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 curtails shale gas production in low price environment
Apr 16, 2009
Chesapeake Energy Corp. has elected to curtail roughly 400 million cubic feet (MMcf) per day of its gross natural gas production, mostly from the Barnett shale, due to continued low wellhead prices. |
Chesapeake makes public senior notes offering of $1.4B
Mar 1, 2009
Chesapeake Energy Corp. priced its previously announced public offering of $425 million aggregate principal amount of 9.50% Senior Notes due 2015.
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With $3.3B and a new CEO, XTO ready to start 2009
Nov 24, 2008
Few companies are able to grow CAPEX for 2009, and with that, grow reserves. XTO Energy Inc., however, has a plan. With a budget of $3.3 billion and a new CEO, the company is ready to face 2009.
The company has set a $3.3 million budget for development and exploration expenditures, as well as an additional $500 million allocated for the construction of pipeline infrastructure and compression and processing facilities. |
Shale discoveries changing the energy industry
Oct 27, 2008
US natural gas production is on the rise after 15 years on the decline. The difference? New technological developments making what was once considered "unreachable" deposits accessible.
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Haynesville takes Louisiana by storm, Commissioner speaks
Oct 1, 2008
At the Houston, Texas office of Graves & Co., Louisiana’s Commissioner of Conservation, Jim Welsh, spoke both one-on-one to OGFJ, and to a group eager to hear about the state of Louisiana.
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OGFJ100P company update
Oct 1, 2008
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Haynesville excitement takes Louisiana by storm
Aug 26, 2008
At the Houston, Texas office of Graves & Co., Louisiana's Commissioner of Conservation, Jim Welsh, spoke to a group eager to hear about the state of Louisiana - particularly the economic boom that is expected to accompany the Haynesville Shale development.
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Quicksilver acquires Barnett assets for $1.3B, shows earnings impact from Breitburn equity investment
Aug 1, 2008
Quicksilver Resources Inc. has entered agreements with various private parties including Chief Resources LLC, Hillwood Oil & Gas LP, and Collins and Young LLC to acquire assets associated with the Barnett Shale formation in northern Tarrant and southern Denton counties of Texas, for $1.307 billion.
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Achieving double-digit growth at an exceptionally low cost
Jul 1, 2008
EDITOR’S NOTE: Fort Worth-based Range Resources Corp. operates in Southwestern, Appalachian, and Gulf Coast regions of the United States.
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With Haynesville, seven new unconventional discoveries, Chesapeake increases capital expenditures
May 1, 2008
Chesapeake Energy Corp. has made a new natural gas discovery in the Haynesville Shale in Louisiana.
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Richels urges ‘workable energy policy’
Feb 1, 2008
Energy policy is a hot topic anytime, but especially in an election year. With this in mind, the IPAA and TIPRO chose John Richels, president of Devon Energy, as guest speaker at their monthly luncheon, Jan.
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Chesapeake makes $1.1B sale to boost drilling
Feb 1, 2008
Chesapeake Energy Corp. has monetized a portion of its proved reserves and production in certain Chesapeake-operated producing assets in Kentucky and West Virginia.
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Midstream News
Dec 1, 2007
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TXCO Resources growing,becoming more diversified
Nov 1, 2007
TXCO Resources has seen major changes during the last two years. Its acquisition of privately held Output Exploration LLC in early 2007 doubled proved reserves, significantly increased oil and gas production, and opened new drilling opportunities outside TXCO’s core Maverick basin operating area.
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OGFJ100P company update
Oct 1, 2007
John S. Herold Inc., the trusted independent research firm, has once again provided OGFJ with updated production data for our periodic ranking of US-based private E&P companies. These rankings are based on operated production only within the United States.
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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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