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Economy

Saudi Arabia To Invest In US Shale

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https://oilprice.com/Latest-Energy-News/World-News/Saudi-Aramco-Plans-Shale-US-Shale-Gas-Move.html

 

I deserve to make the first world news thread :shady:

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Saudi Arabia wants to invest in US shale in the Marcellus formation as they seek to expand into natural gas

 

Natural gas is being seen as the fossil fuel of the 21st century. With lower emissions than crude oil and coal, it is a great transition fuel into cleaner energy!

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YAAAAAAAASSSSSSSSS @Economy

It's actually interesting that Saudi Arabia wants to invest in US shale because not too long ago, we were getting our oil from them.

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Just now, ARTPOPSTER said:

YAAAAAAAASSSSSSSSS @Economy

It's actually interesting that Saudi Arabia wants to invest in US shale because not too long ago, we were getting our oil from them.

I know. Now the middle East is hardly relevant to US supply

 

US produces over 60% of its equivalent consumption now and Canada fills most of the rest and Mexico 2nd most after Canada

 

Only a fraction of US imports are now from the Saudis!

 

Let's see if US shale can sustain momentum tho. Unlike other types of oil extraction shale has an extremely short life cycle. It's quick to set up new projects but each field depleates quickly also

 

It makes it easy to grow production fast but at the same time once resource is exhausted or best acrage used up it could decline fast in a few years...

 

Some analysts say US shale could peak in production in as little as 4-5 years depending on oil prices and technological developments to further improve recovery rates

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1 minute ago, Economy said:

I know. Now the middle East is hardly relevant to US supply

 

US produces over 60% of its equivalent consumption now and Canada fills most of the rest and Mexico 2nd most after Canada

 

Only a fraction of US imports are now from the Saudis!

 

Let's see if US shale can sustain momentum tho. Unlike other types of oil extraction shale has an extremely short life cycle. It's quick to set up new projects but each field depleates quickly also

 

It makes it easy to grow production fast but at the same time once resource is exhausted or best acrage used up it could decline fast in a few years...

 

Some analysts say US shale could peak in production in as little as 4-5 years depending on oil prices and technological developments to further improve recovery rates

Where exactly is there shale in the US? I heard something about BP investing more in shale in the Gulf of Mexico.

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Posted (edited)
30 minutes ago, ARTPOPSTER said:

Where exactly is there shale in the US? I heard something about BP investing more in shale in the Gulf of Mexico.

There's many many shale formations

 

But there's 7 that are major enough for them to actually he relevant in the industry and production to be tracked monthly by the EIA. Of those 7 there's 4 that make up the vast majority of activity:

 

Permian (Texas): this is the biggest one and still growing the fastest. This one alone is 1/4 of all US production and over 1/3 of US Shale Oil

 

Eagle Ford (Texas): this one is close to the Permian and is also big for oil production

 

Bakken (North Dakota & Canada): Also big for shale oil. The Bakken is in North Dakota and also goes into Canadian border

 

Marcellus: This shale basin is also very large but this one unlike the other 3 doesn't produce much oil. It's mostly Natural Gas

 

Canada also has a couple major shale plays besides the Bakken that crosses into the border. The Duvernay and Montney in the Province of Alberta are both quite large shale basins as well

 

The Permian in Texas tho is by far the most oil rich tho. It's the one that makes up 1/3 of shale production and 1/2 of current shale growth. It also has about 70% of US shale reserves

Edited by Economy

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Ms Economy already serving the news in BillieDaily too :gaycat:

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1 hour ago, Andreu said:

Ms Economy already serving the news in BillieDaily too :gaycat:

Thank Christ. I want this section to be lit.

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On 5/10/2019 at 5:46 AM, Didymus said:

Thank Christ. I want this section to be lit.

:shady:

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