A week later, analysts still mulling BP’s shale transaction
Almost a week after revealing plans to buy £8 billion worth of US shale assets, BP has yet to convince analysts that the deal with BHP Billiton represents value for money.
shale
Chevron and Exxon courted by fracking firm Sonatrach
Algeria’s energy industry is open for business.
Icahn expected to speed push for SandRidge sale after board win
Carl Icahn’s takeover of SandRidge Energy Inc.’s board means the shale gas explorer’s days are likely numbered.
UK Government support package won’t boost fracking industry, analysts say
A new UK Government support package for fracking won't give the shale gas industry much momentum, analysts said today.
Cuadrilla applies for injunction to stop trespassers at Lancashire shale site
Shale explorer Cuadrilla has applied for an injunction forbidding trespassing at its Preston New Road site in Lancashire.
UK Government unveils support package for fracking industry
The UK Government today unveiled a new package of support measures for shale gas developments, including the creation of a £1.6million fund.
Permian 3.0 shows biggest US oil field has more to give
Call it Permian, version 3.0.
China’s shale output to almost double by 2020, Woodmac says
Chinese shale gas production will almost double between now and 2020, energy consultancy Wood Mackenzie (Woodmac) has predicted.
Argentina to tender shale train to develop Vaca Muerta drilling
Argentina is readying a tender for a $500 million train line that could help unlock the potential of Vaca Muerta, one of the world’s biggest shale plays, Transport Minister Guillermo Dietrich said in an interview.
OPEC acknowledges scale of shale boom as supply outstrips demand
OPEC for the first time is forecasting that new oil supplies from its rivals will exceed growth in demand this year as the U.S. industry thrives.
New conventional projects can compete with US shale, Woodmac analyst says
New conventional oil projects can compete with US shale on value after three years of cost cuts and efficiency drives, an analyst said today.
U.S. drillers boost oil hedging to guarantee 2018 shale surge
U.S. shale drillers have locked in higher prices for almost half of the oil they plan to pump this year, with oil hedges climbing above the historical average as producers take advantage of $60 a barrel oil.
Corpus Christi set to become major oil export hub as shale drilling surges
As West Texas drillers pump more crude in coming years, they'll have to ship almost all of the increase in the Permian Basin's output to buyers overseas – and most of those exports will pour out of Corpus Christi in South Texas, analysts say.
Oil short-selling rears its ugly head as shale boom fears mount
Short-selling is creeping back into the oil market as fears increase that the U.S. will be awash with oil again.
Shell, Blackstone to bid for BHP’s shale division, report says
Shell and private equity firm Blackstone have agreed to make a joint takeover bid for the US shale division of BHP, the world's biggest miner, a news report said.
Total CEO says he doesn’t need Permian Basin shale to thrive
Total SA’s chief executive officer may be one of the few major oil heads who isn’t salivating over the booming Permian Basin shale oil field.
Oklahoma toughens fracking rules as earthquakes worsen
Oklahoma is tightening its rules for fracking after studying a new cluster of earthquakes in one of the hottest U.S. regions for drilling.
US to become top oil producer by 2019 at latest, IEA says
The US will soon beat Russia to the title of "world's biggest oil producer", the International Energy Agency (IEA) said, according to a news report.
Shell shows interest in BHP assets amid plans to expand in shale
Shell said it’s potentially interested in BHP Billiton’s oil assets on sale in the Permian basin in the US as it seeks to boost its role in shale.
BHP speeds up plans to exit $10bn US shale unit
BHP Billiton is accelerating plans to exit its $10 billion U.S. shale unit, flagging that deals could be announced before the end of the year.
OPEC says shale won’t thwart plan to clear glut
Surging output of U.S. shale oil won’t be a “huge distorter” of efforts by global crude producers to clear a glut, according to OPEC’s president.
Oil’s rally from worst week in two years restricted by shale fears
While oil is rebounding from its biggest weekly decline in two years, a surge in U.S. shale still looms over the market.
Can The Shale Boom Avoid These Bottlenecks?
Shale companies continue to drill at a frenzied pace, adding rigs and breaking U.S. oil production levels with each passing week. Yet, the oil production is becoming increasingly geographically concentrated. Not only is the Permian basin accounting for much of the new oil production in the U.S., but a relatively small number of counties within the Permian are home to most of that action.
Oil Below $70 as U.S. Shale Surge Looms Over Bullish Banks
Brent crude traded below $70 a barrel as the specter of expanding U.S. supply was weighed against Wall Street banks’ growing faith in a price rally.
Why is the shale industry still not profitable?
Echoing the criticism of too much hype surrounding U.S. shale from the Saudi oil minister last week, a new report finds that shale drilling is still largely not profitable. Not only that, but costs are on the rise and drillers are pursuing "irrational production."