Exxon Mobil Corp. is confident the shale boom that has changed the U.S. energy landscape will spread across the globe, resulting in increased oil and natural-gas supplies, a top executive said. “We do believe there is potential for unconventional oil development from shale resources globally,” Mark Albers, Exxon Mobil senior vice president, said in an [...]
Argentina could reverse its falling natural gas reserves and production if the right incentives are put in place to exploit what are thought to be vast deposits of unconventional gas, an Apache Corp. executive said Wednesday. Apache Argentina country manager Michael Bose said the drilling and extraction technologies that gave rise to the unconventional gas [...]
Exxon Mobil Corp has bought privately held natural gas company Phillips Resources and related company TWP Inc for $1.69 billion, picking up about 317,000 acres for exploration in the Marcellus shale basin. Exxon said the two firms had proved reserves of 228 billion cubic feet equivalent of natural gas. The Phillips companies produce about 50 [...]
The administration of President Cristina Fernandez will not export natural gas even if potentially massive deposits of unconventional gas turn out to more than enough to supply the domestic market. Planning Minister Julio De Vido told reporter that even if the gas reserves are found to be very large, they will be targeted for local consumption, [...]
New York state is making inroads against hydraulic fracturing, the process that has enabled the big natural gas boom in the US in recent years. This is something environmentalists have been pushing for, and gaining traction with. They worry about what the fracturing of rock underground is doing to groundwater and what the entire process [...]
By Dick Ghiselin, Senior Editor E&P Magazine While Washington dithers, Pennsylvania rolls up its sleeves and gets busy. Recent headlines are trumpeting the global promise of shale gas, while closer to home, the “big boys” are jumping into the shale pool with both feet. And their efforts are finding endorsement. None other than Ernest J. [...]
UK super major BP Plc. intends to make a deal with privately held Lewis Energy Group for the expansion of its U.S. shale-gas operations, as per news published in upstreamonline.com. The transaction value of this deal is expected to be worth $150 million to $200 million. BP will acquire a 50% stake in 80,000 acres [...]
Royal Dutch Shell Plc and Devon Energy Corp. may join Exxon Mobil Corp. as buyers of U.S. shale- gas producers or projects, the chief executive officer of gas developer Range Resources Corp. said. Range Resources CEO John Pinkerton said in an interview yesterday his company may be a partner or target for oil companies, like [...]
