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Keyword: shaleoil

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  • 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 · 35 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 Kennard · 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...
  • The Niobrara Shale Play – the Next Bakken?

    10/26/2013 9:32:28 PM PDT · by ckilmer · 14 replies ^ | February 1, 2013
    The Niobrara Shale Play – the Next Bakken? [ 0 ] February 1, 2013 The Niobrara shale formation extends across northeastern Colorado, northwestern Kansas, southwestern Nebraska and southeastern Wyoming.  The play ranges in thickness from 275-400 feet deep, with three primary carbonate-rich benches that average 10-25 feet thick with 5-10% porosity. Within the Niobrara, oil and natural gas are found at 3,000-14,000 feet beneath the earth’s surface.  O&G producers tap these resources through both vertical and horizontal wells typically drilled at 7,000-8,000 feet with variable geopressures. To date, most of the Niobrara’s O&G development focuses on the Denver-Julesburg Basin (“DJ...
  • Energy Pipeline: Banking on a future in the Wattenberg and beyond

    10/26/2013 9:08:42 PM PDT · by ckilmer · 2 replies ^ | September 1, 2013 | Sharon Dunn
    SmallerLarger Share on email Share on print More Sharing Services Expand Photo A cloud formation fills the sky as an oil pump is silhouetted in front of it near the town of Hereford on the northeastern plains of Weld County. Drilling operations throughout northern Colorado are suspected to only have tapped into a fraction of the oil and natural gas in the region. Tribune file photo | A cloud formation fills the sky as an oil pump is silhouetted in front of it near the town of Hereford on the northeastern plains of Weld County. Drilling operations throughout northern Colorado...
  • US shale revolution still 'in early innings' as boom continues: Credit Suisse

    10/26/2013 8:48:16 PM PDT · by ckilmer · 7 replies ^ | 1Oct2013/302
    After a decade or more of shale development in the US, the country remains "in the early innings" of that growth with tens of billions more dollars expected for infrastructure and development, according to an analysis by investment bank Credit Suisse unveiled Tuesday. Overall, strong drilling activity and continued technological progress should lead to "significant oil production growth still to come in the key regions such as the Permian [Basin] ... as well as the Eagle Ford, Bakken and Niobrara (Wattenberg)" shales, the report, "The Shale Revolution II," said, referring to the West Texas, South Texas, North Dakota/Montana and Colorado...
  • How the U.S. Shale Boom Is Splitting OPEC Apart

    For decades, OPEC nations have, for the most part, enjoyed a good living. As long as oil prices remain high, they can recover billions of barrels of oil at relatively low cost and sell it to the rest of the oil-thirsty world. But the North American shale oil boom is shaking things up for the cartel. In fact, the surge in U.S. and Canadian oil production resulting from the application of new drilling technologies threatens to reduce OPEC's share of the global oil market this year to its lowest level in more than a decade. Does that imply gloom and...
  • West Texas better prepared for an energy boom, railroad commissioner says

    10/08/2013 10:01:15 PM PDT · by ckilmer · 8 replies ^ | Sun Oct 6, 2013.
    SWEETWATER — U.S. oil production for the week ending Aug. 30 averaged 7.62 million barrels per day, which is the highest weekly output of crude oil in the nation since Oct. 1989. That increase is almost exclusively because of increases in domestic shale oil production in states such as Texas. The vast majority in a packed room at the Nolan County Coliseum nodded their heads in a gesture of pride to that news, delivered directly by Texas Railroad Commissioner Christi Craddick. She spoke about the robust energy industry in the state during the Shale Show in Sweetwater this past week....
  • Sweetwater to Host 'Shale Show' (George P. Bush will be presenting)

