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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...

Is the Utica Shale Really a World-Class Energy Asset? By Matt DiLallo |May 25, 2014 | Photo credit: Chesapeake Energy  Last week at its Analyst Day Chesapeake Energy (NYSE: CHK  ) unveiled the Utica Shale as its next world-class asset. That's in stark contrast to what Halcon Resources (NYSE: HK  ) thinks about the play, as it has virtually abandoned its efforts to develop its Utica Shale acreage. It's divergent opinions like these that make it tough for investors to determine who to believe when it comes to the Utica Shale.Chesapeake Energy's advantageChesapeake Energy already has a long history in the Utica...

The Jaw-Dropping Potential in This American Oil Patch Could Change the World By Tyler Crowe |May 24, 2014 | It may not look like much, but this might be the biggest oil field in the world (Source: Devon Energy Media Resources).The pride and joy of Saudi Arabia's oil industry has been the Ghawar oil field, which has been recognized as the largest in the world ever since its discovery in 1948. That is, perhaps, until now. A shale oil formation deep beneath the plains of West Texas has been sitting right under our noses for years, and Pioneer Natural Resources (NYSE: PXD  )...

   US Oil Production Booms While OPEC Flounders 12:52 PM 05/19/2014   Michael Bastasch Instability in the Middle East is posing problems for OPEC, the world’s largest oil cartel. The cartel may have trouble producing enough oil to meet demand later this year, according to energy analysts.But in the U.S., oil production continues to boom, reaching a 28-year high last week, rising 78,000 barrels per day to reach 8.428 million — close to the 1970 all-time production high of 9.6 million barrels per day.Last week, the International Energy Agency (IEA) said that while OPEC production rebounded slightly from earlier this year...

Move Over OPEC and Russia, America is in the Oil-Price Driver's Seat By Tyler Crowe | May 18, 2014 | The sun may be setting on OPEC dominance (Source: lalabell68 via pixabay.com).Want to know something that you probably haven't considered, but will absolutely blow your mind?  Since 2011, two of the world's top 25 oil-exporting nations -- Libya and Sudan -- have seen production completely fall off a cliff, Export volumes from Venezuela and Mexico have been on a slow decline for a decade, and Russia and the West are in the midst of a Cold War-esque standoff over Ukraine....

Drilling, Fracking Efficiency Fuels Oil and Gas Boom Published: March 23rd, 2014   By Bobby Magill Technological advances in drilling efficiency are one of the reasons shale oil and natural gas production continues to skyrocket in six of America’s biggest oil and natural gas fields, according to a new U.S. Energy Information Administration report.Production of crude oil and natural gas through the use of hydraulic fracturing, or fracking, is considered to have a significant effect on climate change because of methane leaks in the natural gas distribution system that haven’t been quantified yet. And, burning crude oil is a direct emitter...

Eagle Ford Shale Continues to Get BiggerBy Matt DiLallo | More Articles | Save For Later March 11, 2014 | Comments (0) Photo credit: Carrizo Oil & Gas,In addition to reporting stellar quarterly results, EOG Resources (NYSE: EOG  ) also reported a 45% surge in the company's resource potential in the Eagle Ford Shale. In the four years since the company discovered the play, it has now boosted the recovery potential of oil and gas from the Eagle Ford Shale by four-fold.Better data on previously drilled wells along with improved completion techniques have contributed to the boost. However, the real reason...

Home   >   Environmental   >   Drilling Rigs are Moving at a Furious Pace – A Look At The Boom in Maps Drilling Rigs are Moving at a Furious Pace – A Look At The Boom in Maps By adam on March 6, 2014     0   Scientific AmericanBy David WoganThe impact of domestic oil and natural gas production has seen a significant uptick in the past several years. The rush of horizontal drilling and hydraulic fracturing in “tight” shale plays around the country is largely responsible for a resurgence of U.S. oil and natural gas...

Shale, the Last Oil and Gas Train: Interview With Arthur Berman By Oilprice.com | More Articles | Save For Later March 6, 2014 | How much faith can we put in our ability to decipher all the numbers out there telling us the US is closing in on its cornering of the global oil market? There's another side to the story of the relentless US shale boom, one that says that some of the numbers are misunderstood, while others are simply preposterous. The truth of the matter is that the industry has to make such a big deal out of...

New Spy Technology To Spawn Oil Revolution Tyler Durden 02/28/2014 18:36 -0500 The future of oil exploration lies in new technology--from massive data-processing supercomputers to 4D seismic to early-phase airborne spy technology that can pinpoint prospective reservoirs. Oil and gas is getting bigger, deeper, faster and more efficient, with new technology chipping away at “peak oil” concerns. Hydraulic fracturing has caught mainstream attention, other high-tech developments in exploration and discovery have kept this ball rolling. Oil majors are second only to the US Defense Department in terms of the use of supercomputing systems, which find sweet spots for drilling based...

