LONDON, Dec 11 (Reuters) – Shale oil and gas production will
become a lot cheaper as the industry absorbs and shares lessons
of advanced fracturing techniques, accelerating along a learning
curve that started in the 1940s.
The concept of a learning curve is most often used with
clean energy technologies such as wind power and solar.
LONDON, Dec 10 (Reuters) – North American oil and gas
production is on the verge of another revolution as older
drilling rigs are replaced by equipment that can drill the same
well in half the time and bore much longer horizontal sections
The number of land-based rigs drilling for oil and gas in
the United States has fallen 12 percent since November 2011,
according to oilfield services company Baker Hughes
LONDON, Dec 7 (Reuters) – The Obama administration will find
it almost impossible to refuse permission for more liquefied
natural gas (LNG) exports now that a report from outside
consultants has concluded unequivocally that exports would be a
net benefit to the U.S. economy.
Current law requires the Department of Energy to approve
export applications unless it can show they are not in the
public interest, which will be hard to do given that a detailed
economic study has now concluded the extra revenues from export
sales will more than offset the impact of higher domestic gas
prices on consumers and energy-consuming businesses.
LONDON, Dec 6 (Reuters) – The more liquefied natural gas
exports that the United States permits, the bigger the net
benefit to its economy, according to a detailed report
commissioned by the U.S. Department of Energy.
But if the report is unequivocal about the economic
benefits, the politics are more complicated.
LONDON, Dec 5 (Reuters) – Hydraulic fracturing to produce
oil and gas has become closely associated in the public mind
with the risk of triggering man-made earthquakes. But the risk
is not high and it is not confined to fracking.
There may be greater danger from geothermal energy
production and pumping carbon dioxide underground as part of
carbon capture and storage projects.
LONDON, Nov 28 (Reuters) – Oklahoma could be on course to
see the next big increase in oil and condensates production,
following North Dakota and Texas, as innovative drilling
companies move in to explore the liquids-rich sections of the
Woodford shale under the western half of the state.
Oklahoma is a very old oil producer: the first oil was
discovered in 1897, a decade before Oklahoma was admitted to the
LONDON, Nov 27 (Reuters) – For the past year, 1,000 metric
tonnes a day of carbon dioxide from the Archer Daniels Midland
ethanol plant at Decatur have been pumped into a sandstone
reservoir 7,000 feet beneath the corn fields of Macon County,
By its first anniversary last week, the project had injected
317,000 metric tonnes of carbon dioxide (CO2), almost a third of
the planned total of 1 million tonnes.
LONDON, Nov 26 (Reuters) – Plentiful and cheap supplies of
natural gas, coupled with near-record prices for diesel and
gasoline, provide a seemingly ideal environment for projects
that convert natural gas into liquid transportation fuels. Yet
most gas producers have hesitated to commit to new projects.
Gas-to-liquids (GTL) beats other options like pipelines,
liquefied natural gas (LNG) and compressed natural gas (CNG) for
smaller gas deposits stranded thousands of kilometres from
LONDON, Nov 22 (Reuters) – Businesses and households expect
reliable electricity to be available at the flick of a switch.
But the frequency of large-scale blackouts in the United States
has not fallen in the last 30 years, and big blackouts remain a
common occurrence throughout emerging markets.
The risk of massive failures affecting the supply to
millions of customers and darkening whole regions or countries
may even be increasing as demand rises, especially for air
conditioners, and electricity networks are integrated over
increasingly wide areas.
LONDON, Nov 21 (Reuters) – Crude production from the Bakken
and Three Forks formations could rise by another 50-100 percent
in the next three years, and not start to decline until 2020 or
even 2025, according to official projections from the North
Dakota Oil and Gas Division.
Output from the Bakken, Three Forks and Sanish formations
hit a new record of 662,000 barrels per day in September. But
production could reach 900,000 or even 1.2 million barrels per
day by 2015, according to the Oil and Gas Division, based on
estimates of probable (>50 percent) or possible (>10 percent)
reserves of 10 or 15 billion barrels respectively.