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Keyword: shaleoil

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  • USGS announces largest estimate of oil and gas ‘ever assessed in the United States’

    11/16/2016 4:41:20 PM PST · by Kaslin · 103 replies
    Hot ^ | November 16, 2016 | JOHN SEXTON
    Tuesday the U.S. Geological Survey announced the largest ever assessment of “continuous oil” ever made in the United States. The Wolfcamp shale in the area of Midland, Texas is estimated to contain three times the oil and gas of the Bakken shale formation in Montana and North Dakota. From the USGS: The Wolfcamp shale in the Midland Basin portion of Texas’ Permian Basin province contains an estimated mean of 20 billion barrels of oil, 16 trillion cubic feet of associated natural gas, and 1.6 billion barrels of natural gas liquids, according to an assessment by the U.S. Geological Survey. This...
  • Russia, Saudis tentatively offer to freeze oil output levels

    02/16/2016 3:13:27 AM PST · by Olog-hai · 8 replies
    Associated Press ^ | Feb. 16, 2016 5:50 AM EST
    Russia's energy ministry says it has agreed with Saudi Arabia, Qatar and Venezuela to freeze oil production levels if other producers do the same. [...] Getting other producers to go along with that could be tricky. Prices have fallen sharply slump in prices since summer 2014, leaving producers scrambling to win market share from competitors. ...
  • Why Oil Rig, Budget Cuts Will Be Slow To Curb Shale

    03/02/2015 1:16:31 PM PST · by gogeo · 2 replies
    Investors Business Daily ^ | Feb 27, 2015 | Gillian Rich
    While U.S. shale producers have slashed billions of dollars from capital budgets and taken more than 600 oil rigs offline since October, it may be several months before production actually falls as companies focus on their most efficient wells. Read More At Investor's Business Daily: Follow us: @IBDinvestors on Twitter | InvestorsBusinessDaily on Facebook
  • High Noon on the Gulf Coast: Canada, Saudi Oil Set for Showdown

    01/06/2015 10:43:07 AM PST · by thackney · 9 replies
    Reuters via Rig Zone ^ | January 06, 2015 | Catherine Ngai
    As a test of wills between OPEC nations and U.S. shale drillers fuels a global oil market slump, a brewing battle between Canadian and Saudi Arabia heavy crudes for America's Gulf Coast refinery market threatens to drive prices even lower. While the stand-off between the oil cartel and U.S. producers of light, sweet shale oil has captured the limelight in recent months, the clash over heavier grades - playing out in the shadowy, opaque physical market - may put even more pressure on global prices that have halved since mid-2014. Two factors will come into play over the next few...
  • Low Oil Prices: A $660 Billion Stimulus Package

    10/17/2014 3:01:13 AM PDT · by 2ndDivisionVet · 18 replies
    BuzzFeed News ^ | October 16, 2014 | Matthew Zeitlin
    Crude prices have plunged by more than 20% in recent months. The fall means cheaper gas, cheaper flights, and generally good news for American consumers. Oil prices have been falling for months, and the slide could easily continue. With unprecedented instability in the Middle East, how could this be happening? The answer, according to analysts who follow the market, is a little bit of everything, from economic fundamentals in big oil consuming countries to growth in output among some oil producers. But much more clear is the effect of tumbling prices: Low oil prices are the equivalent of a massive...
  • US shale oil growth covers up production drop in rest-of-world

    09/18/2014 7:24:16 AM PDT · by ckilmer · 19 replies
    resilience ^ | Sep 17, 2014 | by Matt Mushalik,
    US shale oil growth covers up production drop in rest-of-world by Matt Mushalik, originally published by Crude Oil Peak  | Sep 17, 2014  We use the period starting with January 2010 when crude production had come back to 2005 levels after the exceptional year of 2009.Fig 1: US crude oil vs crude oil in rest-of-world   While US shale oil production is growing, there was a drop in crude production in the rest of world since February 2012 of almost 2 million barrels/d. How did this come about? As usual, there is decline and growth and then we have geopolitics....
  • The Utica Shale Is Starting to Look "Extraordinary"

