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Tag Archives: shale oil
Rig Count Data Shows Gulf States Cranking Up Pressure On The U.S.
Rig Count Data Shows Gulf States Cranking Up Pressure On The U.S. The global rig count statistics published by Baker Hughes provide a crucial industry activity indicator and some of the most up to date industry statistics available. This is a short report updating international statistics to March 2015 and US statistics to 10 April 2015. Figure […]
Why The Oil Price Collapse Is U.S. Shale’s Fault
Why The Oil Price Collapse Is U.S. Shale’s Fault The present oil price collapse is because of over-production of expensive tight oil. The collapse occurred because of the inability of the world market to support the cost of the new expensive oil supply from shale, oil sands and deep water. Demand was progressively destroyed during […]
Who’s To Blame For The Oil Price Crash?
Who’s To Blame For The Oil Price Crash? When we think of the recent drop in oil prices, the question is not only who started it, but who’s responsible for keeping the prices falling. Probably no one would dispute that the price plunge began with the eager and copious production of oil from shale formations […]
This Is What Will Determine If Oil Prices Go Up Or Down
This Is What Will Determine If Oil Prices Go Up Or Down It appears as if oil prices could be on the verge of a rebound, with new data showing that the U.S. oil patch is hitting an inflection point. While specific shale regions – such as North Dakota’s Bakken and Texas’ Eagle Ford – have posted […]
Germany’s Merkel Comes Out as Basically a U.S. Agent
Germany’s Merkel Comes Out as Basically a U.S. Agent On Wednesday, April 1st, German Chancellor Angela Merkel’s cabinet approved a measure to bring fracking (the patents for which are owned mainly by “large American companies, including Halliburton, Baker Hughes and Schlumberger”) into Germany. This is a prelude not only to U.S. President Obama’s secret Trans-Atlantic Trade & […]
Revisiting the Shale Oil Hype: Technology versus Geology
Revisiting the Shale Oil Hype: Technology versus Geology The press has been all abuzz the past few weeks speculating on what the drop in oil prices will mean for U.S. shale oil (tight oil) production. Pundits have been falling over themselves quoting various estimates of the breakeven cost of production in this play or that, […]
New IEA Data May Indicate A Slowdown In Rig Count Drop
New IEA Data May Indicate A Slowdown In Rig Count Drop The IEA OMR is out early this month hence April’s edition of vital statistics comes early. The March 2015 Vital Statistics is here. EIA oil price and Baker Hughes rig count charts are updated to the end of March 2015, the remaining oil production charts are updated to February […]
Calls For Immediate Shutdown Of Illegal California Injection Wells As Regulators Host ‘Aquifer Exemption Workshop’
Calls For Immediate Shutdown Of Illegal California Injection Wells As Regulators Host ‘Aquifer Exemption Workshop’ While California legislators are calling for immediate closure of the thousands of injection wells illegally dumping oil industry wastewater and enhanced oil recovery fluids into protected groundwater aquifers, regulators with the state’s Division of Oil, Gas and Geothermal Resources (DOGGR) were holding an “Aquifer […]
The Oil Price Crash and Economic Slow Down in China
The Oil Price Crash and Economic Slow Down in China Two of the factors in the oil price crash are well constrained: 1) oversupply of expensive light tight oil (LTO) in North America and 2) the decision of OPEC to not cut production. The third possible factor of weak global demand is not so easy […]
The Shale Debt Redux
The Shale Debt Redux Shale debt, falling prices and slack demand has tight oil producers in trouble. And yet, there is still burgeoning production. Why? Well, we’ve seen this before. It’s the shale debt redux. Operators did it a few years ago in natural gas and prices have yet to recover. Unfortunately cheap money in […]
Global Shale Fail: Oil Majors Leaving Fracking Fields Across Europe, Asia
Global Shale Fail: Oil Majors Leaving Fracking Fields Across Europe, Asia With some analysts predicting the global price of oil to see another drop, many oil majors have deployed their parachutes and jumped from thehydraulic fracturing (“fracking”) projects rapidly nose-diving across the world. As The Wall Street Journal recently reported, the unconvetional shale oil and gas boom is […]
Lipstick on a pig: America as the world’s swing producer of oil
Lipstick on a pig: America as the world’s swing producer of oil Most people have heard the old saying: “You can put lipstick on a pig. But it’s still a pig.” That’s sort of what is happening in the American oil patch as producers try to put a positive gloss on the devastation that low […]
Rig Count Drops For 14th Week In A Row, Fastest Rate In 29 Years
Rig Count Drops For 14th Week In A Row, Fastest Rate In 29 Years For the 14th week in a row, the US rig count fell 67 rigs to 1125, (a 5.6% drop to 41.4%, bigger than March 09’s previous record 14-week decline of 41%). The decline in rigs contionues to tyrack the lagged oil price perfectly but […]
Texas: From Shale Boom To Water Revolution
Texas: From Shale Boom To Water Revolution Texas is famous the world over for two things on a massive scale: oil and droughts. Now the slick but dry state is becoming famous for water: that precious element that both resolves the drought problem and also makes it possible to pump more oil out of the […]
ExxonMobil CEO Wrong About “Resilience” Of Tight Oil Production
ExxonMobil CEO Wrong About “Resilience” Of Tight Oil Production ExxonMobil CEO Rex Tillerson is wrong about the resilience of U.S. tight oil production. Last week, The Wall Street Journal reported: “…Mr. Tillerson pointed out that the collapse in natural-gas prices similarly had led the number of rigs drilling for that fuel to drop to 280 from north […]
