Archives par mot-clé : Shale Gas/Oil

Largest Bakken Producer Shuts In Almost All Production

by D. Middleton, April 26, 2020 in WUWT


Continental Resources has also declared force majeure on current contracts to deliver crude oil at current prices. Legal experts are dubious regarding their force majeure claim. Continental, one of the most financially successful “shale” players, does not hedge production and was, therefore, highly exposed to the sudden price drop.

Also here  Another Failed Energy Prediction: Peak Oil Demand

China Extracts Record Amount Of Natural Gas From ‘Fire Ice’ In South China Sea

by GWPF, March 31, 2020


We might be sitting on enough gas to power the world for hundreds, if not thousands, of years.

 

China conducted its first operation to extract natural gas from gas hydrates in the South China Sea in 2017. Photo: Reuters
In a world awash in oil and gas, you’d think it couldn’t get any worse. Well, it can: China just announced that it had extracted a record amount of what has been poetically called fire ice. It is, however, a form of natural gas trapped in frozen water. 

Continuer la lecture de China Extracts Record Amount Of Natural Gas From ‘Fire Ice’ In South China Sea

‘This Is Masochism’: Russia Wages An Oil War Against Saudi Arabia, US Amid Coronavirus Concerns

by C. Rotter, March 9, 2020 in WUWT


Oil prices dropped Monday as Saudi Arabia and Russia haggle over whether to reduce crude production amid fears that coronavirus will hamper air travel and potentially wreck the global economy.

Prices fell into the $30s as the Saudis push for a cut in output to prop up prices, while Russia went the other way, and decided to infuse the market with hundreds of thousands of barrels of oil, according to The Washington Post. Moscow is worried that the U.S. will use shale oil to take advantage if Saudi Arabia ease off production.

Basement-low oil prices could substantially impact oil companies and the global markets, which are already being hurt by fears related to coronavirus. Brent crude dropped to $35 per barrel; and the price of West Texas Intermediate crude fell to $32 from $41 per barrel, a four-year low.

“From the point of view of Russian interests, this deal [to cut production] is simply meaningless,” Mikhail Leontiev, a spokesman for the Russian oil giant Rosneft, told a Russian media outlet Sunday night.

He said the U.S. would be sure to step up shale production if production is cut.(RELATED: REPORT: Chinese Censors Jumped In To Suppress Online Messages Warning About Coronavirus Spread)

Guerre du prix du pétrole : revanche de la technologie sur l’OPEP

by Samuel Furfari, 9 mars 2020 in Contrepoints


Le monde regorge de pétrole grâce au développement de la technologie. C’est elle qui est le vecteur de la marche du monde de l’énergie.

Je vous avoue que je ne suis pas le cours du pétrole tous les jours. Cela n’a d’importance que pour les traders et les spéculateurs qui engrangent des bénéfices plantureux en jouant sur quelques centimes de volumes gigantesques.

Si vous voulez comprendre la géopolitique du pétrole et donc de l’énergie , il faut observer les tendances lourdes, comme celle du week-end dernier.

Lorsque j’ai publié en mars 2014 un livre intitulé Vive les énergies fossiles qui indique qu’il n’y a aucune raison objective ou technologique pour que le prix du brut dépasse les 100 dollars le baril, on m’a pris pour un farfelu. Même si j’étais probablement le seul à oser le dire ouvertement en milieu francophone, nombreux étaient ceux qui l’affirmaient de vive voix et par écrit dans le monde. Les faits nous ont donné raison.

LA DEMANDE DE PÉTROLE EN CHUTE LIBRE

Face à la chute brusque de l’activité économique occasionnée par l’épidémie de coronavirus, la demande de pétrole est en chute libre. La consommation chinoise de pétrole a chuté de plus de 3 millions de barils par jour.

De toute évidence, cette crise sera bien plus profonde pour l’économie mondiale que celle déclenchée par les subprimes en 2008. On s’attend à un net recul de la demande en énergie primaire et singulièrement du pétrole.

Cela va de soi : les avions qui ne volent pas, les voitures qui restent au garage, les restaurants désertés, les stades fermés, les vacances annulées font dégringoler la consommation de produits pétroliers et partant, de toute l’économie. De quoi réjouir les écologistes profonds !

