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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…

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Petrochina reaches 2016 shale gas production target ahead of schedule

The Changning-Weiyuan national shale gas demonstration zone in Sichuan province developed by PetroChina Southwest Oil and Gasfield Company has surpassed the shale gas production target set for the full year. A statement issued by CNPC, the parent company of PetroChina Southwest Oil & Gas Field Company said as of September 7th total shale gas production from the zone was…

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