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Keyword: shale

Brevity: Headers | « Text »
  • Germany should make use of shale gas: EU

    04/21/2014 3:08:00 AM PDT · by Olog-hai · 2 replies
    TheLocal.de ^ | 20 Apr 2014 10:34 GMT+02:00 | (AFP)
    EU energy commissioner Günther Oettinger has urged Germany to make use of shale gas options and added that the he saw no danger of Europe’s access to Russian gas falling victim to possible economic sanctions in the standoff over Ukraine. […] “I am against scaling back or even cutting our gas links with Russia in the coming years,” the commissioner said. “But we must pursue our strategy of diversification. […] I would also urgently press Germany to make use of the shale gas option and allow fracking projects.” …
  • Vast oil trove trapped in Monterey Shale formation

    04/08/2014 9:51:16 AM PDT · by Kennard · 50 replies
    Los AngelesTimes ^ | April 6, 2014 | Julie Cart
    SHAFTER, Calif. — A bustling city is sprouting on five acres here, carved out of a vast almond grove. Tanker trucks and heavy equipment come and go, a row of office trailers runs the length of the site and an imposing 150-foot drilling rig illuminated by football-field-like lights rises over the trees. It's all been hustled into service to solve a tantalizing riddle: how to tap into the largest oil shale reservoir in the United States. Across the southern San Joaquin Valley, oil exploration sites have popped up in agricultural fields and on government land, driven by the hope that...
  • Economist: Transport causing ‘serious logistical challenge’ for shale boom

    03/26/2014 5:55:34 AM PDT · by thackney · 6 replies
    Fuel Fix ^ | March 25, 2014 | Collin Eaton
    Despite major accidents in the past year, U.S. oil companies must keep using the nation’s railroads to move crude to markets while they build a much more extensive pipeline network, an energy economics professor said Tuesday. Oil refineries on the East Coast have virtually no access to the light, sweet crude extracted in Texas’ surging oil fields because there are no pipelines to carry the oil there. It is generally too expensive to ship the crude from the Gulf Coast to buyers in the northeastern U.S. because of quirks in century-old laws, forcing refineries in New Jersey to buy oil...
  • Eagle Ford Production to Keep Growing Through 2014

    03/14/2014 5:54:07 AM PDT · by thackney · 1 replies
    Rig Zone ^ | March 12, 2014 | Karen Boman
    Production from the Eagle Ford unconventional oil play in South Texas is expected to keep growing through 2014 and to break the 1.5 million barrel per day (bpd) mark in 2015, an analyst told attendees at the Platts’ North America Crude Conference in Houston Feb. 27-28. Between now and the end of 2018, 4.4 million barrels of crude are expected to be produced in North America, said Suzanne Minter, manager of crude and natural gas analysis with Bentek Energy. In 2013, 1.2 million barrels per day (bpd) of crude production was grown; crude production this year will exceed that number,...
  • Shell to slash oil field spending, jobs in the Americas

    03/14/2014 5:17:23 AM PDT · by thackney · 7 replies
    Fuel Fix ^ | March 13, 2014 | Ryan Holeywell
    Shell will slash spending and staff in its oil and gas field operations in the Americas, CEO Ben van Beurden told investors Thursday, largely in response to disappointing results in U.S. shale plays. Shell announced that it will reduce spending in its upstream Americas unit by 20 percent this year. In a presentation released Thursday, the company said it also is planning a 30 percent cut in company and contractor staff in its North American, onshore portfolio. About 400 Shell positions will be eliminated from the unit. Kayla Macke, a spokesperson for Shell Oil Co., the Dutch oil giant’s U.S....
  • Growth in U.S. hydrocarbon production from shale resources driven by drilling efficiency

    03/11/2014 5:21:27 AM PDT · by thackney · 7 replies
    Energy Information Administration ^ | March 11, 2014 | Energy Information Administration
    The productivity of oil and natural gas wells is steadily increasing in many basins across the United States because of the increasing precision and efficiency of horizontal drilling and hydraulic fracturing in oil and natural gas extraction. Many resource-producing basins are experiencing an increasing yield over time in either oil (Bakken, Eagle Ford, Niobrara) or natural gas (Marcellus, Haynesville). The geology of each oil and natural gas resource play is diverse, and individual rig or well performance can vary dramatically. However, drilling activity in U.S. shale plays is now generally producing greater quantities of oil and/or natural gas than in...
  • The Ukraine Crisis Is Bolstering America's Oil And Gas Boom