Vendredi dernier à Vienne, à la réunion de l’OPEP, comme d’habitude la Russie – non membre – a été conviée à participer aux travaux. L’OPEP, qui manipule le prix du brut depuis 1973 voulait réduire sa production pour maintenir le prix au niveau précédant l’arrivée sur scène du virus dévastateur. Par la même occasion Ryad aurait mis l’Iran encore plus à genoux pour le peu de pétrole que celui-ci parvient à écouler au marché noir (l’Iran ne sait plus où stocker le pétrole pompé qu’il ne peut pas vendre).

LES ORIGINES DE LA CHUTE DU PRIX DU PÉTROLE BRUT

Il est vrai que depuis trois ans, l’OPEP et la Russie se sont accordés pour ajuster leurs extractions à la demande mondiale. Il y a bien eu une tentative de faire chuter le prix de manière à restreindre le développement du pétrole de roche-mère des USA, mais en vain.

Cette fois, Moscou n’a pas voulu suivre le leader de l’OPEP – Ryad – et a refusé d’adhérer à la réduction de la production pour soutenir le prix. L’Arabie Saoudite, piquée au vif, a réagi de manière inverse et a déclaré son intention de porter sa production de brut à plus de 10 millions de barils par jour en avril, après l’expiration de l’accord actuel entre l’OPEP et la Russie fin mars – connu sous le nom d’OPEP+.

De plus, elle a réduit le prix de tous ses bruts vers toutes les destinations de 6 à 8 dollars le baril. La conséquence ne s’est pas fait attendre : le prix du brut a chuté à environ 32 dollars le baril.

Les contrats à terme sur le pétrole ont subi leur plus grosse perte quotidienne depuis 1991 lors de la guerre du Golfe. Lors de la crise asiatique de 1998, le Financial Times du 10 septembre 1998 titrait que la seule chose qui était plus basse que le cours du pétrole était le moral de l’économie. On pourrait dire la même chose aujourd’hui.

LE MONDE REGORGE DE PÉTROLE GRÂCE À LA TECHNOLOGIE

 

Continuer la lecture de Guerre du prix du pétrole : revanche de la technologie sur l’OPEP

The Fracking Decade

by Noah Rothman, January 2020, in Commentary


The malady afflicting the country was unmistakable, according to George W. Bush. “America is addicted to oil,” the president observed in his 2006 State of the Union address. This wasn’t just an observation. It was a call to arms. If the U.S. failed to wean itself off foreign oil, the consequences for the domestic economy and U.S. foreign policy would be grave. Doing so would require substantial investments in America’s ethanol industry as well as the development of oil deposits in pristine natural parks and off the nation’s shores.

In 2008, the U.S. produced an average of just 5 million barrels of oil per day—the nadir of domestic energy production since the exploitation of fossil fuels began in the late 19th century. By 2009, the price of West Texas Intermediate crude was approaching $150 per barrel. The U.S., therefore, was obliged to spend over $1 billion per day on oil imports from foreign countries, few of which could be considered models of good governance. America’s thirst for oil propped up abusive governments in places such as the Democratic Republic of Congo, Venezuela, Pakistan, Saudi Arabia, Algeria, Mauritania, and Syria.

 

Energy Returned on Capital Invested: Ohio “Shale” vs Green “Schist”

by D. Middleton, December 2, 2019 in WUWT


Ohio’s shale energy industry attracts nearly $78 billion in investment since 2011
11/20/2019

COLUMBUS, OHIO – Total investment in Ohio’s resource rich shale energy sector has reached $78 billion since tracking began in 2011, according to a Cleveland State University (CSU) study.

Prepared for JobsOhio, the report represents the most recent data available and covers shale investment through the second half of 2018. Earlier in the year, IHS Markit released estimates that by 2040, the Utica and Marcellus shale region, of which Ohio is a significant part, will supply nearly half of all U.S. natural gas production.

The study from CSU’s Energy Policy Center at the Maxine Goodman Levin College of Urban Affairs, showed drilling investments were slightly down in the second half of 2018 compared to the first half, but total upstream investments were up. Total shale-related investment in Ohio for the second half of 2018, including upstream, midstream and downstream, was around $3.82 billion. Total investment from 2011-2018 totaled about $77.7 billion.

