Argentina has the world's No. 28.43 shale gas and No. 4 shale oil reserves.
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Argentina has the world's No. 2 shale gas and No. 4 shale oil reserves.
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It's not a zero sum for sheiks versus shale, but shale certainly is the biggest winner.
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Sheffield is not the first executive of a major shale producer to warn of shale production challenges.
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But both OPEC ministers and shale executives know that there is nothing, really, that shale firms can do.
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Shale production is here to stay because shale is a technology play, and the technology keeps getting better.
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He expects shale drilling to accelerate and U.S. shale alone could meet the new demand in global growth.
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Carrizo is a $2.2 billion independent exploration and production company with operations in the Eagle Ford shale, the Permian Delaware Basin in Texas, Utica shale in Ohio, Marcellus shale in Pennsylvania and Niobrara formation in Colorado.
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PA) will increase its exposure to U.S. shale gas by buying 4203 percent of Barnett Shale assets from Chesapeake (CHK.
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Shale gas is a national resource which should be shared, said Gary Haywood, chief executive of the Ineos shale business.
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We also are looking at Shale – Shale is also becoming more and more of an attractive proposition to invest in.
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U.S. shale producers were not part of that deal and shale oil supply grew exponentially as OPEC producers curbed output.
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Britain's progress on shale gas exploration means it is Europe's most promising shale gas nation after projects in Poland were unsuccessful.
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The latest episode in the American shale revolution shows that shale drillers — and their stock prices — are entering a transition period.
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Britain's shale gas industry is still in its infancy, with the country's second shale gas fracking permit awarded only last month.
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Argentina is also home to the Vaca Muerta shale formation, one of the world's biggest reserves of shale gas and oil.
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"In the sheiks versus shale fight, score one for the shale patch," said Michael Cohen, head of energy commodities research at Barclays.
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"Shale oil production has its limitations in scope and time ... U.S. shale oil production will reach its peak in 2020," he said.
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BP last year acquired BHP's U.S. shale assets for $2.5683 billion that turned BP into one of the largest shale oil drillers.
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Smaller firms ConocoPhillips and Hess have also shifted away from deepwater projects to onshore shale production including in North Dakota's Bakken Shale.
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Bajada de Añelo totals some 204 square kilometers (78.76 square miles) and has both shale oil and shale gas resources, YPF said.
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In shale, BHP recently sold a small portion of the onshore shale acreage, kicking off plans for a full exit over time.
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The government will also launch a new 1.6 million pound ($2.2 million) shale support fund over the next two years to build capacity and expertise in local authorities dealing with shale planning applications and set up a shale environmental regulator.
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LONDON (Reuters) - Nottinghamshire County Council gave the green light on Tuesday for shale gas developer IGas to test drill a shale gas site in northeast England in a first sign from the local authority that it supports shale gas projects.
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Turning to the United States, Birol said he expected production growth in the shale oil sector to slow from previous "explosive" levels, he said, due to the financial difficulties of some of U.S. shale producers, not because shale resources were depleting.
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It has fared better from shale oil, whereas ExxonMobil bet big on shale gas via a $31bn merger in 2010 with XTO Energy.
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The deal will bolster Callon's presence in the oil-rich Permian shale basin, the country's most prolific, and the Eagle Ford shale field.
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OPEC and shale: U.S. shale oil producers are increasing output and adding rigs now that prices have climbed back after the down cycle.
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Unlike in the United States, where shale abounds in more remote areas, shale drilling in Britain has been pursued near some residential areas.
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Chevron has been heavily investing in the Permian Basin, the top U.S. shale field, but has not yet turned a profit from shale.
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Not to be confused with shale gas, which is a major American industry, oil shale has never been successfully commercially exploited in the United States, even though over half of the world's known oil shale deposits are in the Colorado River Basin.
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It has projected shale production of 1 million barrels per day in the Permian Basin, the top U.S. shale field, as early as 2024.
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And what hasn't been talked about very much is that the up side in this deal is the shale play, is the shale development.
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The major is also ramping up shale development in Sichuan, seeking to catch up with Sinopec Corp which has pioneered China's nascent shale push.
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"As the last trial for IOCs on China's shale gas, BP's decision will impact foreign firms' confidence in China's shale gas sector," Zhu said.
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It is also one of the largest producers of kerogen shale oil in the world, and has been processing oil shale for 35 years.
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The deal gives Marathon more exposure to U.S. shale, thanks to Andeavor's existing logistics and terminal operations in Texas and North Dakota shale regions.
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"Shale has dramatically changed the world's perception of fossil fuels," said the chief executive of one shale company, declining to be identified by name.
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Vaca Muerta contains 308 trillion cubic feet of shale gas and 16.2 billion barrels of shale oil, according to the U.S. Energy Information Administration.
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Sheffield and Hess Corp Chief Executive John Hess were the only U.S. shale executives to attend after three of their shale peers pulled out.
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The tenacity of America's shale producers earned OPEC's respect, but the shale sector needs higher prices than the cartel's leading producers to keep drilling.
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Onshore blocks with shale oil and shale gas reserves close to the Eagle Ford basin in Texas will be offered, as well as areas in the Tampico Misantla formation, which is estimated to hold some 35 billion barrels of oil, mostly in shale rock.
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Shale production in major U.S. shale basins, including North Dakota's Bakken, has seen a steady rise, with the country becoming the world's top crude producer.
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Small, independent drillers pioneered U.S. shale production, but the new rule is "the shale game is a scale game," according to Chevron CEO Michael Wirth.
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Rather than killing the U.S. shale industry, the ensuing two-year price war made shale a stronger rival, even in the current low-price environment.
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The event, known as Shale Insight, is being hosted by the Marcellus Shale Coalition and the oil and gas associations of Ohio and West Virginia.
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Papa, a well-known shale industry entrepreneur, built EOG Resources Inc into one of the most profitable U.S. shale producers before he retired in 2013.
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S. shale producers of natural gas are getting ready to do to the global gas market what U.S. shale oil producers have done to OPEC.
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In the Permian Basin, the top U.S. shale field, spending will drop by half to $2.2 billion, and by a third in Colorado's shale fields.
