Subscribe free to our newsletters via your
. Military Space News .




OIL AND GAS
WTI price no shale threat
by Daniel J. Graeber
Houston (UPI) Nov 21, 2014


disclaimer: image is for illustration purposes only

The slump in crude oil prices hasn't yet resulted in a slowdown in production from shale basins in the United States, analysis finds.

Crude oil prices have fallen to the point that some major companies have trimmed their investment forecasts. It's more expensive to drill into shale basins in the United States than elsewhere in the world and the price may be approaching a point where explorers need to cut back.

"While current lower crude oil prices do present challenges for new investment, IHS analysis shows that the vast majority of potential U.S. supply growth in 2015 remain economical at $70 for West Texas Intermediate [the U.S. benchmark price]," Jim Burkhard, vice president at IHS Energy, said in a Thursday statement sent to UPI.

Data this week from the U.S. Energy Information Administration show oil production for the week ending Friday at 9 million barrels per day, a 13 percent increase from the same week in 2013.

WTI futures contracts show a price just above the $77 per barrel mark through 2015. IHS finds U.S. oil production from shale increases next year by around 700,000 bpd in that price scenario. That would be slower than growth this year, but still significant in relative terms.

A separate report from Platts finds oil production from the premier shale basins in the United States increased by about 4.5 percent in October, the last full month for which it has data.

"We believe that it would take prolonged and sustained downward price pressure to have an impact on drilling rates and production figures in 2015," analysis director Jack Weixel said in an e-mailed statement.

IHS said the break-even price for U.S. shale operations is in the range of $50 to $69 for WTI.


Thanks for being here;
We need your help. The Space Media 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.
SpaceMediaNetwork Contributor
$5 Billed Once


credit card or paypal
SpaceMediaNetwork Monthly Supporter
$5 Billed Monthly


paypal only


.


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






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

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








OIL AND GAS
One dead in Gulf of Mexico rig accident
New Orleans (UPI) Nov 21, 2014
There is no pollution associated with an explosion on a drilling platform about 12 miles off the coast of New Orleans in the Gulf of Mexico, a regulator said. The Bureau of Safety and Environmental Enforcement said it was notified by oil and gas operator Fieldwood Energy of an explosion on its Echo Platform. Fieldwood said one contract worker was killed and three other employees ... read more


OIL AND GAS
U.S Navy sending Aegis-equipped destroyers to Japan

U.S. holds test on Aegis tracking capability

Russia to Create Space-Based Ballistic Missile Warning System

LockMart and NGC Deliver Payload for Fourth SBIRS Satellite

OIL AND GAS
Destroyer simultaneously fires SM-2 and SM-3 missiles

Air Force orders more Paveway II Plus guided bomb kits

Exelis, Airbus offer missile warning capability for F-16s

Anti-missile system for airliners passes testing

OIL AND GAS
US can pursue 'reckless' drone flyers, panel rules

New Global Hawk support contract for Northrop Grumman

Altavian Inc., Lockheed Martin providing sensor payload to Army

Iran shows its copy of US drone in flight

OIL AND GAS
Harris Corporation supplying Falcon III radios to Canadian military

GenDyn Canada contracted to connect military to WGS system

Northrop Grumman continues Joint STARS sustainment services

Harris Corporation opens engineering support facility

OIL AND GAS
Raytheon touts its Agile software development process

First of 71 Finnish armored personnel carriers modernized

Air Force investigators tap A-T Solutions for software modifications

TSA orders desktop explosive trace detectors

OIL AND GAS
Nammo subsidiary buying Patria ammunition facility

Greece asks U.S. to continue sustainment support for its F-16s

U.S. lowers surcharge on Foreign Military Sales program contracts

Britain seeks to improve agency for military equipment

OIL AND GAS
NATO sees 'very serious' Russian military Ukraine build-up

Complex turns for Xi on China's diplomatic path

Hollande on first state visit by French president to Australia

Hollande pays first visit to Australia by a French president

OIL AND GAS
Thin film produces new chemistry in 'nanoreactor'

Penn engineers efficiently 'mix' light at the nanoscale

On-demand conductivity for graphene nanoribbons

Measuring nano-vibrations




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - 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. 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. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.