Home » Posts tagged 'us shale oil' (Page 6)
Tag Archives: us shale oil
Rig Count Drops Most In 7 Months As ‘Traders’ Panic-Buy Crude Futures
Rig Count Drops Most In 7 Months As ‘Traders’ Panic-Buy Crude Futures The US oil rig count dropped 5 to 763 last week, the biggest drop in 7 months. However, crude production from the Lower 48 has surged (rising the most since June last week) to the highest since July 2015. Even with today’s sheer […]
US Shale Production Just Hit A New All Time High
US Shale Production Just Hit A New All Time High One month ago, we reported that based on recent data, June oil output from shale producers would post the first double-digit production growth since July of 2015, when oil prices tumbled and a substantial portion of US production was briefly taken offline. While the final […]
Will Central Banks Derail The Shale Boom?
Will Central Banks Derail The Shale Boom? The U.S. Federal Reserve has already increased interest rates several times, most recently in June, with promises to do much more. Rate hikes pose a problem for the oil industry, which has used debt to underpin a drilling boom across the U.S. shale patch. Higher rates could raise […]
Not OPEC, China Dictates The Oil Prices
Not OPEC, China Dictates The Oil Prices The OPEC deal will lead to an ongoing tightening of the crude oil market, putting a floor beneath crude prices in the $50s per barrel in the second half of 2017, according to Helima Croft of RBC Capital Markets. She said that prices should ultimately “grind higher into […]
Shale Hotspot Draws In Another Big Oil Player
Shale Hotspot Draws In Another Big Oil Player The oil price crash that destroyed a lot of smaller oil producers has not spared the finances of even the oldest and largest oil companies. Trying to keep the precious dividends intact and growing, Big Oil is focusing on cost control and cash preservation, and has effectively […]
How OPEC Lost The War Against Shale, In One Chart
How OPEC Lost The War Against Shale, In One Chart At the start of March we showed a fascinating chart from Rystad Energy, demonstrating how dramatic the impact of technological efficiency on collapsing US shale production costs has been: in just the past 3 years, the wellhead breakeven price for key shale plays has collapsed from an […]
Fitch Predicts Drop In Oil Prices By 2017 As U.S. Shale Output Soars
Fitch Predicts Drop In Oil Prices By 2017 As U.S. Shale Output Soars Oil bigwigs should take a step back before becoming too comfortable with the new oil price range according to Fitch Ratings’ newest market analysis. “The recovery in US drilling activity will drive up shale oil production in the second half of 2017, offsetting […]
Production, Rig Count Surge As Exxon Bets Big On U.S. Shale
Production, Rig Count Surge As Exxon Bets Big On U.S. Shale US oil rig counts rose for the7th straight week (up 7 to 609) to the highest level since October 2015. With production surging back above 9mm b/d – the highest in a year – the trend in the rig count implies considerably more production to […]
CONTINENTAL RESOURCES: Example Of What Is Horribly Wrong With The U.S. Shale Oil Industry
CONTINENTAL RESOURCES: Example Of What Is Horribly Wrong With The U.S. Shale Oil Industry According to Continental Resources website, it labels itself as America’s oil champion. To be a champion, one is supposed to be winner. Unfortunately for Continental, it’s taking a serious beating and is a perfect example of what is horribly wrong with […]
OPEC Production Cut May Need to Be Extended: Oil Ministers
OPEC Production Cut May Need to Be Extended: Oil Ministers The oil ministers of Iran and Qatar have suggested that OPEC’s production cut agreement may have to be extended beyond the June deadline, despite an almost 100-percent compliance rate. The comments come a day after the American Petroleum Institute reported the second-largest crude oil inventory increase in history, at […]
Welcome to the Age of Crappy Oil
Welcome to the Age of Crappy Oil It’s been a while since we’ve heard about peak oil—the point at which we use up half the world’s reserves and see production terminally decline—but it’s happening. And yet, we still have enough oil left to burn our way to climate catastrophe. In a paper released at the end of July, […]
Turns out, OPEC Isn’t Dead Yet
Turns out, OPEC Isn’t Dead Yet In War for Market Share with US shale oil. Mayhem has crisscrossed the global oil markets since 2014: Huge losses for Big Oil, including teetering, over-indebted, state-owned giants like Mexico’s Pemex and Brazil’s Petrobras; bankruptcies among some of the smaller players; cuts in production in the US, Canada, and China where production […]
Australian Public Broadcaster ABC unable to look at oil statistics
Australian Public Broadcaster ABC unable to look at oil statistics Four times in as many months did ABC publish inaccurate statements about US shale oil. A glut of mis-information. This is unacceptable because it leads to wrong policy decisions and has ultimately damaging economic and financial consequences. (1) “US shale producers pump like never before” Just in […]
US shale oil peak in 2015
US shale oil peak in 2015 The recent EIA drilling productivity reports show a peaking of shale oil production in the main production regions. https://www.eia.gov/petroleum/drilling/ Fig 1: Bakken production change from old/new wells The 1st panel shows that the number of drilling rigs has dropped sharply but the initial well production per rig has increased from […]
Peak Oil: Choosing Chaos … or Not
Peak Oil: Choosing Chaos … or Not If/when a petroleum shortage impacts it will concentrate minds wonderfully. But when it comes the window of opportunity could be brief and risky. If things deteriorate too far too fast there could easily be too much chaos for sense to prevail and for us to organize cooperative local alternative systems. […]