    03/11/2014 12:50:56 AM PDT · by 2ndDivisionVet · 18 replies
    Forbes ^ | March 10, 2014 | Christopher Helman
    The hand-wringing over what to do to help Ukraine has had a very positive impact on the U.S. oil and gas industry. Politicians like Sen. Lisa Murkowski (R-AK) are seizing on the crisis to call for a lifting of the ban on U.S. oil exports — the better to counterbalance Russia’s petro-influence. While the Wall Street Journal this morning wrote that western politicians are working on a variety of options to help “loosen Russia’s energy stranglehold on Ukraine” including “larger exports of U.S.-made natural gas.” Nevermind that the U.S. currently exports no natural gas in the form of LNG because...
  • America's Oil and Gas Leverage, A shrewder President would use it to reduce Putin's influence.

    03/06/2014 5:01:44 AM PST · by thackney · 12 replies
    Wall Street Journal ^ | March 5, 2014 | REVIEW & OUTLOOK
    The U.S. has more responses to Vladimir Putin's adventure in the Crimea than the no-options caucus suggests, including a few that weren't possible even a few years ago. Namely, a President with a keener strategic mind would unleash North American oil and gas on the world. The Putin regime controls the taps for as much as a third of Europe's natural gas imports, including half of Ukraine's and 39% of Germany's. The European Union is less dependent now on the trans-Ukraine pipeline system than it was when Russia choked back supply in 2006 and 2009, but the U.S. oil and...
  • FRACKING SAVES WATER?

    03/05/2014 11:15:59 AM PST · by thackney · 14 replies
    E21 ^ | 03/04/2014 | E21
    A common criticism of hydraulic fracturing (fracking) is that it wastes water. Los Angeles just became the largest U.S. city to vote to ban fracking. One of the main justifications was water conservation during the current California drought. L.A. Councilmember Mike Bonin said that fracking “uses excessive amounts of water in a drought.” Some lawmakers are even pushing for a statewide ban. However, as the following table shows, fracking uses much less water than other energy sources. To produce one million British Thermal Units (MMBtu) of energy, natural gas from fracking uses an average of 1.25 gallons of water. Biofuels...
  • BHP chief warns of shale gas reliance (Tree-hugging CEO)

    03/04/2014 5:33:52 PM PST · by 2ndDivisionVet · 2 replies
    The Financial Times ^ | March 4, 2014 | Ed Crooks
    Relying on shale gas would be a “very expensive” solution to meeting the world’s growing demand for energy, the chief executive of BHP Billiton, the mining, oil and gas group, has said. Andrew Mackenzie, who took over at BHP last year, also called for a price to be put on greenhouse gas emissions to address the threat of global warming, and said the mining industry needed to do more to develop technology to capture and store carbon dioxide. Speaking to the Financial Times in Houston, Mr Mackenzie said it was “completely impractical” to suggest that shale gas could be the...
  • Shale brings high hopes in Mississippi, Louisiana

    03/01/2014 7:25:36 AM PST · by Wonder Warthog · 9 replies
    Abilene Reporter-News ^ | February 27, 2014 | Jeff Amy
    GILLSBURG, Miss. (AP) — Residents living above an oil-rich shale formation that stretches across southwest Mississippi and Louisiana have been waiting on a boom for years. A steady trickle of drilling is already boosting the rural region's economy, and spending by two oil companies could make 2014 the year that many other locals finally cash in on the oil far beneath their feet. Already, Max Lawson has spent hours watching the round-the-clock work of shoving pipe into the ground in his back pasture. The process began two years ago when Encana Corp. built a big gravel pad, but didn't take...
  • Chart of the Day - The Exploding Labor Intensity of Shale Drilling

    02/26/2014 10:00:01 AM PST · by thackney · 4 replies
    Oil Pro ^ | 2/26/2014 | Joseph Triepke
    Since 2010, the phrase "rising service intensity" of unconventional drilling and completions has become a household term. What this refers to is the fact that more stages per well and longer horizontal laterals demand more of oil service contractors than ever before. More proppant, more frac fluid, more horsepower, more water, more infrastructure, more transportation, etc. Several other associated trends include more wells drilled per rig and rising service company revenues per rig. A phrase you don't hear as often is "rising labor intensity" of unconventional drilling and completions. But we would argue that this is just as important. Just...
  • Speed can be a drag on oil output

