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Real and Nominal Oil Prices, 1980-2008. The various attempts to develop oil shale deposits have succeeded only when the cost of shale-oil production in a given region comes in below the price of crude oil or its other substitutes (break-even price).
The breakeven price for North American shale oil was US$68 a barrel in 2015, making it one of the most expensive to produce. By 2019, the "average Brent breakeven price for tight oil was about US$46 per barrel. The breakeven price of oil from Saudi Arabia and other Middle Eastern countries was US$42, in comparison. [141]
Also in 2013, Ken Medlock, Senior Director of the Baker Institute's Center for Energy Studies, researched US shale gas break-even prices. "Some wells are profitable at $2.65 per thousand cubic feet, others need $8.10…the median is $4.85," Medlock said. [116]
(Reuters) -Rising costs and shortages of labor and materials have plagued U.S. shale oil production all year, and in the waning days of 2022, more energy executives are saying those may even ...
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The company owes it all to the Marcellus Shale. It's a similar story. Range Resources recently announced its third quarter production has jumped to 960 million cubic feet equivalent per day. That ...
In their May 2019 comparison of the "cost of supply curve update" in which the Norway-based Rystad Energy—an "independent energy research and consultancy"—ranked the "worlds total recoverable liquid resources by their breakeven price", Rystad reported that the average breakeven price for oil from the oil sands was US$83 in 2019, making it ...
In 2008, Australia's oil shale resource was estimated at 4.531 billion metric tons of oil shale equal to 31.7 billion barrels (5.04 × 10 9 cubic metres) of shale oil, of which about 24 billion barrels (3.8 billion cubic metres) is recoverable. [15]