Average crude prices: Brent $47/b in August 2015, a 10% decrease from July; Crude oil forecasts: Brent $54/b in 2015 and $59/b in 2016, and WTI prices to average approximately $5/b below Brent. U.S. oil production fell 140,000 b/d in August when compared to July, and expected to decline through mid-2016. Natural gas working inventories 18% higher than a year ago.
DetailsThe United States is moving away from the necessity to import large volumes of natural gas for its domestic requirements. Over the last few years it has become possible to produce vast amounts of shale gas that was previously uneconomic to extract. Between 2007 and 2012, shale gas production in the U.S. rose from 1.3…
DetailsThe following table is a combination of the information provided by the study “An Assessment of 137 Shale Formations in 41 Countries outside the United States”, June 2013, produced by the Energy Information Administration and Advanced Resources International, Inc (EIA-ARI), and the “British Petroleum Statistical Review of World Energy, 2013”. In order to make the…
DetailsAlgeria Algeria’s hydrocarbons basins hold two significant shale gas and shale oil formations: the Silurian Tannezuft Shale and the Devonian Frasnian Shale. The Energy Information Administration, Advanced Resources International, Inc (EIA-ARI) report World Shale Gas and Shale Oil Resource Assessment, June 2013, which analyses the Ghadames (Berkine) and Illizi Basins in eastern Algeria, the Timimoun,…
DetailsRussia and China will lead the way in the production of resources from shale after the US according to executives at the Financial Times Global Commodities Summit in Lausanne, Switzerland, as reported in April by Rigzone. Torbjorn Tomqvist, chief executive of trading house Gunvor said (…) it was clear that shale production on a similar…
DetailsA General View Starting From The U.S.A. Are other countries going to have the same experience with regard to shale oil and gas as the United States has had recently? What about China, Russia, and Europe, and the other parts of the world? Shale’s potential can be appreciated by a brief examination of the…
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