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Permian Basin oil production outstrips the Eagle Ford The Permian Basin is out-producing the Eagle Ford Shale in terms of crude oil production. The Permian Basin is out-producing the Eagle Ford Shale in terms of crude oil production. The Eagle Ford may be at the top of San Antonians’ minds when it comes to oil and gas activity, but crude production in West Texas is now outpacing the shale to our south. From January to June, West Texas’ Permian Basin pumped out 889,808 barrels per day (bpd) of oil, passing up the Eagle Ford’s 598,706 bpd output, according to Texas...

Eagle Ford, Permian Basin on Target to Surpass 2 MMbopd in 2013 Texas oil production from just two fields, the Eagle Ford shale and the Permian Basin, is likely to total well over 2 million barrels of oil per day (MMbopd) this year, if recent output trends continue, and could approach 2.5 MMbopd sometime in 2014, according to analysts. The Eagle Ford has been front and center in energy news, and has stolen some of the limelight from the Permian Basin. However, horizontal drilling and hydraulic fracturing have rejuvenated production in the Permian Basin in recent years, and many of...

SAN ANTONIO, Texas — Eagle Ford Shale oil production is expected to reach 1 million barrels per day next summer — and keep growing as operators add tens of thousands of more wells to the giant South Texas field. “This is a huge oil producer,” said Subash Chandra, a managing director and at the investment banking firm Jefferies & Co. He spoke Wednesday to more than 4,000 people attending Hart Energy’s third annual DUG Eagle Ford Conference at the Convention Center. More than 11,100 wells have been permitted in the Eagle Ford since 2008, but the research firm DrillingInfo estimates...

Drilling beyond the Eagle Ford Shale Southwest Research Institute is running training field trips where geologists from oil and gas companies look at places where the Eagle Ford is exposed at the surface. This photo shows a road cut exposure along U.S. Highway 90 west of Del Rio, where the formation is known as the Boquillas. The contrast of colors in the rock is a result of variable weathering patterns.(Southwest Research Institute) The Eagle Ford Shale is more than just the Eagle Ford. Operators in South Texas are drilling into other rock formations, taking horizontal turns — and in some...

Far below the surface of the promised land, a hidden treasure lies. If it can be carefully liberated from the geological layer in which it is caught, it promises nothing less than to transform Israel’s economy. It is called oil shale. And, along with Jordan, Israel just so happens to sit upon the world’s second largest deposits of the stuff. Oil shale deposits are overwhelmingly located outside conventional oil-rich areas such as the Middle East and North Africa. So if safe, economic processes for extracting this alternative oil resource can be put into effect, dependence on the energy-exporting Middle East...

Unsurprisingly, oil prices are up in reaction to the Syrian mess. It’s worth keeping in mind that President Putin is at the top of the list of world leaders who benefit from this. The linkage between oil prices and Russia’s revenues cannot be ignored in calibrating what has, and may happen yet in the Middle East. Hydrocarbons account for two-thirds of Russian export revenues and nearly half of its state budget. And until very recently just two regions, Russia and the Middle East, dominated world trade in oil and gas. Russia has regularly boasted of being an “energy superpower”. Indeed...

We are all, I know, just marking time until the Oprah Winfrey interview with Lindsay Lohan takes place. So let us while away the tedious, meaningless hours by talking about fracking. This, as I'm sure you are aware unless you have elected to move to the bunker early (possibly when the Winfrey-Lohan news broke), is the process of drilling holes in the ground and forcing water down them at such high pressure that it fractures the shale rock beneath, releasing gas. They do it a lot in America and David Cameron wants to do it here – starting with West...

Energy: A Saudi prince has warned that his oil-reliant nation is under threat because of fracking technology being developed in the U.S. and spreading around the world. OPEC is now caught between Riyadh and a hard place. Indicative of the panic rippling through the Organization of Petroleum Exporting Countries over the U.S.-led fracking boom, billionaire Saudi Prince Alwaleed bin Talal says his Gulf Arab kingdom needs to reduce its reliance on crude oil and diversify its revenues, lest the era of gold-plated toilets come to an end. In an open letter to his country's oil minister Ali al-Naimi and other...

A Saudi prince has warned that his oil-reliant nation is under threat because of fracking technology being developed elsewhere around the world.Billionaire Prince Alwaleed bin Talal said the Gulf Arab kingdom needed to reduce its reliance on crude oil and diversify its revenues. His warning comes as rising shale energy supplies in the United States cut global demand for Saudi oil. In an open letter to his country's oil minister Ali al Naimi and other government heads, published on Sunday via his Twitter account, Prince Alwaleed said demand for oil from Organisation of the Petroleum Exporting Countries (Opec) member states...

