Keyword: shale

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  • Chinese investment could begin to pay off within a year 'We're going full steam ahead, immediately'

    11/12/2017 7:58:39 AM PST · by 2ndDivisionVet · 10 replies
    The Exponent Telegram ^ | November 12, 2017 | Rusty Marks
    CHARLESTON — After news broke that state officials had brokered an $83.7 billion deal with China Energy Investment Corporation to invest in West Virginia’s shale gas and chemical industries, one of the first questions to come up was how soon the Mountain State might see the fruits of the agreement. “We’re going full steam ahead, immediately,” state Commerce Secretary Woody Thrasher said in a telephone call from China. According to U.S. Sen. Shelley Moore Capito, R-W.Va., Thrasher and others familiar with the memorandum of understanding, ground could be broken within six to eight months on two gas-fired power stations to...
  • World’s No.1 Oil Trader: U.S. To See Final Oil Output Spike In 2018

    10/11/2017 1:45:59 PM PDT · by bananaman22 · 13 replies
    Oilprice.com ^ | 11-10-2017 | Julianne
    The best is yet to come for US oil production—but it will be a short-lived hurrah, according to Ian Taylor, head of oil trading giant Vitol. US oil production has steadily increased throughout 2017 as US drillers regained their footing after the oil price crash. What started out at 8.946 million bpd of crude oil production in the first week of January has now reached an average of 9.561 million bpd as of September 29, according to the EIA.
  • Colorado shale is almost size of Marcellus;

    08/08/2017 10:01:26 AM PDT · by ckilmer · 48 replies
    fc-gi.com ^ | Jun 14, 2016
    Intelligence brief: Colorado shale is almost size of Marcellus; Pipeline bill calls for new technologies Jun 14, 2016 Colorado is famous for its high peaks; now it could also be known for its shale Colorado sits on 40 times more natural gas than previously thought, according to an updated estimate by the US Geological Survey.The USGS said the Mancos Shale in the Piceance Basin contains about 66 trillion cubic feet of undiscovered, technically recoverable shale natural gas, 74 million barrels of shale oil and 45 million barrels of natural-gas liquids, according to the estimate, the first since 2003.More than 2,000...
  • Dr. Daniel Fine is a nice addition

    07/10/2017 5:50:48 PM PDT · by brownwill6767 · 6 replies
    Roswell Daily Record ^ | 7/8/17 | John A. Yates Jr.
    The recent article by Dr. Daniel Fine in the guest column of your Wednesday edition concerning the impacts of Saudi Arabian-led dismantlement of our lively domestic energy business via flooding the market with underpriced foreign crude from numerous Middle Eastern national oil companies along with other foreign producers like bad actor Venezuelan and Russian puppet oil regime cronies are making for difficulty in our New Mexican oil patch.
  • Paving the path to U.S. energy dominance

    06/26/2017 7:53:36 PM PDT · by 2ndDivisionVet · 4 replies
    The Washington Times ^ | June 26, 2017 | Rick Perry and Ryan Zinke and Scott Pruitt
    ‘Energy Week’ highlights the role of American resources in securing prosperity This week, the Trump administration is hosting “Energy Week” to discuss with state, tribal, business and labor leaders how we can pave the path forward toward U.S. energy dominance. This is a truly amazing moment in the energy sector, and President Trump is seeking to capitalize on the opportunity for the betterment of the American economy and our citizens. For the first time in four decades, the energy story in the United States is about becoming an energy exporter and no longer about peak resources or being beholden to...
  • New Briquetted Iron Plant for East Toledo, OH (1.200 const. jobs & 130 perm. jobs at $100K year)

    06/19/2017 11:55:35 PM PDT · by 2ndDivisionVet · 9 replies
    Cleveland's Cliffs Natural Resources Inc. announced it will build the Midwest's first-ever plant producing hot briquetted iron used in steelmaking. The $700 million project is expected to break ground in early 2018 on the Ironville site in East Toledo, a former Brownfield site. The project is scheduled to create 1,200 construction jobs and 130 permanent jobs. Hourly jobs at the plant will pay about $100,000, said Lourenco Goncalves, chairman, president and chief executive officer of the 170-year-old mining and natural resources company. The plant will be Cliffs' first facility in Ohio and is to begin production in 2020. "We got...
  • (PIRI) Calls for New White House Policy: Unfair Trade Endangers U.S. Oil Industry Too