    09/30/2013 8:13:17 PM PDT · by 2ndDivisionVet · 2 replies
    Big Country ^ | September 30, 2013
    Shale Show 2013 will take place Tuesday-Wednesday, Oct. 1-2 at the Nolan County Coliseum in Sweetwater’s Newman Park. Shale Show is an energy technology showcase, business networking, and information sharing event that will be held in every odd-numbered year in Sweetwater, in the heart of the Cline Shale and America's Energy Solutions Region. Shale Show is open free to the oil and gas industry, regional leaders and businesses, and to the general public. A very limited number of indoor and outdoor display spaces are still available for a fee. Shale Show is a nationwide event. With more than 150 exhibitors...
  • A US Energy Revolution in Shale Oil and Gas

    09/23/2013 8:43:38 PM PDT · by ckilmer · 8 replies
    countingpips ^ | September 16th, 2013
    In Texas these days, there’s a feeling of absolute and unwavering confidence in the concept of an US energy revolution. From the depths of reserves to the richness of the energy, an incredible transformation is taking place. We’ve been talking about the significant impact of the US’s oil production for a while now, but the buzz about shale oil and gas is only getting louder. At Morgan Stanley’s energy forum in Houston in August, Director of Research John Derrick and Portfolio Manager Evan Smith said shale was the prevailing topic. One area that’s driving this game-changing trend is located only...
  • Permian Basin oil production outstrips the Eagle Ford

    09/23/2013 8:33:03 PM PDT · by ckilmer · 6 replies
    bizjournals ^ | Sep 19, 2013, 6:00am CDT
    Permian Basin oil production outstrips the Eagle Ford The Permian Basin is out-producing the Eagle Ford Shale in terms of crude oil production. The Permian Basin is out-producing the Eagle Ford Shale in terms of crude oil production. The Eagle Ford may be at the top of San Antonians’ minds when it comes to oil and gas activity, but crude production in West Texas is now outpacing the shale to our south. From January to June, West Texas’ Permian Basin pumped out 889,808 barrels per day (bpd) of oil, passing up the Eagle Ford’s 598,706 bpd output, according to Texas...
  • Eagle Ford, Permian Basin on Track to Surpass 2 MMbopd in 2013

    09/23/2013 8:27:48 PM PDT · by ckilmer · 31 replies
    Rigzone ^ | Thursday, September 19, 2013 | Gene Lockard
    Eagle Ford, Permian Basin on Target to Surpass 2 MMbopd in 2013 Texas oil production from just two fields, the Eagle Ford shale and the Permian Basin, is likely to total well over 2 million barrels of oil per day (MMbopd) this year, if recent output trends continue, and could approach 2.5 MMbopd sometime in 2014, according to analysts. The Eagle Ford has been front and center in energy news, and has stolen some of the limelight from the Permian Basin. However, horizontal drilling and hydraulic fracturing have rejuvenated production in the Permian Basin in recent years, and many of...
  • Eagle Ford oil expected to surpass 1 million barrels per day next year

    09/23/2013 8:07:10 PM PDT · by ckilmer · 2 replies
    fuelfix ^ | September 19, 2013 at 9:55 am | Jennifer Hiller
    SAN ANTONIO, Texas — Eagle Ford Shale oil production is expected to reach 1 million barrels per day next summer — and keep growing as operators add tens of thousands of more wells to the giant South Texas field. “This is a huge oil producer,” said Subash Chandra, a managing director and at the investment banking firm Jefferies & Co. He spoke Wednesday to more than 4,000 people attending Hart Energy’s third annual DUG Eagle Ford Conference at the Convention Center. More than 11,100 wells have been permitted in the Eagle Ford since 2008, but the research firm DrillingInfo estimates...
  • Drilling beyond the Eagle Ford Shale

    09/23/2013 7:58:17 PM PDT · by ckilmer · 10 replies
    fuelfix ^ | September 22, 2013 at 6:45 am | Jennifer Hiller
    Drilling beyond the Eagle Ford Shale Southwest Research Institute is running training field trips where geologists from oil and gas companies look at places where the Eagle Ford is exposed at the surface. This photo shows a road cut exposure along U.S. Highway 90 west of Del Rio, where the formation is known as the Boquillas. The contrast of colors in the rock is a result of variable weathering patterns.(Southwest Research Institute) The Eagle Ford Shale is more than just the Eagle Ford. Operators in South Texas are drilling into other rock formations, taking horizontal turns — and in some...
  • Should Israel get oil out of Vinegar, for an energy revolution?

