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Tag Archives: shale boom

Waiting for recovery–when will the oil glut disappear?

crude oil storage, oil glut

They’re tired phrases. Oil slump. Oil glut. Rig count down. Oil price dips. It seems as though every time the oil industry hits the news, one of those phrases are used. But life for those of us who work in the oil and gas industry consists of the here and now, and although the the view of the computer screen reporting the ...

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NARO and ShaleCast announce alliance to educate shale owners

NARO and ShaleCast announce alliance to educate shale owners

April 20, 2016 (Chicago, Illinois) – The National Association of Royalty Owners (NARO) and ShaleCast.com today announced an alliance to assist landowners participating in the shale revolution. “We believe this platform can be a game changer for the millions of royalty owners generated by the shale boom,” said Jerry Simmons, executive director of NARO.  Simmons added, “For nearly 40 years, NARO ...

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Shale boom leads US to first annual trade surplus with OPEC

Shale boom leads US to first annual trade surplus with OPEC

In 2015, the United States recorded an annual trade surplus with the Organization of the Petroleum Exporting Countries. For the first time ever in trading with OPEC, exports exceeded imports. The United States finished $6.6 billion in the black, according to the U.S. Bureau of Economic Analysis data. More than $72 billion worth of goods were exported to OPEC countries, ...

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U.S. shale producers see big budget cuts for 2016

HOUSTON/NEW YORK – U.S. shale oil producers, having slashed fat from 2015 budgets after a 50-percent drop in crude prices, risk cutting to the bone next year as they pare spending further and get ready for a prolonged downturn. Top shale companies including Devon Energy Corp, Continental Resources Inc and Marathon Oil Corp this week released preliminary 2016 plans for ...

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U.S. shale boom nears turning point: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) LONDON – Oil production from major U.S. shale plays will decline by almost 60,000 barrels per day between April and May according to new estimates from the Energy Information Administration. Production is expected to decline in the Bakken, Niobrara and Eagle Ford plays next month. Only the ...

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Oil council: Shale won’t last, Arctic drilling needed now

WASHINGTON — The U.S. should immediately begin a push to exploit its enormous trove of oil in the Arctic waters off of Alaska, or risk a renewed reliance on imported oil in the future, an Energy Department advisory council says in a study to be released Friday. The U.S. has drastically cut imports and transformed itself into the world’s biggest ...

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Groups sue feds over drilling in northwest New Mexico

jack

ALBUQUERQUE, N.M. — A coalition of environmental groups is suing the federal government over the approval of oil and gas drilling permits in northwestern New Mexico. The groups filed their lawsuit Wednesday as they prepared to rally at the State Capitol. They contend that more development and hydraulic fracturing could harm the environment and sites such as the Chaco Culture ...

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It’s time to lift the oil export ban – Cramer

Eight days after being inaugurated as the 40th President of the United States, Ronald Reagan signed an executive order eliminating price controls on crude oil and petroleum products implemented to increase domestic production and reduce energy demand.  “For more than nine years, restrictive price controls have held U.S. oil production below its potential, artificially boosted energy consumption, aggravated our balance ...

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Mud serves as multipurpose tool in $100B shale industry

Mud makes it all possible. The $100 billion industry arising from the so-called shale boom — gas drilling that some consider a revolution and others lament as an environmental tragedy — hinges on the lubricating, cooling, cleaning, balancing and communicative powers of drilling mud. “Every component on that rig has something to do with that mud,” said Andrew Zeni, rig ...

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