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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
CEO: Devon Eyes 3-Mile Williston Wells With $5B Grayson Mill Deal
2024-07-08 - Devon Energy is digging deeper in the Williston Basin of North Dakota through a $5 billion deal with EnCap-backed Grayson Mill Energy.
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2024-07-10 - Following the closing of its deal to acquire Mobile Energy Rentals, Solaris Oilfield Infrastructure will also be rebranding to Solaris Energy Infrastructure to more closely represent its expanded solutions offerings.
Come Together: California Resources, Aera Merge for Scale, Drilling Runway
2024-07-10 - California Resources Corp. closed an acquisition of Aera Energy to become California’s top oil and gas producer. Now, CRC President and CEO Francisco Leon wants to grow from a one-rig to an eight-rig drilling program—but faces stiff pushback from regulators and environmental advocates in the Golden State.
Blackstone Buys Enagás’ Tallgrass Stake for $1.1 Billion
2024-07-11 - Spain’s Enagás is selling its Tallgrass Energy interests to Blackstone Infrastructure Partners in exchange for some needed capital.
APA Closes Midland Basin, Eagle Ford Divestitures for $660 Million
2024-07-11 - APA Corp. and subsidiary Apache sold non-core assets in the Permian Basin and Eagle Ford Shale sooner than expected, and for less, as the company looks to reduce debt from its Callon Petroleum deal earlier this year.