Category: Shale

Moody’s: New Chinese plants could hamper global refining earnings

Cheap natural gas and oil supplies will give Gulf Coast refiners an edge in global markets, but over the next two years new plants coming online in China and the Middle East are poised to dampen worldwide demand for refined products like gasoline, according to a report released Monday.  More »

Report: Bakken oil output to soar as spending hits $15B

Oil production in North Dakota and Montana’s Bakken and Three Forks formations will average 1.1 million barrels per day this year, according to estimates announced Wednesday by a research firm.  More »

Chevron, Polish firm jointly explore for shale gas

Poland’s gas giant PGNiG says it has signed an agreement with Chevron to jointly hunt for shale gas in southwestern Poland in a move to speed up the exploration.  More »

Neighbors bicker in Pa. over forced gas drilling

Houston-based Hilcorp seeks to use a 1961 Pennsylvania law to drill under the property of four holdout landowners in New Bedford, near the Ohio border an hour north of Pittsburgh. The concept, known as “forced pooling,” means that people who don’t sign leases get bundled in with those who do, to make drilling more efficient and compensate all the landowners.  More »

Q&A: Ears go in the ground to aid fracturing

Houston-based Micro- Seismic uses instruments called geophones on the surface or buried underground to capture and analyze sounds from a well while it’s being fractured. The technology, called surface microseismic, allows operators to customize the fracturing while it’s in progress, improving the efficiency of the resulting hydrocarbon extraction.  More »

Oil rigs in US extend record as Eagle Ford drilling surges

Rigs targeting oil in the U.S. jumped to a record as energy producers used the most in a year to drill for crude in Texas’s Eagle Ford shale formation. Oil rigs increased by 14 to 1,487, the highest level since Baker Hughes split the oil and gas counts in 1987, data posted on the company’s […]  More »

Total plans to drill for shale gas with Sinopec in China

Total SA plans to seek shale gas with China Petroleum & Chemical Corp. by drilling in Anhui province, moving the third-largest European oil company closer to exploiting Chinese reserves that are the world’s biggest. Total and Sinopec, as the Chinese refiner is known, will search for gas in the 4,000 square-kilometer (1,500 square mile) Xuancheng […]  More »

Study: Tight oil still profitable even if crude prices plummet

Even if global oil prices fell more than $30 per barrel, the overwhelmingly majority of U.S. tight oil production would still be profitable, analysts with Wood Mackenzie said Tuesday.  More »

US to become top exporter of liquefied petroleum gas, experts say

The U.S. is poised to become the top exporter of liquified petroleum gas — more commonly known as propane or butane — within just a few years, officials with research analyst IHS said Monday.  More »

CEO: Rock can get Chesapeake out of hard place

Doug Lawler’s strategy for turning Chesapeake Energy around after a rough spell centers on making the most of what the company already has: great shale positions.  More »

Private equity shifts shale strategy as land grab ends

For KKR & Co. (KKR) and Apollo Global Management LLC (APO), leaders of the biggest shale-field buyouts, the difference between failure and success may come down to 93 days.  More »

Louisiana shale gas sees a second life

The surge in Gulf Coast petrochemicals and in natural gas fired generation, combined with the expected export of liquefied natural gas, could push up Louisiana’s demand for natural gas, creating a voracious market for the Haynesville and Marcellus shales.  More »