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Mozzi's parents are divorced and his mother, Nikki Williams-Ellis (formerly Nikki Shale), subsequently married the late Conservative Parliamentarian Christopher Shale, according to the BBC.
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A long, steady increase in U.S. shale gas production much of it a byproduct of the shale oil boom has hit prices for the fuel.
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If re-elected, the Conservatives would also continue to develop the shale energy industry in Britain and change planning laws for shale applications, the document said.
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The Marcellus shale play, the largest natural gas shale play in the United States by reserves volume, runs through Pennsylvania, West Virginia, New York and Ohio.
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The Belgium-sized Vaca Muerta deposit, located in western Argentina, is regarded as having the world's second-largest shale gas and fourth-largest shale oil deposits.
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While U.S. government policy to promote the shale revolution has helped, what has really made the difference are organic industry processes, particularly advances in shale technology.
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With shale firms ramping up their drilling programmes, there is plenty of scepticism about how far prices can rise before shale output starts increasing again significantly.
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As shale firms rebound from a two-year price war with OPEC, many are planning to expand production in North Dakota, Oklahoma and other shale regions.
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A planned shale wealth fund would be changed so a greater percentage of tax revenues from shale gas benefited communities around the extraction sites, the document said.
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Occidental is focused on the shale acreage, particularly Anadarko's position in the Permian Basin, the top U.S. shale field stretching across western Texas and southeastern New Mexico.
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Robust U.S. shale gas and shale-oil production have greatly diminished voter concerns about energy availability and affordability — although a gasoline price spike could quickly rekindle them.
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But ever since the shale revolution, there has been an offsetting benefit to American GDP because higher prices stimulate investment in the Permian and other shale basins.
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Chinese energy giants are making progress unlocking natural gas from shale rock formations, taking a step towards replicating the U.S. shale revolution, according to a new report.
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Much of that growth will come from U.S. shale fields, where drillers use advanced methods like hydraulic fracturing to coax oil and gas from shale rock formations.
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The U.S. shale boom played a major part in a historic price collapse in 2014, and the recovery from shale fields threatens to weigh on oil prices.
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The low price environment destroyed returns, bankrupted weak companies, and abruptly halted the Shale revolution; geographically, most of shale production shriveled to a mere handful of counties.
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Pure natural gas picks with holdings in the Pennsylvanian Marcellus shale or the Ohioan Utica shale like EQT or Chesapeake Energy, respectively, are even riskier, Cramer said.
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"We have also confirmed that the Bowland shale formation fractures in a way that, from U.S. experience, is typical of an excellent shale gas reservoir," Egan said.
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While there is still plenty of shale oil to produce, drillers have already burned through the best acreage in some of the nation's shale fields, LeBlanc said.
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Other companies pursuing shale in Britain, like Igas Energy and Ineos, a large petrochemical company with shale interests, have also called for a review of the rules.
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Buying Andeavor gives Marathon more exposure to the booming U.S. shale oil sector, thanks to Andeavor's logistics and terminal operations in Texas and North Dakota shale regions.
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Asked about the disruptive impact of U.S. shale on the energy market, and whether the abundant commodity could torpedo OPEC's efforts to boost prices into the new year, Barkindo cited an impending slowdown in shale — and suggested the most concerned party out of anyone should be shale producers themselves.
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Argentina possesses the world's second-largest reserves of shale natural gas and ranks No. 4 in reserves of shale oil, mostly in the Vaca Muerta fields in Patagonia.
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Ecuador's Perez also downplayed the impact of U.S. shale production on global crude markets, noting that shale fields tend to have lower total oil recovery than conventional fields.
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Unlike shale gas resources, which are highly concentrated in Sichuan, most of China's shale oil is trapped in eastern regions such as the Songliao and Bohai Rim basins.
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Daniel Dicker, author of Shale Boom Shale Bust, told CNBC that the idea of a multi-billion dollar tax rebate from low oil just does not add up.
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Blanch told CNBC that U.S. shale is sensitive to prices, and production in the domestic shale patch has been on a steady decline for the past three quarters.
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OPEC officials say they are not worried about a renewed surge in shale swamping its efforts this year, but have urged shale producers to help curtail global supply.
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Investors in shale have seen thin returns despite booming production, as shale firms have used profits to invest in raising output more rather than returning cash to shareholders.
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In comparison, US shale oil costs $23.35 per barrel (and $20.99 for non-shale), while Russian production costs average $19.21 per barrel, according to the Energy Information Administration.
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Artem Abramov, who follows shale for Rystad Energy, an Oslo-based market research firm, forecasts that by 2040 shale drilling could account for half of British gas production.
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Activity in the Permian Basin, the large west Texas shale play that is currently the locus of the national shale oil and gas boom, continues to be robust.
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U.S. shale drillers will keep posting strong gains in August and September, with production from shale regions topping 21 million barrels a day, the Department of Energy projected.
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Surging U.S. production is being driven by booming output from America's shale fields, where drillers use advanced drilling methods to squeeze oil and gas from shale rock formations.
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We are performing really, really well, and what hasn't been talked about very much is that the upside in this deal is the shale play, is the shale development.
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Mexico is racked by gangland violence in states where the shale lies, and it also lacks infrastructure from pipelines to weight-bearing roads sufficient to handle intensive shale projects.
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In this view, high prices will stimulate more shale production but also risk curbing consumption growth, while low prices will curb shale drilling and risk provoking action from OPEC.
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"It's a battle between how quick OPEC can cut without shale catching up," Nunan said, referring to U.S. drilling in shale formations that has shown an upsurge this year.
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Battle with shale: In separate comments, Saudi Aramco CEO Amin Nasser "says he does not spend much time worrying about booming production from U.S. shale fields," according to CNBC.
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Many companies have given up exploration in shale fields globally because of cost, political risk and the geological complexity of shale fields in places like Eastern Europe and China.
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Just as shale as roiled crude oil markets, it's likely that U.S. shale gas will have the same effect, at least until demand growth eliminates the coming supply surplus.
