Subscribe free to our newsletters via your
. Farming News .




OIL AND GAS
U.S. shale oil shows resiliency
by Daniel J. Graeber
Houston (UPI) Feb 18, 2015


disclaimer: image is for illustration purposes only

Despite the slump in crude oil prices, production from two premier basins in the United States increased by a combined 33 percent, a forecast from Platts finds.

Oil prices dropped more than 50 percent from June to January, leaving energy companies without the revenue stream necessary to continue robust exploration and production operations in 2015.

Bentek Energy, a forecasting unit of Platts, finds oil production in Texas and North Dakota, the No. 1 and No. 2 producers in the nation, respectively, increased.

For the Eagle Ford basin in southern Texas, Bentek found production in January was 1.6 million barrels per day, a 37 percent increase year-on-year.

"Rig count in the Eagle Ford dropped by 33 rigs since the beginning of the year, while production managed to increase slightly," Catherine Bernardo, Bentek Energy manager of energy analysis, said in a Tuesday report e-mailed to UPI.

Rig count is a reflection of the number of rigs actively exploring for or producing oil and natural gas. In North Dakota, the 135 active drilling rigs as of Wednesday marked a 35 percent decline from the historic peak reached in 2012.

The decline in rig activity has yet to translate to a drop in oil production. Bentek found January crude oil production from the Bakken reserve area in North Dakota was 1.2 million bpd in January, a 28 percent increase from the same month in 2014.


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
All About Oil and Gas News at OilGasDaily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle








OIL AND GAS
Halliburton, Baker Hughes plan stakeholder meeting
Houston (UPI) Feb 18, 2015
Oil and gas services companies Baker Hughes and Halliburton unveiled plans to review stakeholder options for the planned Halliburton takeover. Halliburton made a move to acquire rival Baker Hughes in November. David Lesar, Halliburton's top executive, said the combined company would create a "bellwether global oilfield services company" that would trade under the Halliburton ticker, HA ... read more


OIL AND GAS
Mud Matters

NASA Study Shows Global Sea Ice Diminishing, Despite Antarctic Gains

ORCA Prototype Ready for the Open Ocean

Plant power from above

OIL AND GAS
China, Russia strengthen satellite navigation cooperation

India Interested in Russia's Glonass Satellite Navigation System

Latest Galileo satellites reach launch site

PLA drill applies China's own GPS

OIL AND GAS
Colombia seeks 'environmental corridor' across Andes, Amazon

Canada goes to WTO in China wood pulp row

Long-term changes in dead wood reveal new forest dynamics

Elephant patrols seek to protect Indonesia's rainforests

OIL AND GAS
Electricity from biomass could make western US carbon-negative

Second Generation Biofuels Market is Expected to Reach $23.9 Billion

Understanding air pollution from biomass burners used for heating

Biologists partner bacterium with nitrogen gas to make cleaner bioethanol

OIL AND GAS
AORA Solar's Ethiopia Pilot Project Takes Step Forward

US and Japan to account for almost half of global solar PV inverter revenue

Lockheed selects advanced roofing to construct large solar energy array

Ikaros Solar and Esdec BV Join Forces

OIL AND GAS
Wind energy: TUV Rheinland supervises Senvion sale

Bright spot for wind farms amid RET gloom

Allianz acquire OX2 wind farm in northern Sweden

No surprises for wind industry in NHMRC report

OIL AND GAS
China utilizing coal mine emissions for power

China coal mine explosion kills 11: Xinhua

Coal mine fire kills 26 in China: Xinhua

OIL AND GAS
China expels senior official from ruling party

China official's mandatory 'two children' proposal draws rebuke

Former Chinese propaganda chief Deng Liqun dies

China official's son beats man to death in dog attack row




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.