OPEC, for some quiet moments..

[admin]

While some smaller shale companies and service firms have heralded the re-frack as a way to reduce costs, the process has, at best, produced mixed results. According to one report, 86 percent of refracks in the Bakken shale resulted in net positive value compared to just 52 percent of refracks in the Eagle Ford.

3 Ways Oil Companies Can Survive Low Prices | OilPrice.com

The rally in crude prices may not last as U.S. shale output remains robust, according to Malaysia’s state oil company. “It will take many years until we see oil prices anywhere near the $100 mark,” Petroliam Nasional Bhd. President and CEO Wan Zulkiflee Wan Ariffin said at a conference in Kuala Lumpur on Monday. “We’ve underestimated the resilience of U.S. shale production. We’re still grappling our way to climb out of this big drop.”

$100 oil seen years away by Petronas as shale output resilient

Anadarko Petroleum, on behalf of the co-venturers in Mozambique's Offshore Area 1, has announced the selection of a consortium consisting of CB&I, Chiyoda Corporation and Saipem (CCS JV) for the initial development of the onshore LNG park in Mozambique.

Anadarko appoints contractor for Mozambique LNG development

What’s next for oil prices? After rallying by about 40% since their lows earlier this year, forecasts now by major banks paint a mixed picture but one that increasingly looks like a W-shaped recovery. The average forecast in a MoneyBeat survey of 10 banks is for Brent, the global benchmark, to fall to an average of $63.35 a barrel in the third quarter of this year, down from around $66 on Tuesday. West Texas Intermediate, the U.S. marker, will average $58.40 a barrel next quarter, down from about $59 a barrel on Tuesday, according to the survey.

Oil Prices: Where Next? Here Are the Forecasts - MoneyBeat - WSJ