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Shale Haunts OPEC
OPEC, like all oil producers, is enjoying the recent run-up in prices as a result of their plans to cutback production in concert with Russia. However, an article in “Rigzone” addresses the obvious question: How will U. S. shale operators react? In 2014, the shale revolution resulted in new production hitting crude markets and exerting… Read More
Japan Imports First Shale LNG
Tokyo based JERA Company, the world’s largest importer of LNG (Liquefied Natural Gas), is a joint venture between Tokyo Electric Power and Chubu Electric Power. “Rigzone” reports that last week JERA announced that it has received its first cargo of liquefied shale gas. The shipment of 70,000 tons (3.45 billion cubic feet) left Cheniere Marketing… Read More
Water Testing
The management of formation brine (salt water produced with oil and/or gas) has been an issue for the energy industry since inception. The problem only became more acute with the shale revolution, when ever larger volumes of water were used in hydraulic fracturing. This flow back water from fracking now had to be managed as… Read More
WoodMac’s Projection
“Rigzone” reports that consulting firm, Wood Mackenzie (WoodMac) sees good times ahead in 2017 if oil prices can stabilize at or above $55 per barrel. Those companies that have weathered the price collapse and are emerging relatively strong financially will find opportunities for growth in 2017. WoodMac sees several key themes playing out next year.… Read More
Shale Now Cash Flow Neutral
Writing in “Oil Voice”, Nick Cunningham cites International Energy Agency (IEA) data which indicates that the U. S. shale industry was cash flow neutral for the first time in the third quarter of 2016. Given the magnitude of the shale revolution this sounds counterintuitive. However, the shale boom involved lots of debt, and rising revenues… Read More