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The higher prices rise, the greater the risk from increased shale and non-shale drilling, the greater the chance of non-compliance and the more likely demand will slow.
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OL and other producers in the Eagle Ford shale region of Texas and the U.S. Gulf of Mexico to halt production and the drilling and fracking of shale wells.
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If we were trying to kill off shale production we would probably not have reduced our production when prices were low and shale prices would have been further hurt.
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The discovery is comparable to other impressive sites like the Burgess Shale in the Canadian Rocky Mountains, discovered in 1909, Chengjiang in China and Emu Bay Shale in Australia.
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Lastly, while bottlenecks have somewhat slowed production in the nation's top shale field, the Permian basin, few expect the U.S. shale juggernaut to stop growing in the medium term.
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LONDON, Oct 12 (Reuters) - Cuadrilla, a British shale gas company, said on Friday it would begin fracking a shale gas well at its Lancashire site in Britain on Oct.
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The key that unlocks shale drilling is hydraulic fracturing, the process of injecting water, sand and chemicals underground to fracture shale rock and let hydrocarbons flow to the wellbore.
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"The big issue facing shale is the core inventory depletion," said Matt Portillo, research analyst at Tudor Pickering Holt & Co, referring to the rapid output decline in shale wells.
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" -- October 23 speech at Shale Insight Conference "LOUISIANA!
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About half of US drilling is for shale oil, but 90% of US shale gas prospects are not on federal lands, according to a 2013 Center for Western Priorities report.
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The proposed deal is the largest in the shale patch since 2012 and adds momentum to producers looking to expand drilling in the West Texas and New Mexico shale hub.
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"We're buying low-priced, beaten-down bonds of U.S. shale producers, particularly those in the Permian Basin and Eagle Ford," he said, referring to shale-oil producing areas in Texas.
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BofA analysts said shale production stopped declining in the fourth quarter, but the fact that shale has not broken out of its current range suggests it has not yet recovered.
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Continued declines in U.S. shale production also make a deal more likely by reducing the risk that shale producers will simply use any price increase to seize more market share.
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And we knew that the shale oil, shale gas came out but maybe not far some other things that might come out that are a lot cheaper than we expected.
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The U.S. shale oil revolution — fueled by new technology that allows drillers to squeeze oil and gas from shale rock — was a major contributor to the 2014 oil price collapse.
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We all knew that shale oil and shale gas were boosting U.S. production figures in 2018, but BP's finding that "the United States recorded the largest-ever annual production increases by any country for both oil and natural gas, the vast majority of increases coming from onshore shale plays" is still astonishing.
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"We see a century of natural gas supply in U.S. shale," Ryan Lance, chief executive of U.S. shale producer ConocoPhillips said this week at the triennial World Gas Conference in Washington.
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CAUTIOUS ON SHALE Equinor had made impairment charges of $2.79 billion, with $2.24 billion related to its onshore shale oil and gas assets in North America on "more cautious price assumptions".
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Indeed, in the past several years, the EIA's "high resource" scenario has more closely tracked actual U.S. shale production, as shale continues to surprise most analysts with its growth and resilience.
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"The rapid ramp up of U.S. shale activities has triggered an increase of U.S. shale costs of 26 percent in 2277 after having almost halved from 22016-213," the report said.
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The deal ends a disastrous seven-year investment in the shale oil business, which triggered investors, led by U.S. hedge fund Elliott Management, to press BHP to dump its shale business.
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The problem is that the U.S. infrastructure was historically not built to handle shale oil and shale gas, which producers are able to ramp up quickly when prices rise, he said.
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Citi believes that U.S. shale oil has fundamentally altered the oil market, and investors now need to think about shale drillers' ability to pump more or less to balance the market.
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HOUSTON (Reuters) - Shale oil bellwether EOG Resources Inc (EOG.
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" Energy Aspects' Haywood said it was a bit "outlandish" to call the shale oil industry a "Ponzi scheme" but noted that at one point "everyone wanted a piece of the shale oil industry" and that shale production companies' strong acreage positions when oil prices were high had meant that their assets were indeed "very valuable.
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LONDON (Reuters) - Britain's government approved its second-ever shale gas fracking permit on Thursday, overruling a local authority decision and boosting the country's position as Europe's most promising shale gas exploration ground.
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The company was late to the shale boom sweeping the United States — and when it finally tried to get into the action, it overpaid in 2010 for a shale gas company, XTO.
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LONDON (Reuters) - British shale gas company Cuadrilla said it is seeking a change to planning permission conditions to give it more time for shale gas drilling at its site in Lancashire, England.
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Payouts to communities from the wealth fund will come on top of shale gas operator payments of 100,000 pounds per exploration well and a one percent share of shale gas site revenues.
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Statoil has also invested in shale, but Saetre said it had no plans to increase its production in U.S. shale formations, which stood at around 225,000 barrels of oil equivalent per day.
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Strong refinery runs coupled with growing exports of shale oil have avoided a domestic crude bottleneck and boosted prices for shale producers, eliminating the big discounts seen for domestic oil before 2013.
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Citi's Morse noted that the "most significant change" in oil market dynamics has been the impact of unconventional shale oil, adding OPEC+ countries hoped for the so-called "shale revolution" to end.
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It has underestimated the ability of shale-oil producers in America—its nemesis in the sheikhs-versus-shale battle—to use more efficient financial techniques to weather the storm of lower prices.
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Rather than killing the U.S. shale industry, OPEC's two-year effort to maintain market share by driving down prices and push higher-cost producers out has made U.S. shale a stronger rival.
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Sean Spicer will be speaking later this month at Shale Insight 2017 in Pittsburgh for a public-private discussion on shale development and gas-drilling technical insights, the conference organizers announced Wednesday.
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Shale drilling has proved very sensitive to changes in the value of West Texas Intermediate (WTI) crude, especially the forward prices shale firms rely on to hedge production and reduce their risks.
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Goldman Sachs said in a research report it expected U.S. shale crude productivity gains through 2020, which will push average breakevens for shale plays to below $50 per barrel for U.S. crude.
