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Tag Archives: Permian

TMS only one of 19 shale plays now unprofitable

louisiana

Oil prices have dropped so low that 19 shale plays in the U.S. are no longer profitable. On that list are popular plays such as the Eaglebine, the Tuscaloosa Marine Shale (TMS), various Permian formations, and even parts of the Eagle Ford play. Crude prices have hit $75 per barrel, and Goldman Sachs Group Inc. estimates this price is here ...

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Natural gas, oil production projections for December

Natural gas production amongst the top shale plays in the United States will continue to rise through the end of the year, according to the Energy Information Administration (EIA). Oil production is also predicted to be on the rise. Leading the way in natural gas production is the Marcellus Shale play. According to the EIA’s latest Drilling Productivity Report (DPR), ...

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Louisiana earns its first LNG project

lng

Parallax Energy, a newly formed company based in Houston, Texas, hopes to launch its first major liquefied natural gas project in Louisiana. Parallax, which was created by former UK-based BG Group PLC COO Martin Houston, will begin its Live Oak LNG project in Louisiana. Executives hope to finalize the project in November, and these are the only details Houston would reveal. Houston ...

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Permian producers seeing deep discounts

Oil

Permian Basin producers are becoming a victim of their own recent success. A report issued this past week by the Energy Information Administration said the rise of production from the Permian Basin has outpaced takeaway infrastructure, causing the price differential between West Texas Intermediate at Midland to fall below West Texas Intermediate Cushing. EIA Analyst T. Mason Hamilton said the ...

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Oil production set to rise in Sept

pump

Lydia Gilbertson | Shale Plays Media Google+ Reuters reported today that the major plays in the United States are set to raise their production levels by 89,000 barrels per day (bpd) in September. According to the Energy Information Administration, Bakken production is set to rise 20,000 bpd to 1.14 million bpd. The Permian Basin is estimated to grow 38,000 bpd to ...

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Devon Energy adds 22 new wells

Zach Ponce | The Carslbad Current-Argus ARTESIA — Devon Energy added 22 new wells in the Bone Springs oilfield between April and June, a sign that the oil and gas company headquartered Oklahoma City is ramping up its production in Southeastern New Mexico. Additional pumping in the area located in the northeastern portion of Eddy County averaged 660 barrels of ...

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Time-lapse map shows fracking history

Zach Koppang | Shale Plays Media Drillinginfo.com has created a time-lapse map of unconventional oil and gas development. The map spans 15 years and shows development in 11 American shale plays. The fracking craze begins near Fort Worth, Texas and quickly explodes into other areas of Texas as well as New Mexico, Oklahoma, Kansas and Colorado. Development of the Bakken ...

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New industry standards create open relationship between operators and impacted communities

Zach Koppang | Shale Plays Media The American Petroleum Institute (API) has issued new and specific standards that will engage unconventional oil and gas operators with the U.S. communities being affected by development. Oil and Gas Journal reports that the new community engagement guidelines are similar to what already exists for railways and pipelines. In a statement to reporters on ...

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US shale crude almost universally volatile, execs say

crude

Shane Thielges | Shale Plays Media Crude oil from the Bakken shale has long been under scrutiny for its volatile and potentially explosive nature. Now, the Wall Street Journal reports that nearly all oil produced in US shale plays is likely to be similarly unstable. Citing “energy executives and experts”, WSJ’s Alison Sider and Nicole Friedman explain that shale oil ...

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