Quote:
Originally Posted by Bartruff1
..no one has recovered a significant amount of oil from shale at a competitive price...I hope you don't trade oil futures... moving on... |
You need to educate yourself.
The Energy Information Administration (EIA) reported that
oil production from shale formations was approximately 275,000 barrels per day (B/D) in 2010, up from virtually nothing in 2005, and triple the 2008 production level.
The industry is enabling this production by using the same techniques that have been employed in natural gas shale plays, including horizontal drilling and hydraulic fracturing. This production increase was led by developing the Bakken formation in North Dakota and the Eagle Ford Shale in Texas. Other areas producing shale oil include the Barnett, Woodford and Marcellus formations.