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North Dakota's Bakken shale drillers produce crude that's better suited to making middle distillates, so Morgan Stanley highlights Continental Resources, Oasis Petroleum and Whiting Petroleum as potential outperformers among independent shale drillers.
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Both Occidental and Chevron have proven to be efficient at shale production, and either would create synergies in a merger with Anadarko, said Artem Abramov, head of shale research at Rystad Energy.
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The EIA projected gas output would increase in all of the big shale basins in November, with the biggest increase in the Appalachia region, which includes the Marcellus and Utica shale formations.
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"For the next 50 years, we can expect to reap the benefits of the shale revolution," Harold Hamm, a pioneer in the discovery of shale oil, told the Guardian at the time.
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Chinese majors have also tapped most of the best assets onshore and offshore, with the under-explored resources such as shale oil and shale gas costly to develop due to complex geology.
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With-- the national decline, I think there is a capacity in the market in terms of supply to-- include the shale and the growth that-- we are seeing currently in the shale.
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One reason shale producers can be so fleet-footed is the record backlog of wells that have already been drilled but wait to get fractured to keep oil trapped in shale rocks flowing.
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In the U.S., where abundant shale gas production has started to turn the country into an exporter, landowners have directly benefited from the shale gas boom because they have rights to mineral resources.
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Under Watson the company has been shifting additional resources to shale oil projects that promise quicker returns, but nearly all of that shale acreage has been in the company's portfolio since the 1930s.
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Ohio has become the sixth largest natural gas producer in the United States because of the discovery in recent decades of shale gas in what has become known as the Utica shale field.
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" The billionaire businessman predicted "devastation for states like Pennsylvania, Ohio, West Virginia and so many others, where shale oil and shale energy and coal and coal production are critical parts of the economy.
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EOG, one of the nation's largest shale oil and gas producers, said earlier in the week that it resumed operations in some portions of the Eagle Ford shale play after Harvey-forced suspensions.
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Before the advent of fracking, the drilling rights on many pieces of land — including the Permian Basin in West Texas, Marcellus Shale in Pennsylvania and the Bakken Shale in North Dakota — were worthless.
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BHP first acquired shale assets in 2011 for more than $22020 billion with the takeover of Petrohawk Energy and shale gas interests from Chesapeake Energy Corp at the peak of the oil boom.
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In the last decade, Saudi Arabias efforts to protect prices by limiting its output contributed to the first U.S. shale boom in 13-14 and the second U.S. shale boom in 2017/18.
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Brent prices at much below $55 are clearly unsustainable for shale producers, while Russia, Saudi Arabia and other members of OPEC+ cannot maintain prices much above $70 before shale production sends them lower.
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In the last decade, Saudi Arabia's efforts to protect prices by limiting its output contributed to the first U.S. shale boom in 13-14 and the second U.S. shale boom in 2017/18.
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Exxon Mobil had been slow to join the oil shale boom since it purchased XTO Energy, a shale gas driller, for more than $30 billion in 2009, shortly after natural gas prices peaked.
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Brent prices at much below $55 are clearly unsustainable for shale producers, while Russia, Saudi Arabia and other members of OPEC+ cannot maintain prices much above $70 before shale production sends them lower.
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At the time, he was benefiting from America's shale revolution.
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S. shale is going to continue to weigh on market.
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But as OPEC is cutting, U.S. shale output is rising.
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S. shale is coming back, and it's coming back strong.
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The higher prices have made more U.S. shale drilling profitable.
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Also, most of shale production takes place on private land.
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Technological advancements have also helped boost onshore U.S shale production.
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His estate cabernets, grown primarily on Franciscan shale, are singular.
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DAVID FABER: Why not have looked at other shale plays?
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OL) have also invested in U.S. shale, but Eni (ENI.
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OPEC cut output in 2017, effectively making way for shale.
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Texas alone holds more than 60bn barrels of shale oil.
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Shale producers will have gained market share at their expense.
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THE HISTORY of America's shale industry is brief and dramatic.
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Shale companies now claim to have changed how they operate.
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Over 6 million of those barrels now come from shale.
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Most shale producers can grow, but not generate free cash.
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Shale firms have pushed U.S. oil output to record levels.
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CHICAGO (Reuters) - U.S. shale oil producer Goodrich Petroleum Corp GDPM.
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The global oil market is firmly in the shale era.
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Throughout its existence, the shale oil industry has consumed cash.
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The Chinese shale formations themselves tend to be relatively deep.
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Linn operates in California, Wyoming and North Dakota shale fields.
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Right now, shale prices are close to break even levels.
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You could say that shale oil is the new subprime.
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Some analysts doubted whether shale drilling would slow for long.
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Many shale gas and oil companies are heavily in debt.
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That would open the door to oil shale mining nationally.
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Shale executives continue to earn higher pay despite mixed records.
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Shale oil has an EROI of as little as 5.
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Chevron's shale holdings were vast even before the Anadarko deal.
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Not all investors are sold on the attractions of shale.
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HOUSTON (Reuters) - U.S. shale oil producer EOG Resources Inc (EOG.
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Gulf Coast refiners can't operate on US shale oil alone.
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Shale oil isn't enough to keep Gulf Coast refineries running.
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The shale industry will see the deepest cuts, Rystad said.
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Antipathy often arises in discussions about shale drilling across Europe.
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Analysts pointed to grey areas over what constitutes shale oil.
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Western sanctions have limited shale exploration and production in Russia.
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There is no sign that shale producers will restrain production.
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US shale oil, on the other hand, is very light.
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The American shale industry today, however, is far more efficient.
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The economic impacts of the shale revolution follow similar contours.
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S. shale oil production will reach its peak in 2020.
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That SPAC acquired Centennial Resource Development, a shale oil producer.
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Still, in the United States shale has overshadowed the Gulf.
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ConocoPhillips' production is now about a quarter shale and growing.
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Perhaps US shale production will collapse more sharply than expected.
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Despite OPEC's decision in late 2014 to maintain production in order to retain its market share in the face of rival shale oil "newcomers," the shale oil industry in the U.S. was nothing new.
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Unlike many rival shale producers, it has stuck with the Bakken and with shale deposits in Oklahoma, rather than chasing the more fashionable reserves of the Permian Basin in west Texas and New Mexico.
