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Keyword: shale

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  • NM Energy Outlook Summit: Forecasts hazy for industry in flux

    11/13/2015 6:28:20 PM PST · by brownwill6767
    Albuquerque Business First ^ | 11/13/15 | Sal Christ
    Panelists at Business First's second annual New Mexico Energy Outlook Summit yesterday offered but one common ground: Something needs to be done to turn the industry around. SPONSORED BY PEOPLE ON THE MOVE Tanja Jenkins Tanja Jenkins Boys & Girls Clubs of Central New Mexico Andrew G. Schultz Andrew G. Schultz City of Albuquerque Board of Ethics and Campaign Practices SPONSORTony Royle, CPA Tony Royle, CPA Moss Adams See More People on the Move Emceed by ABF publisher Candace Beeke, the event brought together Dr. Daniel Fine, associate director of the New Mexico Center for Energy Policy at New Mexico...
  • Radical Environmentalist are Anti Humanist: Jacki Daily Show

    11/11/2015 6:07:25 PM PST · by RaceBannon
    The Jacki Daily Show ^ | 11/8/15 | The Jacki Daily Show
    The Jacki Daily Show Radical Environmentalist are Anti Humanist - 11/8/15 Jacki starts the show interviewing Gifford Briggs, vice president and chief lobbyist of the Louisiana Oil & Gas Association (LOGA), which represents the independent and service sectors of the state’s oil and gas industry. Jacki is joined by Rob Henneke of the Texas Public Policy Foundation to discuss the upcoming At the Crossroads: Energy & Climate Policy Summit on November 19th 2015 Jacki is also joined by Robert Zubrin, author of" Merchants of Despair: Radical Environmentalists, Criminal Pseudo-Scientists, and the Fatal Cult of Antihumanism"
  • Obama Buddy Buffett Doubles BNDF investment due to Keystone Decision

    11/09/2015 7:44:39 AM PST · by raptor22 · 12 replies
    American Thinker ^ | November 9, 2015 | Daniel John Sobieski
    When President Obama announced he was killing the Keystone XL pipeline, he said he was agreeing with the State Department’s assessment that the pipeline from Canada “would not serve the national interests of the United States.” The fact is that it would not have benefitted the personal financial interests of friend and economic mentor, Warren Buffett, who can rest assured that oil from Canada and the nearby Bakken formation in North Dakota will continue to be transported by a railroad he owns. As Investor’s Business Daily noted in a 2011 editorial: Killing the Keystone XL pipeline may help one of...
  • Publisher's note: Energy industry critical to New Mexico, your business

    11/06/2015 9:17:54 PM PST · by brownwill6767 · 3 replies
    Albuquerque Business First ^ | 11/5/15 | Candace Beeke
    It’s time to talk seriously about the energy industry in New Mexico. And you have some work to do. Whether your business is directly involved in this industry, it’s very much tied to its outcomes — and right now, there’s much concern about that in the state. After all, some 30 percent of New Mexico’s tax base comes from oil and gas. And you’ve read the headlines we’ve been reporting on how that sector is faring. If you haven’t, let me recap — it’s a fracking mess. The price of oil dropping more than a year ago has resulted in...
  • 2PM Jacki Daily Live on THE BLAZE Radio!

    11/01/2015 9:47:11 AM PST · by RaceBannon
    The Jacki Daily Show ^ | 11/1/2015 | The Jacki Daily Show
    THE JACKI DAILY Show! Listen live at 2PM Eastern! The host of the Jacki Daily show has had an impressive career in energy, law, and politics.Most recently, Jacki served as General Counsel to an engineering firm specializing in energy, national security and environmental cleanup. Previously, she served many years as legal counsel on Capitol Hill to the Chairman of the Subcommittee on the Constitution and the former Ranking Member of the Commercial and Administrative Law Subcommittee, advising on the oversight of federal agencies. Prior to her career in Washington, she worked as a corporate litigator, and as an Assistant Vice...
  • Tens of billions of dollars evaporating from oil patch

    10/29/2015 5:23:47 AM PDT · by thackney · 8 replies
    Houston Chronicle ^ | October 27, 2015 | Chris Tomlinson
    Like a puddle of spilled water on a Midland street in August, money is evaporating out of the oil patch. Six companies alone will likely write off more than $60 billion from their balance sheets because the value of their oil and natural gas reserves have plummeted, according to a forward-looking story by the Chronicle's Collin Eaton. Looking at the industry as a whole, including private companies that are not required to reveal their finances, hundreds of billions of investors' dollars could disappear. The number of oil and gas companies declaring bankruptcy continues to rise, which means even more losses...
  • Infrastructure upgrades anticipate industry rebound

