Category: Shale

Energy Department study: Shale won’t last, Arctic drilling needed now

In order for the U.S. to keep domestic production high and imports low, oil companies should start probing the Artic now because it takes 10 to 30 years of preparation and drilling to bring oil to market, according to a draft of the study’s executive summary obtained by the Associated Press.  More »

Frac sand exec to slumping oil producers: You’re not going to drill your way out of this

“Every so often we have to reinvent the oil industry again,” says an executive from frac-sand firm Trican Well Service.  More »

Return to $100 oil seen unlikely by Saudis amid shale surge

Brent oil, the global benchmark, declined almost 50 percent in the past year as Saudi Arabia and others in the Organization of Petroleum Exporting Countries committed to maintain output amid a global surplus.  More »

Report: Texas housing more resilient to oil prices

Texas’ real estate market should be able to weather lower oil prices better than it did in the 1980s, but if prices fall further, the results could be much more dire, a Texas A&M real estate economist says.  More »

Oil production falling in three big shale plays, EIA says

Crude production at three major U.S. shale oil fields is projected to fall this month for the first time in six years, the U.S. Energy Information Administration said Tuesday.  More »

Get ready for oil deals: shale is going on sale

Sellers will be companies handicapped by heavy debt and lacking the cash reserves or hedging contracts that would have provided some insulation from the market crash  More »

EIA: Eagle Ford production will slow in April

Oil production from the six largest shale plays in the U.S. will hit 5.6 million barrels per day in April, an increase of less than 300 barrels per day over March.  More »

Pennsylvania governor advances tougher gas drilling rules

The proposal is the first signal from Gov. Tom Wolf’s administration of how it will approach the natural gas industry after the Democrat campaigned last year on a promise to toughen state regulation of the industry.  More »

$1.1 billion in fast-track funding disbursed to North Dakota communities

Gov. Jack Dalrymple signed the bill last month at a ceremony at the state Capitol.  More »

OPEC official says oil market to return to balance later this year

OPEC Secretary-General Abdalla El-Badri also urged OPEC nations to diversify their economies, many of which rely mostly on oil revenue.  More »

Oil bust threatens mortgage-backed securities in Wall Street-funded shale towns

Wall Street analysts are poring over commercial-mortgage backed securities for signs of distress as the oil crash weighs on demand for real estate in energy hubs.  More »

Chevron pulls out of shale gas exploration in Romania

The company began drilling for shale gas at its exploration well in northeastern Romania in 2014, a project that drew protests. It is also ending its three other concessions in Romania.  More »

Fuel-hauling trains could derail at 10 a year

The federal government predicts that trains hauling crude oil or ethanol will derail an average of 10 times a year over the next two decades, causing more than $4 billion in damage and possibly killing hundreds of people if an accident happens in a den…  More »

U.S. rig count falls by 48 as market watches for signs of slowing output

This week’s count brought the number of active U.S. rigs down to 1,310, a figure that has plummeted by more than 460 compared to last year.  More »

Pioneer’s chairman and CEO: Exporting oil could equate to more jobs, production and investment

Lifting the ban now would be less painful for consumers because if gasoline prices were to rise, the increase wouldn’t be as much, Scott Sheffield said.  More »
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