Must-know: US oil rig counts reached a new 2014 high of 1,423 By Ingrid Pan, CFA - Disclosure • Feb 21, 2014 2:05 pm EST • EOG • OAS • PXD • XLE • XOM Continued from Part 1: Why rig counts show a stable oil and gas drilling environmentOil rig counts increased last week to 1,423, the highest level since 2014 beganLast week, the Baker Hughes oil rig count increased from 1,416 to 1,423, the highest level since 2014 began. Oil rig counts have risen by 45 (or 3%) since the beginning of 2014, with a large part of...

The New Oil Majors by Jay Yao, The Motley Fool Feb 15th 2014 2:00PM Updated Feb 15th 2014 2:02PM It takes time to build an empire. Both ExxonMobil and Chevron, the U.S. super-majors of today, trace their history back to the ultimate corporate empire: John D. Rockefeller's Standard Oil, - which was founded more than a century ago. Unlike asset-light technology companies that can grow quickly, the oil industry is notoriously capital intensive. Because they require so much capital, oil companies generally grow at a slower rate. Most of the large oil fields that can turn wildcatters into giant oil...

Oil futures closed back $100-a-barrel level on Wednesday, after Chinese data showed record oil imports for January and key oil producers raised their forecast on global demand growth for the year, but a bigger-than-expected rise in crude supplies kept price gains in check.

Why Independent Producers Are Vastly Outpacing Big Oil by David Smith, The Motley Fool Feb 8th 2014 2:00PMUpdated Feb 8th 2014 2:02PM Energy investors have effectively reached an earnings season tipping point, with the majors having told us about their fourth-quarter and full-year results and most of the independents still preparing to do so. While I obviously can't predict with absolute certainty the impending announcements from the likes of and Whiting Petroleum , they're likely to outstrip those that we've already received from ExxonMobil, Chevron , and Royal Dutch Shell .As for the weaknesses displayed by the majors during...

EIA: Global oil demand to rise 1.2 million b/d in 2014 01/13/2014 Global liquid fuels consumption is forecast to increase by 1.2 million b/d in 2014 and by another 1.4 million b/d in 2015, according to the US Energy Information Administration's Short-Term Energy Outlook (STEO), released this month. Countries outside of the Organization for Economic Cooperation and Development, led by China, account for nearly all consumption growth over the forecast period, EIA said. OECD consumption is expected to decline by 0.1 million b/d in 2014 and remain flat in 2015. EIA forecasts OPEC crude oil production to decline by 0.5...

U.S. Demand For Oil Rose 4-5 Percent In 2013, Startling Analysts   By John Voelcker 963 views Jan 23, 2014 23 Comments Oil well (photo by John Hill) With increasing energy efficiency in cars, homes, and industry, plus a surge in domestic natural-gas production, U.S. demand for oil is widely said to have tapered off and in fact begun a structural decline.Except that, as it turns out, last year it seems U.S. demand for oil actually rose by 390,000 barrels per day, according to the International Energy Agency.That represented fully one-third of the total global increase in demand.An article in...

OIL production in the United States rose by a record 992,000 barrels a day in 2013, the International Energy Agency estimated this week.

Shocking Prediction: Part II - The 'Second Phase' Of The Oil Boom Could Eclipse The First By Jody Chudley January 07, 2014   Last week, I told you about how the "second phase" of the oil boom could make the first phase look like small potatoes (you can read the article here).At the end of my article, I mentioned that if the price of oil drops below $70 per barrel, horizontal drilling plays could see their margins shrink considerably, along with investment returns.I know a lot of oil investors are worried about that potential outcome, so I wanted to write...

The developed world is slowly emerging from the Great Recession, but a question lingers: How fast and how far will the recovery go? One big source of pessimism has been the idea that we are running out of investment opportunities – and have been since before the 2008 crash. But is that true? The last big surge of innovation was the Internet revolution, whose products came onstream in the 1990s. Following the dot-com collapse of the early 2000s, speculation in real estate and financial assets – enabled by cheap money – kept Western economies going. The post-2008 slump merely exposed...

Continental basks in shale glory The company leads production of the Bakken shale of North Dakota and Montana The US shale revolution is “the best thing going on in the world since the computer chip”, says Harold Hamm, chairman and chief executive of Continental Resources. “Look at what’s going on today, how the world’s changing. It’s the best thing for America, in my opinion, in 40 years. It’s completely transformative.” No one embodies that transformation better than Hamm. Continental, which has its origins in a company he founded back in 1967, is now the leading producer in the Bakken shale...