    05/27/2017 10:34:20 PM PDT · by brownwill6767 · 16 replies
    Business Wire ^ | 5/18/17 | The Panhandle Import Reduction Initiative
    AMARILLO, Texas--(BUSINESS WIRE)--In a letter directed to the President of the United States and received by the White House, the founders of (PIRI), the Panhandle Import Reduction Initiative representing thousands of independent small producers of oil in the Southwest United States wrote, “We call upon President Donald J. Trump for a second Presidential Memorandum to order the Secretary of Commerce, to establish the crude oil industry as a “Core” industry to be added to steel, aluminum, vehicles, aircraft, shipbuilding and semiconductors. Crude oil should be recognized as one of the critical elements of US manufacturing and defense industrial bases, which...
  • Ethane hub gets bipartisan support (100,000 jobs in West Virginia averaging $90,000 a year)

    05/20/2017 2:50:41 PM PDT · by 2ndDivisionVet · 21 replies
    The Herald-Star ^ | May 20, 2017 | Joselyn King
    WHEELING — West Virginia’s congressional delegation is showing a unified front in pushing for an ethane storage hub for central Appalachia, and they hope state leaders in Ohio and Pennsylvania join them. U.S. Sens. Joe Manchin, D-W.Va., and Shelley Moore Capito, R-W.Va., were joined Thursday by Rep. David McKinley, R-Wheeling, and American Chemistry Council President Cal Dooley for a news conference to tout the economic benefits of placing the hub near oil and gas reserves in Appalachia rather than near chemical industry operations on the Gulf Coast. Manchin and Moore, along with Sen. Rob Portman, R-Ohio, last week introduced the...
  • Oil Prices Crash To Pre-OPEC Deal Levels

    05/04/2017 9:09:00 AM PDT · by bananaman22 · 31 replies
    Oilprice.com ^ | 04-05-2017 | Para
    Oil prices dropped on Thursday to their lowest level since last November, with Brent breaking below $50, amid concerns of rising global supply and still high inventories. At 11:22am EDT, WTI Crude was trading down 2.82 percent at $46.47, while Brent was down 2.62 percent at $49.46 -- with both WTI and Brent having effectively wiped out all the price gains since OPEC announced on 30 November 2016 the output cut deal aimed at reducing oversupply and propping up prices. On Wednesday, a day after the American Petroleum Institute (API) injected a bit of optimism among traders by reporting a...
  • 2020s To Be A Decade of Disorder For Oil

    04/17/2017 8:08:09 AM PDT · by bananaman22 · 18 replies
    Oilprice.com ^ | 17-04-2017 | Nicholas
    The 2020s could be a “decade of disorder” for the oil markets as the lack of drilling today leads to a shortfall of supply. Demand will continue to grow, year after year, and shale will not be able to keep up. It may be hard to envision today, with an oil market suffering from low prices and a glut of supply. Falling breakeven prices have drillers still churning out huge volumes of shale oil, with production in the U.S. already rebounding and rising on a weekly basis. The tidal wave of shale, however, is the direct result of extreme market...
  • Report: Service companies to ramp-up hiring efforts this year (Oil and gas)

    04/06/2017 3:48:40 PM PDT · by 2ndDivisionVet · 1 replies
    Offshore Magazine ^ | April 6, 2017 | Staff
    OSLO, Norway – Recent research from Rystad Energy shows that oilfield service companies should begin recruiting later this year following the significant workforce reduction in the industry throughout 2014 to 2016. Service companies working within the shale sector are already starting to recruit again, the analyst firm said, after the top four service companies, all of which were exposed to the US land market, were forced to lay off between 30-40% of their workforce. Rystad found that companies exposed to more of the international market have cut more modestly, in the range of 20-30%. “Among the top 50 service companies,...
  • What Petro States Can Learn From The U.S. Shale Boom

    03/08/2017 10:48:06 AM PST · by bananaman22 · 6 replies
    The dynamics of the oil industry have changed dramatically since the beginning of 2010. Because of the U.S. shale revolution, the U.S. is now a country with oil production rivaling that of Saudi Arabia and Russia. The fundamental shift in oil power has come as a direct result of investment in the technology of horizontal drilling and hydraulic fracturing of tight oil formations in the U.S. In 2010, U.S. production from tight oil shale formations were marginal in comparison to total U.S. oil production; however, tight oil now makes up 52 percent of all U.S. oil production.
  • Donald Trump vows to unlock $66 trillion shale oil and gas revolution

