Home » Posts tagged 'arthur berman' (Page 2)
Tag Archives: arthur berman
Shale Gas Rig Count Could Implode Here If Prices Don’t Rebound
Shale Gas Rig Count Could Implode Here If Prices Don’t Rebound The Haynesville Shale play needs $6.50 gas prices to break even. With natural gas prices just above $2/Mcf (thousand cubic feet), we question the shale gas business model that has 31 rigs drilling wells in that play that cost $8-10 million each to sell gas at […]
Oil Market Supply Imbalance Getting Worse, Not Better
Oil Market Supply Imbalance Getting Worse, Not Better Oil futures prices (WTI) plunged 12.5 percent this week from $47.90 on Friday, November 3 to $41.96 yesterday morning, November 11. The main reason is that the global supply imbalance is getting worse. The U.S. Energy Information Administration’s (EIA) latest report indicates that the world supply surplus (production minus […]
The Shale Delusion: Why The Party’s Over For U.S. Tight Oil
The Shale Delusion: Why The Party’s Over For U.S. Tight Oil The party is over for tight oil. Despite brash statements by U.S. producers and misleading analysis by Raymond James, low oil prices are killing tight oil companies. Reports this week from IEA and EIA paint a bleak picture for oil prices as the world production surplus continues. EIA […]
The Biggest Red Herring In U.S. Shale
The Biggest Red Herring In U.S. Shale Rig productivity and drilling efficiency are red herrings. A red herring is something that takes attention away from a more important subject. Rig productivity and drilling efficiency distract from the truth that tight oil producers are losing money at low oil prices. Pad drilling allows many wells to […]
A Reality Check For U.S. Natural Gas Ambitions
A Reality Check For U.S. Natural Gas Ambitions Something unusual happened while we were focused on the global oil-price collapse–the increase in U.S. shale gas production stalled (Figure 1). Figure 1. U.S. shale gas production. Source: EIA and Labyrinth Consulting Services, Inc. (click image to enlarge) Total shale gas production for June was basically flat […]
Has The E&P Industry Lost Touch With Reality?
Has The E&P Industry Lost Touch With Reality? The U.S. rig count increased by 19 this week as oil prices dropped below $48 per barrel–the latest sign that the E&P industry is out of touch with reality. Getty Images from The New York Times (July 26, 2015) The last time the rig count increased this […]
OPEC Still Holds All The Cards In Oil Price Game
OPEC Still Holds All The Cards In Oil Price Game Traders were busy throwing in the towel on oil futures this week just as the first solid data and hope appeared that oil prices may be starting on the long road to recovery. As oil prices approached $52 per barrel on Tuesday, July 7, the […]
Current Oil Price Slump Far From Over
Current Oil Price Slump Far From Over The oil price collapse of 2014-2015 began one year ago this month (Figure 1). The world crossed a boundary in which prices are not only lower now but will probably remain lower for some time. It represents a phase change like when water turns into ice: the composition […]
Arthur Berman: Why Today’s Shale Era Is The Retirement Party For Oil Production
Arthur Berman: Why Today’s Shale Era Is The Retirement Party For Oil Production A leading geologist delivers the hard facts As we’ve written about often here at PeakProsperity.com, much of what’s been ‘sold’ to us about the US shale oil revolution is massively over-hyped. The amount of commercially-recoverable shale oil is much less than touted, […]
The Real Cause Of Low Oil Prices: Interview With Arthur Berman
The Real Cause Of Low Oil Prices: Interview With Arthur Berman With all the conspiracy theories surrounding OPEC’s November decision not cut production, is it really not just a case of simple economics? The U.S. shale boom has seen huge hype but the numbers speak for themselves and such overflowing optimism may have been unwarranted. […]
