Posted May 19, 2015
Oil and Gas Investor: The technology that fueled the U.S. shale revolution could breathe new life into old oil fields outside of North America.
More than 170 mature oil plays worldwide have the potential from horizontal drilling and hydraulic fracturing to produce as much as 141 billion barrels (Bbbl) of oil, according to an IHS report on May 13.
Of the estimated 141 Bbbl of potentially recoverable oil using unconventional techniques, 135 Bbbl exist in plays that would likely require hydraulic fracture stimulation to produce. Roughly 6 Bbbl sit in plays that may not require hydraulic fracturing.
Posted May 12, 2015
Encana President and CEO Doug Suttles participated in the U.S. Chamber of Commerce’s CEO Leadership Series last week with a luncheon address and a Q&A session with Linda Harbert of the Institute for 21st Century Energy. Highlights of the conversation below. Suttles joined Alberta-based Encana as president and CEO in June 2013. He has 30 years of oil and natural gas industry experience in various engineering and leadership roles. Before joining Encana, Suttles held a number of leadership posts with BP, including chief operating officer of BP Exploration & Production and BP Alaska president.
Q: You opened your talk by saying I’m a North American energy company. … Can you shed a little light on the differences and similarities between operating in Canada and the U.S.?
Suttles: They’re not as big as many people would think. First of all, in the places we operate – Colorado, Wyoming, New Mexico, Texas, Louisiana and Mississippi, and then Alberta and British Columbia – these are all natural resource states, and they understand that and I think the people and political leaders understand the importance, too. Both countries have high environmental expectations.
Probably the biggest difference you’d really see between them is the remoteness of operations, which creates a unique challenge in Canada. Many of our operations are away from large towns and cities … But you have an environment where I think people understand the benefits of our industry. They promote the industry, they support it.
Posted September 26, 2014
There’s more evidence that the U.S. oil and natural gas industry is driving economic growth – not just in the industry itself, but also in the vast supply chain that sustains energy development – adding to overall GDP, wages and revenues to government.
A new IHS study, commissioned by the Energy Equipment & Infrastructure Alliance (EEIA) estimates that employment growth in the supply chain that supports unconventional oil and natural gas development – that is, energy from shale and other tight-rock formations with advanced hydraulic fracturing and horizontal drilling – will outpace, by a more than a 2-to-1 margin, the U.S. average from 2012 to 2025.
Posted April 28, 2014
An infographic that clearly illustrates America’s choice on shale energy: significant economic growth, job creation and generated revenue for government because of continued energy development – vs. lost opportunity in all three areas if development is restricted.
The information is from IHS’ study on the economic impacts of unconventional oil and natural gas development – energy from shale and other tight-rock formations, safely and responsibly produced with advanced hydraulic fracturing and horizontal drilling.
Posted February 19, 2014
The outlook for U.S. energy from shale and other tight-rock formations just keeps improving. Two new assessments underscore this.
First, a panel hosted this week by CSIS revisited the National Petroleum Council (NPC) report on U.S. unconventional natural gas issued in 2011 and concluded that new discoveries and technologies paint an even brighter picture than NPC did nearly three years ago.
Posted September 18, 2013
Oil and natural gas development from shale is creating jobs and building the economy, providing America with a distinct competitive advantage in the world, API Chief Economist John Felmy told the National Association of Energy Officials this week in Denver. Felmy:
“The oil and natural gas industry has strengthened the U.S. economy by creating jobs, increasing household wealth, and securing America's future. If Congress and the administration are willing to support America’s domestic energy production, oil and natural gas are poised to fuel an economic renaissance."
Posted September 6, 2013
Posted October 29, 2012
Posted May 30, 2012