Oil and Gas Production and Export News, May 20, 2014

  • by BPC Staff
  • on May 20, 2014

Companies invest $120B as result of U.S. shale gas growth
The U.S. shale natural gas boom has led to companies investing a combined $120 billion in North American export projects, according to an analysis conducted by technology research firm Lux Research. These investments, which could raise domestic gas prices, are companies’ attempts to capitalize on the flourishing global liquefied natural gas market, the firm said. USA Today (5/16)

It would be difficult to replicate U.S. shale boom, expert says
The shale boom will remain uniquely American for years to come, thanks to the combination of capital, talent, legal system, infrastructure and market that cannot be easily replicated, geopolitical strategist Peter Zeihan said. “Of all of the horizontal wells that have been drilled in the last five years, 99% of them are in the United States. Of all the wells that have ever been drilled ever, three-quarters are in the United States,” Zeihan said. “This is not something that your average state-run thug can do.” FuelFix.com (5/16)

Data: U.S. crude output reaches 28-year high amid shale boom
U.S. crude production last week was at its highest level since 1986, according to the Energy Information Administration’s weekly data. Production, which climbed to 8.428 million barrels per day, was attributed to increased horizontal drilling and hydraulic fracturing for shale. Bloomberg (5/14)

Companies are pioneering tools to mitigate fracking impact, environmentalist says
Energy companies are inventing new technologies, such as mobile natural gas compressor systems, wastewater disposal and designer fluids, to mitigate the potential risks involved in hydraulic fracturing. “With the right technology, the right management practices and the right regulations properly enforced, there are things we can do to reduce the risks that are associated with unconventional oil and gas development,” said Mark Brownstein, associate vice president and chief counsel of the U.S. Energy and Climate Program at Environmental Defense Fund. The Wall Street Journal (tiered subscription model) (5/18)

Texas city profits from surge of fracking sand, crude oil flowing through port
Hydraulic fracturing may not be present in Corpus Christi, Texas, but the city is benefiting from the surging Eagle Ford Shale production with crude oil exports, increasing employment and new manufacturing and chemical facilities, this article says. The Port of Corpus Christi has been expanding to handle more fracking sand and more crude oil from the play, said John LaRue, executive director at the port. The amount of crude oil being transported through the port hit 122.5 million barrels last year. National Journal (5/19)