Barnett Shale
The Barnett shale in north-central Texas lies in the Fort Worth Basin. Discovered in the 1950s, the Barnett was not commercially viable until the 1980s. Some geologists believe the formation could hold 30 trillion cubic feet of natural gas. A significant part of the drilling has occurred in the Fort Worth metro area, and Chesapeake Energy actually secured rights to drill beneath the Dallas-Fort Worth International Airport.
Drilling in the Barnett shale intensified in the past decade as modern horizontal drilling and hydraulic fracturing techniques were perfected for drilling in shale. Devon Energy, Chesapeake Energy, XTO Energy, and EOG Resources are among the larger players in the Barnett shale. Two years ago, 70% of all US gas shale production came from the Barnett, but that percentage of the total has been declining as production has risen in other plays.
Barnett Shale Map
Barnett Shale News
Chesapeake adds $2.25B Total JV to list of growing partnerships
Feb 1, 2010
Barnett JV most recent in succession of shale partnerships raking in $10.8B for the company in the past 18 months
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Year off to a fast start with M&A deals
Feb 1, 2010
Energy M&A Update is a new monthly feature in OGFJ, brought to you in collaboration with The Rodman Energy Group.
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High gas rate in Eagle Ford prompts Pioneer to form dedicated team
Jan 19, 2010
Pioneer Natural Resources has hit gas at its second significant well in the Eagle Ford Shale, prompting the company to form an asset team specifically focused on future Eagle Ford Shale activity. |
Gateway buys Barnett shale gathering system
Jan 11, 2010
Gateway Energy Corp. has acquired the Hickory Creek Gathering System from Hickory Creek Gathering LP and Range Texas Production LLC for a cash purchase price of $3.9 million. |
Chesapeake Energy sells stake in Barnett
Jan 5, 2010
Chesapeake Energy Corp. has agreed to a $2.25 billion joint venture with Total E&P USA Inc., a wholly-owned subsidiary of Total SA, whereby Total will acquire a 25% interest in Chesapeake's upstream Barnett Shale assets. |
OGFJ100P company update
Jan 1, 2010
IHS Herold Inc., the independent research firm, has provided OGFJ with updated production data for our periodic ranking of US-based private E&P companies.
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Credit increase gives Carrizo access to additional $148M
Dec 16, 2009
The banking syndicate of Houston-based Carrizo Oil & Gas Inc., led by Wells Fargo as administrative agent, has agreed to increase its borrowing base from $284 million to $350 million. |
Australia breaks ground on $48B Gorgon project
Dec 1, 2009
A groundbreaking ceremony in Western Australia has marked the formal start of Chevron's A$43 billion Gorgon project on Barrow Island. |
NAPE: How much oversupply do we really have?
Aug 28, 2009
With US production up, LNG imports up, Canadian imports down and so on and so forth, just how much oversupply is the industry really facing? |
Devon Energy ranks No. 1 in Barnett Shale
Aug 1, 2009
Devon Energy Corp. takes top honors as the No. 1 producer in the Barnett Shale, and the company’s total gas production in that formation alone is enough for the Oklahoma City company to earn distinction as the overall leader in production from shale gas in the United States.
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Ernst & Young study finds industry profits down, long-term commitment remains constant
Jun 22, 2009
The oil and gas industry experienced increased exploration and production costs, a decline in ending oil reserves, and ultimately decreased profits. However, total capital spending for 2008 was up 35% from 2007 and natural gas reserves grew 4% in 2008, demonstrating the industry's long-term vision and commitment to providing a constant supply of oil and gas. |
Natural gas industry to get worse before it gets better
May 21, 2009
Call it the calm before the storm. Despite a drastic decline in rig counts, low demand, coal capacity, and a wave of LNG capacity are set to depress the natural gas industry even further before signs of a rebound.
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Quicksilver divests stake in Barnett shale to Eni
May 19, 2009
Italy-based Eni has executed a strategic alliance with Quicksilver Resources Inc., an independent US natural gas producer, to acquire a 27.5% interest in the "Alliance" area, located between the cities of Fort Worth and Dallas in Northern Texas, which includes production from the Barnett Shale, for $280 million. |
Denbury divests 60% of Barnett shale assets to Talon
May 14, 2009
Denbury Resources Inc. will sell 60% of its Barnett Shale natural gas assets for $270 million to Talon Oil & Gas LLC, a privately-held company. |
Adams Feed #1 gas well drilling at Texas West project
May 13, 2009
Galloway Energy Inc. announced that the "Adams Feed #1" well, which is the first of the previously announced multi-well development program, has commenced drilling at the West Texas project in the Barnett Shale. |
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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