    09/08/2013 9:14:38 AM PDT · by Former Fetus · 14 replies
    The Times of Israel ^ | 9/8/2013 | DAVID HOROVITZ
    Far below the surface of the promised land, a hidden treasure lies. If it can be carefully liberated from the geological layer in which it is caught, it promises nothing less than to transform Israel’s economy. It is called oil shale. And, along with Jordan, Israel just so happens to sit upon the world’s second largest deposits of the stuff. Oil shale deposits are overwhelmingly located outside conventional oil-rich areas such as the Middle East and North Africa. So if safe, economic processes for extracting this alternative oil resource can be put into effect, dependence on the energy-exporting Middle East...
  • American Technologists and Entrepreneurs Re-Set Russian Relations (Shale boom threatens Putin)

    09/04/2013 8:50:20 AM PDT · by 2ndDivisionVet · 5 replies
    RealClearPolitics ^ | September 4, 2013 | Sir Tony Brenton and Mark Mills
    Unsurprisingly, oil prices are up in reaction to the Syrian mess. It’s worth keeping in mind that President Putin is at the top of the list of world leaders who benefit from this. The linkage between oil prices and Russia’s revenues cannot be ignored in calibrating what has, and may happen yet in the Middle East. Hydrocarbons account for two-thirds of Russian export revenues and nearly half of its state budget. And until very recently just two regions, Russia and the Middle East, dominated world trade in oil and gas. Russia has regularly boasted of being an “energy superpower”. Indeed...
  • Lucy Mangan: fracking idiots (Leftism is a sign of mental illness)

    08/19/2013 5:59:29 PM PDT · by 2ndDivisionVet · 17 replies
    The Guardian ^ | August 16, 2013 | Lucy Mangan
    We are all, I know, just marking time until the Oprah Winfrey interview with Lindsay Lohan takes place. So let us while away the tedious, meaningless hours by talking about fracking. This, as I'm sure you are aware unless you have elected to move to the bunker early (possibly when the Winfrey-Lohan news broke), is the process of drilling holes in the ground and forcing water down them at such high pressure that it fractures the shale rock beneath, releasing gas. They do it a lot in America and David Cameron wants to do it here – starting with West...
  • Saudis Fresh Prince Freaks Out About U.S. Fracking

    07/30/2013 4:31:51 PM PDT · by raptor22 · 42 replies
    Investor's Business Daily ^ | July 30, 2013 | IBD EDITORIALS
    Energy: A Saudi prince has warned that his oil-reliant nation is under threat because of fracking technology being developed in the U.S. and spreading around the world. OPEC is now caught between Riyadh and a hard place. Indicative of the panic rippling through the Organization of Petroleum Exporting Countries over the U.S.-led fracking boom, billionaire Saudi Prince Alwaleed bin Talal says his Gulf Arab kingdom needs to reduce its reliance on crude oil and diversify its revenues, lest the era of gold-plated toilets come to an end. In an open letter to his country's oil minister Ali al-Naimi and other...
  • Saudi Prince: Fracking Is Threat To Kingdom

    07/29/2013 9:44:34 PM PDT · by 2ndDivisionVet · 29 replies
    Sky News ^ | July 29, 2013
    A Saudi prince has warned that his oil-reliant nation is under threat because of fracking technology being developed elsewhere around the world.Billionaire Prince Alwaleed bin Talal said the Gulf Arab kingdom needed to reduce its reliance on crude oil and diversify its revenues. His warning comes as rising shale energy supplies in the United States cut global demand for Saudi oil. In an open letter to his country's oil minister Ali al Naimi and other government heads, published on Sunday via his Twitter account, Prince Alwaleed said demand for oil from Organisation of the Petroleum Exporting Countries (Opec) member states...