Horizontally drilled wells now account for 96 percent of U.S. oil production from shale formations, as well as about 97 percent of shale gas production – up from 15 percent and 14 percent, respectively, in 2004 – according to a report from the U.S. Energy Information Administration. Horizontal drilling, used in conjunction with hydraulic fracturing
Read More...American shale production continues to dramatically reshape world energy markets—not only by lowering prices, but also by ensuring price stability, according to a new report by the Dallas Federal Reserve. From the report: “The oil price that companies need to profitably drill new wells has closely tracked prices for long-dated oil futures in recent years.
Read More...Just two months after the New York Times reported that Texas and New Mexico’s Permian Basin could surpass Saudi Arabia’s Ghawar oilfield to become the highest producing oilfield in the world in the next three years, data released this week provided a new take: It already did. Now we know the Permian basin is now
Read More...Lower heating costs – brought on by increased natural gas production from the shale revolution – reduced winter mortality rates from 2000 to 2010, according to a new National Bureau of Economic Research paper. As the NBER paper explains, “We find that lower heating prices reduce mortality in winter months. The estimated effect size implies
Read More...Surging production that made 2018 a banner year for U.S. oil and natural gas is carrying into the new year, data show. Success in shale development across the country spurred natural gas production to hit a new record high in 2018 for the second consecutive year. Meanwhile, oil production continues to outpace 2018’s record highs
Read More...Natural gas development in the Appalachian Basin continues to reshape the domestic energy landscape, as recent production reports from the region illustrate. New figures released by the Ohio Department of Natural Resources show production in the Buckeye state set a new state record in the latest quarter. Likewise, a recent report out of Texas shows
Read More...The United States is approaching the dawn of a new American energy era, marked by energy abundance, security and choice, speakers said at this year’s CERAWeek by IHS Markit conference in Houston. Thanks to the shale revolution, the United States now leads the world in oil and natural gas production. The International Energy Agency this
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