Billionaire Saudi Prince Alwaleed bin Talal has warned shale oil and gas development poses a threat to the kingdom's economy, the Wall Street Journal's Summer Said reports. In an open letter to Saudi oil minister Ali al Naimi [in Arabic], Alwaleed also warns the kingdom must diversify its revenue streams in the face of flagging oil demand. A source translated the key portion of the note: With all due respect to your Highness’ viewpoint about shale gas and that it poses no danger on Saudi economy at ‘the present time’, I was hoping that your Highness would also shed light...

Linc Energy claims to have found rock formations containing more than $20 trillion worth of oil Brisbane company Linc Energy says independent studies have confirmed a major shale oil source in South Australia's far north, which officials have estimated could be worth $20 trillion. The company says U.S. consultants have carried out drilling and geological and seismic surveys around Coober Pedy. Linc Energy holds rights over more than 65,000 square kilometres of land in the Arckaringa Basin and started explorations in 2008. In a statement to the Stock Exchange, the company said reports from U.S.-based consultants indicate underlying rock formations...

July 02, 2013 Harvard has a new US Shale Oil Study forecasts US as world number one oil producer with 16 million barrels per day of all liquid oil in 2017 Email ThisBlogThis!Share to TwitterShare to Facebook In a paper titled “The Shale Oil Boom: A U.S. Phenomenon,” [64 pages] Maugeri wrote that the unique characteristics of shale oil production are ideal for the United States -- and unlikely to be mirrored elsewhere in the world. These factors include the availability of drilling rigs, and the entrepreneurial nature of the American exploration and production industry, both critical for the thousands...

A report has revealed that 2012 saw the largest single-year increase in US oil production ever recorded. US production grew due to an increase in techniques such as fracking, a method for extracting shale oil and gas, the report by oil giant BP said. Overall, global energy consumption grew by 1.8% in 2012, a smaller increase than in 2011. China and India accounted for almost 90% of that growth.

For frack fans out there. Russia rules the roost on shale, but those reserves are useless until it learns how to pull that stuff out of the rock.

<p>AUVERE, Estonia (AP) - Home to the creators of Skype and the first country to use online voting, Estonia relishes its image as a technological pioneer. But the tiny East European country's most far-reaching economic achievement could come from how it has learned to squeeze oil from a rock.</p>

Shale oil production could revolutionize global energy markets, reducing oil prices and bolstering the economy globally, but its impact will vary on a country-by-country basis. After witnessing the impact that the U.S. shale boom has had worldwide, PwC decided to examine how the development of shale oil worldwide might impact oil prices and the economy worldwide, said Adam Lyons, director of PwC and co-author of PwC's global report, "Shale Oil – the Next Energy Revolution". "Shale oil is on the same journey as shale gas," said Lyons, who discussed the study's findings at a World Affairs Council event on the...

The shale revolution hit America and the world with such speed and suddenness that it surprised almost everyone—investors, businessmen, economists and politicians. Soon the implications of this dramatic development seeped into the national consciousness and spread optimism that the United States could ride it to a wave of prosperity. And the new techniques for extracting "unconventional" oil and gas from shale rock, which America possesses in such abundance, do indeed pose prospects for an economic boom. They also pose prospects for changes in the defense posture of many nations. Anything of value that a nation possesses must be protected, and...

SWEETWATER — About a year ago, talk began circulating in this West Texas town about a huge oil-producing formation called the Cline Shale, east of the traditional drilling areas around Midland. Then the oilmen and their rigs arrived. Now homes and hotels are sprouting, “help wanted” signs have multiplied, and a major drilling company has cleared land to build an office and equipment yard. “It is coming, and it is big,” said Greg Wortham, the mayor of Sweetwater, who also serves as executive director of the Cline Shale Alliance, a new economic development group. The Cline Shale, thousands of feet...

Development of California's Monterey shale formation can play the major role in the state's future economic well-being, noted a recent study, "Powering California: The Monterey Shale and California's Economic Future", released by the University of Southern California (USC) and Los Angeles-based think tank Communications Institute. California's Monterey shale is estimated to hold 15 billion barrels of oil and development of the 1,750-square mile formation in central California could generate half a million new jobs by 2015 and 2.5 million jobs by 2020. "This report provides an indication that there is one potential bright spot in California's economic future: the increased...

WILLISTON, N.D. — — He dropped out of north suburban Richmond-Burton Community High School, and a few years later Andy Turco found himself staining decks in the summer, plowing snow in the winter and going without work for a month or two in between. Nearly homeless, he saw himself on a dead-end path. Then he talked to a buddy working here, in a barren corner of North Dakota, where an ugly-sounding word — fracking — has driven oil from the ground and pushed unemployment down to 0.7 percent. That's right: seven-tenths of one percent. Turco sold his car, hopped in...