www.visiongain.com
Contents
1. Executive Summary
1.1 Overview of the Shale Oil Market
1.2 Benefits of This Report
1.3 Who ...
www.visiongain.com
Contents
4.6.1 YPF Cooperates with International Companies in the Vaca Muerta
4.6.2 Argentinean Shale O...
www.visiongain.com
Contents
6. Leading Companies in the Shale Oil Market
6.1 EOG Resources
6.2 Continental Resources Inc.
...
www.visiongain.com
Contents
List of Tables
Table 1.1 Global Shale Oil Market Forecast Summary 2013, 2018, 2023 ($m, CAGR)
...
www.visiongain.com
Contents
Table 6.5 ExxonMobil Company Overview (Shale Oil Capex $m, Global Market Share %, Net
Income $...
www.visiongain.com
Contents
Figure 4.14 Argentinean Shale Oil Market Share Forecast 2013, 2018 and 2023 (% Share)
Figure 4...
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Contents
Companies Mentioned in This Report
Americas Petrogas
Anadarko Petroleum
Apache Energy
ARC Reso...
www.visiongain.com
Contents
PetroFrontier
Petro-Hunt
Pioneer Natural Resources
Plain Exploration & Production
Pluspetrol
R...
Page 46www.visiongain.com
The Shale (Tight) Oil Market 2013-2023
• Duvernay/Muskwa Formation (Alberta)
• Beaverhill Lake G...
Page 65www.visiongain.com
The Shale (Tight) Oil Market 2013-2023
4.10 Rest of the World Shale Oil Market Forecast 2013-202...
Page 74www.visiongain.com
The Shale (Tight) Oil Market 2013-2023
6.1 EOG Resources Inc.
2013
Total Capital Expenditure $7,...
The Shale (Tight) Oil Market 2013-2023
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The Shale (Tight) Oil Market 2013-2023

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For more information on this report please contact ediz.ibrahim@visiongain.com (+44 (0) 2075499976) or refer to our website http://www.visiongain.com/Report/1091/The-Shale-%28Tight%29-Oil-Market-2013-2023

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The Shale (Tight) Oil Market 2013-2023

  1. 1. www.visiongain.com Contents 1. Executive Summary 1.1 Overview of the Shale Oil Market 1.2 Benefits of This Report 1.3 Who is This Report For? 1.4 Methodology 1.5 Global Shale Oil Market Forecast 2013-2023 1.6 Leading National Shale Oil Market Forecasts 2013-2023 2. Introduction to the Shale Oil Market 2.1 Global Shale Oil Reserves 2.2 Global Shale Oil Market Definition 2.3 Shale Oil Drilling and Water Usage 2.4 Shale Oil Economics 3. Global Shale Oil Market 2013-2023 3.1 Global Shale Oil Market Forecast 2013-2023 3.2 Global Shale Oil Market Drivers & Restraints 3.3 Emulating the US Shale Revolution? 3.3.1 Geology, Industry, Regulation, Pipelines, Water, Demand, Finance 4. Leading National Shale Oil Markets 2013-2023 4.1 Leading National Shale Oil Markets Share Forecast 2013-2023 4.2 Leading National Shale Oil Markets Share Forecast 2013, 2018, 2023 4.3 Barriers to Entry Analysis of the Shale Oil Market 4.4 United States Shale Oil Market Forecast 2013-2023 4.4.1 US Shale Oil Reserves 4.4.2 Is the Railway Making a Comeback in the US Crude Oil Market? 4.4.3 United States Shale Oil Market Drivers & Restraints 4.4.4 Major Oil Shale Plays Drive Quest for US Energy Independence 4.5 Canadian Shale Oil Market Forecast 2013-2023 4.5.1 Canadian Shale Oil Reserves 4.5.2 Canadian Shale Oil Market Drivers & Restraints 4.5.3 Find Out why Canada’s Shale Oil Potential will Remain Unfulfilled 4.6 Argentinean Shale Oil Market Forecast 2013-2023