[…]

World Oil

New Report Says Fracking Saved Americans $1.1 Trillion Over Past Decade

by A. Watts, November 21, 2019 in WUWT


Research & Commentary by Tim Benson

A new report prepared by Kleinhenz & Associates for the Ohio Oil and Gas Energy Education Program shows increased oil and natural gas production from hydraulic fracturing  (“fracking”) has saved American consumers $1.1 trillion in the decade from 2008 to 2018. This breaks down to more than $900 in annual savings to each American family, or $9,000 in cumulative savings. Continuer la lecture de New Report Says Fracking Saved Americans $1.1 Trillion Over Past Decade

USGS: Marcellus/Utica Natural Gas Resource Has Nearly Doubled Since 2012

by David Middleton, October 8, 2019 in WUWT


I had the good fortune of working with Jim Reilly at Enserch Exploration back in the 1980’s and early 1990’s… Before he became a NASA astronaut and then Director of the USGS.

“Shale” comprises more than 60% of current U.S. proved natural gas reserves… The Marcellus/Utica comprise about 50% of “shale” proved reserves… And the undiscovered technically recoverable resource potential of the Marcellus/Utica is now larger than the proved reserves and nearly as large (70%) as the current proved reserves of all “shale” plays….

Figure 2. “The effects American ingenuity and new technology can have.”…

Net Zero Natural Gas Plant — The Game Changer

by James Conca, July 31, 2019 in Forbes


An actual game changing technology is being demonstrated as we sit in our air-conditioned abodes reading this. And it is being demonstrated by North Carolina–based Net Power at a new plant in La Porte, Texas.

The process involves burning fossil fuel with oxygen instead of air to generate electricity without emitting any carbon dioxide (CO2). Not using air also avoids generating NOx, the main atmospheric and health contaminant emitted from gas plants.

Claim: Russia will be Ruined by the Clean Energy Transition

by Eric Worall, June 29, 2019 in WUWT


According to Forbes, when renewable energy programmes like Germany’s Energiewende mature, demand for Russian fossil fuel will collapse.

World Energy Consumption. By Con-structBP Statistical Review of World Energy 2017, CC BY-SA 3.0, Link

Will Russia Survive The Coming Energy Transition?

Jun 27, 2019, 10:35am
Ariel Cohen Contributor

A new global energy reality is emerging. The era of the hydrocarbon – which propelled mankind through the second stage of the industrial revolution, beyond coal and into outer space – is drawing to a close. The stone age ended not because we ran out of stones. The same with oil and gas.

We have now entered the era of the renewable energy resource, whereby zero-emission electricity is generated via near unlimited inputs (solar radiation, wind, tides, hydrogen, and eventually, deuterium). Cutting-edge, smart electric grids, utility-scale storage, and electric self-driving vehicles – powered by everything from lithium-ion batteries to hydrogen fuel cells – are critical elements of this historic energy transition.
Each of these technological trends will displace demand for Russia’s primary source of budget revenues: fossil fuels.

ENERGY SUPERPOWER USA: SHALE OIL & GAS HIT RECORD PRODUCTION LEVELS IN 2018

by GWPF, June 12, 2019 in TheWallStreetJournal


World-wide energy demand grew at its fastest rate since 2010

The shale revolution powered U.S. oil and gas production in 2018 to the largest annual increases ever recorded by any country, according to energy giant BP PLC .

Surging global energy demand is fueling the production boom, even as oil and gas prices rise and economic growth slows, said BP’s annual statistical review published Tuesday.

World-wide demand for energy grew 2.9% in 2018, its fastest rate since 2010.

Unusual weather spurred some of the stronger-than-expected growth, as a greater number of extremely hot and cold days drove up air conditioning and heating use around the world, particularly in China, the U.S. and Russia, the company said.

In the U.S., energy consumption rose by 3.5% in 2018, with oil at 20.5 million barrels a day and a total of 817 billion cubic meters of gas consumed during the year.

