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INEOS realigns portfolio, grabs shale gas to boost position as chemical sector giant: IHS Markit

INEOS, a global manufacturer of commodity and intermediate chemicals with annual revenues last year of $40 billion, is poised to strengthen its position as a global chemical industry giant once it realizes the benefits of two major investments. These initiatives include imports of U.S. natural gas liquids (NGLs) and investment in UK shale gas, says…

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More than a share in shale gas profits needed to sway UK public opinion on fracking

Britain is due to receive its first delivery of shale gas imported from the US, which will arrive at Grangemouth petrochemical plant in Scotland next month. That the UK is importing a tanker-full of shale gas from the US despite sitting on substantial resources of its own reveals just how far advanced the US shale gas industry…

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US shale oil shifting to lower cost curve; more plays viable at $60 bbl: Wood Mac study

A price of $60 or less for a barrel of Brent crude should not hinder the commerciality of most new drilling projects in U.S. tight oil plays, according to the latest study unveiled by Wood Mackenzie, which said its global oil market analysis showed that 70% of such projects and conventional oil projects in the…

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US shale oil well output decline rates slowing

Since the beginning of the U.S. fracking revolution, oil producers have struggled with a frustrating issue: after an initial burst, crude output from new shale wells falls much faster than from conventional wells. However, those well decline rates have been slowing across the U.S over the past few years, according to data analysis provided exclusively…

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Shale revolution to continue: BP

Technological innovation to drive U.S. shale oil output to nearly 8 MMBOPD by 2035 While the U.S. shale industry is currently taking a beating along with most other crude oil producers around the globe, BP’s 2016 Energy Outlook forecasts that the industry will get back on the track of growth, and double output in the next 20…

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Full scale reversal opens Marcellus/Utica natural gas floodgates to the US West

Tallgrass Energy’s Rockies Express Pipeline (REX) opened the floodgates for Marcellus/Utica producers this Saturday, August 1, bringing online its Zone 3 East-to-West (E2W) expansion capacity. The expansion tripled westbound design capacity to a full 1.8 Bcf/d from the Marcellus/Utica producing region to delivery points in Ohio, Indiana and Illinois. Potentially this additional takeaway capacity eases…

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Cost deflation sees US shale break even prices down by half since 2011

As the oil price remains low exiting the first half of 2015, operators are emphasizing the lower unit costs, or cost deflation, expected for the year. Lower costs are the combined effect of two reduction categories: efficiency gains (structural) and lower service costs (cyclical). Both points are important when estimating 2015 breakeven prices. Since operators…

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