United States
Pennsylvania
Eagle Ford Shale Wells Coming Online At 700 to 1000 Barrels Of Oil ...
The Wall Street Transcript - 17 hours ago
SP Johnson IV has been President and CEO of Carrizo Oil & Gas, Inc., since founding the company in 1993. Previous to that, he worked for 15 years at Shell ...
NGG - BP - XOM
United States
Pennsylvania
Eagle Ford Shale Wells Coming Online At 700 to 1000 Barrels Of Oil ...
The Wall Street Transcript - 17 hours ago
SP Johnson IV has been President and CEO of Carrizo Oil & Gas, Inc., since founding the company in 1993. Previous to that, he worked for 15 years at Shell ...
NGG - BP - XOMPa. shale gas production increasingUPI.com - 1 hour ago 17 (UPI) -- Natural gas production from the Marcellus shale gas play in Pennsylvania increased substantially during the first six months of 2011, the government said. Hydrofracking a boom-bust endeavor Albany Times Union Sierra Club warns of side effects from gas drilling in Raleigh County Beckley Register-Herald Iowan Shale Play? Texas Gov. Rick Perry Thinks So.StateImpact Pennsylvania - Susan Phillips - 11 hours ago In fact, lots of people knew about the Eagle Ford Shale play long before they started to tap it for natural gas. And geologists knew about the Marcellus Shale. What gas industry engineers didn't know, was how to drill economically until they developed ... ARCADIS Welcomes Steven Lewandowski to Company as Shale Gas Program ManagerSacramento Bee - 17 minutes ago 17, 2011 -- /PRNewswire/ -- ARCADIS (EURONEXT: ARCAD), the international consultancy, design, engineering and management services company, announced today that Steven P. Lewandowski has joined the firm to lead the ARCADIS Marcellus Shale Gas program, ...  Shale gas no game-changer for EuropePetroleum Economist - 5 hours ago The greatest potential lies in shale-gas development, but Europe's petroleum systems seem to be smaller in size compared with successful USplays: shales are often deeper and there has been a far greater degree of tectonic activity.  Emerging Shale Oil PlaysInvesting Daily - Peter Staas - Aug 11, 2011 In The Future of Shale Gas is International, we opined that major international oil and natural gas companies were investing heavily in US shaleplays to gain experience that would translate to fields outside the US. Argentina's Neuquen Basin is home ... Oil drilling possible in 2012 Farmington Daily Times  'Shale gale' to drive US energy dealsUpstream Online - Aug 10, 2011 A significant area of growth, however, was shale plays with seven of the top 10 deals involving the growing sector. “Shale-gas assets continue to be very attractive acquisition targets as multinationals look to gain technical know-how and exploit the ... Wood Mackenzie: Playing a smart shale gas hand PennEnergy- Energy News (press release) Shale Plays, Midstream Assets and Foreign Investments Drive U.S. Oil & Gas M&A ... PR Newswire (press release)  Hunting for balance in state gas regulationScranton Times-Tribune - Aug 12, 2011 However, the footprint of the Marcellus Shale gas play in Pennsylvania mirrors much of our prime hunting and fishing areas. NEOS GeoSolutions Launches Geoscience Program in Pennsylvania Business Wire (press release) The Case for a Natural Gas Severance Tax Council on Foreign Relations (blog)  Devon Energy's Barnett Shale bet pays offFort Worth Star Telegram - Jack Z. Smith - Aug 12, 2011 About 2500 are in "the liquids-rich portion of the play," Foster said. Natural gas liquids such as ethane, propane and butane generate higher profit margins.  