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images[3] = "03.jpg", images[4] = "04.jpg", images[5] = "05.jpg", images[6] = "06.jpg", images[7] = "07.jpg", images[8] = "08.jpg", document.getElementById("rotatortwo").style.backgroundImage = "url(" + dir + images[randomCount] + ")"; </script> <div class="container content"> <div class="row"> <div class="col-lg-9 col-md-9 padright"> <p style="font-size:11px;margin-top:30px;">Monday, July 28th, 2014 and is filed under <a href="https://web.archive.org/web/20210919203033/https://www.arescotx.com/category/oil-and-gas-current-events/" rel="category tag">Oil and Gas Current Events</a>, <a href="https://web.archive.org/web/20210919203033/https://www.arescotx.com/category/oil-and-gas-interesting-facts/" rel="category tag">Oil and Gas Fun Facts</a></p> <p>It’s been roiling at a vigorous boil since 2008. That’s when U.S. tight-oil (light crude trapped in geological formations of low permeability) production exploded: <a title="U.S. oil production increase" href="https://web.archive.org/web/20210919203033/http://www.economist.com/news/united-states/21596553-benefits-shale-oil-are-bigger-many-americans-realise-policy-has-yet-catch" target="_blank">from 600,000 to 3.5 million barrels</a> per day at the start of 2014. Thanks to the deluge of hydrocarbon resources from shale formations, petroleum is once again turbocharging U.S. economic growth.</p> <p>Thank the innovative technologies of hydraulic fracturing (“fracking”) and horizontal drilling for this success. The shale oil boom began in the 1990s, when the late oil and gas pioneer <a title="George P. Mitchell" href="https://web.archive.org/web/20210919203033/http://www.forbes.com/profile/george-mitchell/" target="_blank">George P. Mitchell</a> perfected and deployed hydraulic fracking processes to crack open gas reserves in the <a title="Barnett Shale" href="https://web.archive.org/web/20210919203033/https://www.arescotx.com/tag/barnett-shale/">Barnett Shale</a> field outside Fort Worth, Texas. Since then, the technology has burst the door open to shale oil development worldwide.</p> <p>Only it hasn’t. These new shale oil technologies have dramatically increased the recovery of shale petroleum reserves in the United States, almost to the exclusion of the rest of the world. Why?<span id="more-4213"></span></p> <p>Though there are petroleum-rich <a title="" href="https://web.archive.org/web/20210919203033/http://www.eia.gov/todayinenergy/images/2013.06.10/bigmap.png" target="_blank" data-rel="lightbox-image-0" data-rl_title="" data-rl_caption="">shale formations in other parts of the world</a>—Argentina, Poland, Romania, <a title="Shale Formations in the U.K." href="https://web.archive.org/web/20210919203033/http://theconversation.com/us-style-fracking-success-far-from-guaranteed-on-british-soil-27257" target="_blank">the U.K.</a>, Saudi Arabia, China—these countries don’t have the infrastructure, economic and regulatory framework, and nimble enterprise culture to effectively exploit them. Outside of North America and the U.S., hydrocarbon pricing is governed by petroleum contracts structured for conventional oil and gas production. Governments dictate what costs producers are allowed to recover. These traditional production-sharing contracts and the fiscal terms other countries have in place are incompatible with unconventional petroleum development.</p> <p><a href="https://web.archive.org/web/20210919203033/https://www.arescotx.com/u-s-shale-success-fueled-by-one-thing-yankee-knowhow/world-shale-formations-map/" target="_blank" rel="attachment wp-att-4214"><img loading="lazy" class="aligncenter wp-image-4214 size-full" title="World Shale Formations Map" src="https://web.archive.org/web/20210919203033im_/https://www.arescotx.com/wp-content/uploads/world-shale-formations-map.png" alt="Shale Oil - World Shale Formations Map" width="1059" height="581" srcset="https://web.archive.org/web/20210919203033im_/https://www.arescotx.com/wp-content/uploads/world-shale-formations-map.png 1059w, https://web.archive.org/web/20210919203033im_/https://www.arescotx.com/wp-content/uploads/world-shale-formations-map-300x164.png 