    09/11/2014 1:51:17 PM PDT · by ckilmer · 20 replies ^ | September 11, 2014 | Matt DiLallo |
    The Utica Shale Is Starting to Look "Extraordinary" By Matt DiLallo | More Articles | Save For Later September 11, 2014 | Comments (1)   Chesapeake Energy.  Few people are as bullish on the future of the Utica shale as the founder and former CEO of Chesapeake Energy (NYSE: CHK  ) , Aubrey McClendon. He famously once called it the "biggest thing economically to hit Ohio, since maybe the plow." More recently, he called it "extraordinary" and said that "pound for pound, it's the best gas rock in the U.S." What's different this time is McClendon is no longer alone in his...
  • Eagle Ford production likely to double, consultancy predicts

    06/10/2014 8:26:06 AM PDT · by ckilmer · 3 replies ^ | Jun 5, 2014, 11:02am CDT | Sanford Nowlin
    Jun 5, 2014, 11:02am CDT Eagle Ford production likely to double, consultancy predicts   Enlarge Photo Eddie Seal Orion Drilling Co.'s Perseus rig prepares to drill for hydrocarbons in the Eagle Ford Shale. Output from the South Texas formation is likely to reach 2 million barrels per day, according to a new Wood Mackenzie analysis. Photo: Eddie Seal/Bloomberg   Sanford Nowlin Crude oil and condensate output from South Texas’ Eagle Ford Shale is expected to double to 2 million barrels per day by 2020, according to energy consulting firm Wood Mackenzie.That means output from the oil-and-gas formation south of...
  • Bakken Shale oil production to hit 1.7 million Bpd in 2020

    06/10/2014 8:06:37 AM PDT · by ckilmer · 4 replies ^ | April 09, 2014
    Bakken Shale oil production to hit 1.7 million Bpd in 2020 April 09, 2014       mellypage/iStockphoto/Thinkstock   Oil reserves worth approximately $118 billion are still lying under the Bakken/Three Forks Shale play system in Montana and North Dakota, according to a new estimate by research and consultancy group Wood Mackenzie. What's more, the play is extremely profitable, as the analysis claims that each one of the sub-plays yields positive returns.Jonathan Garrett, Americas upstream research analyst for Wood Mackenzie, explained that production from the Bakken/Three Forks Shale is predicted to come in at about 1.1 million barrels per day...
  • High Oil Prices Are Here To Stay

    06/09/2014 5:29:20 PM PDT · by ckilmer · 34 replies
    nasdaq ^ | June 09, 2014, 09:30:00 AM EDT | By StreetAuthority
    American oil production is surging. Yet oil prices remain near $100 a barrel. You may be wondering: When will all of this additional production finally overtake demand and push the price of oil down? You can find one answer in the price of oil futures -- which say we can expect oil to fall to closer to $80 in the coming few years and stay there.
  • US Shale Plays to Watch in 2014

    06/04/2014 12:13:37 PM PDT · by ckilmer · 14 replies
    rigzone ^ | Wednesday, November 27, 2013 | Karen Boman |
    US Shale Plays to Watch in 2014 by  Karen Boman | Rigzone Staff | Wednesday, November 27, 2013 The U.S. shale exploration and production boom has dramatically changed the U.S. energy landscape, unlocking enough natural gas resources to turn the country into a future exporter of liquefied natural gas while reversing the decline seen a few years ago in U.S. crude oil production.While unconventional plays such as the Eagle Ford and Bakken are well-known, DrillingInfo CEO Allen Gilmer told Rigzone he sees potential for exploration and production activity in 2014 and beyond for some emerging U.S. shale plays.These plays...
  • Here is America's Next Great Shale Play

    06/03/2014 3:13:50 PM PDT · by ckilmer · 13 replies ^ | June 1, 2014 | Matt DiLallo
    Here is America's Next Great Shale Play By Matt DiLallo | More Articles | Save For Later June 1, 2014 | Comments (0)   Photo credit: Chesapeake Energy  Chesapeake Energy  (NYSE: CHK  )  recently held its annual investor day. Among the many topics the company discussed was its emerging position in the Powder River Basin in the Rocky Mountains, which it sees becoming a world-class asset. That enthusiasm isn't just being conveyed by Chesapeake Energy. Earlier this year, EOG Resources  (NYSE: EOG  )  announced that it was adding four new Rocky Mountain oil plays to its drilling inventory while Devon Energy  (NYSE: DVN  )  noted that it was drilling...
  • Digging Deeper into the Bakken: The Three Forks Oil Formation

