fracking

U.S. Shale Has A Glaring Problem

Oil prices are down a bit, but are still close to multi-year highs. That should leave the shale industry flush with cash. However, a long list of U.S. shale companies are still struggling to turn a profit. A new report from the Institute for Energy Economics and Financial Analysis (IEEFA) and the Sightline Institute detail the “alarming volumes of red ink” within the shale industry.

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Permian Basin Map

Is Peak Permian Only 3 Years Away?

The Permian Basin is the largest petroleum-producing basin in the United States and has produced a cumulative 28.9 billion barrels of oil and 75 trillion cubic feet of natural gas. Currently, nearly 2 million barrels of oil a day are being pumped from the basin. It has been estimated that 43 billion barrels of oil and 18 trillion cu. ft. of gas remain; however, some experts claim the content is much bigger than expected, half a trillion barrels or even 2 trillion barrels. Eighty percent of estimated reserves are located at less than 10,000-foot (3,000 m) depth. Advances in hydrocarbon recovery such as horizontal drilling and hydraulic fracturing aka. “fracking” have expanded production into unconventional, tight oil shales… But is it possible that the current Bonanza in Oil production could come to a rapid end?

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Offshore Oil Rig Fracking

New EPA Rule Requires Chemical Disclosure for Offshore Fracking

The environmental impact of “fracking” has been the subject of some debate in recent years. It is the process of pumping water and some other agents into oil wells under pressure in an effort to open cracks in the rock and allow the oil and gas to get out. This process is largely responsible for the massive expansion in U.S. natural gas production allowing us to approach energy independence. So oil companies are very protective of the technology. Environmentalists on the other hand have ascribed everything from water pollution, drought and earthquakes to the process. In today’s article, we will look at a new wrinkle to the fracking debate relating to off-shore fracking.

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