Talisman Energy is reporting a cash flow of over $800 million in its second quarter and is giving some of the credit to production on its major shale plays. “In North America, natural gas production from continuing operations grew 5% year over year,” said John A. Mazoni, President and CEO of Talisman. “In Pennsylvania, Marcellus [...]
Range Resources Corp., recently dubbed the “King of the Marcellus Shale” in a Forbes article, is expressing a desire for “seizing opportunities” in the Marcellus Shale natural gas field. Range plans plans an additional $210 million in capital expenditures in the Appalachian shales this year. With the spending boost, the Fort Worth-based natural gas and [...]
Texas environmental regulators have formally proposed beefing up regulations on oil and gas drilling, in an attempt to reduce air pollution caused when companies use new technology to extract natural gas trapped in deep shales. The Texas Commission on Environmental Quality formally submitted the proposal on Wednesday, and the rules will enter a one-month public [...]
Exxon Mobil Corp. said it plans to increase drilling activity for unconventional resources such as shale gas in various areas onshore the U.S. during the second half of this year. “We plan to further increase activity in the Haynesville, Fayetteville, Marcellus, Eagle Ford, and Bakken shale plays,” said ExxonMobil’s Vice President of Investors Relations David [...]
New York based oil company, Hess Corporation (also known as the Amerada Hess Corporation) announced today that it would fully acquire Denver’s American Oil & Gas Inc. in an all-stock transaction. The transaction allows Hess to gain an additional 85,000 acres in the Bakken Shale oil play located in North Dakota. “Since its Clarence Iverson [...]
Talisman Energy Inc. today reported second-quarter net income of $603 million during the three months ended June 30, a nearly tenfold surge in comparing to $63 million in the period in the year-ago. Talisman has been shifting its focus toward unconventional natural gas plays in Canada and the United States. In particular, The Calgary-based firm [...]
Australia’s New Standard Energy is giving credit to the American shale boom for triggering a wide-spread shale hunt in countries around the globe which includes Australia. “The shale gas industry in the United States is significant,” Sam Willis, New Standard Managing Director, said in an article published on Energy-Pedia this weekend. “Tremendous opportunities exist for [...]
In the shale gas industry, there may be no “sure thing” but an effective partnership and some patience can sometimes lead to a big payoff. Just ask Al Holcomb, Vice President of Strategic Planning at Lewis Energy Group, who spoke about his company’s operations at the Eagle Ford play in south Texas, which was much [...]
The invention of hydraulic fracturing (also known as fracking) has been the key to the success of shale gas throughout the world. Without the technology for horizontal drilling, this vast resource might have remained unknown and untapped. This is a great video that describes how horizontal drilling and fracking work:
A recent article in The Economist credited the technological developments of hydraulic fracturing as one of the key reasons for the recent boom in the shale gas industry. Without hydraulic fracturing, the article says, these vast resources – which exist not only in the US but also around the world – would remain untapped. Though [...]
