· Main factors behind the recent growth of domestic oil and natural gas production are the improvements in drilling efficiency and increase in new well productivity.
· Seventy-five percent of the current monthly oil production growth came from the Bakken and Eagle Ford regions.
· Marcellus alone accounted almost 75% of natural gas production growth.
The report covered six regions which accounted 90% of domestic oil production growth. The article also mentioned the impact of new technology in measuring productivity growth. Old traditional measures were disregarded such as counting active rotary drilling rigs. The report considered recent information including rig productivity, average oil and natural gas production rates from new well during their first full month of operation, and estimated changes in production from existing wells.
Another featured article in the website talks about the latest statement from Rystad Energy about the global expansion of the shale gas industry. Rystad’s senior partner and head of data analysis Magnus Nysveen stated that it is highly unlikely to have another successful shale mining operation in other regions of the world. Nysveen pointed out geology as the key limiting factor for global shale expansion. “The most proven shale formations in North America are all marine sediments deposited in tropic waters from Devonian (Bakken) to Cretaceous (Eagle Ford) in anoxic conditions in deep waters of the Western Interior Seaway. The pre-historic volcanic arc that today makes up the Rocky Mountains protected the ocean bed from ocean currents rich in oxygen. High content of silica or calcite versus clay make these shales exceptionally brittle while also sufficiently rich in organic content.” he said.
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ShaleGasBusiness.com is a resource website for the shale gas industry. It contains articles and information about the recent trends and development in the industry. The company’s complete address is Shale gas Business, 11-13 Bayley Street, Bloomsbury, WC1B 3HD, London, UK. Their email address is firstname.lastname@example.org.
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