    10/28/2015 11:26:10 PM PDT · by brownwill6767
    Albuquerque Journal ^ | 10/26/15 | Kevin Robinson-Avila
    New Mexico’s oil and gas industry may be in the doldrums now, but state and economic development officials are laying the groundwork for a rapid comeback when markets improve. Gov. Susana Martinez released a new energy plan for New Mexico in September that calls for broad infrastructure development in the state’s Permian Basin in the southeast and the San Juan Basin in the northwest to facilitate oil and gas development. That includes road improvements, new pipelines to transport crude and natural gas, and possibly a new 100-mile rail line running from Interstate 40 in Gallup to Farmington. It also calls...
  • Volatile times loom for NMs oil patch

    10/26/2015 3:30:15 PM PDT · by brownwill6767 · 2 replies
    Albuquerque Journal ^ | 10/26/15 | Kevin Robinson-Avila
    nery in Artesia. (Roberto E. Rosales/Albuquerque Journal) By Kevin Robinson-Avila / Journal Staff Writer Published: Monday, October 26th, 2015 at 12:02am Updated: Monday, October 26th, 2015 at 10:52am Editors note: An earlier version of this story contained an incorrect time frame in a quote from Dan Fine about when prices might dip into the $23 to $28 per barrel range. The quote has been corrected to show that projection for late 2017. New Mexicos oil and gas industry is bracing for another round of volatile ups and downs in crude prices that could push the market and ultimately production...
  • New Mexico Energy Outlook Summit with leading energy expert Dr. Daniel Fine to give keynote...

    10/24/2015 2:46:44 PM PDT · by brownwill6767 · 2 replies
    Albuquerque Business First ^ | 10/1/15 | Tamra Fenstermaker
    Join Albuquerque Business First for the 2nd Annual New Mexico Energy Outlook Summit. This Summit will offer business leaders unique access to energy insights that will affect your company in the year to come. When: Thursday, November 12, 2015, 7:30am-9:30am Add to my calendar Where: Sandia Resort & Casino: Ballrooms A&B Albuquerque NM
  • The Importance of Stability in Energy Production Regions: Jacki Daily Show

    10/20/2015 4:09:53 PM PDT · by RaceBannon
    The Jacki Daily Show ^ | 7/27/15 | The Jacki Daily Show
    The Importance of Stability in Energy Production Regions 7/27/15 On this week's Jacki Daily Show, Jacki speaks with Gal Luft of the Institute for the Analysis of Global Security. She speaks to Phil Fishman, author of A Really Inconvenient Truth. Also Jacki speaks with Ed Ireland, PhD and leading expert on Barnett Shale issues. Dr. Gal Luft is co-director of the Institute for the Analysis of Global Security (IAGS) a Washington based think tank focused on energy security, and a senior adviser to the United States Energy Security Council, a cabinet level exta governmental advisory committee. He is also...
  • The Moral case for Fossil Fuels: Jacki Daily Show

    10/19/2015 3:06:39 AM PDT · by RaceBannon · 4 replies
    The Jacki Daily Show ^ | 5/19/15 | Jacki Daily
    Alex Epstein gives an overview of his book, The Moral Case for Fossil Fuels, and brings his Philosophy expertise to break down the Marxist, human-hostile underpinnings of the fringe Green movement. Best of the Jacki Daily Show. Interviews include Alex Epstein, Author of the Moral Case for Fossil Fuels and Jim Amos, Chairman of Proctor & Gamble's Franchising Division
  • General James Jones and Jacki discuss the world of energy haves and energy have-nots,

    10/15/2015 3:07:09 AM PDT · by RaceBannon
    The Jacki Daily Show ^ | 8/28/14 | Jacki Daily
    In Part I, General Jones and Jacki discuss a view of the world as comprised of energy haves and energy have-nots, energy scarcity as a weapon of war, and what it means for the U.S. to take leadership as the top energy producer. In Part II, General Jones and Jacki discuss the strategic benefits of the Keystone Pipeline, and efforts by foreign energy producers to fund activism against U.S. and European energy production. Finally, the General answers the question: ISIS in Iraq; Whats energy got to do with it?
  • Obamas Fracking Regulations Take A Serious Hit

