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 [...]
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 [...]
One shale gas driller emphasizes value of small-but-reliable shales Barnett, Marcellus or Haynesville are the names that often are associated with shale gas development in the United States. We’re not talking about any of the huge, gas-rich shales that slip off the tongue said Darcy Spady, Vice President and Managing Director of St. Brendan’s Exploration [...]
Investment firm Kohlberg Kravis Roberts & Co. has acquired Barnett Shale properties from ConocoPhillips as part of an investment made by KKR Natural Resources. KKR said the properties are located in North Central Texas. KKR Natural Resources is a partnership formed last year with Premier Natural Resources to pursue investments in North American oil and [...]
Oil- and liquids-rich natural gas plays marched to the forefront of drilling activity in the past year with the Niobrara, Eagle Ford and Bakken leading a 38% increase in active rigs from 684 active rigs a year ago to 947 rigs as of Jan. 7, according to a shale basin rig count compiled byNGI’s Shale [...]
In mid-November, Chesapeake Energy sold a one-third interest in 0.6m net leasehold acres in South Texas’s Eagle Ford Shale to CNOOC in a transaction amounting to more than $2.16bn. This gives China a foothold in onshore US shale in what is currently the largest Chinese purchase of United States energy assets in history. Oklahoma City [...]
Oil & Gas E&P companies are increasingly focusing their resources on more lucrative liquid-rich shale plays including the Barnett, Bakken, Niobrara and Eagle Ford in search of higher value tight oil deposits. Advances in hydraulic fracturing mean recovering tight oil from shale plays is becoming more and more economical and companies are rushing to acquire [...]
Texas’ peak oil woes When we talk about declining production, we typically throw Alaska and California — the second and third largest producing states in the U.S. — into the mix. Today, let’s just focus on the Lone Star State. Because as you can see below, Texas’ oil production has been in trouble for decades: [...]
