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Tag Archives: tight oil

OPEC oil price anchor could be easy to unmoor

VIENNA – To hear OPEC ministers in Vienna last week, one would think the cartel’s battle for market share is a complete success and oil prices are now firmly anchored where they are. “The strategy is working… It will take time for markets to rebalance,” was the mantra from OPEC kingpin Saudi Arabia’s oil minister Ali al-Naimi and his peers. ...

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EIA: The U.S. hit records unseen for a century

The United States hit a milestone last year that hasn’t been accomplished in over a hundred years. According to the U.S. Energy Information Administration (EIA), 2014 was the largest volume increase in oil production (including lease condensate) since record-keeping began in 1900. U.S. crude oil production increased during 2014 by 1.2 million barrels per day (bbl/d) to 8.7 million bbl/d. ...

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A bright future for the Permian Basin

By: John Bestoloffe , Shale Plays Media The Permian Basin’s tight oil plays are expected to lead the US in production according to new data and estimates. According to new statistics from Rystad Energy, an independent oil and gas consulting service and business intelligence data firm, the Permian Basin’s “tight” play is expected to pull ahead of all other U.S. tight ...

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Study: Tight oil survives price plummet

microseismic seismic

by: Corey Paul, The Odessa American, Texas Most tight production in the Permian Basin and other parts of the country would remain profitable if oil dropped to $75 per barrel, with some plays and sub-plays that would hold up if prices dropped much lower, according to a recent Wood Mackenzie analysis. The research group’s study represented an attempt to address the ...

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