Breitling Oil and Gas Morning Podcast #129 August 10th, 2012
The U.S. government published its first official forecast for booming “tight oil” production this week, estimating that shale formations such as the Bakken in North Dakota will more than double output in the next two decades.
The projections, one small part of the EIAs updated long-term forecasts, shed light on the agency’s take on the role of the oil found in low-permeability reservoirs such as shale and chalk formations, the largest new source of U.S. supply since offshore Gulf of Mexico.
U.S. output from eight tight oil prospects covered by the report will more than double to 1.2 million barrels per day by 2035,
In 2012, tight oil output will reach 720,000 bpd, or 12 percent of domestic production