · 44 replies
    Newsmax ^ | July 12, 2018 | Newsmax
    The U.S. government sees oil production further climbing next year even amid transportation logjams in the country’s most prolific shale play. The Energy Information Administration sees U.S. crude output averaging 11.8 million barrels a day in 2019, up from its 11.76 million barrel a day estimate in the June outlook. “In 2019, EIA forecasts that the United States will average nearly 12 million barrels of crude oil production per day,” said Linda Capuano, Administrator of the EIA. “If the forecast holds, that would make the U.S. the world’s leading producer of crude.” U.S. crude output has remained above the 10-million-barrel...
  • Where are those good paying energy jobs? Right here.

    06/04/2018 12:48:39 AM PDT · by 2ndDivisionVet · 6 replies
    The Pittsburgh Post-Gazette ^ | May 14, 2018 | Anya Litvak
    Not to distract from the eye-popping salaries of top energy executives, but there is something else eye-opening about comparing oil and gas CEOs to the average oil and gas worker. The median workers at these companies, at least the ones producing most of natural gas in Pennsylvania, are doing quite well. Yes, they still might earn 100 times less than their CEOs, but just try sneezing at these median compensation numbers. •CNX Resources: $129,390 •Range Resources: $123,500 •Chesapeake Energy: $118,761 •Southwestern Energy: $108,458 •EQT: $102,470 •Cabot Oil & Gas: $75,891 With about 8,500 employees among them, these Marcellus Shale operators...
  • U.S. Looks To Dethrone Russia As Top Oil Producer

    03/01/2018 7:46:45 AM PST · by bananaman22 · 8 replies
    Oilprice.com ^ | 01-03-2018 | Tsveta
    ust a few years ago, hardly anyone expected that that the U.S. would be competing with the world’s top oil producers for the number 1 spot. Yet, thanks to the shale resurgence, here we are—over the past few weeks, American crude oil production outstripped that of Saudi Arabia, OPEC’s de facto leader and biggest exporter. Now the U.S. is on track to dethrone in the coming months the world’s current leader in oil production: Russia.
  • Argentina Is On The Cusp Of A Shale Boom

    02/16/2018 11:05:04 AM PST · by nickcarraway · 15 replies
    OILPRICE ^ | Feb 15, 2018 | Matthew Smith
    The end of the Peronist hold on Argentine politics and rise of pro-business president Mauricio Macri has heralded in a new age for what was long regarded as one of the most economically unstable nations in Latin America. The former Buenos Aires mayor and businessman won the presidency in 2015, ousting his mercurial populist Peronist predecessor Cristina Fernández de Kirchner. Since coming to power, Macri has worked to restructure a shattered economy ruined by decades of market warping tariffs and subsidies, protectionism, heavy handed regulation, rampant inflation and unsustainable fiscal policies. The center-right president has been able to achieve what...
  • Saudi Oil Minister Tired Of Shale Hype

    01/30/2018 4:39:34 PM PST · by nickcarraway · 27 replies
    OILPRICE ^ | Jan 25, 2018 | Nick Cunningham
    “I was not disputing the amazing revolution of shale . . .[but] in the overall global supply demand picture it’s not going to wreck the train,” al-Falih said, charging that the IEA is overstating the role of shale in a global market. “We should not be scared,” he added. “That’s the core job of the IEA, not to take it out of context.” Al-Falih has clearly become annoyed at all the pestering from reporters and market analysts about the prospect of U.S. shale spoiling OPEC’s plans this year. He put on a brave face and dismissed questions about OPEC losing market share as...
  • Chinese investment could begin to pay off within a year 'We're going full steam ahead, immediately'

    11/12/2017 7:58:39 AM PST · by 2ndDivisionVet · 10 replies
    The Exponent Telegram ^ | November 12, 2017 | Rusty Marks
    CHARLESTON — After news broke that state officials had brokered an $83.7 billion deal with China Energy Investment Corporation to invest in West Virginia’s shale gas and chemical industries, one of the first questions to come up was how soon the Mountain State might see the fruits of the agreement. “We’re going full steam ahead, immediately,” state Commerce Secretary Woody Thrasher said in a telephone call from China. According to U.S. Sen. Shelley Moore Capito, R-W.Va., Thrasher and others familiar with the memorandum of understanding, ground could be broken within six to eight months on two gas-fired power stations to...
  • World’s No.1 Oil Trader: U.S. To See Final Oil Output Spike In 2018