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Spurred in part by those high prices, producers figured out how to free gas trapped in shale rocks economically, with technologies such as horizontal drilling and hydraulic fracturing sparking the so-called shale revolution.
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U.S. SHALE BARRELS U.S. shale firms and other non-OPEC producers, including the major international oil companies, have been the biggest beneficiaries of Saudi Arabia's and OPEC's efforts to restrict production and lift prices.
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"Any price rebound will only embolden U.S. shale producers at a time when rumors have started to emerge that the U.S. shale boom is slowing," PVM oil analyst Stephen Brennock said in a note.
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SO IF YOU'RE -- IF SHALE IS ENOUGH TO SUPPLY GLOBAL DEMAND GROWTH, THE PROBLEM WITH SHALE IS IT'S GOT A VERY RAPID DECLINE CURVE AND WE HAVE NOT BEEN INVESTING IN LONG LIFE PROJECTS.
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Midstream companies have raced to add pipeline capacity from the Permian, the biggest U.S. shale oil basin, to the Gulf Coast as the shale boom has helped send U.S. crude exports to record highs.
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The largest drop has been in the Permian Basin shale field, where 30 fleets have been sidelined, the firm estimates, followed by declines in Eagle Ford and Williston, which includes the Bakken shale field.
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The largest drop has been in the Permian Basin shale field, where 30 fleets have been sidelined, the firm estimates, followed by declines in Eagle Ford and Williston, which includes the Bakken shale field.
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Saudi Arabia has pointedly warned shale producers that it will not cut its own output simply so they can grow theirs ("Saudis tell U.S. oil: OPEC won't extend cuts to offset shale", Reuters, Mar. 20093).
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In November 2014, Reliance and Pioneer announced exiting their stake in shale oil and gas transportation and distribution joint venture, which analysts had said was a precursor to Reliance's move to exit U.S. shale operations.
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Swiss chemicals group Ineos, Britain's most ambitious shale developer with more than 1 million acres of land, has promised to share 6 percent of revenue from shale gas wells with local communities, landowners and residents.
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Imports are rising thanks to a combination of strong demand from U.S. oil refineries and falling domestic oil production from shale formations ("West African crude regains glow in west as shale fades", Reuters, March 17).
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The deal can survive some degree of "slippage" from shale and other OPEC and non-OPEC producers because consumption is growing, which will help absorb some non-compliance as well as a limited shale revival.
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OIL-MAJORS-SHALE/ How BP found shale profits with 'crystal ball' oilfield technology LUFKIN, Texas/LONDON (Reuters) - In the pine forests of eastern Texas, oilfield workers equipped with virtual-reality goggles are helping BP's (BP.
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HOUSTON (Reuters) - Strong demand for shale oil-and-gas infrastructure is giving rise to an important new financing vehicle for pipeline, processing and storage ventures that are needed to get more shale fuels to market.
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"The natural gas industry and the shale revolution are poster children for 'letting the markets work,' the API argued in its filing, citing the U.S. shale boom as "a prime example of competition at work….
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For communities where shale development occurs, there is the risk of an accident in every part of the oil and gas extraction process and an increasing number of small earthquakes from shale-related wastewater disposal.
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OSLO, Nov 7 (Reuters) - Norway's Equinor agreed to sell its shale assets at the Eagle Ford shale formation in southwest Texas to Repsol for $325 million, the Norwegian oil and gas firm said on Thursday.
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" Tommy Nusz, chief executive of North Dakota shale producer Oasis Petroleum Inc, told Reuters OPEC members "have demonstrated that they have a difficult time understanding the U.S. shale plays, but I suspect that is improving.
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The principal risks come from an acceleration in U.S. shale drilling, declining compliance in OPEC and its allies, increased production from non-OPEC non-shale sources, or a deceleration in demand owing to rising prices.
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While shale used to be the realm of smaller oil companies known as independents, most of BP's rivals, including Exxon Mobil and Chevron, are now moving in, spending hefty portions of their capital on shale.
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Goodnight gathers, transports and disposes of around 350,000 barrels of waste water a day and has operations in the Bakken shale in North Dakota, as well as the Permian and Texas' Eagle Ford shale play.
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Production from North Dakota's Bakken shale is set to grow by 8,000 barrels a day, while output from the Niobrara shale underlying Colorado and neighboring states will rise by 6,000 barrels a day, EIA says.
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Oil producers led by Saudi Arabia and top non-OPEC exporter Russia are in an uneasy truce with U.S. shale firms after a two-year price war that sent many shale producers to the wall.
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OPEC+ was prompted to act after global oil prices tumbled in mid-2014 due to an oversupply but U.S. shale producers are not a part of the deal and shale oil supply has grown exponentially.
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Its shale companies are pumping out oil at a phenomenal rate.
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Chevron this year plans to spend $4.3 billion on shale development.
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Shale, in my view is a technology in its earliest stages.
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Meanwhile, America's shale oil revolution has weakened the kingdom's negotiating position.
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All but four million of those barrels were from shale oilfields.
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The North American shale rush was financed largely with junk bonds.
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Trump told the story again at a shale industry conference Wednesday.
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In 2010-593 RIL spent $8bn on shale fields in America.
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Moreover, the productivity of shale wells is becoming harder to improve.
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Shale oil in the US… will attenuate the price a bit.
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Anadarko owns prized shale fields in West Texas' Permian Basin. 7.
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Chevron and ExxonMobil are both going very big on U.S. shale.
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Anadarko is so alluring because of its assets in shale oil.
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Shell also sees shale production as a key future growth engine.
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Yet it is highly unlikely that the shale industry will collapse.
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The upshot is that the world increasingly relies on American shale.
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For this, America's shale revolution may be a blessing, he says.
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But the price recovery has spurred on U.S. shale output again.
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S. crude producers send more shale oil to the world : tmsnrt.
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They do not want to resurrect the entire U.S. shale complex.
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Should they reinvest their profits in shale or in greener technologies?
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Cohen said another issue is what role U.S. shale will play.
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For leading U.S. shale oil producers, $211 is the new $22015.