300w, https://web.archive.org/web/20210919203033im_/https://www.arescotx.com/wp-content/uploads/world-shale-formations-map-1024x561.png 1024w" sizes="(max-width: 1059px) 100vw, 1059px"/></a></p> <p>By contrast, the U.S. has a regulatory framework that allows producers to experiment with innovative approaches to exploration and production. The U.S. also has an established vast and sprawling midstream infrastructure of <a title="Downstream oil infrastructure" href="https://web.archive.org/web/20210919203033/http://www.smithsonianmag.com/science-nature/tour-the-countrys-energy-infrastructure-through-a-new-interactive-map-8844967/" target="_blank">pipelines and terminals</a> for rail, barge and truck transport. Wherever resources are extracted, producers can get it to where it needs to go. Most countries with potential shale resources lack these midstream systems.</p> <p>To this add basic contract and property rights in the U.S., which allow landowners to lease their <a title="Mineral Rights" href="https://web.archive.org/web/20210919203033/https://www.arescotx.com/tag/mineral-rights/">mineral rights</a> to drilling companies for a share of the spoils of unconventional production. It’s an almost unheard of concept in many lesser-developed—and even some highly developed—nations around the globe. The partnership between private mineral/royalty owners and private working interest owners creates a class of stakeholders heavily invested in fracking success.</p> <p><a href="https://web.archive.org/web/20210919203033/https://www.arescotx.com/oil-gas-interests-explored-pathways-to-profit/" target="_blank"><img loading="lazy" class="alignright wp-image-3282 size-full" style="border: 0px none; margin: 5px 10px;" src="https://web.archive.org/web/20210919203033im_/https://www.arescotx.com/wp-content/uploads/private-oil-gas-investments.jpg" alt="private-oil-gas-investments" width="261" height="151"></a>Then there’s the concentration of institutional memory and expertise in the U.S. When <a title="Hydraulic Fracturing" href="https://web.archive.org/web/20210919203033/https://www.arescotx.com/tag/hydraulic-fracturing/">hydraulic fracturing</a> and <a title="Horizontal Drilling" href="https://web.archive.org/web/20210919203033/https://www.arescotx.com/tag/horizontal-drilling/">horizontal drilling</a> were developed for shale formations in the 1990s, experts and knowhow in specific technologies as well as shale geology developed in tandem. Expertise is so concentrated and in demand in the U.S. that specialists would have to be pulled from productive projects in this country for shale resource development abroad. Because of this confluence of uniquely American advantages, the rest of the world is not expected to catch up to the U.S. for at least 10 to 15 years.</p> <p>Shale hydrocarbon production in the U.S. has been nothing short of miraculous. The <a title="Energy Information Administration" href="https://web.archive.org/web/20210919203033/https://www.arescotx.com/tag/energy-information-administration-eia/">Energy Information Administration</a> predicts U.S. <a href="https://web.archive.org/web/20210919203033/https://www.arescotx.com/tag/crude-oil/">crude oil</a> production will hit its 1970 record of 9.6 million barrels per day by 2019. Which underscores the uniquely rich American resource that triggered the shale boom in the first place: <a title="Oil technology innovation" href="https://web.archive.org/web/20210919203033/http://www.eia.gov/todayinenergy/detail.cfm?id=15351" target="_blank">relentless innovation</a>.</p> <hr> <p><span style="color: #ff0000;"><strong><span style="font-size: x-large;"><a title="Texas Oil & Gas Investment Opportunities" href="https://web.archive.org/web/20210919203033/https://www.arescotx.com/oil-gas-interests-explored-pathways-to-profit/"><span style="color: #ff0000;">Texas Oil & Gas Investment Opportunities</span></a></span></strong></span></p> <hr> <div class="nextpages"></div> <div style="padding-top:30px;"> <ul class="pager">  <li class="nav-previous"><a href="https://web.archive.org/web/20210919203033/https://www.arescotx.com/permian-basin-oil-news/" rel="next">Previous</a></li>  <li class="nav-bloghome"><a