    05/26/2014 9:05:47 AM PDT · by ckilmer · 7 replies ^ | November 6, 2013 | Keith Schaefer
    Digging Deeper into the Bakken: The Three Forks Oil Formation by Keith Schaefer on November 6, 2013 One year ago, I wrote this story, asking—could the Bakken ever hit 1 million barrels of oil per day (bopd) production?Well, now the Market is asking—when (not if) will it hit 2 million?A massive, 76-page report from Goldman Sachs from late September suggests 2023—that’s another TEN YEARS of growth—with the biggest growth year being next year, in 2014.In fact, they say the worst case scenario for the Bakken is now 1.3 million in 2017. One million? Pfffftttt…yesterday’s news.A smaller examination from Credit Suisse in early October suggests the...
  • China's Energy Treasure Trove May Just Be Fool's Gold After All

    05/25/2014 6:37:17 PM PDT · by ckilmer · 27 replies
    fool ^ | May 25, 2014 | Tyler Crowe
    China's Energy Treasure Trove May Just Be Fool's Gold After All By Tyler Crowe | More Articles | Save For Later May 25, 2014 | Comments (0) What is more disappointing? Finding out that you missed out on something from the get go, or getting good news and only later finding out that it wasn't what you expected? Personally, I think the latter is harder to stomach, and that is why PetroChina (NYSE: PTR  ) and Sinopec (NYSE: SNP  ) probably aren't taking the recent news about China's shale gas reserves too well. Let's take a look at how what were once...
  • Blackmon: Eagle Ford likely to last longer than past booms

    05/07/2014 4:13:25 PM PDT · by ckilmer · 12 replies ^ | May 6, 2014 10:11pm | By David Blackmon
    People often ask how long we should expect the current boom in shale oil and natural gas that is happening in Texas and throughout much of the United States to last. The correct answer today will be some variation on the theme: "A very long time."
  • The Bakken Shale Hits a Billion. How Much More Is Left in the Tank?

    05/07/2014 8:04:22 AM PDT · by ckilmer · 23 replies ^ | May 5, 2014 | By Matt DiLallo
    The Bakken Shale Hits a Billion. How Much More Is Left in the Tank? By Matt DiLallo | More Articles | Save For Later May 5, 2014 | Comments (0) How soon will the sun set on the Bakken Shale boom? Photo credit: Flickr/katscool.Continental Resources (NYSE: CLR  ) recently noted that the Bakken Shale underneath North Dakota and Montana recently produced its billionth barrel of oil. The company, which has been a leader in developing the field, thinks we've only just begun to recover the oil trapped within these rocks. For a really interesting animation that shows how production in the...
  • Shale boom: Pipeline welders make $150,000 in Ohio, while liberal arts majors flounder

    04/24/2014 10:31:19 AM PDT · by PJ-Comix · 37 replies
    Daily Caller ^ | April 23, 2014 | Michael Bastasch
    he economy is tough, especially if you have a liberal arts degree, writes Ohio Treasurer Josh Mandel. While liberal arts majors are forced to take low-paying jobs, pipeline welders are making six figures thanks to the country’s oil and gas boom. “Too many young people have four-year liberal-arts degrees, are thousands of dollars in debt and find themselves serving coffee at Starbucks or working part-time at the mall,” Mandel wrote in the Wall Street Journal. “Many of them would have been better off with a two-year skilled-trade or technical education that provides the skills to secure a well-paying job.”“A good...
  • Fracking foes cringe as unions back drilling boom

    04/20/2014 10:24:03 AM PDT · by mdittmar · 15 replies
    yahoo ^ | 4/20/2014 | Kevin Begos, Associated Press
    Environmental groups cringe as some trade unions support oil and gas drilling, pipelines PITTSBURGH (AP) -- After early complaints that out-of-state firms got the most jobs, some local construction trade workers and union members in Pennsylvania, Ohio and West Virginia say they're now benefiting in a big way from the Marcellus and Utica Shale oil and gas boom.That vocal support from blue-collar workers complicates efforts by environmentalists to limit the drilling process known as fracking."The shale became a lifesaver and a lifeline for a lot of working families," said Dennis Martire, the mid-Atlantic regional manager for the Laborers' International Union,...
  • Vast oil trove trapped in Monterey Shale formation

