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Permian Drillers Prepare To Go Into Overdrive In 2019
Permian Drillers Prepare To Go Into Overdrive In 2019 In recent months, pipeline capacity shortage in the Permian has been the center of shale drillers and oil analysts’ attention as much as the surging production from this fastest-growing U.S. oil region that has helped total American crude oil production to exceed 11 million bpd for […]
U.S. Shale’s Glory Days Are Numbered
U.S. Shale’s Glory Days Are Numbered There are some early signs that the U.S. shale industry is starting to show its age, with depletion rates on the rise. A study from Wood Mackenzie found that some wells in the Permian Wolfcamp were suffering from decline rates at or above 15 percent after five years, much […]
Is The Bakken Close To Breaking?
Is The Bakken Close To Breaking? While the Permian has experienced a drilling boom and has received tons of media attention, a lesser-known but still remarkable revival has been underway in the Bakken this year. At the same time, the increased rates of drilling in North Dakota are starting to reveal signs of strain on […]
Spending Boost Fails To Raise Production In The Permian
Spending Boost Fails To Raise Production In The Permian The U.S. shale industry is gearing up to spend more this year, despite assurances to maintain capital discipline. In the second quarter, shale companies signaled their intention to lift capex. Part of the reason is that costs are on the rise, so some drillers have to […]
The Productivity Problem In The Permian
The Productivity Problem In The Permian The multi-year campaign to boost efficiency and productivity in the U.S. shale patch could be nearing its limits. Output in the Permian basin is already starting to slowdown, largely due to pipeline constraints. However, there is also a series of other data points that suggests that shale drillers are […]
Trump Tariffs Could Delay Permian Relief
Trump Tariffs Could Delay Permian Relief The oil and gas industry hoped they would be spared from Donald Trump’s trade war, but the Permian basin was just hit with some bad news. The Permian basin has run up against a bottleneck for pipeline capacity. Gushing oil from West Texas will surpass the available space on […]
Flip This Well: How Fracking Company CEOs Get Rich While Losing Billions
Flip This Well: How Fracking Company CEOs Get Rich While Losing Billions Last year the fracking company Halcón Resources announced a new strategy that was sold as the path to profits for the previously troubled shale oil and gas firm. The company had sold its stake in the Bakken oil fields in order to double down […]
Permian Growth Is Reaching Its Limits
Permian Growth Is Reaching Its Limits The Permian isn’t just suffering from a bottleneck for oil, but also for natural gas. In 2016, for instance, gas flows leaving the Permian typically clocked in at about 3.6 billion cubic feet per day (Bcf/d), according to S&P Global Platts. That number has ballooned to 6.3 Bcf/d as […]
Skeptic Geologist Warns: Permian’s Best Years Are Behind Us
Skeptic Geologist Warns: Permian’s Best Years Are Behind Us Geologist Arthur Berman, who has been skeptical about the shale boom, warned on Thursday that the Permian’s best years are gone and that the most productive U.S. shale play has just seven years of proven oil reserves left. “The best years are behind us,” Bloomberg quoted […]
The Future Of U.S. Oil Relies On A Single Play
The Future Of U.S. Oil Relies On A Single Play U.S. oil production recently broke another record, jumping to 10.619 million barrels per day (mb/d) in the last week in April, and the sky seems to be the limit for U.S. shale drillers. However, the fate of U.S. oil, and ultimately a large slice of […]
A Crisis At The Heart Of U.S. Shale
A Crisis At The Heart Of U.S. Shale The bottlenecks in the Permian are starting to capture the attention of the oil market, raising the prospect that U.S. shale production does not live up to the hype. The frenzy in West Texas has predictably led to bottlenecks up and down the supply chain. Oil drillers […]
What’s The Limit For Permian Oil Production?
What’s The Limit For Permian Oil Production? The ‘hottest shale play’ has been the media’s favorite cliché for the Permian Basin over the past year. And while cliché, the basin straddling West Texas and New Mexico has lived up to this description—its oil production, unlike that in other basins, did not fall off a cliff […]
Can The Gas Glut Kill The Permian Boom?
Can The Gas Glut Kill The Permian Boom? The Permian basin continues to add new oil production, but shale drillers in West Texas could face an unexpected problem: too much natural gas. Natural gas is produced as a byproduct when drilling for oil. Oil tends to be more lucrative, so shale companies typically target oil […]
Welfare Kings? Study Finds Half of New Oil Production Unprofitable Without Government Handouts
Welfare Kings? Study Finds Half of New Oil Production Unprofitable Without Government Handouts A new study published in the peer-reviewed journal Nature Energy found that 50 percent of new oil production in America would be unprofitable if not for government subsidies. The study, performed by researchers at the Stockholm Environment Institute and Earth Track, Inc., found that, at […]
Permian Still Holds 60-70 Billion Barrels Of Recoverable Oi
Permian Still Holds 60-70 Billion Barrels Of Recoverable Oil The lucrative Permian Basin still holds between 60 and 70 billion barrels of unharvested oil, IHS Markit Ltd said this week. The recoverable resources in the basin shared by Texas and New Mexico could supply crude to every U.S. refinery for 12 years straight—that’s a total […]