    10/11/2017 1:45:59 PM PDT · by bananaman22 · 13 replies
    Oilprice.com ^ | 11-10-2017 | Julianne
    The best is yet to come for US oil production—but it will be a short-lived hurrah, according to Ian Taylor, head of oil trading giant Vitol. US oil production has steadily increased throughout 2017 as US drillers regained their footing after the oil price crash. What started out at 8.946 million bpd of crude oil production in the first week of January has now reached an average of 9.561 million bpd as of September 29, according to the EIA.
  • Colorado shale is almost size of Marcellus;

    08/08/2017 10:01:26 AM PDT · by ckilmer · 48 replies
    fc-gi.com ^ | Jun 14, 2016
    Intelligence brief: Colorado shale is almost size of Marcellus; Pipeline bill calls for new technologies Jun 14, 2016 Colorado is famous for its high peaks; now it could also be known for its shale Colorado sits on 40 times more natural gas than previously thought, according to an updated estimate by the US Geological Survey.The USGS said the Mancos Shale in the Piceance Basin contains about 66 trillion cubic feet of undiscovered, technically recoverable shale natural gas, 74 million barrels of shale oil and 45 million barrels of natural-gas liquids, according to the estimate, the first since 2003.More than 2,000...
  • Dr. Daniel Fine is a nice addition

    07/10/2017 5:50:48 PM PDT · by brownwill6767 · 6 replies
    Roswell Daily Record ^ | 7/8/17 | John A. Yates Jr.
    The recent article by Dr. Daniel Fine in the guest column of your Wednesday edition concerning the impacts of Saudi Arabian-led dismantlement of our lively domestic energy business via flooding the market with underpriced foreign crude from numerous Middle Eastern national oil companies along with other foreign producers like bad actor Venezuelan and Russian puppet oil regime cronies are making for difficulty in our New Mexican oil patch.
  • Paving the path to U.S. energy dominance

    06/26/2017 7:53:36 PM PDT · by 2ndDivisionVet · 4 replies
    The Washington Times ^ | June 26, 2017 | Rick Perry and Ryan Zinke and Scott Pruitt
    ‘Energy Week’ highlights the role of American resources in securing prosperity This week, the Trump administration is hosting “Energy Week” to discuss with state, tribal, business and labor leaders how we can pave the path forward toward U.S. energy dominance. This is a truly amazing moment in the energy sector, and President Trump is seeking to capitalize on the opportunity for the betterment of the American economy and our citizens. For the first time in four decades, the energy story in the United States is about becoming an energy exporter and no longer about peak resources or being beholden to...
  • New Briquetted Iron Plant for East Toledo, OH (1.200 const. jobs & 130 perm. jobs at $100K year)

    06/19/2017 11:55:35 PM PDT · by 2ndDivisionVet · 9 replies
    Cleveland's Cliffs Natural Resources Inc. announced it will build the Midwest's first-ever plant producing hot briquetted iron used in steelmaking. The $700 million project is expected to break ground in early 2018 on the Ironville site in East Toledo, a former Brownfield site. The project is scheduled to create 1,200 construction jobs and 130 permanent jobs. Hourly jobs at the plant will pay about $100,000, said Lourenco Goncalves, chairman, president and chief executive officer of the 170-year-old mining and natural resources company. The plant will be Cliffs' first facility in Ohio and is to begin production in 2020. "We got...
  • (PIRI) Calls for New White House Policy: Unfair Trade Endangers U.S. Oil Industry Too

    05/27/2017 10:34:20 PM PDT · by brownwill6767 · 16 replies
    Business Wire ^ | 5/18/17 | The Panhandle Import Reduction Initiative
    AMARILLO, Texas--(BUSINESS WIRE)--In a letter directed to the President of the United States and received by the White House, the founders of (PIRI), the Panhandle Import Reduction Initiative representing thousands of independent small producers of oil in the Southwest United States wrote, “We call upon President Donald J. Trump for a second Presidential Memorandum to order the Secretary of Commerce, to establish the crude oil industry as a “Core” industry to be added to steel, aluminum, vehicles, aircraft, shipbuilding and semiconductors. Crude oil should be recognized as one of the critical elements of US manufacturing and defense industrial bases, which...
  • Ethane hub gets bipartisan support (100,000 jobs in West Virginia averaging $90,000 a year)