    10/01/2015 10:09:27 AM PDT · by bananaman22 · 4 replies
    Oilprice.com ^ | 01-10-2015 | regulate
    On September 30, a federal judge struck down the U.S. Department of Interiors regulations on hydraulic fracturing, a blow to the Obama administrations efforts at putting standards on the drilling practice. A U.S. District Judge in Wyoming issued an injunction against the implementation of Interiors rules. In March 2015, the Bureau of Land Management (part of the Interior Department) issued its final rule for fracking on public lands. According to BLM, there are over 100,000 oil and gas wells on federal lands, over 90 percent of which use fracking. Current federal well-drilling regulations are more than 30 years old and...
  • Fracking Firms That Drove Oil Boom Struggle to Survive

    10/01/2015 9:33:40 AM PDT · by Lorianne · 3 replies
    Wall Street Journal ^ | 23 September 2015 | Alison Sider
    Stiff competition, lack of business lead to bankruptcies, distress ___ A wave of bankruptcies and closures is sweeping across the oil patch, with dozens of hydraulic-fracturing companies at risk, industry experts say. Most of the companies that help oil-and-gas explorers drill and frack wells are small, privately owned and just a few years old. They are part of a flood of new entrants in the energy businessone that is drying up as oil prices languish below $50 a barrel. One of the latest casualties is Pro-Stim Services. Launched in 2011 with backing from Turnbridge Capital LLC, a private-equity firm, the...
  • Trouble Ahead For The Worlds Next Shale Boom?

    09/30/2015 8:17:44 AM PDT · by bananaman22 · 6 replies
    Oilprice.com ^ | 30-09-2015 | jaja
    Argentina has often been held up as the next most likely location for a shale revolution, with some of the largest shale oil and gas reserves in the world. Argentina could hold more than 800 trillion cubic feet of shale gas, more than the U.S., and second only to China, according to the EIA. Its shale oil resources, at 27 billion barrels, are also significant. If Argentina is to succeed in developing its shale resources, the Vaca Muerta is where it will happen. The shale basin in central Argentina has been one of the most watched shale basins outside of...
  • Shale gas development in China aided by government investment and decreasing well cost

    09/30/2015 5:52:22 AM PDT · by thackney · 11 replies
    Energy Information Administration | SEPTEMBER 30, 2015 | Energy Information Administration
    Decreases in the cost to drill shale gas wells and continued investment into domestic production have allowed China to increase its development of shale gas. Although reliance on natural gas imports has increased in the Chinese energy market, future shale gas production in China would help to meet natural gas demand as the country faces difficulties in developing other natural gas resources, including coalbed methane (CBM). Over the past 25 years, China has attempted to develop its substantial CBM resources, estimated by China's Ministry of Land and Resources (MLR) at more than 1,000 trillion cubic feet (Tcf). Currently, there are...
  • In U.S. shale fields, oil production sliding fast

    09/17/2015 5:29:54 AM PDT · by thackney · 29 replies
    Dallas Morning News ^ | September 15, 2015 | James Osborne
    The flow of crude from what had been the countrys fastest-growing oil and gas regions, like Texas Eagle Ford shale, is declining rapidly, according to new data released by the federal government this week. The Energy Information Administration reports that across the countrys seven largest shale deposits oil production is expected to fall to 5.2 million barrels a day next month, the sixth consecutive month of decline and a six percent drop since April. The fall marks a dramatic turnaround for a U.S. oil industry that had almost doubled its production since 2010. Through the use of advanced hydraulic fracturing...
  • Jacki Daily Show:Unvieling the anti-fracking movement

    09/16/2015 3:14:51 PM PDT · by RaceBannon · 10 replies
    The Jacki Daily Show ^ | 9/14/2015 | Jacki Pick
    Unveiling the AntiFracking Movement & How Fracking Brings Manufacturing Boom 9/14/15
  • US Oil Output: More Buffer Provider Than 'Swing' Producer

    09/15/2015 5:39:33 AM PDT · by thackney · 4 replies
    Forbes ^ | SEP 14, 2015 | Gaurav Sharma
    As oil prices continue to stay low, conjecture on whether or not the US could be given the title of the worlds new swing producer continues to gain traction. There are fierce arguments on both sides fanned by recently published data and the hitherto stubborn oil supply glut. August 2015 became the first month for which the Energy Information Administration published production data using its new survey based method. As a result of the move, US oil production for January to May was revised down by 90,000 barrels per day (bpd) on average. The EIAs revised data now suggests production...
  • Energy expert Dr. Daniel Fine to give breaking news keynote PPROA conference