    02/17/2014 4:50:15 AM PST · by thackney · 3 replies
    Fuel Fix ^ | February 16, 2014 | Collin Eaton
    Aged, slow-churning pumpjacks known as nodding donkeys have found new life pumping oil in the plains near Bakersfield in West Texas and other places elevated by the nation’s oil boom. And the familiar horse-head pumps are getting makeovers that could keep them on the job for many more years as components in a technological revolution aimed at extracting more oil from sometimes stubborn shale reservoirs. Makers of oil field equipment say the next mutation in the evolving U.S. shale venture must dig into its biggest engineering hurdle: Oil producers leave a massive amount of hydrocarbons behind when they combine modern...
  • Analyst predicts world’s next shale boom — and it’s not China

    01/14/2014 2:30:47 PM PST · by thackney · 14 replies
    Fuel Fix ^ | January 14, 2014 | Zain Shauk
    The world’s next shale revolution likely will be in Australia, which appears to be the most attractive place for companies to pursue tight oil and gas, according to a Lux Research analysis released Tuesday. While companies have eyed shale development in China, lured by the prospect of huge reserves and easy financing, Australia has the know-how, experience and infrastructure to be a more attractive place to drill into shale plays, the analysis says. It also beats out Argentina, which is believed to have expansive shale reserves, but has experienced political instability despite attractive government incentives, according to the Lux report,...
  • UK Shale Exploration Right Around the Corner? We TOTALly Think So

    01/13/2014 11:15:00 AM PST · by thackney · 6 replies
    Oil Pro ^ | 1/13/2014 | Jeff Reed
    France's Total has become the first oil and gas major to enter Britain's shale gas market. On Monday, the French company announced its acquisition of a 40% interest in two licenses in northern England for up to $48 million. Total's involvement follows UK shale gas acquisitions in northwest England by GDF Suez and Centrica last year, and serves as a major catalyst to Britain's nascent shale gas industry. UK Prime Minister David Cameron said on Monday that local officials that permit shale gas development to occur will be able to retain all of the business taxes they collect from the...
  • MoveOn Announces Effort to Slow Fracking Boom

    01/10/2014 3:26:59 PM PST · by 2ndDivisionVet · 22 replies
    The Washington Free Beacon ^ | January 10, 2014 | Lachlan Markay
    Leading left-wing advocacy group MoveOn.org announced a new effort on Thursday to oppose innovations that are propelling the country towards a new abundance of domestically produced energy. MoveOn bemoaned in an email to supporters the “troubling trend” of increased energy production, which is reducing the U.S. trade deficit, creating well-paying jobs, stabilizing global energy prices, and undermining the economic engine behind some of the world’s most repressive regimes. MoveOn announced the creation of a new effort called “#FrackingFighter,” which “seeks to slow down the fracking boom that is anticipated to occur across the United States in 2014 and beyond.” The...
  • There's A Huge Bullish Story On Energy And The Economy And It's Sitting Right Below The Radar

    01/09/2014 10:46:29 PM PST · by ckilmer · 26 replies
    businessinsider ^ | 1/9/2014 | Rob Wile
    There's A Huge Bullish Story On Energy And The Economy And It's Sitting Right Below The Radar Rob Wile Yesterday at 9:34 AM 4 Williston, North Dakota Economists have recently been scrambling to crank up there U.S. GDP growth forecasts.“What’s going on here?” asked Potomac Research Group’s Greg Valliere. “In a word, it’s energy.”In a note today, Valliere called this a huge story that’s below most people’s radar.As Bloomberg’s Bob Ivry said this morning about the Great American Shale Boom: “Nobody Expected U.S. Oil Boom to Be This Boomy.”It’s basically true — there have been lots of doubters who’ve argued...
  • The Great American Oil & Gas Boom & the Future of Iran

    01/07/2014 8:43:59 PM PST · by ckilmer · 9 replies
    The Great American Oil & Gas Boom & the Future of Iran No country, No Nation, has ever added oil production capacity – yes ever – like the United States has in the past few years. America has gone from producing 5 Million barrels of oil per day in 2011 to over 7.5 Million barrels this past year; and will soon surpass 10 Million barrels of oil production domestically. It’s an incredible oil boom that will have a profound impact on the lives of ordinary Americans. By the time Obama leaves office, he will have presided over a country that...
  • China’s largest coal company to learn shale in U.S. deal

    01/05/2014 6:13:51 PM PST · by thackney · 6 replies
    Fuel Fix ^ | January 3, 2014 | Collin Eaton
    China’s state-owned coal behemoth is heading to Pennsylvania to learn how to tap into natural gas embedded in shale. China Shenhua Energy Co., the world’s second largest coal company, is planning to create a joint venture between a U.S. subsidiary and a private Pennsylvania natural gas producer to drill 25 natural gas wells in the Marcellus Shale. The $146 million project — which is slated to produce 3.8 billion cubic meters of gas in three decades — is China Shenhua’s first foreign venture into shale gas, according to China Daily. China Shenhua said it aims to learn the trade and...
  • 2013: The year of the United States’ biggest oil boom, ever

