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Industry appetite for oil-rich resource plays, particularly the NorthDakota Bakken shale, Texas Eagle Ford shale and Ohio Utica shale, drove deal activity in the unconventional sector to a record $62 billion. We expect continued strong activity in oil and liquids-rich resource plays in 2012.
Argentina offers one of the few places on earth where oil companies are not suffering from the full force of the collapse in prices. Argentina regulates oilprices, a policy originally intended to insulate the public from the whims of the market, protecting people from triple-digit crude prices.
The financial pages of Canadian newspapers have been full of headlines lately announcing the potential of two large shale oil fields in the Northwest Territories said to contain enough oil to rival the Bakken Formation of NorthDakota and Montana. enthused the Financial Post. “NEB WTI crude closed at $59.13
The earlier 2011 Final EIS was developed contemporaneously with the start of strong growth in domestic light crude oil supply from tight oil formations, such as those formations found in NorthDakota’s Bakken region. Domestic production of crude oil has increased significantly, from approximately 5.5
The EIA noted that concerns about decreased demand because of increasing COVID-19 cases have recently driven crude oilprices down, offsetting some initial price increases due to larger inventory draws. As a result, EIA’s crude oilprice forecast remains mostly unchanged from the July STEO.
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