Mexico’s potential shale gas resources are nearly as big as those in the United States and the state oil company should use new private incentive contracts to exploit them, the oil industry regulator said on Wednesday. Mexico holds the world’s fourth largest reserve of shale gas — 681 trillion cubic feet (tcf) of technically recoverable [...]
Americas Petrogas has announced that it has entered into a farm-out agreement with a wholly-owned subsidiary of Exxon Mobil Corporation for the exploration and potential exploitation of Americas Petrogas’s Los Toldos blocks (163,500 gross acres or 255 sections or 660 square kilometers) located in Neuquén, Argentina. The Los Toldos blocks are located in the western [...]
OGX of Brazil has completed a drill-stem test at the Maceio wildcat in Santos basin Block BM-S-59, which contained a potential of 1 million cubic meters of gas per day in a vertical well. Buoyed by the results, the company now plans to conduct identical tests at the Natal discovery – also in BM-S-59 and [...]
New Jersey Governor Chris Christie imposed a one-year moratorium on hydraulic fracturing pending more research into its safety while, at the same time, vetoing a bill that would permanently ban the practice. “I am placing a one-year moratorium on fracking so that the DEP (state Department of Environmental Protection) can further evaluate the potential environmental [...]
Encana Corporation plans to sell off some of its high quality assets that do not fit into the company’s core development plan, as it faces pressures to raise cash to fund future production. Canada’s biggest natural-gas producer is seeking buyers for its North Texas natural gas producing assets in the Forth Worth basin, hoping for [...]
The Oil Shale Market 2011-2021 By: Matthew Jones, Visiongain Global oil shale resources are enormous, standing at around 4.8 trillion barrels according to the World Energy Council’s Survey of Energy Resources 2010 (WEC SER 2010). Though it is unclear precisely what percentage of these resources is recoverable, it is certain that global oil shale resources dwarf reserves [...]
The West Virginia Department of Environmental Protection has announced new rules on natural gas drilling operations in the state’s Marcellus Shale. The new emergency set of temporary measures regarding Marcellus Shale requires operators to submit erosion, sediment and water management plan. Drilling applications must include public advertisements about their activity 30 days prior to work [...]
PetroVietnam has made a successful foray into Bolivia by entering into an agreement with the state-owned oil company for exploration and evaluation of the natural gas potential in certain fields, according to the Bolivian news agency. The YPFB officials of the Latin American nation sealed a yearlong contract with PetroVietnam for exploration of gas in [...]
The U.S. Environmental Protection Agency will open a 60-day comment period starting Tuesday for the public to weigh in on the agency’s new proposed rules on air emissions from exploration and production activities, including hydraulic fracturing or fracking. Oil and natural gas drillers, environmentalists and other stakeholders will have two months to consider the proposed [...]
Ten years ago, Devon Energy made a multibillion-dollar bet on the Barnett Shale. On Aug. 14, 2001, the Oklahoma City-based oil and gas company announced a deal to acquire Mitchell Energy & Development of Houston for $3.5 billion. Mitchell Energy, led by legendary oilman George Mitchell, was the pioneering company that cracked the code of [...]
