Category: Shale

Magnum Hunter issues $150M in stock to private investor

Oil and gas producer Magnum Hunter announced the sale of $150 million of its common stock to investors as part of a plan to fund a new rig and acreage in the Marcellus and Utica Shales.  More »

Shakeout threatens shale patch as frackers go for broke

The U.S. shale patch is facing a shakeout as drillers struggle to keep pace with the relentless spending needed to get oil and gas out of the ground.  More »

UK says South England holds billions of barrels of shale oil

Shale rock underneath some of the wealthiest counties in southern England may contain billions of barrels of oil, a new government report said.  More »

Estimate of recoverable Monterey Shale oil slashed

The new figure, about 600 million barrels, falls short of the previous estimate of 13.7 billion barrels of recoverable oil that led to a speculation boom among oil companies.  More »

Chesapeake chasing ‘all-but-forgotten’ shale assets

Just a month after BP decided to take a $521 million hit to abandon its plans for the Utica Shale, Chesapeake Energy last week called the region its “newest world-class asset.”  More »

Report: Horizontal rigs surging in Permian Basin

Half the increase in horizontal drilling over the last five months has happened in the Permian Basis, according to a new U.S. Energy Information Administration report.  More »

Q&A: Psychology had a role in smaller companies’ shale edge

Smaller companies may have had more success in shale plays, at least so far, because risks had the potential for greater individual rewards than a larger company would offer.  More »

Expert: Shale is a U.S. phenomenon

Shale drilling is an American phenomenon, and likely will stay that way for several more years, geopolitical strategist Peter Zeihan said this week in San Antonio.  More »

Mexico’s energy reform could take a bite out of US shale-gas sellers, EIA chief says

A top U.S. energy official said Thursday he’d like to get together with Mexican authorities and pour over natural gas production forecasts to understand how much Mexico’s energy reform may set back U.S. shale-gas sellers.  More »

Smaller-scale advances driving shale gas innovations

Investors’ growing reluctance to back big, complex projects is driving the energy industry to break up its infrastructure plans into smaller pieces, potentially putting new projects and technology development into the hands of many more players, energy executives said Thursday.  More »

Commerce official: US output booms while federal lands wilt

The United States will need to produce as much oil and gas as it can muster to prepare for massive global demand growth over the next four decades, a U.S. Chamber of Commerce official said Thursday.  More »

Shale boom sends U.S. crude production to 28-year high

Output rose 78,000 barrels a day to 8.428 million, the most since October 1986, according to Energy Information Administration data.  More »