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US Shale Is Immune To An Oil Price Crash In 2017

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shale in particular—is effectively capping the oil price gains from that agreement. Four months after the OPEC/NOPEC deal took effect, oil prices dropped to the levels preceding the agreement, amid concerns over still stubbornly high inventories and rising U.S. oil production,” the consultancy noted. “In

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US offshore oil and gas leasing plan for 2017-2022 focuses on Gulf of Mexico, excludes Arctic

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The Proposed Final Program offers 11 potential lease sales in four planning areas—10 sales in the portions of three Gulf of Mexico Program Areas that are not under moratorium and one sale off the coast of Alaska in the Cook Inlet Program Area. The vast majority of US offshore oil production occurs in the Gulf of Mexico.

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Chevron leveraging information technology to optimize thermal production of heavy oil with increased recovery and reduced costs

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Chevron, already the largest thermal heavy oil producer, is optimizing thermal production in heavy oil fields by leveraging information technology to improve the percentage recovery as well as the economics. Indonesia’s Duri heavy oil field has also achieved an ultimate recovery factor of 70% after employing steamflood technology.

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EIA 2035 reference case projects drop in US imports of petroleum due to modest economic growth, increased efficiency, growing domestic oil production, and biofuels

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EIA added a premium to the capital cost of CO 2 -intensive technologies to reflect current market behavior regarding possible future policies to mitigate greenhouse gas emissions. Over the next 10 years, continued development of tight oil (e.g., It does not assume any revolutionary or breakthrough technologies.

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EIA projects world liquid fuels use to rise 38% by 2040, driven by growth in Asia and Middle East; transportation 92% of demand

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The potential for growth in demand for liquid fuels is focused on the emerging economies of China, India, and the Middle East, while liquid fuels demand in the United States, Europe, and other regions with well-established oil markets seems to have peaked. Rising world oil prices attract investment in areas previously considered uneconomic.

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Opinion: The Shale Delusion: Why The Party’s Over For US Tight Oil

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The party is over for tight oil. Despite brash statements by US producers and misleading analysis by Raymond James, low oil prices are killing tight oil companies. Reports this week from IEA and EIA paint a bleak picture for oil prices as the world production surplus continues. Click to enlarge.

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IHS Markit identifies 5 billion barrels of oil equivalent in short-cycle opportunities outside North America

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The IHS Markit report, entitled: “Back to the Basins: International Shorter-Cycle Opportunities,” initially assessed five, short-cycle projects outside the US in mature, late-life basins in Mexico, Nigeria, Egypt, Brazil and the North Sea, and included both shallow water and mature, onshore areas that break even at per-barrel costs under US$40.