[Due to the increasing size of the archives, each topic page now contains only the prior 365 days of content. Access to older stories is now solely through the Monthly Archive pages or the site search function.]
More Job Losses Coming To US Shale
July 22, 2015
By Gaurav Agnihotri for Oilprice.com
With the recently concluded nuclear deal between Iran and the P5+1 countries, oil prices have already started heading downward on sentiments that Iran’s crude oil supply would further contribute to the already rising global supply glut. The economic crisis in Greece, OPEC’s high production levels and China’s market turmoil have created more pressure on oil prices, making a price rebound look highly unlikely in the near future.
So, with the prices of both Brent and WTI moving towards $50 per barrel, the short to medium-term outlook for oil remains mostly bearish. This is bad news for the U.S. shale sector which is already dealing with rising debt and the ever-increasing risk of default.
U Calgary study finds oil shale most energy intensive upgraded fuel followed by in-situ-produced bitumen from oil sands
July 10, 2015
A team at the University of Calgary (Canada) has compared the energy intensities and lifecycle GHG emissions of unconventional oils (oil sands and oil shale) alongside shale gas, coal, lignite, wood and conventional oil and gas. In a paper published in the ACS journal Environmental Science & Technology, they report that lignite is the most GHG intensive primary fuel followed by oil shale. Oil shale is the most energy intensive fuel among upgraded primary fossil fuel options followed by in-situ-produced bitumen from oil sands.
Based on future world energy demand projections, they estimate that if growth of unconventional heavy oil production continues unabated, the incremental GHG emissions that results from replacing conventional oil with heavy oil would amount to 4–21 Gt-CO2eq over four decades (2010 by 2050). Taking this further, they estimated that the warming associated with the use of heavy oil amounts to this level of emissions could lead to about 0.002−0.009 °C increase in earth surface temperature, based on mid-21st century carbon-climate response model estimates.
As excitement builds in the Montney Shale, companies seek more infrastructure
December 03, 2014
by James Stafford of Oilprice.com
What does it take to build up a new region for oil and gas development? Obviously, the resources have to be in place and economically recoverable. But it is not as easy as just sticking a drill into the ground and pumping out oil and gas.
Even with significant oil and gas reserves trapped in shale, a variety of factors need to come together to turn a given region into a significant producer. To begin with, there needs to be enough companies willing to take risks on major drilling projects. Next, there needs to be enough capital behind those companies to make projects viable. And once explorers find and prove commercial quantities of oil and gas, there needs to be infrastructure in place to move the energy to market.