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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

    Wood Mackenzie: US Lower 48 oil economics still robust

    Mar 24, 2015

    Wood Mackenzie's breakeven analysis of more than 800 individual assets in the US Lower 48 reveals dramatic variations in the viability of company asset bases and sub-plays. While the majority of production is not at risk in the long term, cash flow and funding limitations could impact activity.

     

    Bakken and Eagle Ford shale oil production flat in February

    Mar 19, 2015

    In February, shale oil production in the Bakken and Eagle Ford shale plays increased by 19,000 barrels per day, or 1%, according to Bentek Energy, an analytics and forecasting unit of Platts.

    Roth and Ghauri join Jones Walker’s Houston office

    Mar 16, 2015

    David R. Roth and Shahid A. Ghauri have Jones Walker LLP’s Houston office. Roth is a partner in the Real Estate Practice Group and Ghauri is a partner in the Business and Commercial Transactions Practice Group. 

     

    Lucas and Victory enter into collaboration and funding agreements

    Mar 4, 2015

    Lucas Energy Inc. has entered into a collaboration agreement and a separate funding agreement with Victory Energy Corp. These agreements represent a milestone toward completing the planned business combination with Victory. 

    Mexico’s bidding round for shallow water kicks off

    Mar 2, 2015

    Mexico’s National Hydrocarbons Commission recently published the bidding and contract terms for the first 14 oil and gas areas in shallow waters, kicking off the first phase of Mexico’s bidding round for exploratory oil and gas blocks in the Gulf of Mexico.

    Wood Mackenzie: Oil sands cash flows to fall by $23B in next two years

    Feb 24, 2015

    The operational cost of extracting bitumen from Canada's oil sands tops out at $37 per barrel for in-situ projects and $40 per barrel for mining projects, according to Wood Mackenzie's latest analysis.

    Marathon to further reduce drilling budget

    Feb 20, 2015

    After reporting an operating loss in the final quarter of 2014, Marathon Oil Corp. plans to further reduce its drilling budget, the company said Wednesday.

    Republic Services acquires Tervita

    Feb 18, 2015

    Republic Services Inc. has completed its acquisition of Tervita LLC, an environmental waste solutions provider serving oil and natural gas producers in the US.

    Phillips 66 Partners to acquire equity interests in pipeline systems for $1B

    Feb 17, 2015

    Phillips 66 Partners LP has reached an agreement with Phillips 66 to acquire Phillips 66's interests in three pipeline systems.

    US sets 2014 M&A record, driving global values to $185 billion

    Feb 16, 2015

    PLS reports that global upstream M&A markets saw an impressive 30% rise in deal value to $185.0 billion in 2014, mostly thanks to skyrocketing acquisition activity in the US.

    WoodMac: 2015 upstream CAPEX to surpass $4B in SCOOP core

    Feb 10, 2015

    Even in the current price environment, the best producing parts of the South-Central Oklahoma Oil Province (SCOOP) are on par with the Eagle Ford and Bakken shale plays, according to Wood Mackenzie’s latest key play analysis.

    Lucas granted NYSE MKT compliance plan extension

    Feb 10, 2015

    The NYSE MKT (the Exchange) has notified Lucas Energy Inc. that the company has been granted an extension until March 31 to regain compliance with the NYSE MKT continued listing standards.

    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.

    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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