|
. | . |
|
by Daniel J. Graeber Washington (UPI) Apr 17, 2013
Oil production from some of the top shale basins in the United States is expected to increase by 70,000 barrels per day next month, the Energy Department said. In a weekly update, the Energy Information Administration, the statistical arm of the Energy Department, said it expected the gains to come from the combined output from the Bakken, Niobrara, Permian and Eagle Ford shale basins. EIA said it expected the Permian basin in the southern United States to show the most growth, while a spring thaw in Northern Plains states may disrupt some activity in the Bakken region between mid-April and June. EIA said flat oil prices and rising costs meant energy companies may pull back on future spending on exploration and development in the shale basins, though increasing drilling efficiency may offset the loss. Nevertheless, EIA said annual reports from oil and natural gas companies show spending on exploration and production activities increased 5 percent last year to $18 billion, though property acquisition in the shale areas declined. Total spending in the upstream, or refining sector, was relatively flat last year after an annual growth rate of 11 percent per year in the ten-year period ending in 2012. [EIA]
Related Links Powering The World in the 21st Century at Energy-Daily.com
|
|
The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service. |