An S&P energy index of U.S. shale oil explorers such as Pioneer natural Resources(PXD) has jumped about 28%.They're riding the explosion of new wells and rail links to refineries that's bolstering revenue after crude traded in New York traded a 27-month high in August.
The shale boom will propell the U.S. past Russia as the world's top oil producer by 2015, the International Energy Agency said two days ago,bringing its estimates forward by two years.
Oil explorers are tapping deeper layers of oil-soaked rock in shale formations,bringing them "a lot of success this year,even outside the rise in the oil price,in the form of increasing production,analysts said.
Source: WSJ
The shale boom will propell the U.S. past Russia as the world's top oil producer by 2015, the International Energy Agency said two days ago,bringing its estimates forward by two years.
Oil explorers are tapping deeper layers of oil-soaked rock in shale formations,bringing them "a lot of success this year,even outside the rise in the oil price,in the form of increasing production,analysts said.
Source: WSJ
