USA - OIL SURGE - 'HOTBED FOR SHALE OIL'

Permian’s Oil Surge Creates Need for Pipelines By Matthew Rocco Published August 07, 2014 FOXBusiness With crude gushing from the Permian Basin, companies are ramping up efforts to build pipelines and better capitalize on the production surge. Drillers have been producing oil in the Permian for some eight decades. But in recent years, the Texas formation’s central region, which consists of the Delaware and Midland basins, became a hotbed for shale oil. The Permian is now the top oil-producing area in the U.S., accounting for 18% of the nation’s total output in 2013. Based on data from the Energy Information Administration, the Permian recorded production of 1.35 million barrels per day last year. The region hit a low mark of 850,000 bbl/d in 2007. EXTRACT - FULL @ SOURCE http://www.foxbusiness.com/industries/2014/08/07/permians-oil-surge-creates-need-for-pipelines/

Ooh, look ... more shale!