Shale Oil

Europe's oil majors have made forays into the US shale industry, which was at a production advantage following the 2014 market collapse due to its low-cost, high-margin nature.

First the good news: shale output will rise in Sept. on record Permian Basin output, according to the EIA's latest Drilling Productivity Report released on Aug. 15.

The Globe and Mail reported on Aug. 9 that Germany, which banned fracking for shale gas in 2017, is now reconsidering this ban amid the ongoing energy squeeze being brought on by the phaseout ...

With US shale firms set to report strong 2Q earnings amid the ongoing recovery in energy demand and prices—Bloomberg estimates that combined free cash flow at the top 28 independent US oil producers will exceed $25B for 2Q—several of these firms announced plans to boost capital spending and output to further capitalize on higher demand and prices.

China National Offshore Oil Co. (CNOOC) announced the country's first offshore commercial shale oil and gas discovery at the Weiye 1 wildcat well in the Beibu Gulf in the South China Sea.

On July 19, the Chinese state energy major said had commenced production of 231 b/d of shale oil and 1.5K m³ (53.0K cf)/d of shale gas from exploration well Hua-2-ce in the mature Jiangsu oilfield in the eastern part of the country.

Colombia's Administrative Court of Santander overruled an April 2022 decision from the lower First Administrative Court of Barrancabermeja allowing the Colombian state energy firm to proceed with its two pilot fracking projects, ...

Reuters, citing Callon Petroleum, reported re-fracking of US shale wells is on the rise as shale firms look to boost output while minimizing the investment needed to bring new shale wells online.

The South American nation reported on June 21 that its shale oil and gas output last month hit a record, spurred by continued development of the country's vast Vaca Muerta shale play.

According to the EIA's latest Drilling Productivity Report (DPR), output from the seven major US shale formations is set to rise by 143K b/d from June to 8.901MM b/d in July.