href="https://web.archive.org/web/20210919203033/https://www.arescotx.com/latest-news/"><span class="icon"></span>All Posts</a></li>  <li class="nav-next"><a href="https://web.archive.org/web/20210919203033/https://www.arescotx.com/aresco-lp-begins-in-field-horizontal-drilling-project-in-texas-panhandles-anadarko-basin/" rel="prev">Next</a></li> </ul> </div> <ul class="pager"> <li></li> <li></li> </ul> </div> <div class="col-lg-3 col-md-3 sidebar"> <p class="titles">Recent Posts</p> <ul> <li> <a href="https://web.archive.org/web/20210919203033/https://www.arescotx.com/eagle-ford-shale-production-shattering-records-in-texas/">Eagle Ford Shale Production Numbers Luring Investors to the Region</a> </li> <li> <a href="https://web.archive.org/web/20210919203033/https://www.arescotx.com/why-invest-in-north-american-energy-and-why-now/">Why invest in North American energy, and why now?</a> </li> <li> <a href="https://web.archive.org/web/20210919203033/https://www.arescotx.com/texas-tops-oil-and-gas-investments/">Texas Tops Oil and Gas Investments</a> </li> <li> <a href="https://web.archive.org/web/20210919203033/https://www.arescotx.com/vertical-wells-still-a-mainstay-of-oil-production-in-oklahoma/">Vertical Wells Still a Mainstay of Oil Production in Oklahoma</a> </li> <li> <a href="https://web.archive.org/web/20210919203033/https://www.arescotx.com/when-was-fracking-first-used/">When was fracking first used?</a> </li> </ul> <p class="titles">Categories</p> <ul> <li class="cat-item cat-item-14"><a href="https://web.archive.org/web/20210919203033/https://www.arescotx.com/category/new-mexico-oil-and-gas-investing/" title="New Mexico oil and gas investing news, blogs, and videos by Aresco LP. See why now is the time to invest in the oil and gas industry in New Mexico. ">New Mexico Oil and Gas Investing</a> </li> <li class="cat-item cat-item-6"><a href="https://web.archive.org/web/20210919203033/https://www.arescotx.com/category/oil-and-gas-current-events/" title="Aresco LP publishes oil and gas current events, technology news, and industry related news from around the world. Aresco is a privately held company. ">Oil and Gas Current Events</a> </li> <li class="cat-item cat-item-25"><a href="https://web.archive.org/web/20210919203033/https://www.arescotx.com/category/oil-and-gas-interesting-facts/" title="Oil and gas fun facts and interesting information. Each of these articles contain information sure to test your knowledge of the oil and gas industry. 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">Texas Oil and Gas Investing</a> </li> <li class="cat-item cat-item-1"><a href="https://web.archive.org/web/20210919203033/https://www.arescotx.com/category/uncategorized/" title="General blog category on Aresco LP's Oil and Gas Current Events blog.">Uncategorized</a> </li> </ul> <style scoped type="text/css">.utcw-b1fq2ep {word-wrap:break-word}.utcw-b1fq2ep span,.utcw-b1fq2ep a{border-width:0px}.utcw-b1fq2ep span:hover,.utcw-b1fq2ep a:hover{border-width:0px}</style><p class="titles">Tag Cloud</p><div class="utcw-b1fq2ep tagcloud"><a class="tag-link-43 utcw-tag utcw-tag-bakken-shale" href="https://web.archive.org/web/20210919203033/https://www.arescotx.com/tag/bakken-shale/" style="font-size:10.512820512821px" title="9 topics">Bakken Shale</a> <a class="tag-link-95 utcw-tag utcw-tag-crude-oil" href="https://web.archive.org/web/20210919203033/https://www.arescotx.com/tag/crude-oil/" style="font-size:30px" title="47 topics">Crude Oil</a> <a class="tag-link-70 utcw-tag utcw-tag-crude-oil-export-ban" href="https://web.archive.org/web/20210919203033/https://www.arescotx.com/tag/crude-oil-export-ban/" style="font-size:10px" title="8 topics">Crude Oil Export Ban</a> <a class="tag-link-105 utcw-tag utcw-tag-crude-oil-exports" href="https://web.archive.org/web/20210919203033/https://www.arescotx.com/tag/crude-oil-exports/" style="font-size:10.512820512821px" title="9 topics">Crude Oil Exports</a> <a class="tag-link-7 utcw-tag utcw-tag-crude-oil-prices" href="https://web.archive.org/web/20210919203033/https://www.arescotx.com/tag/crude-oil-prices/" style="font-size:14.615384615385px" title="17 topics">Crude Oil Prices</a> <a class="tag-link-39 utcw-tag