Chesapeake Energy Corp. has invested another $200 million in south Texas’ Eagle Ford Shale. Chesapeake purchased more than 23,000 net acres in the play from Antares Energy Limited, the Australian company announced Monday. Chesapeake, which declined to comment on the deal, recently completed a project cooperation agreement in the play with China’s CNOOC Limited, which [...]
A new article in this month’s edition of The Economist details how global oil giants have, over the last several years, been rushing to join the booming shale industry. From Shell to Total, from BP to Chesapeake and ExxonMobil, nearly every major oil company has been making mergers and acquisitions to become players in the [...]
In his latest blog post, Peter Tertzakian, Chief Energy Economist and Managing Director of ARC Financial Corp and the bestselling author of A Thousand Barrels a Second and The End of Energy Obesity, weighs in on the recent outpouring of Asian capital in North American shale markets. Citing Chesapeake‘s $900 million preferred stock sale to [...]
What if I told you a domestic fuel exists that emits only half the greenhouse gases of coal and can be found in abundant supply to last the United States at least 45 years? Many of you already know what it is: natural gas. Technological advances are unlocking natural gas reserves in deep shale rock [...]
Much European comment from the “experts”, also known as those who never saw shale coming, holds to a view that Europe shale gas is up to ten years away. Shale isn’t coming to Europe anytime soon, although the indirect impact of US production in places like the Marcellus shale in Pennsylvania means that we get [...]
Barnett (Central Texas) The area where the industry first unlocked natural gas from shale by using horizontal drilling techniques and hydraulic fracturing, a process that shoots chemical-laced water into the deposit to crack the rock. Early indicators of potential production in 2015: four billion cubic feet (bcf) a day. Haynesville (Northwest Louisiana, East Texas, Arkansas) [...]
Anadarko Petroleum has set a 2010 capital pending plan of $5.3 billion to $5.6 billion, and expects an average annual production growth rate of 7% to 9% during the next four years. Production growth will be driven by development of the company’s shale gas holdings in the onshore US and several oil-weighted, deepwater “mega-projects” spread [...]
