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.
Articles: tight oil (132)
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.
ExxonMobil CEO Rex Tillerson is wrong about the resilience of U.S. tight oil production.
There was a time, just a few years ago, that most news reports deemed a shale oil boom inevitable in California. But now, it’s not looking like such a sure thing after all.
Oil prices don’t change based on weekly rig count reports. Yet every week, there are proclamations by analysts that oil prices are poised to recover because of some change in the Baker Hughes North American rig count
The evidence suggests the United States is playing energy poker with a pair of jacks in its hand, but betting as if it had four aces.
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To separate the hype from reality on US shale oil, our podcast guest is Arthur Berman, a geological consultant with 34 years of experience in petroleum exploration and production.
The Wall Street Journal on Tuesday, February 10 proclaimed “Oil-Price Rebound Predicted” according to the IEA. - Not true.