“It’s time to get bullish on natural gas.” That is what chief executive of the second largest U.S. natural gas producer recently told a conference audience. Aubrey McClendon comments come even though his Chesapeake Energy Corp. shifts nearly all of its capital spending toward finding and producing oil. But McClendon said Chesapeake still places high value [...]
Three years after the first successful well reached the 11,000-foot-deep Haynesville shale formation in northwest Louisiana, more than 1,060 wells using new horizontal drilling and “fracking” methods are producing natural gas at record levels. Their number could soon double. Another 930 wells are permitted and either awaiting drilling, being drilled or awaiting the complex hydraulic [...]
Mexico’s Petróleos Mexicanos (Pemex) has reported its first production in February from a shale gas well. The state oil monopoly stated that the well is located in the town of Hidalgo, Coahuila in the northeast of the country. “Today, this well is in completion and production aligned through Hidalgo collection site 1, with an extraction [...]
ConocoPhillips plans to sell $5-$10 billion of non-core assets over the next two years. “We are executing the plan set out last year to improve returns and create value through disciplined capital spending, non-core asset sales and growing production per share,” said Chairman and Chief Executive Officer, Jim Mulva. Almost 90% of ConocoPhillips’ $13.5 billion [...]
In the early months of 1930, the United States patent office recognized an intriguing bit of hydrocarbon alchemy perfected by a pair of German scientists. Franz Fischer and Hans Tropsch had figured out a better way to turn coal into a liquid fuel – an advance that would later become a pivotal source of Nazi [...]
With the global demand for energy expected to grow by double digits in coming decades, analysts are anticipating a new boom in gas consumption. Given the growing concerns about nuclear power and the constraints on carbon emissions, Société Générale, called natural gas the fuel of “no choice.” “At the end of the day, when you [...]
Statoil ASA says it could drill as many as 17,000 natural gas wells in the Marcellus Shale field over the next 20 years. The company which is partnering in Chesapeake Energy’s holdings in West Virginia’s Northern Panhandle. The agreement between the two companies covers 1.8 million acres and more than 32,000 leases in West Virginia, [...]
The rising interest of Asian oil companies in the U.S. shale boom continues with news that Korea National Oil Corp. has signed a $1.55 billion joint-venture agreement with Anadarko Petroleum Corp. for one-third of its Maverick Basin assets in southwest Texas for approximately $1.55 billion. “We are very pleased to welcome KNOC as our partner [...]
One industry’s disaster is another’s gift and nowhere is this more obvious than what has befallen the nuclear power world and how natural gas is perfectly poised to benefit. Somewhere, in the last several years, nuclear power had morphed from being an anathema to gradually being viewed as a clean, viable option in the mix [...]
Blackpool residents are used to a mix of sand and water. For a British seaside town, it’s the natural economic fuel. Add in some chemicals, though, and you’ve got the ingredients of a drilling technique that is radically reshaping America’s energy market and may do so for the rest of the world. It’s also drawing [...]
