Global Shale Producers
Vaca Muerta
It is widely known that the US is the world's largest shale producer.
Quick: who is in second place?
Answer: Argentina.
Argentina’s crude production was 533,600 barrels a day in June, down 0.5 percent compared with May but up 0.7 percent year on year. The increase was mainly from YPF’s crude output rising by 4.7 percent in the same span.The Bakken produces around 1.2 million bopd, and unfettered, it could easily go to 2 million bopd.
Vaca Muerta is the size of Belgium.
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Miscellaneous
WSJ: Venezuela's food shortage trigger long lines, hunger, and looting.
WSJ: Schlumberger to buy Cameron International for $12.7 billion.
The price tag values Houston-based Cameron at $66.36 a share, a 56.3% premium to Tuesday’s closing price. Amid the downturn in the energy sector, Cameron shares had fallen 42% over the past 12 months, but they surged 39% to $58.50 in premarket trading Wednesday.
Cameron shareholders will receive $14.44 in cash and 0.716 Schlumberger shares for each share of Cameron. After completion, Cameron holders will own about 10% of the combined company.
Cameron, perhaps best known as the maker of a piece of safety equipment that helped trigger the 2010 Deepwater Horizon disaster, settled with BP PLC for $250 million in 2011.
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Back To The Bakken
Active rigs:
| 8/26/2015 | 08/26/2014 | 08/26/2013 | 08/26/2012 | 08/26/2011 | |
|---|---|---|---|---|---|
| Active Rigs | 75 | 195 | 185 | 189 | 200 |
RBN Energy: only three days left to register for RBN Energy "school."
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