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Shale Output to Fall per EIA
“Rigzone” reports that the U. S. Energy Information Administration (EIA) predicts production decreases for domestic shale oil and natural gas production. These reductions are in response to a global energy surplus which has driven down prices, and consequently investment, staffing levels, and rig counts. The EIA predicts that by January, 2016, shale oil production will… Read More
Devon Buys Felix Assets
Devon Energy is buying oil and gas assets from Felix Energy LLC in the Anadarko and Powder River Basins. The Anadarko Basin lies in West Oklahoma and the Texas Panhandle. Devon is buying 80,000 net surface acres for $1.9 billion. Devon is also purchasing Powder River Basin assets in Wyoming located to the South of… Read More
Marcellus Downturn
“Rigzone” reports that while the drilling boom of the last seven years is over, the Marcellus shale, the nation’s newest and biggest gas field, still produces a fifth of our natural gas. However, there is disagreement as to how long production in the 90,000 square mile area will continue to increase. The U. S. Energy… Read More
Hurricanes and Oil Glut
Hurricanes in the Gulf of Mexico used to be a significant factor in short term oil production, inventories, and prices. However, a recent article in “Rigzone” observes that Mother Nature and the shale revolution have combined to minimize, if not eliminate, this effect. For the last two years, hurricane activity in the Gulf has been… Read More
Domestic Reserves Increase
“Rigzone” cites data recently released by the U. S. Energy Information Administration (EIA) indicating that proved oil and natural gas reserves reached record levels in 2014 as a result of the shale revolution. The drilling boom of the last decade, driven by high prices, horizontal drilling, and advances in hydraulic fracturing has transformed the domestic… Read More
