Oil production can be confusing because there are various “pieces” that may or may not be included. In this analysis, I look at oil production of the United States broadly (including crude oil, natural gas plant liquids, and biofuels), because this is the way oil consumption is …
Articles: tight oil (139)
The latest EIA drilling productivity report (11th April 2016) shows US shale oil production continuing to decline in Bakken, Eagle Ford and Niobrara while the Permian has flattened out.
Whatever happened to “peak oil” – the assertion that the rate at which oil is extracted from the Earth is nearing a maximum or peak level?
America’s energy future is largely determined by the assumptions and expectations we have today.
U.S. oil production has begun to drop in response to low oil prices, but not as dramatically as many had anticipated.
Last week, members of the media breathlessly reported that the Utica Shale could hold more recoverable gas than the Marcellus, the largest shale gas play in the country.
To get some understanding of what will drive future developments on Light Tight Oil (LTO) extraction in Bakken, it is helpful to look at individual companies.
It is not because of decreased rig count. It is because cash flow at current oil prices is too low to complete most wells being drilled. The implications are profound. Production will decline by several hundred thousand of barrels per day before the effect of reduced rig count is fully seen.
Irrespective of price, geology is trumping technology in the Bakken and Eagle Ford plays.
Lifting the oil export ban would only perpetuate the problem of over-production. That is no solution to low oil prices, lost jobs or lower oil-related spending.