Major oil discoveries have fallen to their lowest levels in more than seven decades, as drillers across the world wrestle with stubbornly low prices and the tantalizing draw of quick returns in U.S. shale fields.
Tag: Drilling Locations
In the heart of the West Texas oil patch, a new fracking frenzy is putting a strain on groundwater.
This article discusses how fracking is stressing ground water.
Charles Phillips was in his pasture one day last year when he heard the sound. At 85, Phillips doesn’t hear as well as he used to, but he had no problem picking up the unmistakable squeal of a drill boring through rock. That’s odd, he thought. Why would my neighbor be drilling a water well?
Pressured for profit, oil majors bet big on shale technology
HOUSTON (Reuters) – Shale oil engineer Oscar Portillo spends his days drilling as many as five wells at once – without ever setting foot on a rig.
Bakken Learning Curve Said Driving Well Productivity Gains
Drilling productivity in the Bakken Shale, which is producing more than 1 million b/d of light sweet crude oil, is a byproduct of geology and the fact that North Dakota operators are further along the learning curve than in other U.S. onshore plays, according to the state’s top oil and gas regulator.
US shale outlook seen at risk from more intensive fracking
US shale oil production is unlikely to peak before the middle of next decade, but current fracking techniques may be risking the prospect of faster decline rates from tight oil than many are forecasting, a top oil industry event was told this week.
Oil market trends are setting the foundation for higher crude prices, Schlumberger says
Oil prices are poised to rise as a number of positive trends take shape in the market, which is now balanced after years of oversupply, according to Schlumberger, the world’s largest publicly traded oilfield services company.
https://www.cnbc.com/2017/10/20/oil-market-trends-are-setting-up-higher-prices-schlumberger-says.html
The Permian Basin Still Has an Awful Lot of Oil
I spent the weekend in Austin at the University of Texas, where I drove past what is arguably the most important oil well in American history, the Santa Rita No. 1.
UT-Austin Study Suggests Water Reuse At Oil Drilling Sites Could Reduce Fracking-Induced …
AUSTIN, TX — A University of Texas at Austin study has found that reusing the large amounts of water rising to the surface at oil exploration sites is not only efficient, but a way to potentially reduce the chances of inducing earthquakes from horizontal drilling activity.
Fracking-related water issues draw attention in West Texas
VAN HORN, Texas (AP) — A West Texas land baron and oilman is on the verge of pumping 5.4 million gallons of water a day from far under the desert mountains here and piping it 60 miles to the nation’s most bountiful oil field, the Permian Basin, where hydraulic fracturing has fueled a renaissance of U.S. oil and gas production.
REPORT: US Oil Production To Shatter Historic Milestone In Trump’s First Term
U.S. oil production could reach never-before-seen heights by the end of President Donald Trump’s second year in office, according to the Department of Energy’s statistical arm.
http://dailycaller.com/2017/07/25/report-us-oil-production-to-shatter-historic-milestone-in-trumps-first-term/