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
Quicksilver sells 25% interest in Barnett Shale assets to Tokyo Gas for $485 million
May 1, 2013
Fort Worth, Texas-based Quicksilver Resources Inc. [NYSE: KWK] said March 29 that it has agreed to sell an undivided 25% interest in its Barnett Shale oil and gas assets for US$485 million to TG Barnett Resources LP, a wholly-owned US subsidiary of Tokyo Gas Co. Ltd. |
Q1 2013 totals $21 billion globally as markets pause after Q4 buying spree
May 1, 2013
PLS reports that global upstream oil and gas M&A activity in Q1 2013 slowed to $20.6 billion in 106 deals with values disclosed (176 total deals) compared to a record $140.9 billion in Q4 2012 with 208 deals with values disclosed (306 total deals). |
Quicksilver sells 25% interest in Barnett Shale assets to Tokyo Gas for $485 million
Mar 29, 2013
Fort Worth, Texas-based Quicksilver Resources Inc. [NYSE: KWK] said March 29 that it has agreed to sell an undivided 25% interest in its Barnett Shale oil and gas assets for US$485 million to TG Barnett Resources LP, a wholly-owned US subsidiary of Tokyo Gas Co. Ltd. |
Total to cut US shale gas investment
Jan 10, 2013
Not long ago, supermajors, both foreign and domestic, entered into multi-million and multi-billion dollar agreements with US independents to get in on the North American shale gas boom. With deflated gas prices, it seems some companies may be looking decrease their level of investment. |
Pioneer Natural Resources looks to sell Barnett assets to pursue Permian, Eagle Ford properties
Sep 7, 2012
Looking to capitalize on higher rates of return from its Permian and Eagle Ford positions, Pioneer Natural Resources Co. said Thursday that it is looking to sell the 155,000 gross acres in the Barnett Shale that it has accumulated since entering the play in 2007. |
Moyes & Co. to sell Barnett Combo play leasehold
Jun 19, 2012
Moyes & Co. has been retained as exclusive financial advisor by a private London-based independent to sell an 87% working interest in approximately 2,006 net acres of leasehold with the potential to acquire an additional 952 net acres in eastern Clay County, Texas. Eastern Clay County is located in the western area of the Barnett Combo Play. |
EGPI Firecreek, Cubo Energy to drill in Barnett Shale
Apr 3, 2012
Scottsdale, Ariz.-based EGPI Firecreek, Inc. announced a Letter of Intent to prepare and conduct drilling programs aimed at the Barnett Formation in West Central Texas with U.K.-based Cubo Energy, PLC. |
KKR grows natural gas footprint with third Barnett Shale acquisition
Apr 2, 2012
Expanding on recent acquisitions in various unconventional resource plays across the US, energy private equity firm Kohlberg Kravis Roberts & Co. LP (together with its affiliates, KKR) has agreed to acquire certain Barnett Shale and Arkoma Basin properties from WPX Energy for $306 million. |
Carrizo to sell certain Barnett Shale assets to Atlas for $190M
Mar 16, 2012
Carrizo Oil & Gas Inc. has entered into a definitive agreement to sell a portion of its properties in the Barnett Shale to a subsidiary of Atlas Resource Partners for $190 million in cash. |
Geoscientists to debate hydraulic fracturing Feb. 7 at University of Tulsa
Feb 1, 2012
The University of Tulsa College of Law and the National Energy Policy Institute will host a discussion on hydraulic fracturing on Feb. 7 in the Great Hall at TU’s Allen Chapman Activity Center, 440 S. Gary Ave, in Tulsa Oklahoma. This is the fourth in a series of annual lectures sponsored by Chesapeake Energy. |
EVEP acquires over $1.2B in Barnett Shale assets
Nov 3, 2011
EV Energy Partners and certain other parties related to EnerVest have signed agreements with two companies to acquire over $1.2 billion in liquids-rich Barnett Shale assets in Montague, Wise, Denton, Parker and Tarrant counties. |
Energy Transfer Partners enters Woodford, Barnett Shale midstream agreement with XTO
Oct 21, 2011
Energy Transfer Partners LP announced October 20 that it has entered into a long-term, fee-based agreement with XTO Energy to provide natural gas gathering, processing and transportation services from both the Woodford and Barnett Shale regions. |
Quicksilver Resources to create MLP with Barnett assets to reduce debt
Oct 20, 2011
Forth Worth, TX-based natural gas and crude oil exploration and production company Quicksilver Resources Inc. announced its intent October 19 to create an MLP with a portion of its Barnett Shale assets. |
Encana plans to divest its Barnett Shale properties in North Texas
Aug 25, 2011
Encana Corporation says it intends to sell its North Texas natural gas producing assets in the Fort Worth Basin located in the Barnett Shale play. |
Legend partnerships merge; close $900M Barnett Shale purchase
May 4, 2011
The Legend Natural Gas partnerships have merged into one holding company and closed on the acquisition of $900 million in Barnett Shale assets from Range Resources Corp. |
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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