Tailored for shale: Licence terms altered for new UK onshore oil, gas licences

Licences issued for awards of acreage in the UK’s expected 14th onshore oil and gas licensing round will incorporate new model clauses that make allowance for the wide distribution of shale reserves across licence areas, clarify the process for extensions of time and provide for speedy dissemination of geological data and operational results from hydraulic…


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…


US tight oil drilling boosts linked natural gas production

While the number of natural gas-directed drilling rigs in the US is particularly low right now, gas production continues rising, and is currently up 5% year-over-year. One key reason for the gas production boost is the significant increase in natural gas reserves and production associated with tight oil drilling and production, the energy Information Administration…


China says Sinopec’s Fuling shale gas play has reached commercial viability

The Chinese government has verified the extent of shale gas reserves in Sinopec Corp’s Fuling field in the southwest of the country, signalling the official launch of the commercial development of China’s first large shale gas field. The Ministry of Land and Resources verified proven reserves of nearly 107 billion cubic metres (bcm) in the…


IEA says Europe risks losing 30 million jobs to US shale boom, but warns US not to be over reliant on gas

The US shale gas boom is placing 30 million jobs at risk in Europe as companies with greater reliance on energy contend with higher fuel prices than their American counterparts, the International Energy Agency said. Manufacturers of petrochemicals, aluminium, fertilizers and plastics are leaving Europe to take advantage of booming US production of natural gas…


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…


Russia’s Bazhenov shale ‘too important to lose’

Western oil companies have sought to insulate their own projects from the political imbroglio enveloping US relations with Russia over the Ukraine and so that they can continue to develop the country’s vast oil and gas resources. Exxon Mobil and Royal Dutch Shell have joint ventures with Rosneft and Gazprom respectively to explore and produce…