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OPEC Market Share
As OPEC continues to increase production in its efforts to intensify pressure on U. S. shale drillers, the global oil glut continues. This in turn sustains downward pressure on prices. There has already been an oil glut for 5 consecutive quarters. According to the International Energy Agency, if OPEC continues producing at current rates this… Read More
Major Casualties
When oil prices collapsed last November, most industry observers predicted the demise of domestic shale operators. However, according to a recent article in “World Oil”, it is the international majors who are the unexpected casualties. In order to maintain their economic viability in the new low price environment, the smaller, nimbler, shale operators used loans,… Read More
New Swing Producer
In a recent article in “Rigzone”, author John Kemp cites two recent developments supporting his contention that the shale revolution has transformed global oil markets. His first example is the U. S. Congress considering legislation to repeal the 1973 crude oil export ban. However, his primary focus is on the emergence of domestic shale operators… Read More
Shale Output to Drop
So says a recent article in “World Oil”. Crude output from super shale plays such as North Dakota’s Bakken and the Eagle Ford of South Texas is expected to fall in June and July. Some observers foresee output continuing to decline through the end of the year. With OPEC refusing to cut oil production from… Read More
Super Shales
When crude prices collapsed last fall, some industry observers predicted hard times for shale operators. While this has been true in some cases, a recent article in “Rigzone” cited a study by consulting firm Wood Mackenzie. Their analysis indicates that there is still a great deal of upside for both the Bakken and Eagle Ford… Read More