  2. 2. www.visiongain.com Contents 4.6.1 YPF Cooperates with International Companies in the Vaca Muerta 4.6.2 Argentinean Shale Oil Market Drivers & Restraints 4.6.3 Will the Vaca Muerta Become a Global Shale Oil Hotspot? 4.7 Russian Shale Oil Market Forecast 2013-2023 4.7.1 Russia Tapping into World’s Largest Shale Play 4.7.2 Russian Shale Oil Market Drivers & Restraints 4.7.3 How the Russian Shale Oil Market will Benefit from Cooperation with Foreign Companies 4.8 Colombian Shale Oil Market Forecast 2013-2023 4.8.1 Shale Oil Adds to Colombian Oil Market Resurgence 4.8.2 Colombian Shale Oil Market Drivers & Restraints 4.8.3 Can the Colombian Shale Oil Market Attract More International Companies? 4.9 Australian Shale Oil Market Forecast 2013-2023 4.9.1 Australian Shale Oil Reserves 4.9.2 Australian Shale Oil Market Drivers & Restraints 4.9.3 Will Australian Shale Oil Potential Remain Undeveloped? 4.10 Rest of the World Shale Oil Market Forecast 2013-2023 4.10.1 Rest of the World Shale Oil Market Drivers & Restraints 5. PEST Analysis of the Shale Oil Market 2013-2023 5.1 Political Factors 5.1.1 Energy Security 5.1.2 Government Regulation and Legislation 5.1.3 Job Creation and Tax Income 5.2 Economic Factors 5.2.1 Oil Price 5.2.2 Growing Global Oil Demand 5.3 Social Factors 5.3.1 Environmental Concerns 5.3.2 Continuous Reliance on Fossil Fuels 5.4 Technological Factors 5.4.1 Pad Drilling 5.4.2 EUR Debate 5.4.3 Lack of Expertise and Infrastructure Outside of North America
  3. 3. www.visiongain.com Contents 6. Leading Companies in the Shale Oil Market 6.1 EOG Resources 6.2 Continental Resources Inc. 6.3 Marathon Oil 6.4 ExxonMobil 6.5 Hess Corporation 6.6 ConocoPhillips 6.7 Noble Energy Inc. 6.8 Devon Energy 6.9 Whiting Petroleum Corporation 6.10 Murphy Oil Corporation 6.11 Other Leading Companies in the Shale Oil Market 7. Conclusions 7.1 Shale Oil Market Outlook 7.2 Global Shale Oil Market Drivers 7.3 Global Shale Oil Market Restraints 7.4 Leading National Shale Oil Market Forecasts 2013-2023 8. Glossary
  4. 4. www.visiongain.com Contents List of Tables Table 1.1 Global Shale Oil Market Forecast Summary 2013, 2018, 2023 ($m, CAGR) Table 1.2 Leading National Shale Oil Market Forecasts Summary 2013, 2018, 2023 ($m, CAGR %) Table 2.1 Shale Oil Reserves Top 10 Countries Table 3.1 Global Shale Oil Market Forecast 2013-2023 ($m, AGR %, CAGR%, Cumulative) Table 3.2 Global Shale Oil Market Drivers & Restraints Table 3.3 Important Global Shale Oil Market Factors (Geology, Industry, Regulation, Demand, Finance, Water, Pipelines) Table 4.1 Leading National Shale Oil Markets Forecast 2013-2023 ($m, AGR %) Table 4.2 Leading National Shale Oil Market CAGRs 2013-2018, 2018-2023, 2013-2023 (CAGR %, Percentage Growth) Table 4.3 Leading National Shale Oil Markets Cumulative Capital Expenditure 2013-2023 (Rank, $bn) Table 4.4 US Shale Oil Market Forecast 2013-2023 ($m, AGR %, CAGR%) Table 4.5 Top 10 Shale Oil Producers in the Bakken and Eagle Ford Table 4.6 US Shale Oil Market Drivers & Restraints Table 4.7 Canadian Shale Oil Market Forecast 2013-2023 ($m, AGR %, CAGR%) Table 4.8 Canadian Shale Oil Market Drivers & Restraints Table 4.9 Argentinean Shale Oil Market Forecast 2013-2023 ($m, AGR %, CAGR%) Table 4.10 Argentinean Shale Oil Market Drivers & Restraints Table 4.11 Russian Shale Oil Market Forecast 2013-2023 ($m, AGR %, CAGR%) Table 4.12 Russian Shale Oil Market Drivers & Restraints Table 4.13 Colombian Shale Oil Market Forecast 2013-2023 ($m, AGR %, CAGR%) Table 4.14 Colombian Shale Oil Market Drivers & Restraints Table 4.15 Australian Shale Oil Market Forecast 2013-2023 ($m, AGR %, CAGR%) Table 4.16 Australian Shale Oil Market Drivers & Restraints Table 4.17 Rest of the World Shale Oil Market Forecast 2013-2023 ($m, AGR %, CAGR%, Table 4.18 Rest of the World Shale Oil Market Drivers & Restraints Table 5.1 PEST Analysis of the Shale Oil Market 2013-2023 Table 6.1 Top 10 Shale Oil Companies 2013 (Shale Oil Capex $m, Market Share %) Table 6.2 EOG Resources Company Overview (Shale Oil Capex $m, Global Market Share %, Net Income $m, Debt $bn, HQ, Ticker, Website) Table 6.3 Continental Resources Company Overview (Shale Oil Capex $m, Global Market Share %, Net Income $m, Debt $bn, HQ, Ticker, Website) Table 6.4 Marathon Oil Company Overview (Shale Oil Capex $m, Global Market Share %, Net Income $m, Debt $bn, HQ, Ticker, Website)
