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tight oil

From left to right: Hess Corp. CEO John Hess, Pioneer Natural Resources CEO Scott Sheffield and Continental Resources CEO Harold Hamm at the 2015 IHS CERAWeek conference in Houston. (Joshua Cain/Houston Chronicle).

CERAWeek: To grow production tomorrow, focus on diversifying today

Oil producers focusing on dense U.S. rock formations must diversify their portfolios for long-term growth, but that’s a big challenge amid low crude prices.
Patrick Pouyanné, CEO of French oil company Total, speaks at the IHS Energy CERAWeek in Houston. (Billy Smith II / Houston Chronicle)

CERAWeek: Total CEO not eyeing U.S. unconventionals

The factory drilling that marks unconventional oil and gas development requires a totally different business model and skill set than traditional plays, Total’s CEO said.
A driver refuels her car at a gas station of PetroChina, a subsidiary of CNPC (China National Petroleum Corporation), in Luoyang city, central China's Henan province, 19 August 2014. (File, Bloomberg)

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.
(Source/World Resources Institute)

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.
Pictured is a hydraulic fracturing operation in the Permian Basin that took place on Oct. 1, 2012. Apache is an active driller in the Permian Basin and during the quarter averaged 35 rigs drilling 201 wells of which 26 were horizontal. (Apache)

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.
(Image: Fotolia)

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.
(Eddie Seal/Bloomberg)

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.
(AP Photo/Hasan Jamali)

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.
Tim Probert, Strategic Advisor to the CEO in Halliburton, speaks at the CERAWeek energy conference in Houston on March 4, 2014. ( Mayra Beltran / Houston Chronicle )

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.
ConocoPhillips CEO Ryan Lance speaks at the Deloitte Oil & Gas Conference in Houston on November 19, 2013. (Emily Pickrell/Houston Chronicle)

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.