The practice of hydraulic fracturing, or “fracking,” has emerged as a divisive issue across the US, reflected in Americans’ opinions about it; 40% of Americans say they favor the procedure, while 40% oppose it, and a substantial 19% do not have an opinion, according to a poll conducted by Gallup. This is amid the Obama…
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The former chief of the UK’s Environment Agency is “hugely sceptical” on the prospects of fracking for shale oil in the UK, saying it is far from clear that the process should be used to extract quantities of oil from downlands in the south-east of England. Lord Smith of Finsbury, better known as Chris Smith…
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Despite a 50% slide in crude prices since last summer, US shale oil producers are enjoying remarkably easy access to capital markets and this will allow them to avoid getting squeezed when banks reset their loans in April. A surge in equity issuance so far this year by oil and gas companies has surprised many…
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The UK fracking industry needs a new regulator to give the public more confidence in the fledgling sector, an industry-backed body has concluded. Current regulation, involving a number of government departments, is “complex and relatively unapproachable”, says a report by the Task Force on Shale Gas. It said a new regulator should independently monitor fracking…
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Last year was a banner year for the sand mining companies that cater to the US shale drilling services industry. That’s because in 2014 well operators significantly increased the amount of sand used to complete fracturing operations in shale plays – from an average of about 5 MMlb for a single well to 15 MMlb…
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US shale production continued to tick upwards in February despite months of price volatility and falling rig counts, a new report by Platts said. Oil production from shale plays in North Dakota and Texas rose by 19,000 barrels per day, or about 1%, according to a report by Bentek Energy, an analytics and forecasting unit…
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State-owned China National Offshore Oil Corp. (CNOOC) will wind down drilling at its first and only shale gas block onshore China after disappointing results at existing wells soured foreign interest. CNOOC approached foreign companies last year to help develop the Western Lower Yangtze Block, west of Shanghai – the NOC’s first onshore upstream project. But…
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On Friday the Obama Administration released what the US Department of Interior deemed the “Final Rule to Support Safe, Responsible Hydraulic Fracturing Activities on Public and Tribal Lands”. The new regulations primarily address well integrity, water protection and the long-awaited detailing of chemical disclosure. While many environmental organizations claim the new standards are merely paper…
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Algeria will continue to carry out shale gas exploration despite a wave of protests against the project across the country’s desert south. Algeria’s president, Abdelaziz Bouteflika, said in a statement read out by an adviser that the exploration project would be carried out “until the end.” But he said a decision on exploiting the fields…
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Australian-headquartered resources giant BHP Billiton’s CEO Andrew Mackenzie says the US shale oil and gas sector that the company spent $20 billion entering into in 2011 in its biggest acquisition since the 2001 merger with South Africa’s Billiton is not looking as profitable in the long-term as was initially thought. Mr Mackenzie’s comments, made to…
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