Shale Oil

Shale has made up a large portion of the US's total production over the past decade with tight-oil output growing from around 830K b/d in 2010 to 7.75MM b/d in 2019.

A new analysis from BloombergNEF, which puts the breakeven cost in the Delaware Basin shale play in Texas at $33/bbl, down from $40/bbl last year.

National Oilwell Varco, Inc. (NOV) and NexTier Oilfield Solutions Inc. said they would work together to deploy NOV's electric hydraulic fracturing (e-frac) technology "Ideal eFrac."

Even though oil prices continue to remain in the $30/bbl-range, operators of hydraulic fracturing fleets have increased by 50% since the middle of Sept.

Executives with the Argentine state energy firm is ramping activity back up in the Vaca Muerta shale play as it aims to offset natural declines in oil and gas output from conventional reserves with Vaca Muerta output over the next three years.

This year, the coronavirus-induced collapse in oil demand and oil prices has led to mergers in the US shale industry.

Joining global oil majors, US shale companies ConocoPhillips and Occidental Petroleum are aiming to decarbonization their operations.

Even prior to the onset of the COVID-19 pandemic that has devastated global energy demand and prices, many US shale producers were already in financial distress.

On Oct. 15, the Argentine government unveiled a new stimulus plan seeking $5.0B in investment from energy producers to further develop the country's Vaca Muerta shale play.

According to the US EIA, domestic crude production will decline by 800K b/d from 2019 levels to 11.45MM b/d, an improvement from its prior forecast when the EIA forecast US crude output to fall by 870K b/d this year.