    04/08/2014 9:51:16 AM PDT · by Praxeologue · 50 replies
    Los AngelesTimes ^ | April 6, 2014 | Julie Cart
    SHAFTER, Calif. — A bustling city is sprouting on five acres here, carved out of a vast almond grove. Tanker trucks and heavy equipment come and go, a row of office trailers runs the length of the site and an imposing 150-foot drilling rig illuminated by football-field-like lights rises over the trees. It's all been hustled into service to solve a tantalizing riddle: how to tap into the largest oil shale reservoir in the United States. Across the southern San Joaquin Valley, oil exploration sites have popped up in agricultural fields and on government land, driven by the hope that...
  • Obama Redeems His Pledge to Be 'Flexible' for Putin

    03/16/2014 6:20:11 AM PDT · by Kaslin · 7 replies ^ | March 16, 2014 | John Ransom
    Truth001 wrote: Putin has got to be laughing his rear end off because the US is the only place where the people eat their own. He is got to be saying I can do know wrong I'm a hero to those US media conservative outlets and its checkmate to the US left and its western allies. Oh by the way John post another picture of this guy next time or at least one with a shirt. If you want to look at this guy without a shirt do it in private. --Putin, Not Obama, is the Messiah Dear Comrade Pravda,...
  • Exxon Mobil bearish on shale drilling abroad

    03/11/2014 8:54:23 PM PDT · by ckilmer · 6 replies
    dallasnews ^ | 12:37 pm on March 5, 2014 | James Osborne
    Exxon Mobil bearish on shale drilling abroad
  • Pioneer Flourishes in U.S. Shale Fields Where Shell Floundered

    03/11/2014 10:15:31 AM PDT · by ckilmer · 3 replies
    Pioneer Flourishes in U.S. Shale Fields Where Shell Floundered By Joe Carroll Mar 10, 2014 7:00 AM ET Pioneer Natural Resources Co. (PXD), the top energy stock in the S&P 500 last year, is tripling drilling in shale fields as international energy explorers five times its size recoil from losses on the U.S. oil renaissance.Pioneer is expanding its fleet of drilling rigs in the northern part of Texas’ Spraberry field to 16 from five this quarter after striking reservoirs so rich that some wells are expected to pump as much as 1 million barrels of crude during their lifespans. Pioneer’s...
  • Must-know: US oil rig counts reached a new 2014 high of 1,423

    02/24/2014 1:00:12 PM PST · by ckilmer · 3 replies
    marketrealist ^ | • Feb 21, 2014 2:05 pm EST | By Ingrid Pan, CFA
    Must-know: US oil rig counts reached a new 2014 high of 1,423 By Ingrid Pan, CFA - Disclosure • Feb 21, 2014 2:05 pm EST • EOG • OAS • PXD • XLE • XOM Continued from Part 1: Why rig counts show a stable oil and gas drilling environmentOil rig counts increased last week to 1,423, the highest level since 2014 beganLast week, the Baker Hughes oil rig count increased from 1,416 to 1,423, the highest level since 2014 began. Oil rig counts have risen by 45 (or 3%) since the beginning of 2014, with a large part of...
  • Shell Sees Stable Oil Price for 20 Years With Volatility Bursts

    02/13/2014 11:21:24 AM PST · by ckilmer · 11 replies
    moneynews ^ | Thursday, 13 Feb 2014 12:13 PM
    Royal Dutch Shell Plc., Europe’s biggest oil company, said crude prices would on average probably remain at current levels or rise steadily for the next two decades, with periods of volatility.
  • The High Cost of Fracking Regulation

    02/12/2014 1:34:05 PM PST · by neverdem · 8 replies
    American Thinker ^ | February 12, 2014 | Jeffrey Folks
    In Europe, where fracking is heavily regulated or prohibited altogether, consumers pay more than twice for natural gas than what they do in America (currently $11.59 per mBtu vs $4.78). As consumers, businesses, and electric utilities pay more, the result is a stalled economy and lower standard of living. Thanks in part to its large investment in solar energy, Spain's per capita GDP in current U.S. dollars has dropped from $31,679 in 2010 to $28,624 in 2012. Based on his recent words and actions, Obama wants the same for the U.S. Over half the homes in America heat with natural...
  • U.S. Growth Picture Brightens as Exports Hit Record

