Test wells in the Marcellus region have led some researchers and energy companies to believe there may be more shale gas in the rock belt than once believed. Initial estimates say that there may be a decade’s worth of additional reserves in the Pennsylvania play which could be easily tapped by the existing drilling projects [...]
A Pennsylvania natural gas well “blowout” last week helped drive prices to a 14-week high on concern that tighter restrictions on offshore drilling following BP Plc’s Gulf of Mexico spill will spread onshore. The incident on June 3 at the project operated by EOG Resources Inc. shot natural gas and drilling fluids onto the ground [...]
The sovereign wealth funds of China and South Korea are set to lead a $900m investment in a leading US producer of natural gas from shale rock, becoming the latest Asia-based groups to focus on the sector. China Investment Corporation and Korea Investment Corp are in advanced negotiations to join a consortium planning to acquire [...]
After eking out a living for decades with a beef cattle operation on the rugged border of Pennsylvania and New York state, Fran Westcott has hit the jackpot. In the oil industry equivalent to a claims rush, energy companies have been flooding into this long-depressed patch of rural Appalachia to tie up land in the [...]
The discovery of abundant, low-cost natural gas formations in shale rock is having profound implications throughout the oil and gas industry. In the U.S., shale gas production has expanded from virtually nothing in 2005 to about 10 billion cubic feet per day (bcf/d) in 2009, constituting nearly one-fifth of total natural gas production in the [...]
Talisman Energy Inc (TLM.TO), Canada’s No.4 independent oil and gas explorer, said on Wednesday it is boosting its U.S. shale gas holdings, as it reported an operating profit that trumped expectations. The company, which is revamping North American operations to focus on producing gas from shale formations, picked up 37,000 acres of exploration lands in [...]
Energy company Dominion Resources Inc. has announced a project to harvest, process and transport growing volumes of wet natural gas in West Virginia, Pennsylvania and Ohio, one of many projects in the energy-rich Marcellus region. The Marcellus Shale is a rock bed the size of Greece that lies about 6,000 feet beneath New York, Pennsylvania, [...]
After letting The Netherlands-based LyondellBasell and Canada-based Value Creation slip through its fingers, Reliance Industries (RIL) managed to take a 40% stake in a section of a shale gas field in north-eastern United States in a $1.7 billion deal. RIL will pay $340 million (Rs 1,600 cr) upfront to US-based Atlas Energy and make follow [...]
RICHMOND, Va. — Consol Energy Inc. said today it has agreed to buy Dominion Resources Inc.’s Appalachian exploration and production business for $3.475 billion, substantially increasing its natural gas reserves and production capacity. Once complete, the coal and natural gas company said it will take a leading position in the strategic Marcellus Shale, a rock [...]
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 [...]