    12/27/2013 3:27:50 PM PST · by 2ndDivisionVet · 9 replies
    Hot Air ^ | December 27, 2013 | Erika Johnsen
    Hey, remember that one time — er, actually, those many times over the past four or five decades — that eco-”experts” were predicting that we were all teetering on the brink of a “peak oil” crisis, the likes of which would throw the entire world into a state of perpetual famine and war over sating our gluttonous demand for the planet’s ever-shrinking oil reserves? As entertaining as that particular brand of determined Malthusian fear-mongering can be, we have somehow managed to sail right on past all of the proffered deadlines for those imagined doomsday scenarios. Indeed, largely thanks to innovations...
  • Why California will Never Fulfill its Shale Potential

    12/18/2013 5:21:36 AM PST · by thackney · 20 replies
    Real Clear Energy ^ | December 18, 2013 | Tom Whipple
    There was an important study released by the Post Carbon Institute last week that gives us an insight into how long our great shale oil bonanza —or more likely, bubble— is going to last. As you might suspect, the thrust of the new report is bad news so we are unlikely to ever read much about it in the mainstream media, which continues to tell us about the bright energy-rich future ahead. By now we should all know about the technological wonder of “fracking” that has raised America’s oil production by over 2 million barrels a day (b/d) in the...
  • US oil boom’s end in sight, feds say

    12/17/2013 4:53:57 AM PST · by thackney · 89 replies
    Fuel Fix ^ | December 16, 2013 | Jennifer A. Dlouhy
    U.S. oil production is on track to reach a near historic high by 2016, before leveling off and eventually beginning to taper in 2020, according to a new federal forecast. The nation’s crude output will crest at 9.5 million barrels per day in 2016, according to the U.S. Energy Information Administration’s latest annual energy outlook, released Monday. The United States hit its peak oil production in 1970, with 9.6 million barrels of crude harvested daily. Advancements in oil field technology — particularly the combination of horizontal drilling and hydraulic fracturing, or fracking — have helped reverse years of declining oil...
  • Letter: Environmentalists should be embracing deep-shale drilling

    12/16/2013 6:10:54 PM PST · by 2ndDivisionVet · 4 replies
    The Athens News ^ | December 11, 2013 | Shawn Bennett
    To the Editor: RE: "God Will Help Us Fight for Our Lives Against Fracking Threat" (The NEWS, Dec. 9). Readers of The Athens NEWS need to know that hydraulic fracturing and protecting the environment are not mutually exclusive. While shale development is only a few years old in Ohio, we have been utilizing hydraulic fracturing as a completion technique for over 60 years in this state. During that time, there has not been a single confirmed case of groundwater contamination. This fact has been repeated by regulators across the United States, as well as current Department of Energy Secretary Ernest...
  • BHP Says US Shale Business To Generate Cash From 2016

    12/11/2013 5:25:45 AM PST · by thackney · 2 replies
    Rig Zone ^ | December 10, 201 | Reuters
    BHP Billiton, the world's largest miner and a top investor in U.S. oil and gas, said on Tuesday its U.S. shale business would break even from 2016, generating cash that would grow to almost $3 billion a year by the end of the decade. Analysts have voiced concern over the growing proportion of BHP's spending being allocated to petroleum, where volumes and returns have proven disappointing for now. In a presentation to analysts in Houston, BHP said it was on track to hit its 2014 petroleum production target. It said a spending programme of $4 billion per year would help...
  • California's next frontier: Development of the Monterey Shale

    12/03/2013 5:26:20 AM PST · by thackney · 63 replies
    Bracewell & Giuliani via Oil & Gas Financial Journal ^ | December 2, 2013 | Heather Corken, Jason Hutt and Michael Weller
    Depending on whom you ask, it looks like California is getting closer to tapping the nearly 15 billion barrels of recoverable oil that lies deep in the Monterey Shale. On September 20, 2013, Governor Jerry Brown signed SB 4 into effect, a bill that provides California with its first set of requirements specifically associated with hydraulic fracturing and other well stimulation techniques, such as acidizing. Less than one month later, the California Department of Conservation (DOC) has released proposed regulations applicable to well stimulation treatments in the state, initiated the State’s environmental review process and set the stage for the...
  • Large oil companies pulling up stakes in Kansas

