Shale Oil

The ongoing rise in US shale output, led by the Permian Basin, is expected to continue over the coming months as US shale producers look to boost activity to capitalize on rising oil demand and prices.

Oil India USA, a subsidiary of Oil India Ltd. (OIL), has sold its entire 20% stake in the Niobrara shale play in the Denver-Julesburg Basin to Verdad Resources LLC for $25MM.

During the week of Jan. 10, the US major announced plans to sell shale assets in the US and Canada as part of an ongoing divestiture of some shale assets as the company looks to focus capital on its oil and gas assets offshore Brazil, offshore Guyana, and the Permian Basin.

The Chief Executive Officer (CEO) of shale producer EOG Resources Inc. Ezra Yacob said in a virtual energy conference hosted by Goldman Sachs Group Inc. that his company is

According to a Dec. 29 report released by the Federal Reserve Bank of Dallas, oil drillers in the largest US shale fields are now facing record costs for equipment, leasing, and other input costs for oil explorers and the contractors they hire.

According to the EIA's Dec.-13 Drilling Productivity Report (DPR), oil output from the Permian Basin is set to hit a record 4.960MM b/d this month as drillers in the play continue to ramp up spending and activity amid rising oil demand and prices.

Pioneer Natural Resources Co. Chief Executive Officer (CEO) Scott Sheffield said at the World Petroleum Congress in Houston, TX (US) on Dec. 7 that he believes mergers and acquisitions (M&A) activity within the US shale space will continue through the mid-2020s.

The Saudi state energy firm said that it is continuing its development of the Jafurah shale play in Saudi Arabia's Eastern Province, which Saudi Aramco said could produce up to 2B cf/d (57MM m³/d) of shale gas, ...

According to Rystad Energy, the 3Q reinvestment rate among 21 public US shale oil producers, excluding majors, fell to an all-time low of 46%, down from 53% in 3Q 2020, despite oil demand and prices continuing to rise.

The Chairman of Colorado-based shale driller Civitas Resources Inc. Ben Dell said that it has purchased carbon offsets that cover 1MM mt/y of carbon emissions from the company's oilfield operations and power and heat use, or so-called Scope 1 and 2 emissions.