    09/11/2015 2:18:13 PM PDT · by brownwill6767
    Amarillo Globe News ^ | 9/5/15 | KAREN SMITH WELCH
    Dr. Daniel Fine, associate director of the New Mexico Center for Energy Policy, discusses the impact of falling oil prices on the domestic energy industry.
  • EIA expects near-term decline in natural gas production in major shale regions

    08/26/2015 10:54:29 AM PDT · by thackney · 16 replies
    Energy Information Administration ^ | AUGUST 26, 2015 | Energy Information Administration
    Natural gas production across all major shale regions in EIA's Drilling Productivity Report (DPR) is projected to decrease for the first time in September. Production from these seven shale regions reached a high in May at 45.6 billion cubic feet per day (Bcf/d) and is expected to decline to 44.9 Bcf/d in September. In each region, production from new wells is not large enough to offset production declines from existing, legacy wells. The DPR provides a month-ahead forecast of natural gas and crude oil production for the seven most significant shale formations in the United States. In order to estimate...
  • EIA: US shale oil output to drop 93,000 b/d in September

    08/12/2015 6:48:15 AM PDT · by thackney · 2 replies
    Oil Gas Journal ^ | 08/10/2015 | OGJ editors
    Crude oil production in September from seven major US shale plays is expected to decline 93,000 b/d to 5.27 million b/d, according to the US Energy Information Administrations latest Drilling Productivity Report (DPR). EIA previously projected 91,000-b/d declines for both July and August (OGJ Online, June 9, 2015; July 13, 2015). The DPR focuses on the Bakken, Eagle Ford, Haynesville, Marcellus, Niobrara, Permian, and Utica, which altogether accounted for 95% of US oil production increases and all US natural gas production increases during 2011-13. The Eagle Ford continues to represent a bulk of the overall oil output declines, projected to...
  • The Saudi Oil Price War Is Backfiring

    08/07/2015 10:49:54 AM PDT · by bananaman22 · 23 replies
    Oilprice.com ^ | 08-07-2015 | Wet Towel
    Saudi Arabia has long enjoyed the status of being the top crude oil exporter in the world. With record production of 10.564 million barrels per day in June 2015, Saudi Arabia has been one of the major driving forces behind the current oil price slump. The Saudis have kept their production levels high since last year in order to drive other players (especially U.S. shale drillers) out of business. Equally clear is the fact that this strategy of maintaining the glut and driving out rivals hasnt worked so far. Even when we look at the refining sector, we see that...
  • The US Independents Didn't Get The "Oil's Too Low To Grow" Memo

    08/05/2015 10:52:37 AM PDT · by thackney · 4 replies
    Oil Pro ^ | 8/5/2015 | Joseph Triepke
    Tuesday was a busy announcement day for the US independent E&Ps. After processing Pioneer Natural Resources' plans to ramp production on a $90-oil-price growth trajectory (see our take here), the operational updates released by Devon, Oasis and Cimarex sounded like an echo. Each of these three are also planning for production expansion in spite of oil price weakness. Several times in the past couple months, we've noted the grit of the independents showing up in the one-off datapoint or the operations outlook. This week, we are hit with a flood of new evidence that the US independents are shirking their...
  • Anadarko CEO: Outlook still uncertain for shale comeback

    07/29/2015 11:45:52 AM PDT · by thackney · 3 replies
    Fuel Fix ^ | July 29, 2015 | Collin Eaton
    The CEO of Anadarko Petroleum Corp. says its still unclear when his company should go back into growth mode across U.S. shale plays. And thats not necessarily because of volatility in the oil market, but rather because oil field service companies havent cut prices for equipment and other work deep enough yet. Even with a tremendous amount of hardship that service providers have gone through in the first half of the year, we as an upstream company still dont have the margins we had a year ago, Anadarko CEO Al Walker said in a conference call with investors Wednesday. Analysts...
  • This Is Why A Serious Decline In U.S Shale Plays Is Not Far Away

