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Shale rock formations have provided operators a resource in which record amounts of oil have been produced. (Source: Koushik C, Unsplash.com)
George Mitchell spent a lot of time and certainly a lot of money trying to crack the secret of the Barnett Shale. And even after he found success, many people doubted that this whole unconventional thing would ever amount to much.
We’ve learned a thing or two since then. In North America alone, McKinsey Energy Insights estimates U.S. shale oil production will reach about 9 MMbbl/d by 2025. Total capex will grow at 25% per year through 2021, and drilling and completions will grow by 20% per year over that same time frame. Even as shale plays tipped the balance of supply and demand, operators found ways to do things for less, and McKinsey’s “North American Shale Oil Perspective” report noted that the Permian Basin’s core breakeven price is less than $41/bbl in 2017.
The October cover stories contain a snapshot of just how creative operators and service companies have become in tackling these challenging plays.
This month's cover story topic was shales. Read each of article:
Using buoyancy-assisted casing equipment to extend lateral reach
Recommended Reading
Trio Chairman Robin Ross Named CEO Less Than a Month After Return
2024-07-15 - Robin Ross, who last month returned to Trio Petroleum as board chair, has been named CEO while predecessor Michael Peterson will remain as a consultant.
Riley Permian Increases Stake in West Texas Power JV with Conduit
2024-05-22 - Riley Exploration Permian increased its ownership in RPC Power, a JV with Conduit Power, to 50% from 35% and has agreed to sell up to 10 MMcf/d of natural gas as feedstock supply for the generation facilities as RPC plans to sell to ERCOT.
Earthstone’s Anderson Relaunches, Seeks Conventional
2024-05-24 - The new E&P PetroPeak Energy will also take a look at unconventional property in the Eagle Ford and Austin Chalk.
Permian Resources Completes Liquidation of Canada’s Lynden Energy
2024-05-28 - Permian Resources said the liquidation of Lynden Energy, a subsidiary of Earthstone Energy, will simplify its corporate structure and reduce go-forward tax obligations at the time of the Earthstone acquisition.
Hess Shareholders Approve Chevron Merger
2024-05-28 - Hess Corp. stockholders voted in favor of the company’s merger with Chevron Corp. during Hess’ May 28 special meeting.