Shale Oil

The 9th US Circuit Court of Appeals upheld a 2018 district court decision that bans fracking in federal waters offshore California.

According to Rystad Energy, oil output from five major US shale plays (Bakken, Denver-Julesburg Basin, Eagle Ford, Permian Delaware, and Permian Midland) is set to increase by over 1.0MM b/d this year, led by the Permian Basin.

US oil output continues to rise as oil and gas firms boost activity to capitalize on rising oil demand and prices.

High levels of inflation across the energy sector are cutting into the capital spending plans of US shale producers.

Shale producers ConocoPhillips (COP), Coterra Energy Inc., Devon Energy Corp., and Diamondback Energy Inc. all announced plans to boost dividends and buybacks as part of their 1Q earnings results while maintaining oil output despite oil demand and prices continuing to rise.

Rising oil output from the Permian Basin shale play will drive overall US oil output higher this year.

Even though growth in the US shale industry has been declining over the past seven years, concerns over energy security, low crude inventories, and elevated oil prices are expected to lead to a "a turning point in the oil and gas capital-expenditure cycle," according to US investment bank and financial services firm Goldman Sachs (GS).

According to the EIA, output from the seven largest US shale plays will rise by 132K b/d in May from April levels to 8.649MM b/d according to its latest Drilling Productivity Report (DPR) as shale producers continue to boost investment and activity amid the ongoing rise in oil prices and demand.

British energy and chemical firm Ineos has written to the government in pursuit of a demonstration site to prove that shale gas fracking in the UK can be done safely.

According to a recently-published analysis from S&P Global Commodity Insights, oil and associated gas production from the SCOOP-STACK shale play is on the rise amid increasing drilling activity in the area.