Shale oil production will level off and we will have a peak in the oil production in 2015

28 01 2015

Aleklett's Energy Mix

(Photo: Oil pump east Eagle Frod, K Aleklett)

Lower 48 production
The US Energy Information Administration, EIA, has now made a first forecast of the production of oil from the lower 48 states, the states with fracking. As the decline for individuate wells are very steep the rig count will be a very important factor for the future and the number of new wells each rig will drill per quarter. In the figure you can see that the number of rigs will drop down to 1300 and not came back to the level it had in the 4th quarter of 2014. We have seen peak rig count for shale oil in the US. EIA indicate a peak production in 2015 but hope the production will come back. This is just guesses and the price of oil will determine this. The decline in the existing wells might be so large that we in reality…

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28 01 2015
Rapideffect

“With sub $60 oil, fracking and tar sands losses threaten the whole financial system”
http://www.theecologist.org/News/news_analysis/2679765/with_sub60_oil_fracking_and_tar_sands_losses_threaten_the_whole_financial_system.html

An interesting article on the falling oil price and it’s effect on the global economy

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