Shale ///

OPEC deal unlikely to lift oil prices for long, World Bank says

OPEC’s power to help lift oil prices by curbing output will be tested by the ability of shale-oil producers and other unconventional suppliers to ramp up production, the World Bank said.

Shell divests shale acreage in Western Canada for $1 billion

Royal Dutch Shell, through its affiliate Shell Canada Energy, has agreed to sell approximately 206,000 net acres of non-core oil and gas properties in Western Canada to Tourmaline Oil Corp. for a total consideration of approximately $1,037 million.

Chesapeake declares ‘propageddon’ with record frac job

The era of the monster frac has arrived in North America, and Chesapeake Energy Corp. is singing its praises.

Halliburton, U.S. Silica break record for moving largest sand unit train in North America

Halliburton and U.S. Silica Holdings moved a record breaking unit train carrying nearly 19,000 tons of U.S. Silica White frac sand from Ottawa, Ill., to Elmendorf, Texas.

OPEC price war offers meager rewards as U.S. shale survives

When the Organization of Petroleum Exporting Countries started its price war, the U.S. shale boom looked doomed.

Halliburton ready to sacrifice market share to boost profit

After boosting North American sales for the first time during the downturn, Halliburton is determined to raise prices for its services to lock in profits in the world’s largest fracing market.

Exxon Mobil CEO doesn’t see supply shortage pushing up oil prices

The world’s largest publicly listed oil company says ample production from U.S. shale regions will keep prices subdued for years to come, disagreeing with others in the industry who have warned about a looming shortage. Rex Tillerson, chief executive officer at Exxon Mobil, presented an upbeat view of how technology will allow companies to pump more, preventing a price “blow out” in the future.

Oasis’ Bakken deal shows play still has life as costs drop

Oasis Petroleum’s double-down on North Dakota’s Bakken shale shows the rapid drop in U.S. drilling costs can make a case for even the ugly ducklings of American shale plays.

Casillas Petroleum acquires SCOOP acreage from Continental

Casillas Petroleum Resource Partners, a partnership between Casillas Petroleum Corp. and Kayne Anderson Energy Funds, has closed on the purchase of certain oil and gas assets owned by Continental Resources in the SCOOP play in Oklahoma for an adjusted purchase price of $294 million.

Oil seen stuck in $50 to $60 range as shale offsets OPEC action

The world should get used to oil prices between $50 and $60/bbl as falling costs in America’s shale fields counteract OPEC’s renewed commitment to supply management.

Newfield CEO sees cautious approach on ‘huge’ Oklahoma oil find

Don’t expect a major ramp-up of oil production in Oklahoma’s hot new shale plays any time soon, even as companies invest billions of dollars in the region, said Newfield Exploration Co.’s CEO.

Williams’ $3-billion shale gas pipeline faces another setback

Williams Partners LP is facing yet another setback for a $3-billion pipeline project that would carry natural gas out of shale formations in the eastern U.S.

U.S. oil output slide seen slowing as shale drillers return

Increased drilling by shale producers buoyed by higher prices will slow the decline in U.S. crude production, a government forecast showed.

U.S. set to double the shale gas it sends overseas

The United States is set to double the volume of shale natural gas it’s sending abroad.

Enhanced bearing pack technology improves motor reliability

Peter Shwets, Claire Kennedy, National Oilwell Varco; Omar Marsa, Compass Directional Services Ltd

To get the maximum performance from new power sections, downhole motors require bearing assemblies that can reliably withstand ever-increasing torque loads.

New products and services

Emily Querubin, World Oil

New products and services

U.S. shale output seen surging if crude reaches $60

Crude prices of $60/bbl would probably trigger a strong increase in North American oil production while trimming global demand growth, the head of the International Energy Agency said.

As UK gives nod to fracing, a U.S.-style shale boom remains far away

Four wells are better than none if you’re trying to assess whether your country could host the next shale boom—but it’s not nearly enough.

Cuadrilla wins two-year UK frac fight

Cuadrilla Resources won government permission to hydraulically fracture for natural gas in northern England, ending a two-and-a-half-year battle that veered into debates about the legacy, prosperity and stewardship of Britain’s countryside.

GE drones are coming to squeeze more savings from the oil patch

General Electric has a solution for U.S. oil and natural gas explorers struggling to save more money after squeezing drilling costs by more than a third during the past two years.