    07/24/2015 11:13:14 AM PDT · by bananaman22 · 12 replies
    Oilprice.com ^ | 24-07-2015 | KingKurt
    The plunge in oil prices last year led many to say that a decline in U.S. oil production wouldn't be far behind. This was because almost all the growth in U.S. production in recent years had come from high-cost tight oil deposits which could not be profitable at these new lower oil prices. These wells were also known to have production declines that averaged 40 percent per year. Overall U.S. production, however, confounded the conventional logic and continued to rise--until early June when it stalled and then dropped slightly. Anyone who understood that U.S. drillers in shale plays had large...
  • U.S. Winning Oil War Against Saudi Arabia

    07/22/2015 5:40:37 AM PDT · by thackney · 10 replies
    Forbes ^ | 7/22/2015
    ...The EIA has global oil demand in 2020 and beyond being met with increased supplies from a region of the world stuck in a multi-decade crisis that is likely to get much worse before it ever gets better. Supply from the short-cycle U.S. oil market is required to balance the global crude market at a rate where U.S. shale should remain a growth industry.... There have been several key developments that set the stage for the evolutionary phase that the world has now entered: 1) development of mature fracking technologies for oil and gas shale that have made previously uneconomic...
  • Shale Industry May Need A Complete Rethink To Survive

    07/16/2015 11:30:32 AM PDT · by bananaman22 · 3 replies
    Oilprice.com ^ | 16-07-2015 | shale overhaul
    Shale reservoirs have become an important part of North American oil and gas supply and their development has begun a new era of oil and gas production worldwide. Advances in well drilling and completion technologies supported the rapid development of shale resources which contributed to the almost overwhelming success of U.S. shale in recent years. Globally, Argentinas Neuqun Basin and Chinas Sichuan Basin are the two front-runners to emulate the successes of the United States, with Poland, Algeria, Australia, Colombia, Russia, and Mexico still in earlier phases of exploration and evaluation, while Saudi Arabia also has plans for domestic shale...
  • OPEC, Get Ready For The Second U.S. Oil Boom

    07/14/2015 9:46:17 AM PDT · by bananaman22 · 15 replies
    Oilprice.com ^ | 14-07-2015 | shale 2.0
    What OPEC countries fear most is a follow-up technological revolution that will lead to a second oil boom in the U.S., and that fear is now being realized. A technological revolution spurred the U.S. oil boom that resulted in the greatest increase in domestic oil production in a century, and while that has stuttered in the face of a major oil price slump and an OPEC campaign to maintain a grip on market share, the American response could be another technological revolution that demonstrates that the first one was merely an impressive embryonic experiment. Its not only about shale nowits...
  • Current Oil Price Slump Far From Over

    06/30/2015 10:32:51 AM PDT · by bananaman22 · 17 replies
    Oilprice.com ^ | 30-06-2015 | Arthur
    The oil price collapse of 2014-2015 began one year ago this month (Figure 1). The world crossed a boundary in which prices are not only lower now but will probably remain lower for some time. It represents a phase change like when water turns into ice: the composition is the same as before but the physical state and governing laws are different.* For oil prices, the phase change was caused mostly by the growth of a new source of supply from unconventional, expensive oil. Expensive oil made sense only because of the longest period ever of high oil prices in...
  • Shale 2.0:Technology and the Coming Big-Data Revolution in Americas Shale Oil Fields

    06/20/2015 8:10:08 AM PDT · by bestintxas · 13 replies
    Manhattan Institute ^ | 5/16/15 | Mark P. Mills
    With petroleum prices down 50 percent over the past year, many analysts and pundits are predicting the end of Americas shale oil boom. Recent headlines include: Oil Price Fall Forces North Dakota to Consider Austerity (New York Times);[1] Oil Price Drop Hurts Spending on Business Investments (Wall Street Journal);[2] The American Oil Boom Wont Last Long at $65 per Barrel (Bloomberg Business);[3] and The Shale Oil Revolution Is in Danger (Fortune)[4]. High prices, shale skeptics argue, created a bubble of activity in unsustainably expensive shale fields. As shale-related businesses contract, consolidate, and adjust to the new price regime, a major...
  • Why The Oil Rally May Well Be Over