    12/02/2013 5:30:48 AM PST · by thackney · 12 replies
    AP via Fuel Fix ^ | December 2, 2013 | Roxana Hegeman
    The economic future seemed so tantalizing just two years ago as the nation’s big oil firms rushed into Kansas. They snapped up mineral leases from landowners for high prices and drilled horizontal wells to extract unknown riches from the same Mississippian Lime formation that had spawned an oil boom in neighboring Oklahoma. Things have changed. Most of those big out-of-state players are gone. The biggest blow came when oil giant Shell Oil Co. halted its Kansas exploratory drilling program in May and has since put up for sale 625,000 acres of leases it owns in the state. Life here has...
  • US oil producers rise in ranking of world’s largest

    11/27/2013 4:53:48 AM PST · by thackney · 4 replies
    Fuel Fix ^ | November 27, 2013 | Simone Sebastian
    State-owned energy giants and international majors continue to top lists of the world’s largest oil companies. But the U.S. shale revolution is beginning to make a mark, as U.S. independent oil and gas producers rise in the ranks. Energy Intelligence has released its list of the world’s 100 largest oil and gas companies, with several independents — including Houston-based Anadarko Petroleum and Apache Corp. — making among the biggest gains. The annual ranking is based on the prior year’s reserves, production, refined product sales and refinery distillation capacity. Anadarko jumped two spots to No. 44 and Apache rose one spot...
  • Iran Deal Could Lead To Scuttling Of The Great U.S. Oil Boom

    11/25/2013 11:44:37 AM PST · by Laurent.w · 14 replies
    Forbes ^ | 11/25/2013 | Christopher Helman
    In the short term, the Iran deal will ease the political risk premium baked into oil prices. In the long-term a gush of Iranian oil could soften oil prices enough to kill the economics of America’s tight oil boom. Given sufficient investment in drilling and infrastructure, there are ample oil reserves in Iraq and Iran to add another 5 million bpd to global oil supplies within 10 years. The Eagle Ford and Permian Basin and Bakken need sustained high oil prices to make the economics of expensive drilling and steep decline rates pay off. If crude oil benchmarks were to...
  • America's Unevenly Distributed Resurgence In Manufacturing Starts In The Shale Fields

    11/19/2013 10:13:39 PM PST · by 2ndDivisionVet · 8 replies
    Forbes ^ | November 4, 2013 | Mark P. Mills
    Our economy is straining at the bit to grow out of the Great Recession. You wouldn’t know that from the dreary news on both the jobs and GDP growth front. The good news is found in the incredible potential for high-paying jobs, growth and wealth creation bubbling up in America’s manufacturing sector. Manufacturing is hot, even though we’re supposed to be in a post-industrial economy. The transformation in American manufacturing today is redolent of a century ago when innovation and growth in the industrial landscape was blossoming in both big companies and start-ups. On today’s start-up front we have emerging...
  • US oil and gas boom benefits consumers

    11/19/2013 9:31:19 AM PST · by tightoil67 · 18 replies
    Albuquerque Journal ^ | 11/17/13 | Kevin Robinson-Avila
    After years of steadily rising prices, “low-cost fuel” may seem like an oxymoron. But thanks to a steady surge in domestic oil and gas production, energy experts say consumers could enjoy inexpensive gasoline and natural gas for years to come. MAP MASTER“The outlook is for a low-cost energy economy in the U.S.,” said Daniel Fine, associate director of the New Mexico Center for Energy Policy, which is run by the New Mexico Institute of Mining and Technology in Socorro. “This is a long-term trend, not an isolated event, and it’s something almost revolutionary.
  • Obama's Ethanol Policies Have Scarred The Earth

    11/13/2013 4:01:11 PM PST · by raptor22 · 10 replies
    Investor's Business Daily ^ | November 13, 2013 | IBD EDITORIALS
    After fomenting fears of fracking and fossil fuels, the administration's campaign to put food in our gas tanks has wiped out millions of acres of conservation land, destroyed habitat and polluted water supplies. Ethanol was supposed to save the earth and pave the way to energy independence. It has done neither. We are getting closer to energy independence but it is thanks to the technology known as hydraulic fracturing, or fracking, that has unleashed our vast reserves of oil and natural gas formerly trapped in shale formations underneath much of the U.S. Fracking was supposed to be environmentally dangerous, a...
  • Companies face the bill for shale rush borrowing

