Permian 3.0 shows biggest US oil field has more to give
Call it Permian, version 3.0.
shale
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."
Rig-count chaos: Shale drillers are confusing US oil analysts
Call it a rig-less recovery.
Oil fightback sets stage for another OPEC-shale battle in 2018
Oil’s revival from the biggest crash in a generation persisted, with prices set for a second annual gain after weathering everything from hurricanes and Middle East conflict to the tussle between OPEC and U.S. shale.
BNK Petroleum announces drilling and bank borrowing increase
BNK Petroleum Inc. has announced that its indirect wholly-owned subsidiary BNK Petroleum (US) Inc. has obtained an increase in its Borrowing Base to US 30,000,000 on its US 75,000,000 revolving line of credit (“credit facility”) from BOK Financial (“BOKF”).
Five oil signals to watch as 2018 pits OPEC against U.S. shale
Oil traders are going to have their work cut out in 2018.
Oil dips as OPEC deal expected to cause potential shale surge
Oil retreated amid worries that OPEC’s deal to extend production cutbacks may take U.S. shale activity to a whole new level.
Million-barrel oil hedging surge signals shale boom here to stay
Oil explorers took advantage of a market rally to lock in prices for almost 1 million barrels a day’s worth of future output, signaling the shale boom’s staying power as OPEC ponders the extension of its supply curbs.