Unconventional Oil & Gas

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.

SECTIONS

Eagle Ford | Marcellus | Cline | Permian | Utica | Bakken | Woodbine & Eaglebine

Barnett Shale

Barnett Shale Description Image

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 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.

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.

Midstream News

Dec 1, 2007

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.

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.

Crosstex leverages partnership structure, aims to create value, raise equity for growth

Jul 1, 2007 The management of Crosstex Energy, a midstream energy company, has leveraged the master limited partnership business structure to establish two publicly traded entities.

Chesapeake taps first gas well in unprecedented project at DFW International Airport

Jul 1, 2007 Roughnecks from Chesapeake Energy Corp. lowered a massive gold drill bit into the ground and began drilling for natural gas at Dallas/Fort Worth (DFW) International Airport, starting a new era for both the airport and the energy company.

AN INTERVIEW WITH LARRY OLDHAM: West Texas operator expanding its reach

Dec 1, 2006 OIL & GAS FINANCIAL JOURNAL: Looking at Parallel Petroleum’s (PLLL’s) history since it was formed in 1979, are you still operating in pretty much the same geographical areas and basins that you started out in 27 years ago or has the company expanded into other areas? What is the company’s thinking on this?

Ruling expected soon in ‘trespass by frac’ case

Nov 1, 2006 A lawsuit is pending before the Texas Supreme Court that could determine whether a tort cause of action exists under Texas law for subsurface trespass through hydraulic fracturing.

Tulsa’s Unit Corp. sees opportunities in 3 industry sectors

Aug 1, 2006 Most oil and gas companies the size of Tulsa’s Unit Corp. are easy to categorize.

Chief sells to Devon, Crosstex; transactions total over $2.5 billion

Jul 1, 2006 Devon Energy will acquire the oil and gas properties of privately-owned Chief Holdings for $2.2 billion in cash, including assumed liabilities.

Industry Briefs

Mar 1, 2006 Kerr-McGee Corp. has signed an agreement with W&T Offshore Inc. for all of Kerr-McGee's interest in oil and natural gas properties on the GoM shelf for gross proceeds of about $1.34 billion in cash, subject to certain adjustments.

Building an E&P company and making exit decisions

Oct 1, 2005 Peak Energy Resources Inc. was formed in November of 2002 with an initial equity commitment from Yorktown Energy Partners of $10 million.

Industry is awash in capital, but faces different set of challenges

Jun 1, 2005 In this article, I will describe several macro-economic forces that are in play within the energy business as well as several economic trends worldwide.

A&D market expected to heat up in 2005

Apr 1, 2005 With many of the large independent and major integrated oil and gas companies facing stagnant reserve replacement or falling reserves, industry observers are predicting that asset acquisition and divestiture activity will intensify in 2005.

ConocoPhillips CEO on shale boom: We've only scratched the surface

Technology innovation has expanded the world’s energy resource base and the oil and gas industry will continue to working to supply that growth, said ConocoPhillips (NYSE:COP) chairman and CEO Ryan Lance.

©2014 Michael Stravato. Provided courtesy of the James A. Baker III Institute for Public Policy, Rice University.

Read the full article here. 


US tight oil production averaged 3.22 day MMbbl/d in 4Q13, according to US EIA estimates. This level was enough to push overall crude oil production in the US to an average of 7.84 MMbbl/d, more than 10% of total world production, up from 9% in the fourth quarter of 2012. Read more here

Can the shale gas rBart Willigers, Palantir Solutions Ltd. 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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