  5. 5. www.visiongain.com Contents Table 6.5 ExxonMobil Company Overview (Shale Oil Capex $m, Global Market Share %, Net Income $m, Debt $bn, HQ, Ticker, Website) Table 6.6 Hess Corporation Company Overview (Shale Oil Capex $m, Global Market Share %, Net Income $m, Debt $bn, HQ, Ticker, Website) Table 6.7 ConocoPhillips Company Overview (Shale Oil Capex $m, Global Market Share %, Net Income $m, Debt $bn, HQ, Ticker, Website) Table 6.8 Noble Energy Inc. Company Overview (Shale Oil Capex $m, Global Market Share %, Net Income $m, Debt $bn, HQ, Ticker, Website) Table 6.9 Devon Energy Company Overview (Shale Oil Capex $m, Global Market Share %, Net Income $m, Debt $bn, HQ, Ticker, Website) Table 6.10 Whiting Petroleum Corporation Company Overview (Shale Oil Capex $m, Global Market Share %, Net Income $m, Debt $bn, HQ, Ticker, Website) Table 6.11 Murphy Oil Company Overview (Shale Oil Capex $m, Global Market Share %, Net Income $m, Debt $bn, HQ, Ticker, Website) Table 6.12 Other Leading Companies in the Shale Oil Market 2013 (Company, Country) Table 7.1 Leading National Market Forecasts Summary 2013, 2018, 2023 ($m, CAGR %) List of Figures Figure 2.1 US Onshore Oil and Gas Rig Count 2011-2013 (Units) Figure 2.2 US Onshore Oil Production 2008-2013 (MMb/d) Figure 2.3 Texas Industrial Water Demand 2010 (% Share) Figure 2.4 Henry Hub Spot Price 2008-2013 ($/MMBtu) Figure 2.5 West Texas Intermediate Spot Price 2008-2013 ($/Barrel) Figure 3.1 Global Shale Oil Market Forecast 2013-2023 ($m, AGR%) Figure 4.1 Leading National Shale Oil Markets Forecast 2013-2023 ($m) Figure 4.2 Leading National Shale Oil Markets Share Forecast 2013 (%) Figure 4.3 Leading National Shale Oil Markets Share Forecast 2018 (%) Figure 4.4 Leading National Shale Oil Markets Share Forecast 2023 (%) Figure 4.5 Leading National Shale Oil Markets Share Change 2013-2023 (%) Figure 4.6 Barriers to Entry vs. National Market Size vs. CAGR 2013-2023 ($m, CAGR%) Figure 4.7 US Shale Oil Market Forecast 2013-2023 ($m, AGR%) Figure 4.8 US Shale Oil Market Share Forecast 2013, 2018 and 2023 (% Share) Figure 4.9 Shale Formations in the United States Figure 4.10 LLS-WTI Spread 2011-2013 ($) Figure 4.11 Canadian Shale Oil Market Forecast 2013-2023 ($m, AGR%) Figure 4.12 Canadian Shale Oil Market Share Forecast 2013, 2018 and 2023 (% Share) Figure 4.13 Argentinean Shale Oil Market Forecast 2013-2023 ($m, AGR%)
  6. 6. www.visiongain.com Contents Figure 4.14 Argentinean Shale Oil Market Share Forecast 2013, 2018 and 2023 (% Share) Figure 4.15 Russian Shale Oil Market Forecast 2013-2023 ($m, AGR%) Figure 4.16 Russian Shale Oil Market Share Forecast 2013, 2018 and 2023 (% Share) Figure 4.17 Colombian Shale Oil Market Forecast 2013-2023 ($m, AGR%) Figure 4.18 Colombian Shale Oil Market Share Forecast 2013, 2018 and 2023 (% Share) Figure 4.19 Australian Shale Oil Market Forecast 2013-2023 ($m, AGR%) Figure 4.20 Australian Shale Oil Market Share Forecast 2013, 2018 and 2023 (% Share) Figure 4.21 Rest of the World Shale Oil Market Forecast 2013-2023 ($m, AGR%) Figure 4.22 Rest of the World Shale Oil Market Share Forecast 2013, 2018 and 2023 (% Share) Figure 6.1 Top 10 Shale Oil Companies Market Share 2013 (% share) Figure 6.2 ExxonMobil’s Unconventional Assets in North America Figure 6.3 Devon Energy Permian Basin Assets Figure 7.1 Global Shale Oil Market Forecast 2013-2023 ($m, AGR%) Figure 7.2 National Shale Oil Markets CAGR 2013-2018, 2018-2023, 2013-2023 (%) Figure 7.3 Leading National Shale Oil Markets Share Forecast 2013 (%) Figure 7.4 Leading National Shale Oil Markets Share Forecast 2023 (%) Figure 7.5 National Shale Oil Markets Cumulative Capital Expenditure (% Share)