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For an interactive graphic on U.S. shale oil revolution, click tmsnrt.
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What screwed the whole thing up, of course, was shale production.
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It was also due to the new bullishness in U.S. shale.
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But in recent years the shale-oil boom revived American production.
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Concern over increasing U.S. shale production, however, has capped the gains.
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The Permian is the epicenter of the U.S. shale oil revival.
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U.S. shale "clearly makes sense in the current environment," Reitan said.
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We are producing it in large quantities in the Marcellus Shale.
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Other British shale gas developers include IGas, Egdon Resources and INEOS.
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However, higher prices could encourage U.S. shale operators to increase drilling.
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As those shipments dwindled, refiners turned to shale and Canadian oil.
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U.S. shale oil production was expected to collapse with lower prices.
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U.S. shale producers "need to row our own boat," he said.
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More than half of the U.S. total is embedded in shale.
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Production from the Bakken shale basin jumped 14% to 191,268 boepd.
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HOUSTON (Reuters) - U.S. shale oil producer Pioneer Natural Resources Co (PXD.
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"We don't see much prospect for shale going global," he said.
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Oil shale mining does, however, have a track record in Estonia.
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Venezuela's heavy crude cannot be replaced by light U.S. shale production.
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First, US shale companies ramped up production faster than anyone anticipated.
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The rally has prompted growth in shale and other rival supplies.
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The best shale oilfields with the lowest drilling costs won't die.
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Saudi Arabia already tried — and failed — to destroy shale oil once.
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The US shale industry persisted, though, and continued to gain strength.
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Under Tillerson, Exxon Mobil was late to the shale-drilling boom.
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Over the past two years, American shale oil producers have suffered.
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In other words, Riyadh's restraint was keeping U.S. shale in business.
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Is the quick payoff offered by shale part of the appeal?
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MORE (R-Okla.) asked specifically about help for the shale industry.
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I think shale has altered the entire pattern of world oil.
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Brennock warned that a slowdown in shale drilling may prove temporary.
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The improved techniques which enabled the shale revolution cannot be unlearned.
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I scrabbled over the painted boulders and the loose, eroding shale.
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"The shale boom has driven incredible increases in production," said Fitzmaurice.
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The research is based on national shale well data from FracFocus.
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Like Exxon, Chevron continues to rapidly build up its shale operations.
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The Eagle Ford is one of several major U.S. shale fields.
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The US shale boom is lifting the oil and gas sector.
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S. shale is trying to understand where (oil) prices will go.
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Russia may well damage the shale industry, but at great cost.
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Shale, the fastest-growing type of U.S. crude, is lighter still.
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Officials in northern England approved a shale gas fracking application from Third Energy on Monday in a shift indicating growing support for shale gas that Britain's government hopes can counter the decline in North Sea output.
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Vaca Muerta, a Belgium-sized shale formation located in the western Patagonian province of Neuquen, is seen as the most promising unconventional oil and gas field outside of North America, the birthplace of the shale revolution.
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Continental Resources Inc, one of the most-prolific U.S. shale companies, posted a better-than-expected quarterly profit on Wednesday, thanks to rising oil prices and spiking output in its core North Dakota Bakken shale operations.
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"Increased access to low-cost natural gas from the Marcellus Shale and other regional shale plays has driven the switch away from coal in the Northeast United States," the EIA said in a study last week.
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Chesapeake's problems are emblematic of natural gas-focused shale companies' struggle to generate profits as a steady increase in production – much of it a byproduct of the shale oil boom – has kept prices pegged below $3.
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Chesapeake's problems are emblematic of natural gas-focused shale companies' struggle to generate profits as a steady increase in production – much of it a byproduct of the shale oil boom – has kept prices pegged below $3.
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Chesapeake's problems are emblematic of natural gas-focused shale companies' struggle to generate profits as a steady increase in production much of it a byproduct of the shale oil boom has kept prices pegged below $3.
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The deal, valued at $211 billion including $1.71 billion in Carrizo's debt, will bolster Callon's presence in the Permian shale basin, the most prolific oil patch in the United States, and the Eagle Ford shale field.
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Payne added that Russia "smells blood" in the weak U.S. shale sector and would be looking to shave 1.5 to 2 million barrels a day off U.S. shale production, which has increased sharply in recent years.
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"We will not be seeing the explosive growth in the U.S. shale production, but we are still expecting growth coming from the United States, not only from shale, from the Gulf of Mexico (too)," he said.
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From the Gulf of Mexico to the Arctic National Wildlife Refuge (ANWR), and from the shale of Utah to the shale of Ohio, our country has the potential for robust energy development from coast to coast.
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In a sign that the American shale gas revolution is spreading to the Middle East, Saudi Aramco reached a deal with Halliburton over the weekend to lift its production program in three Saudi Arabian shale fields.
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The speed of the recovery in the U.S. shale industry in the past year has surprised oil investors after a global supply glut led to a two-year crude price slump and bankrupted many shale firms.
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Or introduce those insights to geologists studying the structure of shale who find ways to map underground gas deposits, which can be tapped via hydraulic fracturing and horizontal drilling, and results in the shale gas revolution.
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Occidental has said it plans to shed most of Anadarko's non-shale properties in a deal that would cement its position in the Permian Basin of West Texas and New Mexico, the top U.S. shale field.
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He said he expects shale output to keep rising, regardless of OPEC policies, and said OPEC and other established oil producers need to reconsider their future growth plans in light of "huge growth" from U.S. shale.
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Although the shale business has yet to generate a profit, it is expected to do so next year, Greg Guidry, who heads Shell's shale operations, told Reuters on the sidelines of the CERAWeek energy conference in Houston.
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Investors have pushed top U.S. shale companies to focus on returns, rather than higher output, a move that threatened to slow the breakneck growth in supply sparked by the shale revolution in the world's top oil consumer.
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Texas's Eagle Ford shale region, which has seen substantial growth in recent years thanks to the shale boom, has also seen production shut in due to the storm, and it may be some time before activity resumes.
