Unconventional Resources
Shale plays first come to mind when one considers unconventional resources. These unconventional resource plays may yield natural gas, gas condensates, and crude oil. Some of the more noteworthy shale plays in North America include the Barnett, Haynesville, Marcellus, Eagle Ford, Fayetteville, Woodford, Bakken, Niobrara, Horn River, and Utica formations. Tight gas, coalbed methane, oil sands, and heavy oil are non-shale unconventional resources.
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Eagle Ford |
Bakken |
Shale Gas Plays |
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Entities outside the US and Canada are funding a surprisingly large share of development in unconventional oil and gas plays – and that trend should continue. Typically these are IOCs, state-backed investment groups or other foreign-based entities investing not only for financial gain but also to acquire technical knowledge about unconventional oil and natural gas development that can be applied in undeveloped shales in their own countries. In return
US and Canadian energy companies receive funding to develop important
shale plays and establish new reserves.
Read more here.
It has rarely happened in oil and gas history: Today just a handful of resource plays, mainly shales with an abundance of crude oil and liquids targets, accounts for a major share of all spending for land drilling and development in the United States. In fact, it adds up to an astounding $54 billion for just seven resource plays in 2012.
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U.S. energy investors have been enamored with growing crude and liquids-rich plays with increased drilling and development going forward in both the US and Canada. However, the advent of widespread use of hydraulic fracturing has resulted in great strides for oil completions in the Bakken Shale of North Dakota and Montana.
Read more here.
Latest Unconventional News
Illinois governor signs strong state hydraulic fracturing regulations
Jun 19, 2013
Illinois Governor Pat Quinn has signed the state’s Senate Bill 1715 – the Illinois Hydraulic Fracturing Regulatory Act – into law. The law, which takes effect immediately, enacts the nation’s strongest environmental protections for hydraulic fracturing. |
Johnson joins Wood Group Mustang's Onshore Business Unit
Jun 19, 2013
Wood Group Mustang's Onshore Business Unit has appointed Charles Johnson to the position of general manager, Bakken region. He will oversee the growing Wood Group Mustang presence in the region from the company's regional in Minot, North Dakota. |
Schlumberger acquires Gushor Inc.
Jun 19, 2013
Schlumberger has acquired Gushor Inc., a petroleum geochemistry and fluid analysis company based in Calgary, Alberta, Canada, that provides exploration and production (E&P) solutions in the heavy oil and oil sand industry. |
Natural Resource Partners enters Bakken as Abraxas shifts focus with sale
Jun 17, 2013
Natural Resource Partners LP has entered the Bakken Shale/Three Forks play with an agreement to purchase non-operated working interests in producing oil and gas properties in the Williston Basin of North Dakota and Montana from Abraxas Petroleum Corp. for approximately $35.3 million in cash. |
GeoMet closes sale of Alabama coalbed methane assets
Jun 17, 2013
On June 14, 2013, GeoMet Inc. closed the previously announced sale of all of its coal bed methane properties located in the state of Alabama. |
Chesapeake, foreign partners set for big US shale spend in 2013
Jun 17, 2013
Analyzing Evaluate Energy’s recently released 2013 capital expenditure and average well cost data for the major US shale plays, it becomes clear that foreign companies will have a huge influence on how the industry develops over the coming year. |
Constitution Pipeline seeks FERC approval to construct Marcellus connection
Jun 16, 2013
Constitution Pipeline Company LLC, a limited liability company owned by subsidiaries of Williams Partners LP, Cabot Oil & Gas Corp., Piedmont Natural Gas Co. Inc., and WGP Holdings Inc., has filed an application with the Federal Energy Regulatory Commission (FERC) seeking approval to construct a 122-mile pipeline connecting domestic natural gas production in northeastern Pennsylvania with northeastern markets by spring 2015. |
Crew to purchase balance of Terra Energy's unconventional Montney assets
Jun 16, 2013
Crew Energy Inc. has exercised the option to purchase the balance of Terra Energy Corp.’s Montney assets in northeast British Columbia for $36 million. |
Pardee Resources names Lopus as senior executive for oil and gas
Jun 14, 2013
Pardee Resources Co. (PRC) has named Thomas A. Lopus as senior vice president, oil and gas. Pardee Resources is a Philadelphia-based firm that focuses on the acquisition, management, and responsible development of natural resource properties. |
Centrica acquires interest in UK shale exploration license
Jun 13, 2013
Centrica plc has acquired a 25% interest in the Bowland exploration license (PEDL165) in Lancashire from Cuadrilla Resources Ltd (Cuadrilla) and AJ Lucas for £40 million ($62.8 million) in cash. |
The “natural gas revolution” is changing global energy dynamics, including the outlook for energy security in the United States and elsewhere. In his keynote speech to the annual 31st annual CERAWeek Executive Conference in Houston, Peter Voser, CEO of Royal Dutch Shell plc, outlines what the industry and policymakers must do to ensure society fully leverages the many benefits of natural gas. He calls for well-targeted and robustly enforced regulations to ensure tight and shale gas production meets the highest standards. He also urges the industry to do a better job of listening and responding to public concerns about the environmental and operational challenges associated with gas production.
Read the full speech by Peter Voser here.
The total value of US oil and gas mergers and acquisitions increased significantly in 2011 due to continued investment in US shale plays and related infrastructure, sustained interest from foreign buyers, and private equity entrants deploying capital in the energy industry, according to an analysis of energy M&A data by PwC US. A major trend in the energy sector driving the increase in deal value throughout the year was a shift towards more investments in oil and liquid plays as natural gas prices remained depressed amid hitting a 10-year low in 2011.
Read more here.
Can the shale gas r
evolution currently taking place in the US be repeated elsewhere? Although significant volumes of unconventional gas deposits are present in Poland, France, Germany, Hungary, Sweden, Turkey, and the UK, shale gas developments are running many years behind their counterparts in the US. Skeptics have pointed out that differences in geology, taxes, public acceptance, environmental regulations and other factors in Europe vs. the US make for a tougher environment in which to develop unconventional resources.
Read the article by Bart J. A. Willigers of Palantir Solutions Ltd. here.
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