  7. 7. www.visiongain.com Contents Companies Mentioned in This Report Americas Petrogas Anadarko Petroleum Apache Energy ARC Resources Baker Hughes Bashneft BG Group Bridas Corporation Brigham Oil & Gas Burlington Resources Canacol Energy Ltd. CenterPoint Energy Chesapeake Energy Chevron Corporation ConocoPhillips Continental Resources DeeThree Denbury Resources Devon Energy Ecopetrol Encana EOG Resources Inc. EP Energy ExxonMobil Falcon Oil & Gas Gazprom Neft GeoSouthern Energy Hess Corporation Husky Oil Kodiak Oil & Gas Lightstream Resources Marathon Oil Corporation Murphy Oil Corporation Murphy USA Newfield Energy Noble Corporation
  8. 8. www.visiongain.com Contents PetroFrontier Petro-Hunt Pioneer Natural Resources Plain Exploration & Production Pluspetrol Repsol Rosneft Royal Dutch Shell Sanchez Energy Corporation Sinopec Slawson Exploration Company SM Energy Statoil Sumitomo Corporation Surgutneftegaz Tatneft Tecpetrol Total S.A. Whiting Petroleum Corporation XTO Energy Yacimientos Petrolíferos Fiscales (YPF) Government Agencies and Other Organisations Mentioned in This Report Association of American Railroads Canadian National Energy Board Energy Information Administration (EIA) Fuerzas Armadas Revolucionarias de Colombia (FARC) North Dakota Industrial Commission Texas Railroad Commission (TRC) US Department of Energy (DOE)
  9. 9. Page 46www.visiongain.com The Shale (Tight) Oil Market 2013-2023 • Duvernay/Muskwa Formation (Alberta) • Beaverhill Lake Group (Alberta) The Canol play in the Northwest Territory is a prospective play that might add substantial production to Canadian crude oil output if the harsh climate and problematic infrastructure problems can be overcome. Due to its proximity to the US, several of the major American shale oil players are active in Canada. After the US market the Canadian shale oil market is the most competitive with major US shale players, as well as smaller US based pure play shale oil companies, present in Canada. Additionally, several domestic companies, like Lightstream Resources (formerly knowns as PetroBakken), Encana, and Husky Oil are active in the Canadian shale oil market. The geological similarities of shales on the Candian side of the border have made it easier for companies to learn from the experience in the US and to speed up production from Canadian shales as the previous knowledge of the shale oil plays allowed for a much steeper learning curve. 4.5.2 Canadian Shale Oil Market Drivers & Restraints Table 4.8 summarises the main market drivers and restraints that will influence the Canadian shale oil market over the next decade. Drivers Restraints • High Potential Shales: The Montney and Duvernay shale plays in Canada have shown extremely promising characteristics such as impressive initial production rates, high EURs and the presences of oil and natural gas liquids. If Canada is able to find suitable demand markets for their shale derived hydrocarbons the market will see significant growth. • Export Potential: The United States currently is the biggest the importer of Canadian • Competition from Conventional Oil: Canada has a long-standing history of conventional oil production and many companies active in the Canadian market are currently more focused on developing their conventional assets which are economical at current oil prices and require less upfront capital investment. • Difficult Development Conditions: Canada’s shale formations are unique in regards to their surface environments. Unlike most other shale oil areas, Canada has harsh winters which bring tough snow and ice conditions, and during the better summer conditions the soft muskeg top soil will be damaged by road construction or heavy equipment. Essentially, the Canadian shales do not have the same all Table 4.8 Canadian Shale Oil Market Drivers & Restraints