    06/17/2015 10:58:45 AM PDT · by bananaman22 · 12 replies
    Oilprice.com ^ | 17-06-2015 | Pricepoints
    The oil markets could be about to enter another round of soft prices. The OPEC decision on June 5 to leave its collective target unchanged was widely expected. As a result, oil prices barely flinched. But there are other reasons to think that oil prices could see a bit of a downturn in the coming weeks. First, OPEC revealed in its latest monthly oil report that it is still producing well above its stated 30 million barrel per day target. Saudi Arabias output inched up another 25,000 barrels per day in May from the month before in a further sign...
  • Oil Prices To Remain Capped In The Short Term, Despite Fewer Shale Oil Barrels

    06/10/2015 8:28:47 AM PDT · by thackney · 14 replies
    Forbes ^ | 6/10/2015 | Trefis Team
    The most recent Drilling Productivity Report from the U.S. Energy Information Administration reveals that the phased impact of lower oil prices on U.S. tight oil production growth, is finally starting to show up and is expected to increase in magnitude over the next couple of months. The agency estimates crude oil production from the seven key regions in the Lower 48 states to have declined by around 44,000 barrels per day, or 0.8% month-on-month in May, and expects the decline rate to increase to around 91,000 barrels per day, or 1.7% month-on-month by July of this year. According to the...
  • Concerns Over Earthquakes Spread To Texas

    06/08/2015 11:37:23 AM PDT · by bananaman22 · 17 replies
    Oilprice.com ^ | 08-06-2015 | quAKE3
    The connection between wastewater injection wells and an alarming increase in the frequency of earthquakes is getting a lot more scrutiny these days. First was Oklahoma, which has suddenly become the earthquake capital of the United States. The number of earthquakes with a magnitude of 3.0 or higher more than quadrupled between 2013 and 2014 in the state. The culprit? Scientists are becoming more confident that the injection of wastewater into disposal wells causes fault lines to slip, contributing to the likelihood of an earthquake. The issue has become highly contentious in Oklahoma. But now the controversy has spread to...
  • 'No shale gas revolution in Europe'

    06/03/2015 1:58:14 PM PDT · by 2ndDivisionVet · 5 replies
    The British Broadcasting Corporation ^ | June 3, 2015 | Richard Anderson, business reporter
    There will be no US-style shale gas revolution in Europe, the president of the International Gas Union (IGU) has told the BBC."You cannot duplicate [the US experience] in Europe," said Jerome Ferrier. "Politicians are hesitating to accept shale development." Abundant shale gas in the US has helped domestic energy prices fall. As a result some European governments, not least the UK, are keen to develop their own shale resources. Mr Ferrier's comments come a day after a number of major energy firms called for a working price of carbon. Carbon pricing The IGU president, talking to the BBC at the...
  • Shale tech could squeeze 141 billion barrels from oil fields outside the US

    05/15/2015 10:14:51 AM PDT · by thackney · 15 replies
    Fuel Fix ^ | May 14, 2015 | Collin Eaton
    Adapting the technology that powered the shale oil boom in Texas to the deserts of Saudi Arabia and elsewhere could produce 141 billion barrels of crude, research firm IHS said Thursday. Horizontal drilling and hydraulic fracturing, alongside other technological breakthroughs in recent years, could pump that much oil out of 170 older, largely unproductive fields around the world, from the Middle East to Latin America to Russia. In its initial assessment, IHS found 96 percent of the oil that could be recovered from those fields would have to be released using hydraulic fracturing, a process of blasting water, sand and...
  • Shale-Oil Producers Ready to Raise Production

    05/13/2015 3:38:49 PM PDT · by abb · 7 replies
    The Wall Street Journal ^ | May 13, 2015 | Georgi Kantchev and Bill Spindle
    After slashing production for months, U.S. shale-oil companies say they are ready to bring rigs back into service, setting up the first big test of their ability to quickly react to rising crude prices. Last week, EOG Resources Inc. said it would ramp up output if U.S. prices hold at recent levels, while Occidental Petroleum Corp. boosted planned production for the year. Other drillers said they would open the taps if U.S. benchmark West Texas Intermediate reaches $70 a barrel. WTI settled at $60.50 Wednesday, while global benchmark Brent settled at $66.81. An increase in U.S. production, coupled with rising...
  • Saudi Arabia Continues To Turn Screws On U.S. Shale