    01/07/2014 9:08:38 PM PST · by ckilmer · 8 replies
    wsj ^ | Jan. 7, 2014 6:33 p.m. ET | Jeffrey Sparshott
    Energy Boom Helps Narrow Trade Gap
  • The Year in Energy: 10 Big Energy Stories of 2013

    01/02/2014 9:10:58 PM PST · by ckilmer · 7 replies
    theenergycollective ^ | January 2, 2014 | Jesse Jenkins
    The Year in Energy: 10 Big Energy Stories of 2013                 As 2013 comes to a close, it's time to look back at the big energy stories of the year. Here's my top 10 stories from 2013...1. Japan taps methane hydrates with explosive implications for the future of global energy supplies.The Japanese Ministry of Economy Trade and Industry announced in March that a team aboard a drilling ship pearched above the Eastern Nankai Trough had extracted methane gas from hydrates trapped 1,000 feet below the sea floor surface. Methane hydrates, also known as clathrates or...
  • Shocking Prediction: The 'Second Phase' Of The Oil Boom Could Eclipse The First

    01/01/2014 7:37:40 AM PST · by ckilmer · 75 replies
    investinganswers ^ | December 31, 2013 | Jody Chudley
    Shocking Prediction: The 'Second Phase' Of The Oil Boom Could Eclipse The First By Jody Chudley December 31, 2013 Shocking Prediction: The 'Second Phase' Of The Oil Boom Could Eclipse The First Five years ago the idea of an oil boom happening in the North America was not much more than a dream. Today, the U.S. is on pace to overtake Saudi Arabia as the world's top oil producer by the end of the decade. It isn't as though the oil industry didn't always know that formations such as the Bakken in North Dakota and Eagle Ford in Texas contained...
  • Israel's New Conflict: Battle Over Sustained Energy Policy

    12/29/2013 8:18:12 PM PST · by ckilmer · 1 replies
    ibtimes ^ | October 22 2013 10:32 AM | David Kashi
    Israel's New Conflict: Battle Over Sustained Energy Policy By David Kashi on October 22 2013 10:32 AM The Levant Basin has an untapped natural gas reserve of 122 trillion cubic feet. The U.S. Energy Information Agency With new discoveries of natural gas off Israel's shores, the Middle Eastern country that had always been an energy importer now faces major policy decisions for safeguarding and capitalizing on its new resource. Thanks to Houston-based Noble Energy Inc.'s (NYSE:NBL) major deep-water discovery, the country is now able to tap into huge natural gas reserves in the Eastern Mediterranean Sea, called the Levant...
  • How The 1973 Crisis Changed US Energy Policy And Habits

    12/29/2013 8:10:03 PM PST · by ckilmer · 7 replies
    ibtimes ^ | October 18 2013 6:26 PM | David Kashi
    Four Decades After The Arab Oil Embargo, The US Outperforms Saudi Arabia; How The 1973 Crisis Changed US Energy Policy And Habits By David Kashi on October 18 2013 6:26 PM   Cars lined up at a New York City gas station during the Arab oil embargo in 1973. Marty Lederhandler/Associated Press In the fall of 1973, Buick offered “the man with a family” his choice of a new Century Regal coupe or four-door sedan, either of which, it would later be noted, guzzled gas like there was no tomorrow. The ad, which ran in the Oct. 22, 1973,...
  • U.S. energy boom firing on all cylinders for 2014

    12/29/2013 7:49:50 PM PST · by ckilmer · 12 replies
    globeadvisor ^ | Tuesday, December 24, 2013 | DAVID BERMAN
    News from U.S. energy boom firing on all cylinders for 2014 Tuesday, December 24, 2013 DAVID BERMAN dberman@globeandmail.comDavid Berman writes for Inside the Market (, which offers up-to-the-minute analysis of stock trends and market-moving news throughout the trading day.It is amazing how fast U.S. energy production has gained traction in our imaginations. One minute, the country is talking up a need to move toward energy independence; the next, it is on the verge of becoming the world's largest oil producer, according to the International Energy Agency.James Hamilton at Econbrowser highlights the transition this way: Just eight months ago, the...
  • The US Energy Boom: More than Just an Oil Story