utcw-tag-domestic-oil-production" href="https://web.archive.org/web/20210919203033/https://www.arescotx.com/tag/domestic-oil-production/" style="font-size:15.641025641026px" title="19 topics">Domestic Oil Production</a> <a class="tag-link-101 utcw-tag utcw-tag-donald-j-trump" href="https://web.archive.org/web/20210919203033/https://www.arescotx.com/tag/donald-j-trump/" style="font-size:10px" title="8 topics">Donald J Trump</a> <a class="tag-link-5 utcw-tag utcw-tag-drilling-technology" href="https://web.archive.org/web/20210919203033/https://www.arescotx.com/tag/drilling-technology/" style="font-size:13.589743589744px" title="15 topics">Drilling Technology</a> <a class="tag-link-10 utcw-tag utcw-tag-eagle-ford-shale" href="https://web.archive.org/web/20210919203033/https://www.arescotx.com/tag/eagle-ford-shale/" style="font-size:20.769230769231px" title="29 topics">Eagle Ford Shale</a> <a class="tag-link-33 utcw-tag utcw-tag-eagle-ford-shale-production" href="https://web.archive.org/web/20210919203033/https://www.arescotx.com/tag/eagle-ford-shale-production/" style="font-size:10.512820512821px" title="9 topics">Eagle Ford Shale Production</a> <a class="tag-link-100 utcw-tag utcw-tag-energy-independence" href="https://web.archive.org/web/20210919203033/https://www.arescotx.com/tag/energy-independence/" style="font-size:10.512820512821px" title="9 topics">Energy Independence</a> <a class="tag-link-16 utcw-tag utcw-tag-energy-information-administration-eia" href="https://web.archive.org/web/20210919203033/https://www.arescotx.com/tag/energy-information-administration-eia/" style="font-size:14.102564102564px" title="16 topics">Energy Information Administration (EIA)</a> <a class="tag-link-42 utcw-tag utcw-tag-fracking" href="https://web.archive.org/web/20210919203033/https://www.arescotx.com/tag/fracking/" style="font-size:11.538461538462px" title="11 topics">Fracking</a> <a class="tag-link-34 utcw-tag utcw-tag-horizontal-drilling" href="https://web.archive.org/web/20210919203033/https://www.arescotx.com/tag/horizontal-drilling/" style="font-size:12.051282051282px" title="12 topics">Horizontal Drilling</a> <a class="tag-link-8 utcw-tag utcw-tag-hydraulic-fracturing" href="https://web.archive.org/web/20210919203033/https://www.arescotx.com/tag/hydraulic-fracturing/" style="font-size:17.692307692308px" title="23 topics">Hydraulic Fracturing</a> <a class="tag-link-29 utcw-tag utcw-tag-investing-in-texas-oil" href="https://web.archive.org/web/20210919203033/https://www.arescotx.com/tag/investing-in-texas-oil/" style="font-size:11.025641025641px" title="10 topics">Investing in Texas Oil</a> <a class="tag-link-13 utcw-tag utcw-tag-oil-and-gas-investing" href="https://web.archive.org/web/20210919203033/https://www.arescotx.com/tag/oil-and-gas-investing/" style="font-size:14.615384615385px" title="17 topics">Oil and Gas Investing</a> <a class="tag-link-115 utcw-tag utcw-tag-oil-and-gas-technology" href="https://web.archive.org/web/20210919203033/https://www.arescotx.com/tag/oil-and-gas-technology/" style="font-size:10px" title="8 topics">Oil and Gas Technology</a> <a class="tag-link-19 utcw-tag utcw-tag-oil-exploration" href="https://web.archive.org/web/20210919203033/https://www.arescotx.com/tag/oil-exploration/" style="font-size:10px" title="8 topics">Oil Exploration</a> <a class="tag-link-17 utcw-tag utcw-tag-oil-production" href="https://web.archive.org/web/20210919203033/https://www.arescotx.com/tag/oil-production/" style="font-size:18.205128205128px" title="24 topics">Oil Production</a> <a class="tag-link-32 utcw-tag utcw-tag-opec" href="https://web.archive.org/web/20210919203033/https://www.arescotx.com/tag/opec/" style="font-size:15.641025641026px" title="19 topics">OPEC</a> <a class="tag-link-11 utcw-tag utcw-tag-permian-basin" href="https://web.archive.org/web/20210919203033/https://www.arescotx.com/tag/permian-basin/" style="font-size:28.461538461538px" title="44 topics">Permian Basin</a> <a class="tag-link-57 utcw-tag utcw-tag-shale-oil" href="https://web.archive.org/web/20210919203033/https://www.arescotx.com/tag/shale-oil/" style="font-size:10px" title="8 topics">Shale Oil</a> <a 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