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IHS: 23 non-North American shale oil plays hold potential 175B barrels

  • Schlumberger (SLB +1%), Halliburton (HAL -0.1%), Baker Hughes (BHI +0.9%) and other oilfield services firms (OIH) could benefit from an expected shale boom overseas, as an IHS report says Argentina, Russia and Algeria have shale deposits that hold even more oil than North America.
  • Twenty-three tight oil plays across the globe are likely to hold 175B barrels in reserves, IHS says; it's too early to know how much could be commercially recovered, but the potential is significant compared to the 43B barrels of commercially recoverable resources of tight oil estimated in North America.
  • Extraction costs overseas are far higher than in the U.S. or Canada; IHS estimates an average tight oil well in North America costs $5.6M vs. $8M globally and more than $13M in the Arabian peninsula.
Comments (5)
  • When did "they" say peak oil was????? 1990? or 2000? if it exists, it will be found and extracted.....i think there are more proven reserves today than at any point in history.
    17 Sep 2013, 03:36 PM Reply Like
  • Heh, tfcab you don't know what peak oil is. It ain't 'running out of oil', the world will never 'run out'. Peak Oil refers to the peak in production, not the resource. The world will stop production when it becomes too expensive because other forms of energy will supplant oil at some price point. That price point has already been reached when considered against other energy forms such as solar. The peak will take many years to form (let's say 15-20 yrs), and we are on the left shoulder of the peak now. Tight oil production in the developed contries HAS already peaked (talking US, Canada, all of Europe, Australia, Japan, etc.) and other forms of energy are being used because oil costs are so high. The excess oil being produced is by China, India, Pakistan, and other less developed, growing countries.
    17 Sep 2013, 03:55 PM Reply Like
  • Has ANYone herd about the Linc Energy find in the Arckaringa near Coober Pedy in South Australia?
    17 Sep 2013, 11:05 PM Reply Like
  • Yes..from Dr. Kent Moors...who is pushing it heavily
    18 Sep 2013, 08:45 AM Reply Like
  • "Twenty-three tight oil plays across the globe are likely to hold 175B barrels in reserves, IHS says; it's too early to know how much could be commercially recovered"

     

    If they can't be commercially recovered then they aren't "reserves"......yet.
    18 Sep 2013, 12:03 AM Reply Like
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