Rystad ups US shale energy output forecasts for 2020 by 25%

Oil and natural gas liquid (NGL) production from unconventional tight plays in the US and Canada as of June 2014 has reached a rate of 5.5 million barrels per day and will pass six million barrels during the last quarter of the year. According to research by respected Norway-based data analysts Rystad Energy. Their analysis…



Charts, maps of America’s amazing shale oil revolution

Below are four charts and two maps that help tell the story of America’s amazing shale oil revolution: 1. The Big Three. This week, the Department of Energy’s Energy Information Administration (EIA) updated its monthly “Drilling Productivity Report” with new estimates of oil production through August in America’s three, super-giant oil fields, the “Big Three”: the…



Capturing value in global gas: Prepare now for an uncertain future – McKinsey

There is huge uncertainty about how global gas markets will evolve, but the extent of the value at stake makes it imperative for liquified natural gas (LNG) suppliers and buyers to act now, according to this analysis by global management consultants McKinsey & Company. Unforeseen events have disrupted the gas market in the last eight…



US shale oil producers have boosted efficiency but not productivity: Rystad

Over the past five years, oil producers’ operations in the major US shale plays have become more efficient but not more productive, according to analysis by Norway based consultants and business intelligence data firm Rystad Energy. Dedicated tight oil activity in the US has been going on for over five years already, yielding more than 60,000…



The Southeast: emerging demand epicentre of US gas industry

With U.S. natural gas production continuing to hit all-time records, the big question for the gas market is demand. Where is all that gas going to go? Well, we are pretty sure that most of the supply growth will be absorbed by the triad of new gas fired power generation, industrial demand and exports. The…



EY sees shale gas development in Europe more evolution than revolution

Global consultants EY, with headquarters in London, have issued a briefing note that argues that the development of shale gas in Europe will evolve more slowly than the rapid, game-changing growth experienced in the US. European shale gas potential Shale resources are believed to be present in at least 14 countries across Europe, though no…



Mexico likely to remain a huge gas market for US, timely boost for Texas shale

Growing Mexican demand for natural gas has been seen as a timely boon to Texas gas producers, which have been losing their Northeast and Midwest markets to the Marcellus and Utica. Gas exports to Mexico still are rising sharply, and several new gas pipelines are planned to move Eagle Ford, Permian and other US gas…


The Permian Basin’s resource potential, recent activity and growth in charts

According to current estimates reported on the Market Realist site, Texas’s Permian Basin is one of the largest oilfields in the world. A recent presentation from independent oil and gas company Pioneer Natural Resources showed the total recoverable resource potential of the Spraberry and Wolfcamp formations in the Permian Basin to be approximately 75 billion…


Maria van der Hoeven

Unconventional oil revolution to spread beyond North America by end of decade: EIA

The unconventional supply revolution that has redrawn the global oil map will likely expand beyond North America before the end of the decade, the International Energy Agency (IEA) says in its annual five-year oil market outlook. The report also sees global oil demand growth slowing, OPEC capacity growth facing headwinds, and growing regional imbalances in…