Saudi Arabia steps in to, unintentionally, support US shale

Things are looking up in Shalelandia these days. Oil prices, despite the most recent drop, have stayed close to $50 a barrel. Rig-counts and production are rising. Even Saudi Arabia is looking discombobulated. Lest we forget, though, the chief reason things are looking up is because E&P companies fell way down. Back in October, Gadfly surveyed the financial…

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U.S. energy firms descend on West Texas’ Permian Basin as oil recovers

In most U.S. shale oil regions, energy firms are making strategic but cautious bets as the price of oil holds above $50 a barrel. In the Permian Basin of West Texas, the largest U.S. oil patch, the industry poured more than $28 billion into land acquisitions last year – more than triple what they spent…

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Maturing Wolfcamp Delaware shale play in US offers promise – IHS

Located in the western portion of the Permian Basin, which straddles the Texas-New Mexico border, the Wolfcamp Delaware play is an emerging hydrocarbon play that, according to new analysis from IHS, has the economic potential to sustain select operators through this period of distressed oil prices. However, IHS says that like most adolescents, the play…

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Investment options to tap into Texas’ oil resurgence star performer Permian Basin & other shale plays

Oil coaxed from the rapidly developing Eagle Ford and Permian Basin production areas recently lifted Texas’ output back above 3 million barrels per day (bpd) for the first time in more than three decades. That put the Lone Star state at more than a third of total US oil production, compared to about 12% for…

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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…

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US Permian producers target shale as new technology revives legacy oil field

Horizontal drilling last year overtook vertical drilling in West Texas’ Permian basin as new technology and high oil prices rejuvenated the legacy oil play and independent operators like Pioneer Natural Resources and Approach Resources tapped into shale formations previously considered uneconomic. “The Permian is one of the hottest regions in North America right now,” Benjamin…

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