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U.S. tight oil production decline
U.S. tight oil production decline U.S. oil production has begun to drop in response to low oil prices, but not as dramatically as many had anticipated. Oil companies have cut back spending significantly in response to the fall in the price of oil. The number of rigs that are active in the main U.S. […]
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 […]
Busting The “Canadian Bakken” Myth
Busting The “Canadian Bakken” Myth The financial pages of Canadian newspapers have been full of headlines lately announcing the potential of two large shale oil fields in the Northwest Territories said to contain enough oil to rival the Bakken Formation of North Dakota and Montana. The report by Canada’s National Energy Board (NEB) evaluated, for the […]
The Bakken ”Red Queen” is restrained with more credit
The Bakken ”Red Queen” is restrained with more credit This post is an update on Light Tight Oil (LTO) extraction in Bakken based upon published data from the North Dakota Industrial Commission (NDIC) as per March 2015. Extraction developments of LTO from Bakken may be followed by county, formation, vintage of wells, and one important source […]
New Oil-By-Rail Regulations Are Big Win for Oil and Rail Industries, Won’t Stop “Bomb Trains”
New Oil-By-Rail Regulations Are Big Win for Oil and Rail Industries, Won’t Stop “Bomb Trains” The long-awaited oil-by-rail regulations released today are basically a guidebook for the oil and rail industries to continue doing business as usual when it comes to moving explosive Bakken crude oil by rail. DeSmog recently reported on how the Obama administration has worked behind the […]
Global Shale Revolution On Hold
Global Shale Revolution On Hold Along with the rest of the energy world, we have been closely tracking rig counts (now down 40 percent from last fall) and other data to try to determine where the oil markets are heading. This week, the Energy Information Administration reported that production is finally set to decline in […]
Deciphering The Latest Rig Count Data
Deciphering The Latest Rig Count Data The main take-away from this week’s rig count is that everything is on track for lower U.S. oil production by mid-year. The weekly changes vary but the overall trend since October is down and that is positive for achieving a better balance between supply and demand. Please remember the […]
OPEC Production Cut May Not Be Needed After All
OPEC Production Cut May Not Be Needed After All U.S. tight oil production may fall 600,000 barrels per day by June 2015 based on reasonable projections of current rig counts. I compared the decrease in rig counts that began in late 2014 to the rig count decrease in 2008 and 2009 following the Financial Crisis. […]
Are The Bakken’s Sweet Spots Past Their Prime?
Are The Bakken’s Sweet Spots Past Their Prime? This post is an update on total Light Tight Oil (LTO) extraction from Bakken in North Dakota based upon actual data as of October 2014 from North Dakota Industrial Commission (NDIC). It further presents a statistical analysis on developments of well productivity with a detailed look at […]
