Posted May 23, 2014
There have been some really interesting reactions to this week’s Los Angeles Times story on an upcoming federal report that the Times said will significantly lower the estimated amount of recoverable oil in California’s vast Monterey Shale play, believed to be the nation’s largest shale play.
Opponents of domestic oil production, which is helping drive an energy renaissance in the United States, rejoiced. One group said billions of barrels of oil just went poof! – like some sleight-of-hand trick. Someone else posted a fairly tone-deaf tweet, that California’s economic boom from shale production was being crushed. (“Let’s hear it for lost economic opportunity!”)
Others – folks who know the oil and natural gas industry and who understand how “recoverable” reserves are calculated – had different takes. You have to, especially when you think about all that’s been learned over the history of U.S. oil and natural gas development.
Posted May 23, 2014
Fracking has a history – and now it has an official definition, one of the new entries in the 2014 Merriam-Webster Collegiate Dictionary. It’s nice to be thus recognized, though we suspect the term has been around in industry circles longer than 1953, as the dictionary states, since the commercial process dates to 1949.
One of the states where hydraulic fracturing has been used for decades is Ohio. In the video below, Ohioans talk about how fracking got its start there in the 1950s. Nowadays, the combination of advanced hydraulic fracturing and horizontal drilling is being used in new wells and to revitalize old ones, they say.
Posted May 21, 2014
In Ohio, they’re seeing the benefits of oil and natural gas development with advanced hydraulic fracturing and horizontal drilling. This “unconventional” activity generated more than $910 million in state and local taxes in 2012 – a number that should grow as development accelerates in the Utica shale that sweeps across the eastern part of the state.
In the video below, residents of Carroll County, located just southeast of Canton, talk about oil and natural gas benefits where they live.
Posted May 20, 2014
The video below details industry’s hydraulic fracturing experience in Colorado, a state whose oil and natural gas potential is being realized thanks to advanced fracking and horizontal drilling built on a rich history of safe and responsible drilling.
As the speakers point out, the Denver-Julesburg (or D-J) Basin has been operating commercially for nearly 150 years. Modern hydraulic fracturing has grown from the days of trying various types of fracking fluids and recycled aircraft engines to carefully formulated mixtures designed to produce tiny fractures in deep rock layers that hold oil and natural gas.
Posted May 14, 2014
A couple of charts from energy/economics blogger Mark J. Perry really show the fundamental rewriting of the United States’ energy narrative – as a result of surging domestic oil and natural gas production. Both charts, developed from data in the U.S. Energy Information Administration’s (EIA) annual energy outlook, indicate that the U.S. is rapidly moving toward energy self-sufficiency – the point at which domestic output lowers net imports to zero.
Posted May 6, 2014
The major themes of the 2014 International Oil Spill Conference – prevent, prepare, respond, restore – reflect the priority industry places on safety in transporting oil and petroleum-based products.
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 April 23, 2014
Posted April 17, 2014
Posted April 11, 2014
Earlier this week the U.S. Energy Information Administration (EIA) blew back a lot of folks’ hair with the high oil-production scenario in its 2014 Annual Energy Outlook – projecting for the first time ever that the net import share of U.S. petroleum and other liquids could reach zero. By 2037. That’s amazing considering that less than a decade ago the import share was nearly 60 percent.
Next from EIA: New data on growing U.S. crude oil and lease condensate reserves – more evidence of the ongoing U.S. energy revolution.