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U. S. to Remain a Dominant Player
Phjani Gadde with the consulting group Wood Mackenzie addressed the recent North American Prospect Expo in Houston. According to a recent article in “Rigzone”, Phjani stated that global upstream spending is, and will continue to be, dominated by North America in general, and the U. S. in particular. With global outlays projected at about $625… Read More
Statoil Chooses Profit over Production
Norwegian oil company Statoil had virtually no U. S. production in 2010 according to a recent article in “Rigzone”. However, now about 10% of its worldwide output is from shale projects here. Most recently, production was around 210,000 barrels of oil equivalent per day (boepd), primarily from the Bakken (North Dakota), Eagle Ford (South Texas)… Read More
U. S. Shale to Show Europe the Way Forward
According to a recent article in “Rigzone”, research firm Wood Mackenzie feels that Europe will learn from our experience with shale development. Wood Mackenzie divides unconventional oil and gas development in the U. S. into three phases. Phase I was typified by the development of a large number of highly productive shale gas assets with… Read More
Shell Continues to Sell U. S. Gas Assets
“Rigzone” reports that as part of their strategy to raise $15 billion from asset sales, Royal Dutch Shell plc announced that it is divesting its interest in the Pinedale, Wyoming, and Haynesville, Louisiana, fields. However, the company will add acreage in the Marcellus and Utica shale plays. Shell is selling their interest in the Pinedale… Read More
Permian Production Exceeds Pipeline Capacity
“Rigzone” reports that as a result of the shale revolution, oil production from the Permian Basin of West Texas and Southeast New Mexico is outstripping the pipelines’ ability to transport it to Gulf Coast refineries. Shale oil production in the Permian is projected to increase for the sixth straight month in September according to the… Read More