 

PÉTROLE BRENT : POURQUOI LES PRIX DU PÉTROLE RECHUTENT À LEUR PLUS BAS NIVEAU DEPUIS JANVIER

by BFM bourse, 3 juin 2019


Les cours du baril d’or noir ont enregistré, en mai, leur première baisse mensuelle de l’année 2019, avec un repli de 11,4% pour le baril de Brent européen et de 15,8% pour son homologue américain, le “light sweet crude” texan ou “WTI“. Ce recul s’est accentué depuis mercredi dernier, porté par la frénésie taxatoire de Donald Trump à l’encontre de la Chine et désormais également du Mexique, qui fait peser des craintes sur la demande mondiale et détourne les investisseurs des valeurs dépendantes de cette croissance mondiale, dont l’or noir fait partie.

UK Government spending foreign aid money to promote fracking in China

by P. Homewood, May 26, 2019 in NotaLotofPeopleKnowThat


Taxpayers’ money earmarked to support overseas development has been spent on supporting China’s fracking industry, The Independent can reveal.

The government is required to spend 0.7 per cent of its national income each year on foreign aid.

But even with climate change threatening the developing world with droughts, flooding and heatwaves, millions have been spent on fossil fuel investment abroad over the past two years.

This includes two schemes aiming to “export the UK’s expertise in shale gas regulation” to China, as controversy about new drilling sites rages back in Britain.

https://www.independent.co.uk/news/uk/politics/fracking-china-foreign-aid-shale-gas-climate-change-environment-dfid-funding-promoting-a8637601.html

 

I won’t bore you with the rest of the story. As you can probably guess, the “Independent” being the “Independent” proceeds to give full coverage to a load of eco cranks, including Christian Aid, who claim that the rapidly changing climate is driving more extreme weather, more acute disasters. (Don’t they know it’s a sin to lie?)

At the end they deign to give a few words to the government spokesperson.

 

Leaving aside the question why China needs our aid at all,  the “Independent” fails to ask the really relevant question of why our government is so keen for us to decarbonise at huge cost, but at the same time thinks it is a good idea to help China develop their natural gas sector?

Vice-President Šefčovič joins U.S. President Trump in opening an LNG export terminal

by European Commission, May 14, 2019


LNG

The next ‘Ferrari of shale’ may be hiding in Australia’s outback

by Bloomberg Business,  May 3, 2019, in theJapantimes


In a corner of the Australian Outback, a drilling crew will soon try tapping shale rocks that could hold more than three times the world’s annual consumption of natural gas.

Origin Energy Ltd. plans to drill two wells later this year in the Northern Territory’s Beetaloo Basin, after the local government ended a three-year ban on fracking — the practice of extracting oil and gas from layers of shale rock deep underground. With an estimated 500 trillion cubic feet (14 trillion cubic meters) of gas, Beetaloo has been compared to famed U.S. shale regions such as Marcellus and Barnett.

But its isolated location, lack of infrastructure and the likelihood of tough environmental opposition make Beetaloo a highly speculative investment.

“There are some big numbers being quoted, and people have to realize this is exploration,” said Mark Schubert, Origin’s head of integrated gas, noting that only some of the total reserves would be extractable.

Transition énergétique : et le grand gagnant est… le gaz !

by Michel Gay, 3 mai 2019 in Contrepoints


C’est le gaz, bien plus que les énergies renouvelables, qui répond à la hausse de la consommation mondiale d’énergie. Cette dernière a augmenté de 2,3 % en 2018 selon un rapport de l’Agence internationale de l’énergie (AIE) publié mardi 26 mars 2019 qui souligne « une performance exceptionnelle »…

Le marché du gaz naturel, auparavant limité par les possibilités des gazoducs, se mondialise rapidement avec des bateaux transportant du gaz naturel liquéfié (GNL) à travers le monde.

L ’ÂGE D’OR DU GAZ NATUREL (INCLUANT LE GAZ DE SCHISTE)

L’Association allemande des industries de l’énergie et de l’eau (BDEW) a mis en garde sur l’écart en Allemagne entre la capacité de production classique (pilotable) d’électricité (nucléaire, charbon et gaz) et la demande d’ici 2023. Elle a exhorté les décideurs politiques à aider les investisseurs en récompensant les nouvelles capacités pilotables de production d’électricité, notamment le gaz.

