Space Industry and Business News  
OIL AND GAS
A tale of two shales in Texas
by Daniel J. Graeber
Washington (UPI) Feb 1, 2017


disclaimer: image is for illustration purposes only

The Permian shale oil basin in the southern United States is among the few to show gains even during the market downturn, a federal report finds.

Overall, the shale oil basins in the United States have been more resilient than expected during the market downturn that began in mid-2015. In a recent forecast, the U.S. Energy Information Administration predicted a slight increase in total U.S. oil production for 2017, a reversal of estimates last year that forecast a decline.

Texas remains the No. 1 oil producer in the United States and the EIA said in a daily briefing that the Permian shale basin is the most durable in the country.

"Although overall U.S. oil production has been declining since mid-2015, production has continued to increase in the Permian region," the report read.

By EIA estimates, total Permian production last year was 5 percent above 2015 levels and is on pace to increase up to 15 percent this year.

Because of its large geographical size, EIA said Permian is a stand out because of heightened drilling potential.

Nearly half of all the activity in exploration and production in the United States took place in Texas

Elsewhere, the Eagle Ford region, which covers far less area than the Permian shale, has seen declining interest and activity. According to EIA, wells in Eagle Ford peak early and production has been in decline since early 2015.

Higher oil prices, however, should keep Eagle Ford in play at least through 2018 as market recovery improves the economics for other shale basins.

Emerging U.S. shale player Halcon Resources was the latest to reshuffle its deck in Texas by acquiring more acreage in the Permian shale after unloading assets in Eagle Ford. Anadarko Petroleum in late January agreed to sell off its assets in the Eagle Ford shale basin in Texas to Sanchez Energy Corp. and Blackstone Group for $2.3 billion.


Comment on this article using your Disqus, Facebook, Google or Twitter login.


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
All About Oil and Gas News at OilGasDaily.com






Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Previous Report
OIL AND GAS
Kuwaitis seek roots in upmarket tents under the stars
Al-Julaia, Kuwait (AFP) Jan 31, 2017
Nostalgic for their Bedouin roots, Kuwaitis like Ahmad al-Shimmari are following in the footsteps of their desert-dwelling ancestors living in tents under the stars - but with a touch of modern luxury. The former oil sector employee and 15 other men, all relatives and friends, are sharing one of six tents in a camp set up by his extended family for the entire winter close to the border with ... read more


OIL AND GAS
New white paper reviews latest support for Redefinition of the Kilogram by 2018

A new approach to 3-D holographic displays greatly improves the image quality

Melting solid below the freezing point

New class of materials could revolutionize biomedical, alternative energy industries

OIL AND GAS
Japan launches satellite to modernise military communications

Phasor teams with Thales to develop advanced broadband Smart Terminal

Airbus to supply French satellite communication systems

Northrop Grumman receives $140m BACN contract modification

OIL AND GAS
OIL AND GAS
Russia to Construct Glonass Satellite Navigation Station in Nicaragua

Clocks 'failed' onboard Europe's navigation satellites: ESA

Russia, China Work on Joint High-Precision Satellite Navigation System

Raytheon completes qualification testing of next-gen GPS Launch and Checkout System

OIL AND GAS
State Dept. approves $525 million aerostat sale to Saudi Arabia

Kazakhstan orders Russian Mi-35M helicopters

Nigerian air force, Comp Air Aviation to develop light utility aircraft

Army demos quadcopter resupply vehicle prototype

OIL AND GAS
Theorists propose new class of topological metals with exotic electronic properties

Apple legal fight with Qualcomm spreads to China

First step towards photonic quantum network

Chip-sized, high-speed terahertz modulator raises possibility of faster data transmission

OIL AND GAS
How satellite data changed chimpanzee conservation efforts

NOAA's GOES-16 Satellite Sends First Images to Earth

World's First Weather-Cracking Wind Satellite Aeolus to Improve Future Forecasts

Doubt over Everest's true height spurs fresh expedition

OIL AND GAS
Synthetic chemicals: Ignored agents of global change

How India's 'Garden City' became garbage city

Cookware made with scrap metal contaminates food

Research targets cookstove pollution using supercomputers and NASA satellites









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.