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

Piceance/Uinta Tight Gas

Piceance/Uinta Description ImageThe Piceance and Uinta basins are in northeastern Utah and northwestern Colorado. Both the Piceance and Uinta are tight gas resources plays. The primary target of gas development has been the Williams Fork formation, of Cretaceous age, in the Mesaverde group. The Williams Fork is a several-thousand-foot thick section of shale, sandstone, and coal deposited in a coastal plain environment. The formation has long been known to contain natural gas. However, the sandstone reservoirs have low permeability and limited areal extent, which made gas wells uneconomic in the past.

Key players in the Piceance and Uinta resource plays include Chevron, Encana, ExxonMobil, Noble Energy, Bill Barrett Corp., Antero Resources, Delta Petroleum, Laramie Energy, and Harvest Natural Resources – to name just a few.

Piceance/Uinta Map

 

Piceance/Uinta News

Ultra Petroleum prices $450M senior note offering

Dec 10, 2013

Ultra Petroleum Corp. has reported on the pricing of its private placement of $450 million aggregate principal amount of 5.75% senior unsecured notes due 2018 at par.

Ultra Petroleum to offer $400M of senior notes

Dec 3, 2013

Ultra Petroleum Corp. intends to offer $400 million in aggregate principal amount of senior unsecured notes due 2018 in a private placement pursuant to exemptions from registration under the Securities Act of 1933.

Bill Barrett sells natural gas Uinta Basin assets for $371M

Oct 23, 2013

In an effort to shed pure gas assets, Bill Barrett Corp. (NYSE: BBG) has agreement to sell its West Tavaputs natural gas property located in the Uinta Basin, Utah to an undisclosed buyer for $371 million.

Ultra Petroleum takes big step to diversify into oil

Oct 21, 2013

Ultra Petroleum Corp. (NYSE: UPL) has signed a definitive purchase and sale agreement to acquire oil-producing properties located in the Uinta Basin in northeast Utah for $650 million.

Uinta basin crude price discounting

Sep 17, 2013

Summit Midstream Partners name new board member

Aug 15, 2013

Summit Midstream Partners LP has appointed Robert Wohleber to the board of directors of SMLP's general partner. Wohleber was appointed to the board on August 5, and will serve as a member of the board's conflicts committee, compensation committee and audit committee.

Dejour Energy Inc. closes C$3.5 million debt facility

Jun 20, 2013

Dejour Energy Inc. (NYSE MKT: DEJ / TSX: DEJ), an independent oil and natural gas exploration and production company operating in North America's Piceance Basin and Peace River Arch regions, has closed a fixed-term, interest-only C$3.5 million debt facility due December 2014, with Calgary, Alberta, Canada-based Invico Performance Yield Fund Limited Partnership.

Financial discipline and efficiencies set WPX Energy apart from its peers

May 1, 2013

AN INTERVIEW WITH RALPH A. HILL, PRESIDENT AND CEO OF WPX ENERGY

Deal pace picking up as companies shuffle portfolios in pursuit of growth

Apr 1, 2013

PLS reports that, from February 17th to March 16th, global upstream deal activity totaled $13.1 billion bringing the first quarter 2013 tally (through March 16th) up to $20.2 billion.

Upstream News

Feb 1, 2013

WPX Energy makes natural gas discovery in Niobrara formation

Jan 23, 2013

Tulsa, OK-based oil and gas exploration and production company WPX Energy said January 22 that a recent Niobrara gas discovery in western Colorado has the potential more than double the company’s current 18 trillion cubic feet equivalent of 3P reserves.

As company looks to improve liquids weighting, Bill Barrett CEO steps down

Jan 8, 2013

After the markets closed Monday, Bill Barrett chairman and CEO Fred Barrett stepped down from his positions with the North American oil and natural gas exploration and production company.

Antero to sell Piceance Basin assets to redeploy capital to Marcellus, Utica projects

Nov 5, 2012

Denver, CO-based Antero Resources has entered into an agreement to sell all of its natural gas and pipeline assets in the Piceance Basin to a private company for $325 million in cash plus the assumption of all of Antero’s Rocky Mountain firm transportation obligations.

Bill Barrett to sell $335M in natural gas assets

Nov 1, 2012

Bill Barrett Corp.has signed a purchase and sale agreement with an affiliate of Vanguard Natural Resources LLC for the sale of certain of the company's non-core natural gas assets including all Wind River Basin natural gas producing properties, the Powder River Basin coal bed methane (CBM) assets and a working interest in its Gibson Gulch-Piceance Basin development property.

Summit Midstream to acquire midstream assets in Piceance, Uinta Basins

Sep 14, 2012

Dallas, TX-based Summit Midstream Partners LLC has entered into an agreement with La Grange Acquisition LP, a wholly owned subsidiary of Energy Transfer Partners LP, to acquire ETC Canyon Pipeline LLC for $207 million.

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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