    05/20/2017 2:50:41 PM PDT · by 2ndDivisionVet · 21 replies
    The Herald-Star ^ | May 20, 2017 | Joselyn King
    WHEELING — West Virginia’s congressional delegation is showing a unified front in pushing for an ethane storage hub for central Appalachia, and they hope state leaders in Ohio and Pennsylvania join them. U.S. Sens. Joe Manchin, D-W.Va., and Shelley Moore Capito, R-W.Va., were joined Thursday by Rep. David McKinley, R-Wheeling, and American Chemistry Council President Cal Dooley for a news conference to tout the economic benefits of placing the hub near oil and gas reserves in Appalachia rather than near chemical industry operations on the Gulf Coast. Manchin and Moore, along with Sen. Rob Portman, R-Ohio, last week introduced the...
  • Oil Prices Crash To Pre-OPEC Deal Levels

    05/04/2017 9:09:00 AM PDT · by bananaman22 · 31 replies
    Oilprice.com ^ | 04-05-2017 | Para
    Oil prices dropped on Thursday to their lowest level since last November, with Brent breaking below $50, amid concerns of rising global supply and still high inventories. At 11:22am EDT, WTI Crude was trading down 2.82 percent at $46.47, while Brent was down 2.62 percent at $49.46 -- with both WTI and Brent having effectively wiped out all the price gains since OPEC announced on 30 November 2016 the output cut deal aimed at reducing oversupply and propping up prices. On Wednesday, a day after the American Petroleum Institute (API) injected a bit of optimism among traders by reporting a...
  • 2020s To Be A Decade of Disorder For Oil

    04/17/2017 8:08:09 AM PDT · by bananaman22 · 18 replies
    Oilprice.com ^ | 17-04-2017 | Nicholas
    The 2020s could be a “decade of disorder” for the oil markets as the lack of drilling today leads to a shortfall of supply. Demand will continue to grow, year after year, and shale will not be able to keep up. It may be hard to envision today, with an oil market suffering from low prices and a glut of supply. Falling breakeven prices have drillers still churning out huge volumes of shale oil, with production in the U.S. already rebounding and rising on a weekly basis. The tidal wave of shale, however, is the direct result of extreme market...
  • Report: Service companies to ramp-up hiring efforts this year (Oil and gas)

    04/06/2017 3:48:40 PM PDT · by 2ndDivisionVet · 1 replies
    Offshore Magazine ^ | April 6, 2017 | Staff
    OSLO, Norway – Recent research from Rystad Energy shows that oilfield service companies should begin recruiting later this year following the significant workforce reduction in the industry throughout 2014 to 2016. Service companies working within the shale sector are already starting to recruit again, the analyst firm said, after the top four service companies, all of which were exposed to the US land market, were forced to lay off between 30-40% of their workforce. Rystad found that companies exposed to more of the international market have cut more modestly, in the range of 20-30%. “Among the top 50 service companies,...
  • What Petro States Can Learn From The U.S. Shale Boom

    03/08/2017 10:48:06 AM PST · by bananaman22 · 6 replies
    The dynamics of the oil industry have changed dramatically since the beginning of 2010. Because of the U.S. shale revolution, the U.S. is now a country with oil production rivaling that of Saudi Arabia and Russia. The fundamental shift in oil power has come as a direct result of investment in the technology of horizontal drilling and hydraulic fracturing of tight oil formations in the U.S. In 2010, U.S. production from tight oil shale formations were marginal in comparison to total U.S. oil production; however, tight oil now makes up 52 percent of all U.S. oil production.
  • Donald Trump vows to unlock $66 trillion shale oil and gas revolution

    01/23/2017 12:32:21 PM PST · by 2ndDivisionVet · 55 replies
    The Australian ^ | January 23, 2017 | Graham Lloyd
    US President Donald Trump has pledged to unlock a $US50 trillion ($66 trillion) shale oil and gas revolution and boost development of low emissions coal technology for electricity. The Energy First plan was outlined as the top priority in President Trump’s first action statement after being sworn into office. The statement committed Trump to scrapping the Obama government’s Climate Action Plan but did not mention renewable energy or whether the US would remain in the Paris agreement. It was a full endorsement of the future use of fossil fuels. The Trump plan mirrors debate in Australia over energy security. The...