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This was made possible by the shale revolution – the breakthrough of hydraulic fracturing, better known as "fracking," that could split rock formations below ground and boost the extraction of oil and gas resources from shale rock formations.
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Producers in the U.S. shale patch rely on an expensive method called hydraulic fraction in which they inject water, minerals and chemicals at high pressure into wellbores to break up shale rock and release oil and gas.
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U.S. shale drillers have put more oil rigs to work as higher prices, supported by OPEC-led production cuts, allow them to break even on more new output in shale fields, which requires expensive advanced drilling methods.
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In shale fields from Texas to North Dakota, production costs have roughly halved since 2014, when Saudi Arabia signaled an output free-for-all in an attempt to drive higher-cost shale producers out of the market.
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The company, once the largest oil producer in North Dakota's Bakken shale formation, has focused most of its budget in recent quarters on shale formations in Oklahoma, where some new wells have produced prolific quantities of oil.
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ConocoPhillips, which has been divesting assets to focus on its U.S. shale base, had in October posted a quarterly profit that beat analysts' estimates, primarily as higher shale production offset lower crude prices and higher exploration costs.
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Low-cost producers like Saudi Arabia have been supporting prices for years through supply cuts — which in turn boosted higher-cost producers like shale companies in the U.S. and enabled even greater output from the shale producers.
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Halliburton probably has more experience in drilling and completing oil and gas shale wells than any other company, having been a central player in the past decade's shale drilling frenzy across Texas, North Dakota, Oklahoma and Louisiana.
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ConocoPhillips, which has been divesting assets to focus on its U.S. shale base, had in October posted a quarterly profit that beat analysts' estimates, primarily as higher shale production offset lower crude prices and higher exploration costs.
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But that effort keeps getting undermined by the American shale oil boom.
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He noted that shale is just 5 percent of global oil output.
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Exxon has said it would double shale production over the next decade.
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In America shale firms stole a march on the global oil majors.
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L), as well as U.S. shale oil producers like EOG Resources (EOG.
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Shale companies generally use revolving credit to finance day-to-day operations.
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U.S. SHALE PRODUCERS CHALLENGE PLAINS ALL AMERICAN'S PROPOSED STEEL TARIFF SURCHARGE -FILING
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Environmental campaigners said cash sweeteners would not convince Britons about shale gas.
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SandRidge produces oil and gas from shale formations in Oklahoma and Kansas.
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Now their reserves replacement will also require inorganic, brownfield or shale investments.
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Its cargo was 27,500 cubic meters of ethane from U.S. shale fields.
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Related columns: * Shale revival looms over oil prices and spreads, Reuters, Jan.
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The intrigue: IEA also sees an inflection point in the shale patch.
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Also, America's shale boom has given it leverage in international oil markets.
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Still, the researcher suggests that the new shale gas boom isn't harmless.
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Costs have been falling for offshore and non-shale onshore wells too.
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That's because shale resources aren't "discovered" the same way conventional kinds are.
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Sernovitz also provides his own counterargument: that the shale boom, as it
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Shale would help Ukraine's ambitions to cut its gas purchases from Russia.
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U.S. shale production is up, even as OPEC members reduce their output.
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"OPEC now sees shale as part of the global mix," he added.
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Costs to cover possible bad loans to troubled shale oil companies increased.
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Naimi acknowledged that shale oil has a place in the industry's future.
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However, BP's expansion in U.S. shale fell behind many of it peers.
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We've heard about shale technology, also in Saudi Arabia, of all place.
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Perhaps the shale effect destroys the usefulness of this as an indicator.
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That reservoir is one of the largest shale deposits in the world.
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Only a handful of independent shale firms collect more than they spend.
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The overseas market for super light U.S. shale oil is even lower.
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This allows U.S. shale producers to use advanced drilling methods more efficiently.
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U.S. shale drillers rely on expensive advanced drilling methods like hydraulic fracturing.
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"We may be at a record right now for shale," Kloza said.
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The acquisition extends EQT's footprint in the Marcellus and Utica shale regions.
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U.S. shale is ramping up but it remains to some extent bottlenecked.
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Shale drillers face yet another hurdle to upping output, according to Essner.
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Novak said the rise in shale production was "in theory" within expectations.
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The shale renaissance trigged a complete transformation of our nation's energy landscape.
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Statoil has water-intensive shale oil and gas in the United States.
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Small, independent companies were first to set about coaxing oil from shale.
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U.S. shale oil's prospects looked uncertain after oil prices plunged in 2014.
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Part of the attractiveness of investments in shale is the quick payoff.
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Support for shale oil and gas continued under her successor, John Kerry.
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However, rising crude prices have encouraged drilling in U.S. shale oil regions.
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The center of Colorado's shale oil drilling is the Denver-Julesburg Basin.
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If and when prices eventually rise, shale production will eventually increase again.
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Powered by the shale revolution, US output has soared to record highs.
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Shale oil has made the United States the world's largest oil producer.
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Other areas of shale production have already taken a beating this year.
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"US shale oil is always there in the background," he told me.
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"Shale has changed the psychology of the world oil market," he said.
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Halliburton's revenue was hurt by a slowdown in North American shale drilling.
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That was before the shale oil boom redrew the global petroleum map.
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New York (CNN Business)ExxonMobil's investments in American shale are paying off.
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Oil sands cost more to develop than traditional or shale oil reserves.
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Exports will drive increased investment and job growth in the shale fields.
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Then, in 2008, the exploration of the Marcellus Shale deposit took off.
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Do you view yourself as a competitor to the U.S. shale industry?
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OPEC wants to develop a closer relationship with the U.S. shale industry.
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Hollub wants her target's prime position in the top U.S. shale field.
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Heltman has pressed shale firms to show restraint even amid rising prices.
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Australia's shale gas reserves are estimated to be immense, but remain untapped.
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Although the French group has cut spending on U.S. shale production following the fall in oil prices over the past two years, it said the Barnett Shale deal was opportunity-driven and made possible by its preemption rights.
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Now, oil majors that were slow to seize on shale are seeking further efficiencies by adapting technologies for highly automated offshore operations to shale and pursuing advances in digitalization that have reshaped industries from auto manufacturing to retail.
