According to Goldman Sachs, more than $1.2 trillion will be spent in the next five years on oil and gas projects around the world.

Hoping to access the potential of Canada’s Canol shale play, MGM Energy Corp. has partnered with Shell in the Central Mackenzie Valley.

Gravis Oil Corp. has entered into a non-binding letter of intent with Petro River Oil LLC, a privately held Delaware limited liability company that would result in Gravis acquiring Petro for common stock, the name of Gravis changed and the company redomiciled to Delaware. 

Rockwater Energy Solutions Inc., a fluids management and environmental solutions provider to the oilfield industry, has assigned a strategic agreement with Neohydro Corp., headquartered in Houston, Texas.

JBL Energy Partners, an oil and natural gas exploration and production company, and its partners, said June 20 that it has entered into a joint venture partnership with Terrace Energy LLC in Fort Worth, Texas on one of its Woodbine prospects.

In what appears to be an abrupt turnabout, Texas-based Exxon Mobil Corporation [NYSE: XOM] said on Monday, June 18 that it will not pursue shale gas exploration in Poland.

Houston-based Apache Corporation [NYSE, Nasdaq: APA] on June 14 released a new, detailed resource estimate of its oil- and liquids-rich portfolio, including substantial holdings in the Permian Basin and Anadarko Basin, recently acquired acreage in the liquids-rich Mississippian Lime and Williston Basin resource plays, and significant new plays and oil exploration prospects in Canada, Argentina, Alaska, and Kenya.

Natural gas production from shale, coal bed methane and tight sands is expected to generate significant job creation, economic growth, and revenue for federal, state and local treasuries throughout the US in gas "producing" and "non-producing" states alike, according to a new IHS Global Insight study.

Delegates at the World Gas Conference in Kuala Lumpur believe China has the potential to overtake North America and become the world’s leading producer of shale gas by 2030, according to a poll conducted by GL Noble Denton.

The burgeoning development of shale gas plays across the US has changed the playing field for long-haul pipelines, according to a report published June 5 by Standard & Poor’s Ratings Services titled “The Shale Gas Boom Is Shaping US Gas Pipelines’ New Reality.”

Peter Voser, the CEO of Royal Dutch Shell, told a group of reporters at a news conference in Kuala Lumpur, Malaysia, June 5 that the oil major will apply its technology, operational expertise, and global experience to jointly develop shale gas in China with state-controlled China National Petroleum Corp.

Allen Gilmer, Drilling Info's chairman and CEO, spoke at an invitation-only lunch presentation May 23, at the Calgary Petroleum Club in Calgary, Canada. After being introduced by Energy Navigator's CEO Boyd Russell, Gilmer focused on the analytical approach to the development of global unconventional plays.

Knoxville, Tenn.-based Aqua-Chem, Inc. has named Thomas Gillcrist as CFO and Ron Shook as pharmaceutical applications engineer. They will report directly to David Gensterblum, president and CEO.

_On April 9 Oklahoma City-based Chesapeake Energy Corporation (NYSE:CHK) announced three oil and gas asset monetization transactions for total proceeds of approximately $2.6 billion in cash.