07-13-2015, 03:27 AM
Pioneer Natural Resources (PXD -1.3%) says it plans to increase drilling activity in Texas following closing the sale of its Eagle Ford shale pipeline and processing business, despite the ~15% drop in crude prices since late June.PXD says it already has added two drilling rigs in the Permian Basin this month and plans to add an average of two per month during the balance of the year as long as the crude oil price "remains constructive."PXD plans to add eight horizontal rigs in Texas shale basins early next year, bringing the total rig count to 36, or the same number it had before the price of oil collapsed by more than half.
XD) | Seeking AlphaIn many cases, such plants are cheaper to build, and more economical over the long term, than competing forms of power generation. According to the Energy Information Administration, the cost of energy over their lifetime is $75.20 per megawatt-hour for conventional natural-gas plants that will come online in 2020. For conventional coal plants it’s $95.10, and for solar it’s $125.30. Only onshore wind, at $73.60, is less costly than natural gas.
Utilities Build for the Age of Natural Gas | MIT Technology Review
Intense focus on the North American shale boom, Saudi Arabia, and ISIS obscures an important emerging energy trend: China’s oil production is peaking. This has profound implications for the world oil market, because China is not just a massive importer of crude; it is also among the world’s five largest oil producers, trailing only the U.S., Russia, and Saudi Arabia, and virtually neck-in-neck with Canada.
Top 5 Oil Producing Countries Could See Production Peak This Year | OilPrice.com
China and Russia, two of the world’s five largest crude oil producers peaks in 2015. The US, the world’s third largest producer also peaks in 2015, at least temporarily. And it is very likely that Saudi is at maximum production also. 2015 will be the year of peak oil.
Top 5 Oil Producing Countries Could See Production Peak This Year | OilPrice.com