Houston’s EOG Resources Inc. (EOG) announced today they would be selling off nearly 180,000 acres in US shale plays in order to increase funds for future exploration. EOG will sell 117,000 acres in the Eagle Ford Shale in South Texas, 51,000 acres in the Marcellus Shale in Pennsylvania; and 15,000 acres in the Haynesville Shale, [...]
Exxon Mobil Corp. said it plans to increase drilling activity for unconventional resources such as shale gas in various areas onshore the U.S. during the second half of this year. “We plan to further increase activity in the Haynesville, Fayetteville, Marcellus, Eagle Ford, and Bakken shale plays,” said ExxonMobil’s Vice President of Investors Relations David [...]
British gas producer BG Group said it would pay $950 million to buy a 50 percent interest in shale gas assets in Appalachia from EXCO Resources, the latest in a string of shale gas deals between the companies. BG said it was paying $800 million cash and $150 million towards EXCO’s drilling share of drilling [...]
Over the past decade, a wave of drilling around the world has uncovered giant supplies of natural gas in shale rock. By some estimates, there’s 1,000 trillion cubic feet recoverable in North America alone—enough to supply the nation’s natural-gas needs for the next 45 years. Europe may have nearly 200 trillion cubic feet of its [...]
In recent years, natural gas producers in the United States have struggled, mostly in vain, to be taken more seriously in the energy world. Big oil companies like Exxon had concluded that natural gas reserves in the United States were not sufficiently abundant to warrant big investments in exploration and drilling. When small independent gas [...]
A blog post called, “Drill Bits: Rig Count Picks Up Again. Why?” on the Wall Street Journal website by Ben Casselman speculates on why the number of active rigs is up for the third week in a row. Drill Bits: Rig Count Picks Up Again. Why? Sure, oil prices aren’t anywhere close to last year’s [...]
Today, Eduard Gismatullin article titled, “BG Buys Exco Stake for $1.06 Billion to Tap Shale Gas” hit the wire. BG Group Plc, the U.K.’s third- largest natural-gas company, bought assets from Exco Resources Inc. for $1.06 billion to develop its first U.S. shale gas project in the United States. They are entering the U.S shale [...]
Due to the intense development and exploration operations taking place closely to densely populated areas, the urban drilling in the Haynesville Shale zone now have rules and safeguards. After months of studies, observations, surveys and research- the Louisiana Commissioner of Conservation, Mr. James H. Welsh issued an order effective Aug.1, 2009. The goal of the [...]
Billionaire oil investor T. Boone Pickens said this past Wednesday, that he doubts a $26 billion natural gas pipeline from Alaska will be built any time soon as abundant new shale gas supplies reduce the need for the expensive project. Pickens, who is promoting a plan to boost investment in wind power and natural gas [...]
Today, “Producers Make Bet on B.C. Shale Play” was published in the Globe and Mail, a national newspaper in Canada. The article was written by DAVID EBNER. HIGHLIGHTS: • companies have slapped down a surprise $178-million bet in British Columbia on the long-term future of natural gas • the money is for new exploration rights [...]