    11/11/2013 5:48:01 AM PST · by thackney · 2 replies
    Fuel Fix ^ | November 10, 2013 | Collin Eaton
    By 2007, a century of drilling had drained the biggest U.S. sandstone reservoirs and sent oil and gas producers overseas to virgin lands. Then a new combination of drilling techniques came into play, sparking a rush to amass as much once-abandoned American land as possible. Merging hydraulic fracturing and horizontal drilling, wildcatters blasted through tight rock formations that had fed the country’s sandstone with crude oil and natural gas for millions of years. For the U.S. oil and gas industry, it meant wiping the map clean of its aging framework for producing from softer sandstone, and starting over. “The amount...
  • Shale gas exploration accelerated in China

    11/11/2013 1:42:05 AM PST · by TexGrill · 2 replies
    China Daily ^ | 11/11/2013 | Du Juan
    China's top two oil and gas companies have accelerated shale gas exploration. PetroChina Co, China's largest oil and gas producer, announced on Friday that its first shale gas project in Daqing, Heilongjiang province, started test runs in early October. Sinopec Co, the country's largest refiner, said it has discovered enough shale gas resources for commercial scale production in Chongqing on Oct 28. The company said its shale gas block in Chongqing has reached the maximum daily output of 547,000 cubic meters. Insiders said the top two oil and gas companies – PetroChina Co and Sinopec Co – have accelerated their...
  • Fracking, Poverty & New Liberal Gentry: Energy bonanza bypassed NY, socialites/celebs try to stop it

    11/08/2013 11:28:01 PM PST · by 2ndDivisionVet · 5 replies
    The Wall Street Journal ^ | November 7, 2013 | Fred Siegel
    The transformation of American liberalism over the past half-century is nowhere more apparent than in the disputes now roiling a relatively obscure section of upstate New York. In 1965, as part of his "war on poverty," President Lyndon Johnson created the Appalachian Regional Commission. Among the areas to be served by the commission were the Southern Tier counties of New York state, including Broome, Tioga and Chemung. The commission's central aim was to "Increase job opportunities and per capita income in Appalachia to reach parity with the nation." Like so many Great Society antipoverty programs, the effort largely failed. The...
  • 10 Highest-Paying Jobs in North Dakota’s Oil Boom

    11/06/2013 10:38:39 AM PST · by thackney · 35 replies
    The Fiscal Times ^ | November 5, 2013 | Blaire Briody
    IIt’s no secret that North Dakota’s oil industry is booming. Advancements in hydraulic fracturing have helped Western North Dakota experience month after month of record-setting oil production, making for one of the fastest-growing economic expansions the U.S. has ever seen. With the region having one of the lowest unemployment rates in the country and generating over 75,000 new jobs in the past few years, thousands of workers have showed up searching for high-paying jobs. Oil field workers in the state saw an average annual wage of $112,462 in 2012. Competition has intensified since the boom started around 2007, but entry...
  • Marathon Oil sees profits from more efficient U.S. drilling

    11/05/2013 8:22:21 AM PST · by thackney · 2 replies
    Fuel Fix ^ | November 5, 2013 | Collin Eaton
    Marathon Oil aims to keep driving down drilling and completion times in the U.S. plays like the Eagle Ford next year as it squeezes more money out of its assets, the company’s chief executive said in a conference call Tuesday. “We’re making sure we generate the best economics,” in the shale plays and other onshore drilling regions, said Lee Tillman, president and CEO of Marathon Oil, during a call with investors and analysts. “As we look forward to 2014 and begin to look at frac crudes, we still see room there to drive that commercial element down a bit lower...
  • The New Albany Shale

    10/25/2013 5:16:32 AM PDT · by thackney · 11 replies
    Energy and Capital ^ | October 24th, 2013 | Justin Williams
    When we think fracking, we look at places like Texas or North Dakota, and now even California as it gets going. But there are whispers coming out of Illinois that have us wondering. Yes. Illinois. For a couple years now we’ve been hearing the rumors; Illinois farmers have been leasing their land to drillers who have gone unidentified. We know it’s in southern Illinois, and we know that land is getting snatched up, but by whom and where they plan to drill – it’s been hush-hush. If we don’t keep our ear to the ground, we could miss something big....
  • Highlights of new Drilling Productivity Report