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EOG, considered one of the most-technology savvy U.S. shale producers, has been steadily growing its U.S. portfolio in recent years and is now the largest shale oil producer in Texas as well as the entire United States.
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Last year, then finance minister George Osborne said the government would create a shale wealth fund that would receive up to 10 percent of tax revenue from shale gas developments for investments in communities affected by the projects.
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OPEC and Saudi Arabia "thought that there would be major capitulation and damage to U.S. shale producers as a result of the deep downturn," said Les Csorba, a leadership consultant at Heidrick & Struggles who works with shale executives.
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But oil prices may keep falling until traders see they are "slow(ing) down shale much faster," said Schieldrop, referring to the desire of Saudi Arabia and other OPEC producers to protect market share from U.S. shale producers.
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In recent years OPEC representatives have held meetings with executives from U.S. shale companies, in an effort to better understand shale and as the rhetoric from state-run producers has shifted from its adversarial approach in the past.
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BHP first acquired shale assets in 2011 for more than $20 billion with the takeover of Petrohawk Energy and shale gas interests from Chesapeake Energy Corp, but suffered as gas prices collapsed, forcing it to book massive writedowns.
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Shale drilling has roughly doubled American oil and gas production, and made the country a major hydrocarbon exporter for the first time in decades, but the shale revolution has been slow to spread beyond a handful of countries.
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The Permian is the biggest U.S. oil producing shale basin and since much of that oil comes out of the ground with associated gas, it is also the nation's second biggest shale gas producing region, behind the Appalachian.
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The inclusion of shale fields in the auction, most likely near Mexico's northern border with the United States, will mark a first for Mexico, where development of its own shale basins badly lags booming U.S. fields next door.
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Now, U.S. shale producers can compete in a $50-per-barrel oil market, and about a dozen shale companies are seeking to cut costs further by analyzing DNA samples extracted from oil wells to identify promising spots to drill.
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Nearly a year after putting its U.S. shale assets up for sale and after months of market anticipation, BHP agreed to sell its shale oil and gas assets for $10.8 billion, with BP Plc picking up most of them.
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Dealmaking in the fourth quarter slowed to a trickle in U.S. shale oil plays, where drillers use a process called hydraulic fracturing to bombard shale rocks with water, chemicals and minerals at high pressure to free oil and gas.
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To survive and thrive, independent shale drillers must continue expanding production while slashing costs, returning profits to shareholders, and expanding into new operations such as pipelines to achieve efficiencies, according to interviews with a dozen shale executives and financiers.
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Nearly a year after putting its U.S. shale assets up for sale and after months of market anticipation, BHP agreed to sell the shale oil and gas assets for $230 billion, with BP Plc picking up most of them.
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"The United States is successfully developing shale oil so that even if prices go up, it will only lead to more shale oil production" that would compete with new Russian output coming online years from now, Mr. Yasin said.
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Chevron, Exxon, Royal Dutch Shell Plc and BP Plc largely missed out on the first phase of the shale bonanza, when more nimble independent producers such as Anadarko pioneered shale drilling technology and leased Permian acreage on the cheap.
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The main threat comes a potential increase in shale production in the meantime.
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Shale oil is blended with heavier barrels to allow refiners to maximize production.
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The Vaca Muerta shale play is still in the initial stages of development.
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American shale producers rely on an expensive method of drilling called hydraulic fracturing.
|
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By comparison, Exxon this year spent $5.6 billion on U.S. shale oil assets.
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A big chunk of Exxon's upstream spending will go to shale this year.
|
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During the Obama administration, new technology to access shale oil revolutionized the industry.
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Graphic: Break-even costs for producing oil in major U.S. shale basins - tmsnrt.
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"Bottom line is: Bullish OPEC cuts versus bearish U.S. shale recovery," said Wittner.
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Oil producers have benefited from surging crude production in the U.S. shale basins.
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Hamm, CEO of shale producer Continental Resources, was Mitt Romney's 2012 energy advisor.
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EDT: President Trump speaks at the Ninth Annual Shale Insight Conference in Pittsburgh.
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It also intensified the pressure to cut investment in America's shale-oil industry.
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CHEVRON'S SHALE ASSETS OFFER DECADES' WORTH OF PRODUCTION; COMPANY NOT RESOURCE CONSTRAINED -CEO
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Consultant Deloitte says a third of shale producers face bankruptcy risks this year.
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Exxon has been investing heavily in its U.S. shale operations and in Guyana.
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L) $10.5 billion acquisition of U.S. shale assets from BHP Billiton BLT.L(BHP.
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For years the shale-oil industry has been seen as a money pit.
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Shale was also seen as the oil industry's flexible response to price signals.
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SINGAPORE (Reuters Breakingviews) - China's shale gas push is a fully justified insurance policy.
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This was the crude the U.S. used to buy before the shale revolution.
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Map of the newly discovered oil reserves in the Midland Basin's Wolfcamp Shale.
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The state energy giant has instead prioritized production at a shale development nearby.
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The shale industry has made America the world's top producer of crude oil.
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Concho, for example, this year purchased RSP Permian, another shale producer, for $9.5bn.
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British shale companies are hoping to win over communities by sharing the wealth.
|
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The first concerns their response to the recent onslaught of American shale production.
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Al-Falih last week said OPEC welcomed shale drillers back to the market.
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JOHN HESS: There are three major oil shale basins in the United States.
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And then we're going to do what investors want shale producers to do.
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Shale drillers also face competing priorities from different kinds of investors, said Abib.
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The county is home to the U.S.'s most productive shale gas deposit.
|
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The Marcellus shale formation stretches underground across Pennsylvania and into several other states.
|
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America's shale belt used to only be profitable with oil at around $100.
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U.S. oil production has soared, boosted by improved technology for tapping shale formations.
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For Cuadrilla, fracking the first horizontal shale well would mark a significant turnaround.
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However, Japan can increase U.S. imports, and shale gas would be mutually beneficial.
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With the "shale play" increasingly a manufacturing operation, these operational improvements become embedded.
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Tribeca welcomed BHP's comments that shale was no longer core to the company.
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