The company’s 2012 Oil Sands Report on its Canadian operations shows production increased by more than 60% and carbon dioxide intensity dropped by nearly 24%.

The presence of guar gum substitutes and expectations that North American market frac activity will level out within three years led to PacWest’s prediction that guar prices will stabilize at $3 or $4 per pound next year.

With the rig count slumping and less pressure-pumping services needed for oil/liquids plays, US demand for hydraulic fracturing services dropped 14% in 2012.

The unconventional oil and gas revolution has arrived with the US producing 11 MMb/d of oil.

The World Energy Outlook 2012 released by the International Energy Agency shows US shale oil success could put the country above the rest for oil production.