China Says Massive Shale Oil Reserves Found In North

by Tsvetana Paraskova, March 1, 2019 in OilPrice


China has found massive shale oil reserves in its northern Tianjin municipality, Chinese news agency Xinhua reported on Friday.

Two wells at a field have been flowing for more than 260 days, according to Dagang Oilfield, a subsidiary of state-owned China National Petroleum Corporation (CNPC).

The newly found shale reserves will help boost China’s national energy security and economic development, Xinhua quoted CNPC as saying.

According to EIA estimates, China ranks third in the world in terms of technically recoverable shale oil resources, behind Russia and the United States

America is set to surpass Saudi Arabia in a ‘remarkable’ oil milestone

by Charles the moderator, March 11, 2019 in WUWT


From CNN Business

New York (CNN Business)Move over, Saudi Arabia. America is about to steal the kingdom’s energy exporting crown.

The United States will surpass Saudi Arabia later this year in exports of oil, natural gas liquids and petroleum products, like gasoline, according to energy research firm Rystad Energy.

That milestone, driven by the transformative shale boom, would make the United States the world’s leading exporter of oil and liquids. That has never happened since Saudi Arabia began selling oil overseas in the 1950s, Rystad said in a report Thursday.

“It’s nothing short of remarkable,” said Ryan Fitzmaurice, energy strategist at Rabobank. “Ten years ago, no one thought it could happen.”

The expected breakthrough reflects how technology has reshaped the global energy landscape. Drilling innovations have opened up huge swaths of oil and natural gas resources that had been trapped in shale oilfields in Texas, North Dakota and elsewhere.

Led by shale, US oil production has more than doubled over the past decade to all-time highs. The United States now pumps more oil than any other country, including Russia and Saudi Arabia.

“The shale boom has driven incredible increases in production,” said Fitzmaurice. “US production is off the charts.”

Fracking the World: Despite Climate Risks, Fracking Is Going Global

by Justin Mikulka, March 4, 2019 in Desmog


The U.S. exported a record 3.6 million barrels per day of oil in February. This oil is the result of the American fracking boom — and as a report from Oil Change International recently noted — its continued growth is undermining global efforts to limit climate change. The Energy Information Administration predicts U.S. oil production will increase again in 2019 to record levels, largely driven by fracking in the Permian shale in Texas and New Mexico.

And the U.S. is not alone in trying to maximize oil and gas production. Despite the financial failures of the U.S. fracking industry, international efforts to duplicate the American fracking story are ramping up across the globe.

The CEO of Saudi Arabian state oil company Aramco recently dismissed the idea that global demand for oil will decrease anytime soon and urged the oil industry to “push back on exaggerated theories like peak oil demand.”

But Saudi Aramco also is gearing up for a shopping spree of natural gas assets, including big investments in the U.S., and increasing gas production via fracking in its own shale fields. Aramco is deeply invested in keeping the world hungry for more oil and gas.

Khalid al Falih, Saudi Arabia’s energy minister, told the Financial Times, “Going forward the world is going to be Saudi Aramco’s playground.” But not if other countries frack there first.

China Expanding Fracking Efforts, Testing New Technology

ExxonMobil announces 5-8t cubic feet of gas off Cyprus (Update2)

by Georges Psyllides, February 28, 2019 in CyprusMail


Cyprus and ExxonMobil on Thursday announced a gas find estimated between 5-8 trillion cubic feet (tcf) in an offshore field inside the island’s exclusive economic zone.

The discovery was made in the Glafcos (Glaucus) 1 well in Block 10 of the EEZ.

“Based on preliminary interpretation of the well data, the discovery could represent an in-place natural gas resource of approximately 5 trillion to 8 trillion cubic feet (142 billion to 227 billion cubic metres). Further analysis in the coming months will be required to better determine the resource potential,” the company said in a statement.