    12/29/2013 7:43:40 PM PST · by ckilmer · 14 replies
    goldstockstoday ^ | December 23, 2013 | Frank Holmes
    The US Energy Boom: More than Just an Oil Story December 23, 2013 by Frank Holmes Leave a Comment As we come to the end of 2013, it’s a good time to reflect on some of the biggest resources stories of the year. One that immediately comes to mind is the U.S. energy resurgence and its tremendous effect on oil and gas.Only a few years ago, we were contemplating the supply constraints facing the petroleum industry, as many major oil fields around the world were declining in production. Now, with the disruptive technology in shale oil and gas, we may...
  • Innovation Behind Drilling Efficiency & Well Productivity Fueling America’s Energy Boom

    12/29/2013 7:33:46 PM PST · by ckilmer · 1 replies
    hardassetsinvestor ^ | December 27, 2013 | Tom Vulcan
    Written by Tom Vulcan  |December 27, 2013 Innovation Behind Drilling Efficiency & Well Productivity Fueling America’s Energy Boom Fewer rigs but more wells per rig proving powerful combination, among other new tricks of the trade. In the world of fracking, the last few months have been significant on a number of counts. Two, in particular, were indicative of just how important fracking really has become in the U.S.First, at the end of October, the U.S. government’s Energy Information Administration commenced publication of its new “Drilling Productivity Report” (DPR). Initially covering six production basins (which, in 2011-2012, accounted for nearly all...
  • Factor the shale-energy surge into economic recovery models

    12/28/2013 8:42:13 PM PST · by ckilmer · 6 replies
    dailystar ^ | December 28, 2013 12:16 AM | Robert Skidelsky
    The developed world is slowly emerging from the Great Recession, but a question lingers: How fast and how far will the recovery go? One big source of pessimism has been the idea that we are running out of investment opportunities – and have been since before the 2008 crash. But is that true? The last big surge of innovation was the Internet revolution, whose products came onstream in the 1990s. Following the dot-com collapse of the early 2000s, speculation in real estate and financial assets – enabled by cheap money – kept Western economies going. The post-2008 slump merely exposed...
  • Continental basks in shale glory

    12/28/2013 6:49:28 PM PST · by ckilmer · 18 replies
    gulfnews ^ | 12:54 December 28, 2013 | Ed Crooks
    Continental basks in shale glory The company leads production of the Bakken shale of North Dakota and Montana The US shale revolution is “the best thing going on in the world since the computer chip”, says Harold Hamm, chairman and chief executive of Continental Resources. “Look at what’s going on today, how the world’s changing. It’s the best thing for America, in my opinion, in 40 years. It’s completely transformative.” No one embodies that transformation better than Hamm. Continental, which has its origins in a company he founded back in 1967, is now the leading producer in the Bakken shale...
  • Shale Gas to the Rescue?

    12/24/2013 1:54:41 PM PST · by ckilmer · 14 replies
    project syndicate ^ | DEC 18, 2013 | Robert Skidelsky
    The last big surge of innovation was the Internet revolution, whose products came onstream in the 1990’s. Following the dot-com collapse of the early 2000’s, speculation in real estate and financial assets – enabled by cheap money – kept Western economies going. The post-2008 slump merely exposed the unsoundness of the preceding boom; the mediocrity of the recovery reflects the mediocrity of previous prospects, coolly considered. The risk now is that a debt-fueled asset spike merely perpetuates the boom-bust cycle. The economist Larry Summers has reintroduced the term “secular stagnation” to describe what awaits us. By the mid-2000’s, Summers argued...
  • West Texas Oil Flood

    12/20/2013 10:36:26 PM PST · by ckilmer · 11 replies
    energyandcapital ^ | Friday, December 20th, 2013 | Keith Kohl
    West Texas Oil Flood Texas Crude Profits   l By Keith KohlFriday, December 20th, 2013At around 6 o'clock on the morning of May 28, 1923, an oil well named after the patron saint of the impossible blew. The well sprayed oil over the top of the derrick and covered a 250-yard area around the site.This is the infamous picture of it:On that morning, the oil boom in West Texas was born. The name of the well was Santa Rita No. 1.For the next 50 years, oil from West Texas flooded the world. Wildcatters, ranchers, and residents of sleepy cowtowns became...
  • Shale Revolution: Trade Deficit Slides

