Piceance/Uinta Tight Gas
The 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
Wapiti pays $130M for certain unconventional resource assets from Delta Petroleum
Aug 4, 2010
Wapiti Oil & Gas LLC has purchased of $130 million in oil and gas exploration and development assets from Delta Petroleum Corp. |
Delta Petroleum to sell non-core assets for $130M
Jul 26, 2010
Delta Petroleum Corp. (Nasdaq: DPTR) has entered into a purchase and sale agreement with Wapiti Oil & Gas LLC to sell various non-core assets for $130 million. |
Delta promotes Lakey to CEO; terminates Piceance talks with Opon
Jul 9, 2010
Delta Petroleum Corp. has promoted Carl Lakey to CEO and, at the same time, terminated discussions to sell a working interest in its Vega area assets in the Piceance Basin to Opon International LLC. |
Jaggers resigns from Bill Barrett to lead recapitalized Ute Energy
Jul 1, 2010
Joe Jaggers, COO and president of Denver-based Bill Barrett Corp. (NYSE: BBG) has resigned to become the president and CEO of Ute Energy LLC, a recently recapitalized oil and gas company. |
IDT, AMSO call attention to turn-around, Piceance prospects
Jun 28, 2010
Representatives from IDT Corp. (NYSE: IDT, IDT.C) and its joint venture subsidiary, American Shale Oil LLC (AMSO), rang the opening bell at the New York Stock Exchange on Monday, June 28 to bring attention to the company’s turn-around and growth prospects in the Piceance Basin. |
Stock prices rise as Delta details sale of Piceance assets to Opon
Mar 19, 2010
Stock prices of Delta Petroleum Corp. jumped upon news of the company’s intent to sell a non-operated working interest in its Vega Area assets in the Piceance Basin to Opon International LLC for $400 million. |
Dejour secures mezzanine financing for project expansion
Feb 24, 2010
Crude oil and natural gas company Dejour Enterprises Ltd. has signed a binding commitment letter securing a $5 million line of credit from an Alberta-based mezzanine lender. |
Rise Energy to bid $18.7M on newly-bankrupt Teton Energy
Nov 9, 2009
Denver-based Teton Energy Corp. has filed for Chapter 11 bankruptcy protection and filed a proposed reorganization plan that would allow Rise Energy Partners II LLC to purchase its assets for $18.7 million. |
Dejour completes second tranche of flow through financing
Oct 22, 2009
Vancouver, Canada-based Dejour Enterprises Ltd. has closed the second tranche of its $2,000,000 non-brokered private placement. |
Williams signs $259M deal with private company for Piceance properties
Aug 10, 2009
Williams has agreed to purchase additional properties in the Piceance Valley east of the company's existing assets from a private company for roughly $258 million. |
OGFJ100P company update
Jul 1, 2009
IHS Herold Inc., the independent research firm, has provided OGFJ with updated production data for our periodic ranking of US-based private E&P companies. The rankings provided are based on operated production only within the US. In this installment, the data provided is year-to-date 2008 production data.
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Occidental acquires certain PXP assets for $1.25B
Apr 14, 2009
Occidental Petroleum Corp. has signed a definitive purchase and sale agreement with Plains Exploration & Production Co. to purchase all of PXP's interests in the Permian Basin of West Texas and New Mexico and Piceance Basin of Colorado for $1.25 billion. |
Occidental adds West Texas, Piceance acreage, set to develop Abu Dhabi oil, gas fields
Nov 1, 2008
Occidental Petroleum Corp. has signed a number of deals recently.
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Occidental acquires certain PXP assets for $1.25B
Oct 1, 2008
Occidental Petroleum Corp. has signed a definitive purchase and sale agreement with Plains Exploration & Production Co. to purchase all of PXP's interests in the Permian Basin of West Texas and New Mexico and Piceance Basin of Colorado for $1.25 billion. Current production (net to Occidental) from the properties is roughly 4,300 barrels of liquids and 52 MMcfd; for a total of 13,000 boe/d. |
Patriot purchases acreage in Big Horn basin from Anadarko; enters agreement with Bill Barrett
Nov 1, 2006
Patriot Exploration Co. Inc. has purchased 18,000 acres from Anadarko Petroleum Corp. in the central Big Horn basin in Wyoming.
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The “natural gas revolution” is changing global energy dynamics, including the outlook for energy security in the United States and elsewhere. In his keynote speech to the annual 31st annual CERAWeek Executive Conference in Houston, Peter Voser, CEO of Royal Dutch Shell plc, outlines what the industry and policymakers must do to ensure society fully leverages the many benefits of natural gas. He calls for well-targeted and robustly enforced regulations to ensure tight and shale gas production meets the highest standards. He also urges the industry to do a better job of listening and responding to public concerns about the environmental and operational challenges associated with gas production.
Read the full speech by Peter Voser here.
The total value of US oil and gas mergers and acquisitions increased significantly in 2011 due to continued investment in US shale plays and related infrastructure, sustained interest from foreign buyers, and private equity entrants deploying capital in the energy industry, according to an analysis of energy M&A data by PwC US. A major trend in the energy sector driving the increase in deal value throughout the year was a shift towards more investments in oil and liquid plays as natural gas prices remained depressed amid hitting a 10-year low in 2011.
Read more here.
Can the shale gas r
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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