Just hot air?The Southland Times - Aug 15, 2011 Motels and stores do a roaring trade as drillers flood in to service the shale gas rigs scattered across the largely rural area, which happens to be atop the richest shale deposits yet discovered, known as the Marcellus play. Craig Sautner and his wife ... Shaky U.S. economy won't benefit from natural gas expansionphillyBurbs.com (blog) - Kate Fried - Aug 7, 2011 China National Offshore Oil Corp (China, government-owned): Agreed to pay $2.2 billion for access to a shale play in south Texas in October 2010; agreed to pay $570 million in cash for a third of Chesapeake's Niobrara shale basin in Colorado and ... Fracking: Promise--and Peril Southern Pines Pilot  Lloyds Plans to Help Finance Investments in Australian Shale GasBloomberg - James Paton - Aug 9, 2011 “The next shale gas opportunity will be Australia,” Andrew Moorfield, managing director and global head of oil and gas at Lloyds, said in a phone interview from Sydney. Beach thinks big in Cooper shale-gas basin Petroleum Economist Beach Energy Limited (ASX:BPT) Announce 2 TCF Resource Booking For Shale Gas Wells ABN Newswire (press release) ASX:BPT - LYG - PINK:BEPTF  Derivatives tear Antero's netUpstream Online - Aug 15, 2011 This was despite revenue from gas sales booming from $92.51 million to $147.55 million as average gas prices grew 15% and total production was up 78% to 20.1 billion cubic feet equivalent as new wells were added in the Marcellus shale play. Marcellus production gives Antero new record Gas Business Briefing Antero Resources Reports Second Quarter 2011 Results, Net Resources and ... SYS-CON Media (press release) |
Chesapeake New Ohio Oil Discovery In Utica Shale
In a press release dated July, 28, 2011, Chesapeake Energyannounced a major new discovery of a liquids rich shale play in Eastern Ohio. The Utica shale is a rock layer located underneath the Marcellus shale and could be the “next big thing”. Geologists believe that the Utica shale could prove to hold enormous amounts of natural gas and liquids, even rivaling the massive Marcellus shale in terms of potential for oil and gas. Chesapeake Energy has significant holdings in the Utica shale and believes that it may hold more potential for the company than even the Eagle Ford shale in South Texas. The company has been referring to an “undisclosed shale play” for several months, now we have the official word. Chesapeake Energy holds over 1.25 million acres in the Utica shale.“Having achieved successful results from recent drilling activities in eastern Ohio, Chesapeake is announcing the discovery of a major new liquids-rich play in the Utica Shale. Based on its proprietary geoscientific, petrophysical and engineering research during the past two years and the results of six horizontal and nine vertical wells it has drilled, Chesapeake believes that its industry-leading 1.25 million net leasehold acres in the Utica Shale play could be worth $15 – $20 billion in increased value to the company.
Chesapeake’s dataset on the Utica Shale includes approximately 2,000 well logs, full-suite petrophysical data on approximately 200 wells, 3,200 feet of proprietary core samples from nine wells and production results from three wells. As a result of its analysis, the company believes the Utica Shale will be characterized by a western oil phase, a central wet gas phase and an eastern dry gas phase and is likely most analogous, but economically superior to, the Eagle Ford Shale in South Texas.
Chesapeake is currently drilling in the Utica Shale with five operated rigs to further evaluate and develop its leasehold and anticipates increasing its rig count to eight by the end of 2011 and reaching at least a range of 16-20 rigs by year-end 2012.
Also, the company believes that its leasehold position in the Utica Shale will support a drilling effort of at least 40 rigs by year-end 2014. Chesapeake is currently conducting a competitive process to monetize a portion of its Utica Shale leasehold position, which will be through an industry joint venture process or through a number of other monetization alternatives. The company anticipates completing a Utica Shale transaction in the 2011 fourth quarter.” Source: Marketwire press release, July, 28, 2011.
Chesapeake Energy is already in a partnership agreement in the Eagle Ford shale with CNOOC, China’s national oil company. No disclosures have been made about partnership agreements in the Utica shale at this time.
Located approximately 3000′ below the Marcellus shale in Ohio, The Utica shale is proving to be another liquids rich shale play in the United States. We will bring you more Utica shale updates as the play evolves.
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