by David Blackmon, August 17, 2017 in Forbes
“We should view the Permian Basin as a permanent resource,” he says, “The Permian is best viewed as a near infinite resource – we will never produce the last drop of economic oil from the Basin.”
No one disputes that the resource in the Permian is huge, but ‘infinite’ is a big word. I asked him to expand on that concept.
See also here
by Irina Slav, July 16, 2017 in OilPrice
Weinberg advised OPEC to change tack and go back to what it set out to do initially: stifle U.S. shale by pumping at maximum. “They should let prices crash to kill shale and then aim for steady price increases in the long term,” Weinstein told Bloomberg. The question remains, however, whether OPEC, with oil-reliant budgets already strained, could afford this tactic reversal now that they’ve suffered price lows for an extended period of time.
by Haley Zaremba, July 6, 2017 in OilPrice from AAPG
But now, just as shale gas prices are finally rebounding from last year’s all-time-lows, the United States’ two biggest shale gas deposits are producing record amounts of fuel, threatening to push gas prices back down. As the Appalachian Marcellus shale basin and the Texas-based Permian basin rush to conquer a market share, the U.S. gas glut shows no signs of stopping.
by John Kemp, June 14, 2017, in Reuters
The speed and scale at which U.S. shale production has bounced back from the slump in 2015/16 has confounded OPEC and all the other major forecasters.
The oil market is on an unsustainable course with output from U.S. shale and other non-OPEC sources 010increasing rapidly, while OPEC and its allies trim production to reduce inventories and prop up prices.
The International Energy Agency (IEA) projects non-OPEC output will increase by 1.5 million barrels per day (bpd) in 2018 (“Oil Market Report”, IEA, June 2017).
If that proves correct, non-OPEC suppliers will capture all the increase in demand next year, because the IEA predicts consumption will increase by only 1.4 million bpd.
by Steve Austin, June 6, 2017
Some wars are fought on the sidelines. They too are full of ideas, intrigue and bravado. Some backfire thoroughly. The Saudis took a brunt of it in their war with shale.
In the US, after the peak oil production of early seventies, the oil industry went into a limbo. It even looked like the US would be an importer of oil forever. Yet, thing did change.
by Collin Eaton, May 27, 2017 in Houston Chronicle
Drillers have mastered feat of pumping more at less cost
On a drilling rig towering above quiet cattle farms in Southeast Texas, Eric Williams perched inside the cabin of the 16-story machine, twisting a pair of joysticks to guide a gigantic wrench roaring into action, drowning out every sound as it reached for a 1,500-pound pipe emerging from the earth – pipe that soon will feed oil into a second shale boom.
by John Kemp, London in Reuters, June 1, 2017
U.S. oil production continues to rise relentlessly, frustrating efforts by OPEC and non-OPEC oil exporters to rebalance the global market and secure an increase in the price of crude.
After a devastating slump in 2015 and 2016, the U.S. oil industry has returned to strong growth, with drilling and output rising rapidly
by Ivana Kottasová, CNN Money, May 11, 2017
OPEC said that one producer in particular is to blame: The U.S., where shale producers have continued to ramp up their drilling despite lower crude prices.
by Professeur François Lafargue, Avril 2017
in Connaissance des Energies
La puissance économique et industrielle de l’Afrique du Sud classe naturellement ce pays au premier rang des consommateurs d’énergie en Afrique. L’Afrique du Sud consomme 30 % de l’énergie primaire et 37 % de l’électricité produites sur le continent africain. Les fréquents dysfonctionnements des infrastructures d’électricité constatés ces dernières années ont placé la question de l’énergie au centre des débats publics.
by M DiLallo, March 25, 2017
Believe it or not, America has been fracking oil wells since right around the time of the Civil War. That said, modern oil well fracking didn’t start taking shape until the 1940s, and it wasn’t until the 1990s when it was combined with horizontal drilling to unleash the shale gas boom. The industry eventually transferred those two techniques into oil drilling when Continental Resources (NYSE:CLR) drilled the first commercially successful well in the North Dakota Bakken.
by Anna Shiryaevskaya, March 24, 2017
The heart of Europe’s gas market may finally get a helping hand from the American shale revolution as fuel is poised to cross the Atlantic to replenish depleted inventories after the coldest January in seven years.
by Nick Butler, March 13, 2017
After the dip last year, production of oil from shale rocks in the US is increasing again. Estimates for this year range from a net increase of between 400,000 and 800,000 b/d. And 2017 is not a one-off year. The Permian Basin in Texas — the main focus for the new activity — has oil reserves that exceed those of all the largest discovered fields globally, such as Ghawar in Saudi Arabia and Prudhoe Bay in Alaska
by Jesse Snyder, March 10, 2017
Vicky Hollub, the CEO of Occidental Petroleum Corp., speculated that Permian production could in coming years reach as high as four or five million barrels per day, up from around 2.2 million bpd today.
A confluence of factors has created “near nirvana” for the U.S. shale industry, analysts at Citi Group said in a recent research note. Among those factors was the OPEC-led agreement to curb oil supplies in an attempt to lift prices.
The American Interest, February 22, 2017
That’s a big turnaround—producers have succeeded not only in halting a slide predicted by a corresponding fall in global oil prices, but they’ve also been able to once again