“This time, we are here for a long time : our costs are so low that one can continue even if prices fall. “For Tim Dove, CEO of Pioneer Natural Resources, one of the largest players in the Basin permian, the huge reserves of shale and production capabilities assure Us a place on the chessboard world’s oil.
According to the firm Rystad Energy, the United States would have access to more proven reserves than saudi Arabia, with 264 billion barrels. The half door on oil shale, of which Texas may be home to more than 60 billion barrels.
But this accounting is not consensus, as the assessment of reserves is dangerous. The oil shale are ” a headache for the forecasters “, says the consultant in energy Sylvie Cornot-Gandolphe, in a note to the French Institute of international relations (IFRI), ” The revenge of oil shale “, released in September 2017.
The u.s. Agency for energy information (EIA) has been brought in to re-evaluate its forecasts on several occasions, which attests to the difficulty in understanding this production. “The future will tell what are the reservations full, but we know that they are huge,” says Sara Ortwein, president of XTO Energy, a subsidiary of ExxonMobil, which operates unconventional oil.
The Post Carbon Institute, an american think tank on climate change, which analyzes the figures of production of hydrocarbons, believes that the official forecast from the united states are ” extremely optimistic “, the current shafts, concentrating on the sweet spots, the most productive locations.
Price Fluctuations
This analysis is shared in part by one of the pioneers of the oil and gas shale, Mark Papa, CEO of Centennial Resource Development. “There has been a tendency…