    01/23/2017 12:32:21 PM PST · by 2ndDivisionVet · 55 replies
    The Australian ^ | January 23, 2017 | Graham Lloyd
    US President Donald Trump has pledged to unlock a $US50 trillion ($66 trillion) shale oil and gas revolution and boost development of low emissions coal technology for electricity. The Energy First plan was outlined as the top priority in President Trump’s first action statement after being sworn into office. The statement committed Trump to scrapping the Obama government’s Climate Action Plan but did not mention renewable energy or whether the US would remain in the Paris agreement. It was a full endorsement of the future use of fossil fuels. The Trump plan mirrors debate in Australia over energy security. The...
  • Donald Trump could make US world-leader with $25 dollar oil, claims Wall Street analyst

    01/18/2017 10:35:01 PM PST · by 2ndDivisionVet · 38 replies
    Energy Voice ^ | January 19, 2017 | Alan Shields
    A leading Wall Street investment expert claims that Donald Trump could make the US a world leading “energy powerhouse” during his presidency. Joseph Grinkorn, chief executive officer of Morris Group, believes the presidential elect could force global oil prices as low as $25 dollars a barrel by tapping into America’s reserves. Mr Grinkhorn, a New York-base entrepreneur that specialises in finance, claims that the Republican’s first 100 days in office could be a “game changer” for the global energy industry. Both OPEC and non-OPEC member countries have already agreed to cut production for the first six months of this year...
  • ‘Untapped Energy:’ Trump Promises A $50 Trillion Economic Stimulus

    01/03/2017 8:37:15 PM PST · by 2ndDivisionVet · 98 replies
    The Daily Caller ^ | September 23, 2016 | Michael Bastasch
    Republican presidential candidate Donald Trump laid out his energy plan to industry experts Thursday that included policies to unleash $50 trillion from “untapped” oil, natural gas and coal reserves. Trump said “untapped energy — some $50 trillion in shale energy, oil reserves and natural gas on federal lands, in addition to hundreds of years of coal energy reserves,” according to The Wall Street Journal report on the candidate’s speech at an energy summit in Pittsburgh, Penn. It’s all part of Trump’s plan to boost lagging energy production on federal lands. Trump said he would open up all federal lands to...
  • Saudi Arabia Surrenders To U.S. Shale

    12/06/2016 8:56:05 AM PST · by bananaman22 · 23 replies
    Oilprice.com ^ | 06-12-2016 | CityAM
    “Ending wars is very simple if you surrender.” – PJ O’Rourke The new OPEC deal to cut oil output – the cartel’s first since 2008 – amounts to nothing less than Saudi Arabia’s surrender to the power of American shale. It has come about due to Riyadh’s belated, horrified understanding that it has utterly lost control over the energy market, running through its capital reserves in the process. Rather than young, feckless Deputy Crown Prince Mohammed bin Salman using Saudi Arabia’s John D Rockefeller strategy to permanently drive U.S. shale out of the energy market, the exact opposite result has...
  • US Already Ready to Take Advantage of OPEC Cut

    12/05/2016 5:23:47 PM PST · by 198ml · 22 replies
    The American Interest ^ | 12/5/16 | TAI
    Don’t look now, but an American shale rebound is already underway. Operators have been steadily putting more oil rigs into operation for months now, and we’ve been seeing signs that the industry has been ready to stop a slide in output and start ramping up total U.S. production for months now. This week, as Reuters reports, the U.S. saw its rig count rise yet again.
  • Trump’s Path to Mount Rushmore

    11/30/2016 11:40:21 AM PST · by 2ndDivisionVet · 24 replies
    The American Interest ^ | November 27, 2016 | Walter Russell Mead
    Smart energy policy could give the next President his best prospect for spurring growth in manufacturing jobs—and thus delivering on the promises his voters think matter most. Pundits are terrible at predicting presidencies; remember the hymns to the greatness of the Second Lincoln, the New Roosevelt, and the Democratic Reagan that wafted to the heavens during the Obama transition. And the pundits were even worse at predicting Trump’s fate during the election; how many times did they predict his demise? But now, as convinced as ever of his incompetence and their infallibility, the punditocracy is telling us why the Trump...
  • 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...
  • Vast Shale Oil Field in Texas Could Yield 20 Billion Barrels

    11/16/2016 5:21:43 PM PST · by smokingfrog · 32 replies
    ABC News ^ | 11-16-16 | David Warren
    A vast field of shale rock in West Texas could yield 20 billion barrels of oil, making it the largest source of shale oil the U.S. Geological Survey has ever assessed, agency officials said. The Wolfcamp Shale geologic formation in the Midland area also contains an estimated 16 trillion cubic feet of natural gas and 1.6 billion barrels of natural gas liquids, the agency said in a release. The discovery is nearly three times larger than the shale oil found in 2013 in the Bakken and Three Forks formations in the Dakotas and Montana, said Chris Schenk, a Denver-based research...