Rystad Energy study finds US oil reserves greater than Russia, Saudi Arabia

Recoverable oil reserves in the United States are now greater than those of both Russia and Saudi Arabia, according to an evaluation by independent Norwegian oil and gas data analysts Rystad Energy. The firm analysed reserves around the world, distinguishing between those in existing fields, in new projects and potential reserves in recent discoveries and even…


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…