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Tag Archives: shale oil

North Slope companies to keep up spending

What lies ahead for Alaska’s oil and gas industry in 2016? The overwhelming unknown is the price of crude oil, and whether it will continue to go down, stabilize or creep upward as has been predicted. What is causing the slump is well known. There’s too much oil supply on the market and on the demand side, the economic slowdown ...

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Derailments more dangerous, but no increase in inspectors

Months before a CSX train carrying crude oil derailed and exploded in Mount Carbon, W.Va., polluting the air and water and forcing more than 1,100 people from their homes, inspectors missed a problem with the track there. Inspection reports compiled by a railroad contractor and CSX showed evidence of the defect, but the track wasn’t repaired or replaced. In fact, ...

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Four countries added to global shale oil, natural gas assessment

global shale resources

The Energy Information Administration continues to expand its assessment of technically recoverable shale oil and natural gas resources around the world. The organization added four new countries – Chad, Kazakhstan, Oman and the United Arab Emirates – to the previous 42 countries.  The additions resulted in a 13 percent increase in global assessed total resource estimate for shale oil and ...

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Shell CEO sees first signs of oil price recovery

LONDON – Oil markets are beginning to recover but the scale of global oversupply means prices may rise only slowly, the chief executive of Royal Dutch Shell Plc <RDSa.L> said on Tuesday. “I see the first mixed signs for recovery of oil prices,” Ben van Beurden told an oil industry conference in London. “But with U.S. shale oil being more ...

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Shale gas violations down as DEP steps up inspections

DEP logo

Pennsylvania oil and gas producers pinched by the lowest prices in years are not catching any breaks from state regulators. The Department of Environmental Protection’s oil and gas office conducted 1,700 more inspections during the first seven months of the year, an 11 percent increase over the same period in 2014, according to department data. A boost in office staff ...

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U.S. oil firms turn to fracking mixology as crude slides again

WILLISTON, N.D. – U.S. oil companies, under renewed pressure from falling crude prices, are increasingly tweaking and mixing fracking technologies as they scramble to squeeze more out of wells and eke out profits after rounds of cost-cutting. Shale oil firms need the experiments to payoff now more so than before given that oil prices have resumed their slide to trade ...

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As oil teeters at $50, a few shale producers still drilling more


WILLISTON, N.D./HOUSTON – A handful of optimistic U.S. shale drillers are sticking with plans to deploy more rigs in the coming months even as oil prices take a sharp dive well below many producers’ $60-a-barrel breakeven point. On Wednesday, Pioneer Natural Resources Co. became the first big company to publicly confirm it was drilling more wells, saying it had already ...

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Oil prices settle into new equilibrium: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) LONDON, July 1 (Reuters) – Benchmark crude oil prices have barely moved for more than two months, implying the market has found a temporary equilibrium after the enormous price shock in the second half of 2014 and early 2015. Over the last 30 trading days, the range ...

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Homeless Atlantic oil cargoes deepen global glut

LONDON – A shadowy build up of oil has intensified in the Atlantic Basin with homeless cargoes of crude turning into unintentional floating storage – another sign the global surplus has some way to go before clearing. Off the coast of West Africa and in the waters of the North Sea, vessels holding millions of barrels of oil have become, ...

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NYMEX-Crude oil futures steady as firm demand meets ample supply

SINGAPORE – U.S. crude was steady early on Tuesday as firm demand supported prices and ample supply dragged. Robust demand in Asia as well as from the driving season in the United States is being met by near record output, especially from the Organization Of Petroleum Exporting Countries (OPEC), although U.S. production seems to have been peaked, at least temporarily. ...

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