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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

    Permian Basin

    While the first Permian Basin well was drilled back in 1925, the liquids-rich area, comprised of the Midland Basin, the Delaware Basin, and the Marfa Basin, has experienced a revival of activity as the oil and gas industry's interest in unconventional resources grows along with new technologies and oil prices.

     

    Permian Basin

    Permian Basin News

    OXY unveils succession plan for CEO; promotes Hollub to new senior post

    Tue, May 5, 2015

    Occidental Petroleum Corp.’s board of directors has approved a CEO succession plan and promoted Vicki A. Hollub to senior executive vice president of Occidental and president of Oxy Oil and Gas, responsible for operations in the US, Middle East region, and Latin America. The board plans for Hollub to succeed Stephen I. Chazen as CEO of Occidental after a transition period.

    Weir Oil & Gas, Rolls-Royce’s MTU form JV for fracking power system development

    Tue, May 5, 2015

    Weir Oil & Gas and the Rolls-Royce Power Systems company MTU are forming a new joint venture company to oversee the development of their new power system, which is designed to make hydraulic fracturing operations more efficient. The new joint venture company, which will be named at a later date, is expected to be in operation by the beginning of 2016.

    Quantico receives support from Shell Technology Ventures and Statoil Technology Invest

    Tue, May 5, 2015

    Quantico Energy Solutions, a company providing data-driven solutions for shale drilling and completions programs, has closed a Series A financing round that will support the growth of its innovative horizontal logging solutions. Quantico has developed a solution for generating synthetic sonic and density logs with information routinely collected during the drilling of shale wells.

    Newfield reorganizes regional operating units, closing two offices

    Mon, May 4, 2015

    Newfield Exploration Co. plans to combine its Onshore Gulf Coast and Rocky Mountain business units into one operating region located in The Woodlands, Texas. As part of this restructuring, Newfield plans to close offices in Denver, Colorado, and in Houston, Texas.  

    Far East Energy secures extension of existing loan facility

    Mon, May 4, 2015

    Far East Energy Corp., which operates the Shouyang Coalbed Methane production sharing contract in Shanxi Province, People's Republic of China, has secured an extension of the maturity date of its existing facility agreement with Standard Chartered Bank.

    WPX Energy continues to monetize Marcellus shale holdings

    Mon, May 4, 2015

    WPX Energy has signed an agreement to sell a package of Marcellus shale marketing contracts and to release certain related firm transportation capacity to an undisclosed buyer for in excess of $200 million cash.

    East Valley Industrial Park to construct Bakken unit train logistics hub

    Fri, May 1, 2015

    East Valley Industrial Park LLC has received first round funding for the East Valley Rail Terminal located east of Williston, North Dakota. Contracts have been let for mainline turnout installation and site construction, beginning this summer. Initial operations are scheduled for December.

    Enterprise to build new crude oil and condensate pipeline in Texas

    Fri, May 1, 2015

    Enterprise Products Partners LP has executed long-term agreements that support development of a new 416-mile, 24-inch-diameter pipeline to transport crude oil and condensate from the company’s Midland, Texas, terminal to its Sealy storage facility west of Houston.

    Lonestar Resources acquires Eagle Ford leasehold

    Fri, May 1, 2015

    Lonestar Resources Ltd. has reached definitive agreements to acquire leasehold associated with approximately 6,122 gross/4,047 net mineral acres in La Salle County, Texas. 

    Fitch: Energy sector tops downgrades, due to oil price drop

    Thu, Apr 30, 2015

    The energy (oil and gas) sector accounts for the most downgrades in the first quarter of 2015, at 28%, primarily driven by the drop in oil prices, according to Fitch Ratings.

    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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