    05/13/2015 11:50:03 AM PDT · by Opintel · 16 replies
    Oilprice.com ^ | 13-05-2015 | ShaleDefender
    Saudi Arabia continues to ratchet up production, taking market share away from U.S. shale producers. According to OPECs latest monthly oil report, Saudi Arabia boosted its oil output to 10.31 million barrels per day in April, a slight increase over the previous months total of 10.29 million barrels. That was enough for the de facto OPEC leader to claim its highest oil production level in more than three decades. Saudi Arabia has increased production by 700,000 barrels per day since the fourth quarter of 2014 in an effort maintain market share. The resulting crash in oil prices is forcing some...
  • Low crude prices may thin, but not kill, US production, speakers say

    05/13/2015 5:42:31 AM PDT · by thackney · 5 replies
    Oil Gas Journal ^ | 05/12/2015 | Nick Snow
    Overseas competitors who were caught off-guard initially by rising US unconventional crude oil production have increased their own outputs now and can be expected to try and keep prices low to protect their global market shares, speakers at a May 12 Atlantic Council discussion said. That could make marginal US unconventional properties uneconomic, but wont threaten the new US position as a major producing nation, they agreed. Were entering a phase when all the excess capacity will be resized to the new US world market share, said Subash Chandra, managing director and senior equity analyst at Guggenheim Partners. I dont...
  • OFFSHORE VS. SHALE, Which will prevail in the long-term?

    04/28/2015 5:04:30 AM PDT · by thackney · 12 replies
    Rystad Energy via Oil Gas Financial Journal ^ | April 9, 2015 | Per Magnus Nysveen and Leslie Wei
    As a response to lower oil prices, E&P companies have guided considerable cuts in their 2015 investment budgets. Preliminary budgets indicate a ~20% drop in global E&P investments this year, with shale declining the most. Observing historical trends, Figure 1 shows global investments for offshore and shale oil and gas. During the past decade, offshore investments have increased from ~ US$150 billion in 2005 to ~ US$360 billion in 2014. The growth in offshore investments is a combination of higher activity and higher unit costs (i.e., rig rates). Also over the last 10 years, shale activity accelerated as horizontal hydraulic...
  • IHS CERA 2015: Resilient Marcellus gas drillers are the 'problem': E&P executive

    04/24/2015 6:03:02 AM PDT · by thackney · 17 replies
    Platts ^ | 22 Apr 2015 | Arjun Sreekumar
    Major improvements by natural gas exploration-and-production companies have allowed them to continue to drill profitably in a period of depressed prices, adding to the glut of gas and putting further pressure on prices, an E&P executive said Wednesday at the IHS CERAWeek conference in Houston. "What's happening is that we continue to get better and get more production per rig," Kyle Mork, president of Energy Corporation of America, said in reference to the seeming paradox of growing US natural gas production despite a record low level of rigs. "We're the problem," he said. It is common knowledge in the industry...
  • Oil Price War May Benefit Both US Shale And Saudi Arabia

    04/22/2015 12:13:53 PM PDT · by bananaman22 · 5 replies
    Oilprice.com ^ | 22-04-2015 | James Stafford
    Oil Price War May Benefit Both US Shale And Saudi Arabia
  • CERAWeek: Oil chiefs explain why U.S. shale boom hasnt gone global

    04/22/2015 4:37:25 AM PDT · by thackney · 3 replies
    Fuel Fix ^ | April 22, 2015 | Collin Eaton
    Has billionaire oil man Harold Hamm ever been tempted to take the U.S. shale revolution abroad and expand his oil empire from North Dakota to the rest of the world? I have not, Hamm told a gathering of energy executives Tuesday. The question had come from Daniel Yergin, vice chairman of IHS. Hamm, CEO of Continental Resources, one of the biggest oil producers in the Bakken Shale, was one of three oil-company chief executives speaking from the stage during a panel at the IHS CERAWeek energy conference at the Hilton Americas-Houston. So why havent U.S. shale producers tried to tap...
  • Upstart Siluria Technologies Turns Shale Gas Into Plastics And Gasoline

    04/20/2015 5:29:34 AM PDT · by thackney · 14 replies
    Forbes ^ | 4/14/2015 | Christopher Helman
    Siluria Technologies new ethylene plant is a 4-story-tall maze of pipes and valves and pressure vessels. If it were a standalone plant it might be impressive. But this one is tucked in among dozens of giant petrochemical complexes along the Houston Ship Channel and situated within a larger polypropylene site operated by Brazilian chemicals giant Braskem So how does this facility stand out? Because its unique. All the rest of the worlds ethylene is made the old-fashioned way: by breaking apart larger hydrocarbons such as naphtha (sourced from crude oil) or ethane (found in natural gas). In contrast, Silurias technology...
  • New maps highlight geologic characteristics of U.S. tight oil, shale plays

