The Shale Revolution

Generally, shale is a fine-grained sedimentary rock created from silt and clay-size mineral particles with properties to substance we commonly call “mud”. In geological term, shale is categorized as one of the mudstones. Properties of shale is rather distinguishing as it is made up of many thin layers which readily splits into thin pieces of layers. Shale can be used for numerous application based on the substance which exist in the shale formation. Most shale can be crushed and mixed with water to create clays for molding into object or bricks for houses. Some shale can even create cement by combining with limestone. For this paper, we only focus on one specific shale category which is oil shale.

Some emergent countries have put a lot of effort to find new reservoir or find the best way to recover oil from deep seas such as The pre-salt in Brazil. America has high projections for the future with fracking. However, lower prices would put at risk investments in unconventional sources. For example, tar sands, shale oil, deep sea and fracking. Our forecast is that the crude oil price tend to slowly rise until the market balance it self to avoid oversupply especially because of the weakening in the global oil

The Eagle Ford Shale (EFS) is a hydrocarbon producing formation in South Texas, where it can be seen on the surface as clay soil, with depths ranging from 4,000 ft to 12,000 ft. It has an approximate extension of 21,000 km2 (Treadgold: 2011, Figure 6-2) and covers more than 24 counties according to the Rail Road Commission (RRC). It is part of the Upper Cretaceous System which trends across the state from the Mexican border in Southwest Texas into East Texas (Bownman: 2011). Basic patterns of regional Cretaceous structure of the EFS area were set by Triassic and Jurassic tectonism associated with the opening of the Gulf of Mexico (Figure 6-1, Table 3).

The Marcellus Shale formation located in western Pennsylvania, New York, and Ohio is projected to supply an equivalent of 45 years of the United States current energy consumption. Worth an estimated five hundred billion, this can translate into cheaper “variety of products such as plastic, agrochemicals, and pharmaceuticals.” It can also related to an “increase [in] the supply of fertilizer, ensuring the availability of food and reducing…the conversion of forests to agricultural farms” (Sovacool 252). The fracking industry will only increase in size, so much so that reclamation of shale gas is called “eminent shale gas revolution. British Petroleum [BP], for instance, expects global shale gas production to grow six-fold from

Marcellus Shale, also known, as the Marcellus Formation, is black, organically rich, shale that exists underneath the surface of West Virginia, Pennsylvania, New York, Ohio, Kentucky, Maryland, Tennessee, and Virginia. The shale is located roughly one mile below the surface of these states and has an estimated 141 trillion cubic feet of attainable natural gas. As of 2015, Marcellus shale gas wells were reportedly yielding 14.4 billion cubic feet of natural gas per day (“Marcellus Shale - Appalachian Basin Natural Gas Play”). This shale discovery is known as one of the largest natural gas reserves in the United States, and this underground gas is now reachable thanks to hydraulic fracturing and horizontally drilling. These two techniques, when used in combination, have enabled gas producers to extract shale gas both rapidly and economically” (“The Marcellus Shale Gas Boom”). Although, there are many myths and disagreements with the way America gets this natural gas, it has proven to have more advantages than disadvantages.

A new player -at least in the United States- is entering in the game with a lot of enthusiasm among some of the audience, and a lot of skepticism by some others, that this unconventional player will overtake the conventional ones any time soon. Although, Big hops are held on the new player in the future. This new player is oil shale. The number estimated of oil shale in place in the US is around 4.28 trillion Barrel. An immense amount that’s even hard to imagine. Unfortunately, this amount is not 100% recoverable and the actual recoverable amount is unknown due to the lack of economic methods of recovery. The extraction of economic quantities of oil shale will be true in the near future due to

United States, China and Russia are the top 3 producers of Oil shale in the world. Oil shale is important because of its usage and economical factor , It can be transformed or treated into diesel and jet fuels or petrol. Oil shale was deposited in the Songlio Basin(NE china) during the upper cretaceous period, representing an excellent hydrocarbon source of rocks.

Over the past few years, new technology has led us to the discovery and development of large supplies of natural gas within shale plays across the United States. A shale play is a defined geographic area containing an organic-rich fine-grained sedimentary rock. Shale gas in the United States is rapidly increasing as an available source of natural gas.

