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  • 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 Bakken, Eagle Ford, Marcellus, Fayetteville, Woodford, Niobrara, Haynesville, 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

    Eagle Ford

    Eagle Ford Shale Description ImageThe Eagle Ford shale formation in South Texas runs from the US-Mexico border north of Laredo in a narrow band extending northeast for several hundred miles to just north of Houston. It is located directly below the Austin Chalk. The average thickness of the Eagle Ford shale is about 475 feet. The more active part of the region is mainly in McMullen, Maverick, Dimmit, La Salle, Karnes, Live Oak, and Atascosa counties. The formation produces both natural gas and oil, but it is the oil-producing and gas condensate areas that are hottest right now.

    Eagle Ford Shale Map

    Houston-based Apache Corp. and EOG Resources are two of the largest lease-holders in the Eagle Ford. Other major players include Petrohawk, Swift Energy, ExxonMobil, ConocoPhillips, Murphy Oil, Chesapeake, Cabot Oil & Gas, and Pioneer Natural Resources.

    Eagle Ford Shale News

    Matador promotes London and Singleton

    Feb 6, 2015

    Matador Resources Co. has promoted Vice President and General Manager Ryan C. London to executive vice president and general manager. In addition, Vice President–Land Van H. Singleton II has been promoted to executive vice president – Land.

    Royalty Partners files for Chapter 11 bankruptcy

    Feb 5, 2015

    Royalty Partners LLC, a privately held company with holdings in the Eagle Ford shale play, has filed for Chapter 11 bankruptcy reorganization in the US Bankruptcy Court Southern District of Texas in Victoria.

    Lucas provides financial obligations and operations update

    Feb 3, 2015

    Lucas Energy Inc. has failed to make a required principal payment that was due on Dec. 13, 2014, under the terms of an amended loan agreement. On Jan. 26, Lucas received notice from a representative of its lender that Lucas had defaulted on a payment. Consequently, the amount owed under the loan agreement of approximately $7.7 million will accrue at a default interest rate of 18% per annum.

    Forum Energy Technologies acquires J-Mac Tool

    Feb 3, 2015

    Forum Energy Technologies Inc. has acquired J-Mac Tool Inc., which manufactures hydraulic fracturing pumps, power ends, fluid ends, and other pump accessories. 

    Alta Mesa terminates Eagle Ford PSA

    Jan 30, 2015

    Alta Mesa Holdings LP has terminated a purchase and sale agreement with ReOil Eagle I LLC related to the divestiture of Alta Mesa's Eagle Ford shale play assets.

    Fitch: Gas rig uptick illustrates capital allocation optionality

    Jan 30, 2015

    The recent uptick in gas-directed rigs illustrates the capital allocation optionality and potential value available to some North American exploration and production companies, according to Fitch Ratings.

    US O&G deal values reached 10-yr high of $321.5B in 2014

    Jan 29, 2015

    Mergers and acquisitions in the oil and gas industry hit 10-year highs in terms of deal value and volume in 2014, according to PwC US.

    Sanchez begins exchange offer for senior notes due 2023

    Jan 26, 2015

    Sanchez Energy Corp. has begun an exchange offer of up to $1,150,000,000 million aggregate principal amount of its 6.125% senior notes due 2023 that have been registered under the Securities Act of 1933, as amended, for an equal amount of its outstanding 6.125% senior notes due 2023 that have not been registered under the Act. 

     

    Burleson attorneys receive board certification in oil, gas, and mineral law

    Jan 23, 2015

    Three attorneys with Burleson LLP – Kene Chinweze, Landon Speights, and Brandon Durrett – have recently earned board certification in oil, gas, and mineral law by the Texas Board of Legal Specialization.

    Bakken and Eagle Ford production up 1.6% in December 2014

    Jan 16, 2015

    Oil production from the Bakken shale play in North Dakota and the Eagle Ford shale play in Texas increased 45,000 barrels per day (b/d), or 1.6%, in December 2014, according to Bentek Energy, an analytics and forecasting unit of Platts, a global provider of energy, petrochemicals, metals, and agriculture information.

    Oil price decline likely to affect local Texas economies and revenues

    Jan 14, 2015

    The dramatic decline in oil prices over the past six months may have implications for economic and revenue trends for certain Texas cities, counties, and school districts, according to Fitch Ratings.

    Sabine Oil & Gas to trade under new "SOGC" trading symbol

    Jan 14, 2015

    Sabine Oil & Gas Corp. reports that the OTCQB ticker symbol for common stock of Sabine has been changed from "FSTO" to "SOGC," effective Jan. 13. In addition, the name change from Forest Oil Corp. to Sabine was completed and effective Dec. 19, 2014. 

    Swift Energy revises 2015 capital budget and provides operations update

    Jan 13, 2015

    Swift Energy Co. has a revised 2015 capital budget range of $100–$125 million in response to recent hydrocarbon price declines. This revised level of activity is projected to yield between 11.2 and 11.4 million barrels of oil equivalent (MMBoe) of production.

    SM Energy to exit US Mid-Continent

    Jan 7, 2015

    SM Energy Co. is beginning a process to sell its assets in the Arkoma Basin of Oklahoma and in the Arklatex area of East Texas and Northern Louisiana.

    US natural gas production in December hits new record

    Jan 7, 2015

    Natural gas production in the US Lower 48 increased by 2.2 billion cubic feet per day (Bcf/d) during  December 2014, according to Bentek Energy, the Platts oil and gas analytics unit.

    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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