    04/17/2015 5:25:39 AM PDT · by thackney · 15 replies
    Energy Information Administration ^ | APRIL 17, 2015 | Energy Information Administration
    EIA is currently in the process of updating maps of major tight oil and shale gas plays, including the Eagle Ford and Marcellus plays, which will help to better characterize the geology of key areas of production in the United States. EIA's most recent maps focus on shale and tight oil plays, and characterize plays based on geologic characteristics, including rock type and age. Understanding geologic history and processes helps exploration and production companies reduce the risk of drilling dry, nonproducing wells and better understand hydrocarbon resource potentials. Production of crude oil and natural gas occurs in two classes of...
  • State Energy Expert Predicts $1.60-Per-Gallon Gas

    04/07/2015 8:27:21 AM PDT · by Perkinsbob54 · 42 replies
    Roswell Daily Record ^ | 4/7/15 | Jeff Tucker
    ROSWELL Gasoline prices in New Mexico could drop to as low as $1.60 a gallon this year as the United States and the Organization of Petroleum Exporting Countries engage in an outgoing crude oil price war, an expert told the New Mexico Landmens Association on March 27. Dr. Daniel Fine, associate director of the New Mexico Center for Energy Policy at New Mexico Institute of Mining and Technology, said at the landmens associations monthly meeting recently that crude oil storage in the United States is at a near maximum, meaning it will be some time before crude oil prices...
  • New Regs Ignore Fact Fracking Doesn't Taint Well Water

    04/02/2015 9:03:55 AM PDT · by raptor22 · 7 replies
    Investor's Business Daily ^ | April 2, 2015 | IBD EDITORIALS
    Energy: New federal regulations on fracking on public land ignore a study documenting that methane found in well water is unrelated to the location of hydraulically fractured oil and gas wells. When the Obama administration recently released its new regulations on fracking regulations that it said were needed to keep up with the advance and success of the decades-old technology to meet public safety needs the Independent Petroleum Association of America and Western Energy Alliance immediately filed suit, saying that the new regs were based on "unsubstantiated concerns" that lacked any scientific basis. "Hydraulic fracturing has been conducted...
  • The Shale Debt Redux

    03/27/2015 5:06:49 AM PDT · by thackney · 8 replies
    The Energy Collective ^ | March 26, 2015 | Deborah Lawrence
    Shale debt, falling prices and slack demand has tight oil producers in trouble. And yet, there is still burgeoning production. Why? Well, weve seen this before. Its the shale debt redux. Operators did it a few years ago in natural gas and prices have yet to recover. Unfortunately cheap money in the form of debt can mean poor investment choices for businesses and for investors. But it can also lead to an aberrant market because operators deep in debt wont curtail production even though it is glutted. Debt coupons simply have to be met. The shale revolution has always been...
  • Saudi Arabia Looks To U.S. To Develop Shale Deposits

    03/24/2015 4:59:25 AM PDT · by thackney · 20 replies
    Manufacturing Business Technology ^ | 03/19/2015 | Andy Szal
    The boom in U.S. oil production over the past decade led thousands of workers to prairie cities from Texas to North Dakota. Now, Saudi Arabia hopes those workersmany of them casualties of the ongoing downturn in crude priceswill consider the deserts of the Middle East instead. Saudi Arabia has a long history of recruiting skilled workers from the West to develop its vast oil reserves. The country, however, also possesses shale oil deposits, and observers say the current oil market provides an opportunity for the Saudis to begin developing those resources. With the layoffs, its a great time to do...
  • Gary Shilling Says Oil Is Going To $10

    02/21/2015 10:06:40 PM PST · by blam · 31 replies
    BI ^ | 2-22-2015 | Shane Ferro
    Shane Ferro February. 17, 2015Gary Shilling thinks the price of oil is going way lower. The economist and financial analyst wrote an op-ed for Bloomberg View discussing the various reasons why he thinks the price could get down to $10-20 per barrel. Basically, supply keeps increasing while demand is shrinking. Here's an excerpt that pretty clearly lays it out: U.S. crude oil production is forecast to rise by 300,000 barrels a day during the next year from 9.1 million now. Sure, the drilling rig count is falling, but its the inefficient rigs that are being idled, not the horizontal rigs...