US shale producers to contain their enthusiasm as oil hangover eases

Shale oil companies are ready to play chicken with supply and demand again, according to a report by Bloomberg. Roiled by a year that began with crude at a 12-year low and ended with a surprise OPEC agreement boosting prices, U.S. producers including Continental Resources and Pioneer Natural Resources are promising not to overreact —…


US shale firms go back to work after Trump’s win

American shale producers are redeploying cash, rigs and workers, cautiously confident the energy sector has turned a corner after Donald Trump’s presidential election victory and OPEC‘s recent signal that it plans to curb production. The downturn produced a leaner, more efficient US shale industry that was forced to develop and quickly adapt new technology to compete…


US shale producers withstand oil price slump, output set to return to pre-crash levels

US companies that revolutionised the oil and gas business with hydraulic fracturing and horizontal drilling are surviving the now two-year long oil price crash largely unbowed. While the collapse in prices caused a wave of bankruptcies, total US oil production has only fallen about 535,000 barrels a day so far this year, compared with 2015…


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…


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…


Keep Calm & Carry On – Flexible US shale drillers will slow activity on lower crude prices: Continental CEO

Billionaire wildcatter Harold Hamm, a founding father of the US shale boom whose personal fortune has fallen by more than half in the past three months, said US drilling will slow as producers cut back amid falling oil prices, according to a report by Bloomberg. Declining activity from Texas to North Dakota won’t be as…


Many US shale firms report differing estimates of reserves to stock exchange and public

Lee Tillman, CEO of Marathon Oil, told investors last month that the company was potentially sitting on the equivalent of 4.3 billion barrels in its US shale acreage, according to a report by Bloomberg. That number was 5.5 times higher than the proved reserves Marathon reported to federal regulators. Such discrepancies are rife in the…


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…