Tag: tight oil
Natural gas production in Bakken region increases at faster rate than oil production
New targets set in 2014 to limit flaring to 10% by Oct. 1, 2020 In North Dakota’s Bakken region, the ratio of natural gas production relative to crude oil, known as the gas-oil ratio, has been gradually increasing since 2008 and has increased at a faster rate since 2014, according to the U.S. Energy Information Administration. […]
When will American shale oil make money? Maybe by 2020, says Wood Mackenzie
Tight oil most attractive investment theme in the global industry – Wood Mackenzie Tight oil profitability has been the focus of much debate since the oil price collapse of 2014. Its ability to scale down and up quickly and break even at low price points has made the Permian the star of the show for investors, […]
Asian investors ignoring US shale oil at their peril – Wood Mackenzie
Fast-moving Lower 48 market problematic for Asian companies with long lead-times for decision-making Asia’s upstream players have been notably absent from the Permania that has dominated M&A markets over the last 12 months. Industry consultancy Wood Mackenzie believes this might be set to change. Asia’s oil and gas production will fall by 20 per cent over the next […]
Tight oil expected to make up most of US oil production increase through 2040
Projected oil production in US sensitive to path of world oil prices EIA’s recently released Annual Energy Outlook 2017 (AEO2017) Reference case projects that US tight oil production will increase to more than 6 million b/d in the coming decade, making up most of total US oil production. After 2026, tight oil production remains relatively constant through […]
Major US tight oil-producing states expected to drive production gains through 2018
In 2016, Permian production averaged 2.0 million b/d, a 5% increase from the level in 2015 In EIA’s Jan. Short-Term Energy Outlook, US crude oil production is forecast to increase from an average of 8.9 million b/d in 2016 to an average of 9.3 million b/d in 2018, primarily as a result of gains in the […]
World tight oil production to more than double from 2015 to 2040
US tight oil production reached 4.6 million b/d in March 2015 but fell to 4.1 million b/d in June World tight oil production is expected to more than double between 2015 and 2040, increasing from 4.98 million b/d in 2015 to 10.36 million b/d in 2040, according to the US Energy Information Administration’s International Energy Outlook […]
Permian Basin: Big potential for unconventional technologies to boost shale recovery
“Tight conventional plays in Texas, including Permian Basin and Eagle Ford fairway, also fared well, in terms of potential for redevelopment,” said Trammel. HOUSTON – A new study indicates there is significant upside potential for US oil and gas operators to apply lower-cost unconventional drilling and completion technologies to boost production from tight conventional reservoirs, according […]
Oil industry drives down global cost curve; Permian Basin is biggest winner
Big winners are operators in key tight oil growth plays such as Permian Basin, Mid-Continent HOUSTON – The collapse in oil prices in 2014 left many planned oil investments with high costs and not commercially viable. Two years on, and the industry has started to adapt to lower oil prices, cutting costs, and getting more projects […]
Wells drilled since start of 2014 provided nearly half of Lower 48 oil production in 2015
Oil production from wells drilled has so far been able to keep U.S. crude oil production from falling significantly below its level in late 2014 According to the EIA, U.S. crude oil production from the Lower 48 states from new wells (drilled since the start of 2014) made up 48 per cent of total U.S. crude oil production […]
United States, a global powerhouse in shale oil
US ranked 2nd globally after Russia for shale oil resources, 4th after China, Argentina and Algeria for shale natural gas Over the past decade, the combination of horizontal drilling and hydraulic fracturing has provided access to large volumes of oil and natural gas that were previously uneconomic to produce from low permeability geological formations composed of shale, sandstone, […]
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