    12/18/2013 8:53:09 PM PST · by ckilmer · 4 replies
    zacks ^ | December 18, 2013 | Zacks Equity Research
    Shale Revolution: Trade Deficit Slides by Zacks Equity Research   Published on December 18, 2013 |In October, the trade deficit declined to $40.3 billion from the upwardly revised figure of $43 billion for the month of September. Particularly notable was the fact that exports of goods and services increased by 1.8% to a record monthly high of $192.7 billion. This was an 18% increase from September figures. On the other hand, imports increased only by 4.5%, to $233.3 billion. Increase in Global Demand The decline in the level of deficit indicates that the global economy has turned the corner. Shipments to...
  • Here’s how the shale gas boom is saving Americans money

    12/18/2013 8:15:42 PM PST · by ckilmer · 7 replies
    wonk blog ^ | December 18, 2013 at 9:30 am | Brad Plumer
    That cheap gas is also saving Americans money on their energy bills. But how much? Ask the experts, and you get a fairly wide range of answers.
  • U.S. crude oil production rising faster than expected, to test record highs by 2016

    12/16/2013 3:47:31 PM PST · by ckilmer · 27 replies
    globeandmail ^ | Dec. 16 2013, 4:07 PM EST | SABINA ZAWADZKI
    U.S. crude oil production will rise faster than expected to a near historic high by 2016, according to the Energy Information Administration (EIA), which sharply raised its annual output forecasts on Monday due to the breakneck speed of shale oil development.
  • The Shale Energy Revolution in North America is Changing the World

    12/16/2013 3:20:13 PM PST · by ckilmer · 14 replies ^ | December 15th, 2013 |
    The Shale Energy Revolution in North America is Changing the World December 15th, 2013 By news keeps rolling in for America’s booming shale plays.This week, the US Energy Information Administration (EIA) released a report describing how the Marcellus Shale region is on track to supply 18% of total US natural gas production in December.Let’s take a look at two important charts – plus a few quick takeaways about how North America is changing the world…Production in the Marcellus shale is booming. Here’s the first chart.Click to enlarge  Basically, more and more ‘takeaway capacity’ has come online in the...
  • US oil output at highest level since 1989 (above 8 million barrels@day)

    12/08/2013 9:32:19 PM PST · by ckilmer · 26 replies ^ | December 2, 2013 @ 12:05am | Asjylyn Loder
    U.S. crude production rose above 8 million barrels a day in November for the first time in almost 25 years, cutting dependence on foreign oil and pushing the country toward energy independence. Output climbed 0.6 percent, or 45,000 barrels a day, to 8.019 million barrels a day, the Energy Information Administration (EIA) said Nov. 27. That’s the most since January 1989. “It’s a tremendous shift,” said Stephen Schork, president of the Schork Group, an energy consulting firm in Villanova, Pa. “Production will continue to grow in North America, and North America will continue to become less and less dependent on...
  • U.S. shale oil trade goes waterborne in 2014, says Freepoint ("logistical bottlenecks")

    11/26/2013 9:11:52 PM PST · by 2ndDivisionVet · 13 replies
    Reuters ^ | November 7, 2013 | Jeanine Prezioso, Editor, North American Power & Gas Forum
    In 2012, it was the oil tanker-truck trade. This year, the oil-by-rail boom inundated the U.S. East and Gulf coasts. In 2014, the shale revolution hits the water, says U.S. commodity merchant Freepoint Commodities. A dramatic slump in U.S. cash crude prices in recent weeks has vividly shown that the unrelenting rise in shale oil production from North Dakota and Texas is rapidly nearing the point of saturation for Gulf Coast refiners, likely forcing more and more cargoes up the East Coast on tankers. The swell of crude emerging from the Bakken in North Dakota, plus the Eagle Ford and...

    11/21/2013 11:03:33 PM PST · by ckilmer · 3 replies ^ | SEPTEMBER 2013
     SEPTEMBER 2013 Vol. 234 No.9 ShaleTech NIOBRARA INDEPENDENTS UNRAVEL PLAY, HIKE LIQUIDS PRODUCTION JIM REDDEN, Contributing Editor A rig drills for oil in Colorado’s liquids-rich basins against the backdrop of the Rocky Mountain range. Source: Colorado Geological Survey. While the byzantine Niobrara shale that underlies a substantial portion of the U.S. Rockies, and beyond, is not for the technologically skittish, recent production data suggest that the resolute independents, who dominate the liquids-rich play, are steadily getting a handle on its unrivaled geological complexities.Even though the multi-horizon Niobrara may have a long way to go, to reach its earlier billing as...
  • America's Unevenly Distributed Resurgence In Manufacturing Starts In The Shale Fields

