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
Mighty Midland Still Beckons Dealmakers
2024-04-05 - The Midland Basin is the center of U.S. oil drilling activity. But only those with the biggest balance sheets can afford to buy in the basin's core, following a historic consolidation trend.
Aethon’s Far Western Haynesville: Three Wells, 17.5 Bcf and Still Roaring
2024-02-05 - Aethon’s wells show no signs of flatlining—and neither are Comstock Resources’ tests, one of which has already reached nearly 50% of its previously estimated EUR.
Life on the Edge: Surge of Activity Ignites the Northern Midland Basin
2024-04-03 - Once a company with low outside expectations, Surge Energy is now a premier private producer in one of the world’s top shale plays.
Analyst: Chevron Duvernay Shale Assets May Sell in $900MM Range
2024-01-29 - E&Ps are turning north toward Canadian shale plays as Lower 48 M&A opportunities shrink, and Chevron aims to monetize its footprint in Alberta’s Duvernay play.
Silver Hill Energy Enters Bakken with Liberty Resources Acquisition
2024-01-31 - Silver Hill Energy Partners LP is getting into the Bakken in North Dakota through the acquisition of Liberty Resources II.