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

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.

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 Map

Eagle Ford Shale Play Map

Eagle Ford Shale News

Newfield updates production, capital outlook for 2014-2016

Dec 14, 2013

Newfield Exploration Co. has updated its production and capital investment outlook for 2014-2016, which is expected to yield more than a 20% compound annual growth rate (CAGR) in liquids production and a 25% CAGR in cash flow.

 

 

Resource plays and capital players in the global deal landscape

Dec 12, 2013

PLS reports that from October 17 to November 16, global deal activity totaled $12.6 billion in 49 deals. As of press time on November 25, Q4's tally has reached $27.0 billion in 84 deals – as compared to Q3 2013's $41.8 billion in 239 deals.

Aurora Oil & Gas

Dec 12, 2013

Think back to 2005. Oil prices were approximately $40.00 per barrel and the shale revolution had yet to begin. The thought of US energy independence was virtually unimaginable.

Abraxas sells WyCross for $73 million

Dec 10, 2013

Abraxas Petroleum Corp. has an agreement to sell the company’s Eagle Ford interests at WyCross in McMullen County, Texas, for $73 million to an undisclosed buyer.

Hess to sell its Indonesian assets

Dec 2, 2013

Hess Corp. has entered into two separate agreements with a joint venture between PT Pertamina and PTT Exploration and Production Co. Ltd. to sell its interests in both the Pangkah and Natuna A assets located off the coast of Indonesia for $1.3 billion.

Comstock Resources makes East Texas Eagle Ford acquisition

Nov 21, 2013

Looking to boost its oil production, Frisco, TX-based Comstock Resources Inc. has acquired Eagle Ford shale acreage in East Texas from Ursa Resources Group II LLC.

Sanchez Energy expands revolving credit facility

Nov 21, 2013

Sanchez Energy Corp. has received commitments from its lending group to increase its available borrowing base under its $500 million first-lien revolving credit facility from $175 million to $300 million.

GeoSouthern sells $6B in Eagle Ford assets to Devon

Nov 20, 2013

Securing Eagle Ford shale play acreage and adding substantial US oil production to its portfolio, Devon Energy Corp. has agreed to a $6 billion cash deal with privately-held GeoSouthern Energy.

HII Technologies acquires Aqua Handling of Texas

Nov 15, 2013

HII Technologies Inc. has acquired Aqua Handling of Texas LLC, an oilfield frac water-transfer service company located in the Eagle Ford shale area of South Texas, which operates under the name AquaTex.

Lucas Energy appoints new board chairman

Nov 15, 2013

Lucas Energy reports that Ken Daraie has been appointed as chairman of the company’s board of directors. 

Spectra Energy secures contracts for US Gulf expansion project

Nov 14, 2013

Spectra Energy Corp. and Spectra Energy Partners report that they have executed new long-term contracts for 650,000 dekatherms per day of natural gas shipments on the Texas Eastern pipeline system to support the growing manufacturing sector and liquefied natural gas export industry along the Texas and Louisiana coast.

NET Midstream receives pipeline permit

Nov 14, 2013

NET Midstream reports that its affiliate, NET Mexico Pipeline Partners LLC, has been issued a Presidential Permit by the Federal Energy Regulatory Commission that grants authorization for certain border crossing facilities between the US and Mexico.

Calumet expands crude oil logistics network

Nov 9, 2013

Calumet San Antonio Refining LLC has an agreement with TexStar Midstream Logistics LP for which TexStar will construct, own and operate a 30,000-barrel-per-day crude oil pipeline system that will supply Eagle Ford crude oil to Calumet's San Antonio, Texas, refinery.

ConocoPhillips boosts earnings with asset sales

Oct 31, 2013

ConocoPhillips has received $749 million from the sales of undeveloped oil sands holdings in Canada and a midstream asset in Trinidad and Tobago. The company has also sold its holdings in a Kazakhstan oil field for $5.4 billion.

Goodrich prices public offering of common stock

Oct 16, 2013

Goodrich Petroleum Corp. has reported the pricing of its public offering of 6,000,000 shares of its common stock at $25.25 per share.

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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