    11/19/2013 10:13:39 PM PST · by 2ndDivisionVet · 8 replies
    Forbes ^ | November 4, 2013 | Mark P. Mills
    Our economy is straining at the bit to grow out of the Great Recession. You wouldn’t know that from the dreary news on both the jobs and GDP growth front. The good news is found in the incredible potential for high-paying jobs, growth and wealth creation bubbling up in America’s manufacturing sector. Manufacturing is hot, even though we’re supposed to be in a post-industrial economy. The transformation in American manufacturing today is redolent of a century ago when innovation and growth in the industrial landscape was blossoming in both big companies and start-ups. On today’s start-up front we have emerging...
  • Eagle Ford oil transforming Corpus Christi port (photos at link)

    11/19/2013 5:26:07 AM PST · by thackney · 17 replies
    Fuel Fix ^ | November 18, 2013 | Jennifer Hiller
    ORPUS CHRISTI, Texas — It’s a Monday afternoon at the edge of Texas, but this might as well be the center of the oil field. Although the Port of Corpus Christi moves everything from enormous wind turbine blades to military equipment, the Eagle Ford to its north and the field’s various and sundry products — from steel pipe to sand — seem to touch everything here these days. The drilling boom has launched billions of dollars in port construction projects, as well as a round-the-clock frenzy to move products in and out of the oil patch, and to coastal terminals...
  • Can Fracking Keep U.S. No.1 Oil Producer?

    11/17/2013 5:44:15 PM PST · by ckilmer · 55 replies
    247wallst ^ | November 13, 2013 1:26 pm EST | By Paul Ausick
    Two recent well-respected and long-running oil industry publications have proclaimed that booming production in North America, particularly in the U.S. shale fields, will hit a plateau as early as 2016 and that production declines will follow soon thereafter. Last week the Organization of Petroleum Exporting Countries (OPEC) set the decline date sometime before 2020 and this week the International Energy Agency (IEA) set the 2016 plateau date. The boom in U.S. production is set to displace Russia as the top oil-producing country by next year. Had you said this to anyone five years ago, you might have been laughed out...
  • Plant to open in Brookfield (Ohio, Marcellus and Utica shale related)

    11/09/2013 9:06:31 PM PST · by 2ndDivisionVet · 4 replies
    The Tribune Chronicle ^ | November 9, 2013 | Brenda J. Linert
    BROOKFIELD - A Texas-based manufacturing company tied to the oil and gas industry plans to hire about 150 workers and open a new plant in Brookfield by early next year. Legacy Measurement Solutions Inc. of Addison, Texas, formerly known as J-W Measurement Co., on Friday announced plans to be operational by early next year in a 73,000-square-foot facility owned by Nick Strimbu trucking company near the intersection of state Routes 82 and 7. The company has laid out a three-year operations plan, leasing the space initially with options to buy. Gary Crisp, the company's vice president of operations for northeast,...
  • Could This Oil Field Be the Next Bakken?

    10/27/2013 7:03:12 PM PDT · by ckilmer · 28 replies ^ | October 17, 2013 at 1:35 pm |
    Could This Oil Field Be the Next Bakken? Business is rockin' in the Bakken. Within the next year output is expected to surpass one million barrels per day, up from almost nothing ten years ago. Such growth has been a boon for investors as evident in the share price performance of companies like Continental Resources, Inc. (NYSE:CLR), Kodiak Oil & Gas Corp (USA) (NYSE:KOG), and Oasis Petroleum Inc. (NYSE:OAS). But the hunt is now on for the next great American shale play. And one formation in particular just might have the potential to rival the Bakken: the Colorado Niobrara.A spotty track record Readers...
  • 1 Real Threat That Could Kill America's Oil Boom

    10/27/2013 3:13:00 PM PDT · by ckilmer · 27 replies ^ | October 27, 2013 | Tyler Crowe
    1 Real Threat That Could Kill America's Oil Boom By Tyler Crowe | More Articles October 27, 2013 | Comments (3) The one thing you see in the energy section of any news publication is the price of oil. Most of the time, it will give some doom-and-gloom reason that has little to do with the price of oil, or it will be some analysts making claims that oil will be double what it is today, or that it will drop 20%-30%. The most fascinating part of these prognostications is that they rarely give any real reason. A great example...