  10. 10. Page 65www.visiongain.com The Shale (Tight) Oil Market 2013-2023 4.10 Rest of the World Shale Oil Market Forecast 2013-2023 Table 4.17, Figures 4.21 and 4.22 show visiongain’s forecast for the rest of the world shale oil market over the next ten years. 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2013-23 Capex $m 60 80 150 250 450 780 1,200 1,700 2,100 2,500 2,700 3,000 14,910 AGR (%) 33.3 87.5 66.7 80.0 73.3 53.8 41.7 23.5 19.0 8.0 11.1 2018-23 20.1 43.7 71.9CAGR (%) 2013-18 CAGR (%) 2013-23 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 0 500 1,000 1,500 2,000 2,500 3,000 3,500 AGR Capex$m Year Source: Visiongain 2013 Table 4.17 Rest of the World Shale Oil Market Forecast 2013-2023 ($m, AGR %, CAGR%, Source: Visiongain 2013 Figure 4.21 Rest of the World Shale Oil Market Forecast 2013-2023 ($m, AGR%)
  11. 11. Page 74www.visiongain.com The Shale (Tight) Oil Market 2013-2023 6.1 EOG Resources Inc. 2013 Total Capital Expenditure $7,200m Capital Expenditure in this market $3,300m Global market share % 8.1% Revenue (2012) $11.68bn Net Income (2012) $570m Long Term Debt $bn (2012) $6.3bn Enterprise Value (19.07.13) $44.6bn Headquarters Houston, TX Ticker EOG Website http://www.eogresources.com/ EOG Resources is the largest US oil producer from horizontal wells with close to 200,000 barrels of oil per day. In 2013 EOG will focus on expanding production from its Eagle Ford shale oil assets. EOG is the largest acreage holder in the Eagle Ford shale with a total of 639,000 acres of which 569,000 acres are located in the crude oil window stretching from Gonzales County in the East to La Salle in the West. Here the company plans to drill 425 net wells operating a total of 25 rigs in the play. According to company information a 5,500 foot lateral well takes an average 12.7 days to drill and comes in at a cost of around $6 million. This compares favourably to most competitors in the Eagle Ford whose costs often exceed EOG’s by $1 million per well. A large part of this saving comes from EOG self- sourcing the sand used in its operations. Self sourced sand not only reduces per well costs but also give EOG the advantage of being able to use more sand per well which positively influences output per well. In 2013, EOG will start a trial in the Eagle Ford in order to further maximise per acre output. In several sections the company will employ a method called downspacing whereby it reduces the acreage per well from 65 acres to 40 acres. EOG estimates that this will increase overall recovery, per 640 acres section, by 2 percentage point from 6% to a projected 8%. With current drilling schedules EOG estimates that is has enough potential wells to keep drilling in the Eagle Ford for 12 more years. This figure might increase strongly should the aforementioned downspacing trials prove successful as they would significantly increase the number of wells to be drilled and overall Table 6.2 EOG Resources Company Overview (Shale Oil Capex $m, Global Market Share %, Net Income $m, Debt $bn, HQ, Ticker, Website) Source: Visiongain 2013

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