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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 Air.com ^ | 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: http://news.investors.com/business/022715-741288-us-oil-spending-down-but-production-slow-to-fall.htm#ixzz3TGVUN2zT 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
    fool.com ^ | 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
    bizjournals.com ^ | 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
    processingmagazine.com ^ | 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
    fool.com ^ | 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
    http://oilandgas-investments.com ^ | 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
    chron.com ^ | 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
    fool.com ^ | 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
    Townhall.com ^ | 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,...