Is China’s plan to use a nuclear bomb detonator to release shale gas in earthquake-prone Sichuan crazy or brilliant?

by Charles the moderator, January 31, 2019 in WUWT


From The South China Morning Post

  • Scientists have developed an ‘energy rod’ that can fire multiple shock waves to frack sedimentary rock at depths of up to 3.5km

  • China has the world’s largest reserves of natural gas but current mining technology makes most of it inaccessible

China is planning to apply the same technology used to detonate a nuclear bomb over Hiroshima during the second world war to access its massive shale gas reserves in Sichuan province. While success would mean a giant leap forward not only for the industry but also Beijing’s energy self-sufficiency ambitions, some observers are concerned about the potential risk of widespread drilling for the fuel in a region known for its devastating earthquakes.

Despite being home to the largest reserves of shale gas on the planet – about 31.6 trillion cubic metres according to 2015 figures from the US Energy Information Administration, or twice as much as the United States and Australia combined – China is the world’s biggest importer of natural gas, with about 40 per cent of its annual requirement coming from overseas.

Il y a pléthore de gaz et de pétrole ! Vous êtes au courant ?

by Michel Gay, 13 janvier 2019 in Contrepoints


Du gaz et du pétrole de schiste sont découverts à profusion dans le monde, notamment aux États-Unis. Qui en parle dans nos grands media ? Serait-ce politiquement incorrect de l’évoquer ?

LE SUCCÈS DU PARI DU GAZ ET DU PÉTROLE DE SCHISTE

Le Texas aux États-Unis regorge de pétrole et de gaz de schiste au point que les gazoducs existants sont saturés ! Le gaz doit même être « torché » ou « éventé ».

En attendant la mise en service de nouvelles capacités de transport, la production doit être réduite faute de pouvoir exporter les quantités extraites. La production de pétrole de schiste doit aussi être réduite en parallèle car il est extrait avec le gaz (et vice-versa).

Des projets sont en développement pour évacuer le gaz vers le Golfe du Mexique pour le liquéfier (GPL) et pouvoir ainsi l’exporter par bateau méthanier.

PREMIER PRODUCTEUR DE PÉTROLE

Les États-Unis ont dépassé la Russie et l’Arabie Saoudite pour devenir le premier producteur de pétrole brut  en 2018 a annoncé l’agence américaine de l’énergie (EIA).

Après avoir stagné autour de 6 millions de barils par jour (Mb/j) en moyenne de 1933 à 2013, la production a grimpé à 9,4 Mb/j en 2017, puis à 10,4 Mb/j en 2018, et elle passera à 11,5 Mb/j 2019.

La surabondance de gaz de schiste associé à l’extraction du pétrole de schiste a fait chuter les prix au terminal gazier à l’ouest du Texas jusqu’à 1 dollar par million d’unité thermique britannique (dollar/MM-Btu), alors qu’il vaut 13 à 14 dollars/MM-Btu sur le marché européen.

Natural Gas Power Plants Bringing $25 Billion to the Appalachian Basin

by Jackie Stewart, October 9, 2018 in EnergyInDepth


The Appalachian Basin is driving growth of record-shattering U.S. natural gas production, which in turn has helped spur more than $25 billion in natural gas electricity generation investment in the region. In fact, there are 29 new 475-megawatt (MW) or greater natural gas-fired power plants that are in various stages of permitting, under construction or have recently become operational in Ohio (10), Pennsylvania (16) and West Virginia (3), representing more than 26,000 MW of added electric capacity, more than 17,000 jobs during construction and incredible emissions reductions in the electricity sector.

U.S. Crude Oil and Natural Gas Proved Reserves, Year-end 2017

by U.S. Energy Information Administration, November 2018


Stronger oil and natural gas prices combined with continuing development of shales and low permeability formations drove producers of crude oil and natural gas in the United States to report new all-time record levels of proved reserves for both fuels in 2017. Total U.S. oil reserves in 2017 exceeded a brief, one-year, 47-year-old record, highlighting the importance of crude oil development in shales and low permeability plays, mainly in the Southwest. The new record for natural gas extends a longer-term trend of development, mainly in shale plays in the Northeast. Both U.S. proved reserves of crude oil and natural gas are approximately double their levels from a decade ago. These new proved reserves records were established in 2017 despite production of crude oil at levels not seen since 1972, and record natural gas production.

Highlights are listed below.