United states, china and Russia are the top 3 producers of oil shale in the world. One of the many reasons oil shale is important is the economical factor (soaring price, the non independence of more than 85% of the countries in the world ) also Oil shale can be used, transformed or treated into diesel and jet fuels or petrol. Oil shale was deposited in the Songlio Basin(NE china) during the upper cretaceous period, representing an excellent hydrocarbon source of rocks.

Notwithstanding the fact that the modern economy experiences recession and turbulence on global markets, the US is still believed to be a leader in economic development due to their emphasis placed on innovative technologies, efficiency of operating processes and rapidly evolving tertiary sector. Despite the fact that the USA until more recent times energy dependence of the United States has been the main factor at play which has restrained sustainable growth of the American economy. This paper is dedicated to the crucial role of the shale gas revolution which allowed the US to eliminate their dependence on export of fossil fuels. The findings represent that the shale revolution made it possible for the United States to enter the club of oil-and

I have I determined specimen A as a black Shale. I have found out that the shale is a sedimentary rock. The rock is dark/black coloured from the picture, therefore suggests that it has high organic matter. From research I have concluded that shale is commonly marine as it is usually found in rivers, lakes and the sea floor and this will suggest to me that the shale is from a low energy environment. The rock is hard but it is quite brittle. I have established that all the grain sizes are less than 0.5mm which tells me they are fine grained when looking at the Wentworth’s scale.

In terms of the environment, the media releases are more about the firms’ commitment to environment protection appeared as awards or technology innovation. For example, Schlumberger Ltd. (SLB) invests in a new form of wind power that uses high-altitude kites to produce energy (Financial Times, December 13, 2016). SLB also invests $23.5 million in Alphabet Energy to develop its Power Generating Combustor (PGC) system, which helps to reduce natural gas flaring (NGI's Shale Daily, July 13, 2016). Center for Sustainable Shale Development (CSSD) certifies the operations of EQT Corp (EQT) in Appalachian because EQT has successfully completed the rigorous evaluation and verification process (Platts Commodity News, April 18, 2016). Hess

The Shale gas revolution has demonstrated a quantum leap from almost nothing in 2000 to over 30 billion cubic metres in 2011. This caused a crash of natural gas prices in the United States, significantly changing the country’s natural gas future outlook (Mangeri, 2012). The US oil and gas fracking revolution is a new paradigm which has made the country a game changer in the oil and gas scheme of things, and has immense implications for economics, energy and geopolitics. It is projected that in a few years, the US will surpass Saudi Arabia as the number one oil producer worldwide, having overtaken Russia as the number one natural gas producer in 2012 (Birol, 2013). This would exert a negative pressure on global oil prices,

Crude oil is the largest individual source of the world’s energy needs, it’s used in the production of many other products such as plastics, synthetics, fuels, bitumen etc. and is used as a benchmark for the pricing of other energy sources such as LNG. Oil’s impact on the economic spectrum i.e. from the hip pocket of the “man or woman on the street” to national finances cannot be understated. Oil prices are determined through the interaction of physical and financial markets, therefore making it’s pricing exceedingly complex. In Part A of this report, we endeavour to predict whether the Brent crude oil price will be above or below the current “spot” price of around US$60 per barrel in one and five years time and we consider demand concerns in China, supply issues within the US and OPEC (Saudi Arabia especially) as well as global geopolitical impacts. In Part B, fuel is the largest operating expense for an airline and we will assess the vulnerability of the share prices for Qantas and Virgin Australia to movements in the oil price.

The impact of oil price on the social, economic, political and many other aspects of human life is substantial. Oil exemplifies a vital role in the world economy as the backbone and origin of numerous industries. In global markets, it is the most active and heavily traded commodity. Global oil prices have fallen sharply over the past few months, leading to significant revenue shortfalls in many energy exporting nations. From 2010 until mid-2014, world oil prices had been fairly stable. WTI crude oil has declined ~58% since the middle of June 2014. Brent crude oil has also declined ~69% from mid-June. Recently many studies have emerged to discuss the problem of predicting oil prices and seeking to access to the best outcomes. This paper focuses on the use of a data-driven approach to predict crude oil prices using Automated Learning of Algebraic Models for Optimization (ALAMO) and comparing its results with the tools and techniques used in the past.