Never mind that hydraulic fracturing was once again linked to an earthquake, this time a 4.0 tremor in Ohio on New Year’s Eve, the year 2012 kicked off in impressive fashion for the shale industry, which has been revolutionized by the controversial drilling practice. Undaunted by the environmental and geological challenges, two oil giants signed [...]
Seeking to take advantage of higher-value liquids plays., Encana Corporation has reached an agreement to sell its North Texas natural gas producing properties to certain partnerships managed by EnerVest Ltd. of Houston, Texas for approximately US$975 million. The properties produce 125 MMcfd equivalent of gas and include associated gathering pipelines on 50,000 net acres. Encana [...]
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 [...]
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 [...]
GAIL (India) Ltd., the state-run gas utility, is reportedly making a non-binding bid for acquiring 20% interest in shale gas assets owned by a US company. The deal is estimated to be valued at $400-500 million, persons familiar with the negotiations said. The Times of India newspaper did not identifying the US company, but said [...]
A team of researchers at The University of Texas at Austin’s Energy Institute recently announced they are going to conduct “a comprehensive review of the science, policy and environmental issues surrounding hydraulic fracturing of shale gas,” More specifically, the team will investigate claims of groundwater contamination, seismic events, fugitive air emissions and other concerns that [...]
If there’s a formula for success regarding the engineering aspects of unconventionals drilling, Encana Corporation looks well placed to know what that formula is. At Shale Gas Eastern Europe 2011 in Warsaw, Poland, Encana’s Mike Graham, Executive VP and President, Canadian division, offered insights from North America’s largest independent natural gas producer, whose head office [...]
Speaking on US shale gas development at Shale Gas Eastern Europe 2011 in Warsaw, Poland, Daniel G. Rathan, Director A&D at Tudor Pickering Holt & Co. remarked, “The growth in this sector of the industry is just incredible. The Barnett shale had production in the early 90s, but the explosion of production happened in 2006 [...]
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 [...]
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 [...]