    10/23/2013 4:56:31 AM PDT · by thackney · 4 replies
    Energy Information Administration ^ | OCTOBER 22, 2013 | Energy Information Administration
    EIA's new Drilling Productivity Report (DPR) takes a fresh look at oil and natural gas production, starting with an assessment of how and where drilling for hydrocarbons is taking place (see map). The first edition of the DPR was released today. As mentioned in yesterday's Today in Energy story, new technologies for drilling and producing natural gas and oil have made traditional measures of productivity, such as a simple count of active rotary drilling rigs, obsolete. With more than half of newly-drilled wells now producing both oil and natural gas, it is also no longer sufficient to categorize rigs as...
  • Shale industry "just starting" in Columbiana County (Ohio)

    10/21/2013 4:02:48 AM PDT · by 2ndDivisionVet · 3 replies
    Tribune Today ^ | October 21, 2013
    LISBON - Some local and state officials updated residents on where the shale fracking natural gas industry currently stands in Columbiana County during an informational meeting held at the Crestview Performing Arts Center this past week. "We're just really getting started with this in Columbiana County," said County Commissioner Timothy Weigle, when asked. "We've talked to our friends in Carroll County (which has more than 10 times the number of wells producing gas as there are here). They are a couple million ahead in tax revenue." Here, commissioners are only seeing a slight tax increase at this point, but it...
  • ‘Fracking threatens fresh water, risks ending of life on earth as we know it’ (We're DOOMED!)

    10/19/2013 7:46:32 PM PDT · by 2ndDivisionVet · 50 replies
    Russia Today ^ | October 19, 2013
    The benefits of hydraulic fracturing in terms of job creation and meeting energy demands have been drastically exaggerated, while the consequences of the controversial practice could prove cataclysmic, geopolitical commentator Ian Crane told RT. RT: You used to work in the oil industry yourself: what is it that makes fracking worse than the other extraction techniques of oil and gas? Ian Crane: What we’re talking about primarily here is the extraction of shale gas from unconventional geology. This is a very different technology, a very different technique from the usual process of extracting from conventional reservoirs. The gas has to...
  • Kemp: Why Shale Plays Really Are Different

    10/17/2013 5:15:28 AM PDT · by thackney · 6 replies
    Reuters via Rig Zone ^ | October 16, 2013 | John Kemp
    North Dakota's rapidly rising oil output continues to defy the sceptics, who have predicted that production would stop growing as declining output from existing wells offsets extra production from new drilling. Oil production soared to 911,000 barrels per day in August, up more than 200,000 bpd compared with the same month last year, the state's Department of Mineral Resources (DMR) said this week. Production is on course to hit 1 million bpd by the end of the year or early 2014, according to the DMR. By the end of August, 9,452 wells were in production. But another 450 had been...
  • Booming Oil Towns Prepare for Inevitable Bust

    10/16/2013 4:47:50 AM PDT · by thackney · 20 replies
    Real Clear Energy ^ | October 16, 2013 | Pat Sullivan
    MIDLAND, Texas -— In a faded West Texas town dotted with vacant buildings and potholed streets is a sparkling storefront window and a curious display: rows of diamond-studded Rolex watches, awaiting buyers whose pockets are packed with oil money. The surge in oil drilling has drawn money and men like a magnet to run-down communities that haven't seen a boom since the 1980s. But leaders and residents here are increasingly mindful that the runaway riches tapped by hydraulic fracturing will eventually run out. And they are determined to live by a fondly remembered bumper sticker from the last bust: Please,...
  • Saudi Arabia to Join US as Shale Gas Producer

    10/15/2013 5:58:50 AM PDT · by thackney · 6 replies
    Reuters via Rig Zone ^ | October 14, 2013 | Meeyoung Cho & Florence Tan
    OPEC heavyweight Saudi Arabia is preparing to be among the first countries outside North America to use shale gas for power generation and thereby save more of its crude oil for lucrative exports. Inspired by a shale gas boom in the United States, which has transformed the country from the world's largest gas importer to a budding exporter, Riyadh plans to take its first steps to commercialise its own large unconventional deposits. "We are ready to start producing our own shale gas and unconventional resources in various types in the next few years and deliver them to consumers," Saudi Aramco...
  • Texas Continues To Lead The Shale Oil & Gas Revolution, But other states, even California, are join

    10/09/2013 7:14:42 AM PDT · by thackney · 4 replies
    Forbes ^ | 10/08/2013 | David Blackmon
    Almost lost in all the news about the federal government “shutdown” (which has somehow left 83% of the government funded and functioning) over the last week are several new reports regarding the ongoing massive oil and natural gas Shale Revolution in the United States, First is a new projection from the US Energy Information Agency showing that the United States will likely become the world’s largest producer of petroleum products and natural gas hydrocarbons in 2013. Next is this report about the Eagle Ford shale, detailing that this play a) could become the largest onshore oil reserve ever discovered in...
  • Ashtabula will receive Texas-size shale boost

