Shale Oil

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.

According to people familiar with the matter, the US major is undertaking a pilot program using excess natural gas that would otherwise be flared from its Bakken oil wells to power cryptocurrency-mining operations.

Speaking on March 21, Argentine oil company YPF's Chief Executive Officer Sergio Affronti said that his company aims to double its crude output over the coming five years to some 450K b/d to take advantage of the ongoing rise in oil prices "and widespread geopolitical uncertainty."

Reuters reported on March 15, citing interviews with a dozen sources in the industry, that a "new boom" in mergers and acquisitions (M&A) activity is emerging within the US shale space.

On March 7m the two shale firms announced that they have entered into an agreement to combine in a $6B "merger of equals" transaction.

As oil prices and demand continue to ramp upwards, US shale output continues to post strong growth. The EIA is forecasting that US shale output will rise by 109.0K b/d from Feb. levels to 8.7MM b/d this month, with Permian Basin output set to hit a record 5.2MM b/d in March.

Smaller US producers are keeping shale output steady while majors are targeting growth.

The EIA wrote in its latest monthly Drilling Productivity Report (DPR) released on Feb. 14 that US shale production is set to grow by another 109K b/d from Feb.'s output of 8.598MM b/d to 8.707MM b/d.