By February 27, 2014 0 Comments Read More →

Dream of U.S. Oil Independence Slams Against Shale Costs

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February 26, 2014 | Bloomberg News | The path toward U.S. energy independence, made possible by a boom in shale oil, will be much harder than it seems.

Just a few of the roadblocks: Independent producers will spend $1.50 drilling this year for every dollar they get back. Shale output drops faster than production from conventional methods. It will take 2,500 new wells a year just to sustain output of 1 million barrels a day in North Dakota’s Bakken shale, according to the Paris-based International Energy Agency. Iraq could do the same with 60.

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Posted in: Bakken Oil News

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