    10/07/2013 8:48:55 PM PDT · by 2ndDivisionVet · 14 replies
    Crain's Cleveland Business ^ | October 6, 2013 | Dan Shingler
    Ashtabula is about to benefit from the Utica shale boom, as a Texas energy company and a technology firm from Columbus plan to build a gas-to-liquids processing plant in the city. Houston-based Pinto Energy said it will spend about $300 million to build the plant, which is expected to be completed and online in early 2016. The plant would take processed natural gas from the Utica and Marcellus shale plays and convert it into diesel fuel, high-end lubricants and industrial waxes used in cosmetics, pharmaceuticals and other products. Once finished, the plant will employ about 30 people, but Pinto said...
  • U.S. Fracking Success Threatens Russian Economy, Strategy

    10/03/2013 6:04:46 PM PDT · by raptor22 · 12 replies
    Energy Revolution: America's natural gas boom threatens Russia's economic strategy, an expert says, leaving it with few alternatives to rescue its economy while threatening to shatter its energy stranglehold on Europe. Russia's abundance of energy resources has long allowed it to use energy both as a foreign policy weapon and as the bedrock of the Russian economy. Whenever energy prices rose, Russia benefited and its neighbors often felt the restraining leash of dependence on Russian energy, particularly natural gas. Government-controlled energy giant Gazprom was in such a strong position it could demand decade-long contracts and link the price of gas...
  • Sweetwater to Host 'Shale Show' (George P. Bush will be presenting)

    09/30/2013 8:13:17 PM PDT · by 2ndDivisionVet · 2 replies
    Big Country ^ | September 30, 2013
    Shale Show 2013 will take place Tuesday-Wednesday, Oct. 1-2 at the Nolan County Coliseum in Sweetwater’s Newman Park. Shale Show is an energy technology showcase, business networking, and information sharing event that will be held in every odd-numbered year in Sweetwater, in the heart of the Cline Shale and America's Energy Solutions Region. Shale Show is open free to the oil and gas industry, regional leaders and businesses, and to the general public. A very limited number of indoor and outdoor display spaces are still available for a fee. Shale Show is a nationwide event. With more than 150 exhibitors...
  • Salazar Rules Blamed for Shell’s Departure

    09/27/2013 6:44:46 AM PDT · by george76 · 19 replies
    Colorado Observer. ^ | September 26, 2013 | Audrey Hudson
    A decision this week by Shell to shutter its oil shale operation in Colorado to pursue other ventures in Jordan and Canada highlights the difficulties faced by developers in the state as they wrestle with uncertain rules under the Obama administration. Royal Dutch Shell was one of the most successful companies in the state in its efforts to develop a cost-efficient technique to extract oil from shale rock. But the final act of Ken Salazar as Interior secretary earlier this year to rewrite industry rules left companies in limbo with undeterminable royalty rates, and blocked them from obtaining leases for...
  • Drilling beyond the Eagle Ford Shale

    09/23/2013 8:42:06 AM PDT · by thackney · 12 replies
    Fuel Fix ^ | September 22, 2013 | Jennifer Hiller
    The Eagle Ford Shale is more than just the Eagle Ford. Operators in South Texas are drilling into other rock formations, taking horizontal turns — and in some cases getting big results. While the Eagle Ford appears to be the mother lode — the largest and most prolific South Texas formation — several other rock layers sitting above or below it also are producing oil or gas. Jeff Seiler, managing director of the banking firm Scotia Waterous, has tracked Texas drilling permits and found hundreds of cases of companies targeting other South Texas formations, especially the Olmos Sandstone, Austin Chalk,...
  • University Of Texas-Shale Gas Study Unmasks Politics Of Anti-Fracking Activist Cornell Scientists

    09/19/2013 11:58:26 PM PDT · by 2ndDivisionVet · 8 replies
    Forbes ^ | September 18, 2013 | Jon Entine
    One of the central tenets of anti-shale gas activists—claims that carbon pollution from methane leaked during the hydraulic fracturing extraction process makes natural gas more polluting than coal—took another, likely fatal, hit this week. A University of Texas-Austin study released Monday found that methane emissions from new wells being prepared for production, a process known as completion, captured 99% of the escaping methane—on average 97% lower than estimates released in 2011 by the Environmental Protection Agency. It is the most comprehensive shale gas emissions study ever undertaken on methane leakage, covering 190 well pads around the United States. Methane is...