Tag: tight oil

China seen overtaking U.S. as world’s biggest oil user

Growth in oil demand to 2040 will also be driven by India, Southeast Asia, the Middle East and sub-Saharan Africa, the IEA said.  More »

Water resources a problem for energy extraction worldwide, report finds

According to the analysis by the World Resources Institute, 38 percent of the earth’s shale gas and tight oil resources are in areas that are either arid or under high levels of water stress already _ a scenario that does not mesh with the high water demands of today’s extraction techniques.  More »

Coming soon to a country near you: The US frac phenomenon

The United States’ monopoly on pulling oil and gas out of ultra-dense rock formations is ending, as companies aim to replicate the success in other countries, energy analysts said Tuesday.  More »

IEA: Unconventional oil revolution to spread beyond North America by 2019

The surge in oil and production from unconventional sources will likely spread beyond North America by the end of the decade, according to a study published Tuesday by the International Energy Agency.  More »

US now pumping 10 percent of the world’s crude

The United States accounted for 10 percent of world crude oil production in the fourth quarter, with oil from unconventional tight rock operations accounting for almost half of the crude American wells produced.  More »

Study: Tight oil still profitable even if crude prices plummet

Even if global oil prices fell more than $30 per barrel, the overwhelmingly majority of U.S. tight oil production would still be profitable, analysts with Wood Mackenzie said Tuesday.  More »

Don’t expect international shale boom quite yet, experts say

While tight oil plays in the U.S. are booming, reproducing that success abroad could be challenging for American companies, energy executives and analysts said Tuesday.  More »

ConocoPhillips CEO calls for removing crude oil export ban

Removing the current ban on crude oil exports would lower consumer prices and stimulate further tight oil production, the chief executive officer of ConocoPhillips said at an energy conference Tuesday morning.  More »

Report: Eagle Ford and Bakken are fastest-growing producers

Drilling hotbeds in South Texas and North Dakota are responsible for most of the U.S. oil production growth over the past month, according to a report issued Tuesday.  More »

Maugeri Misses Bakken ”Red Queen”

In this post I will, amongst other things, present the results from my review of the Bakken portion of Leonardo Maugeri’s discussion paper “The Shale Oil Boom: A U.S. Phenomenon” Leonardo Maugeri is an ex-ENI executive now with the Harvard Kenne…  More »

US oil and gas will surge for years, firm projects

Eagle Ford Shale production will jump 50 percent this year, hitting an average 844,000 barrels per day, according to an analysis by research and consulting firm Wood Mackenzie.  More »

Will the Bakken “Red Queen” Have to Run Faster?

This post is an update and continued expansion to my previous posts about tight/shale oil in Bakken/Three Forks in North Dakota (ND): Is Shale Oil Production from Bakken Headed for a Run with “The Red Queen”? Is the Typical NDIC Bakken Tight Oil We…  More »

EIA: US daily crude supply could surge to 10M barrels by 2040

Domestic oil production could reach more than 10 million barrels per day by 2040, with nearly half of these supplies coming from unconventional plays, according to a government report released Friday.  More »

Is the Typical NDIC Bakken Tight Oil Well a Sales Pitch?

In this post I present the results from dynamic simulations using the typical tight oil well for the Bakken as recently presented by the North Dakota Industrial Commission (NDIC), together with the “2011 average” well as defined from actual product…  More »

Tight oil will spread globally, but slowly

Mike Bahorich, executive vice president and chief technology officer at Apache Corp., noted that diesel is still the dominant fuel for high horsepower engines, which drive operations at drilling sites.  More »
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