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

Woodford Shale

Woodford Shale ImageLocated in southeastern Oklahoma, the Woodford shale play has been drilled for about 10 years. Only the Barnett shale in Texas has been producing natural gas longer than the Woodford shale. Devon Energy drilled the first well into the Woodford shale formation in 2005, and since then numerous petroleum companies have acquired acreage and launched their own drilling programs. Current estimates are that the Woodford shale holds approximately 4 tcf of natural gas.

Of the numerous companies drilling in the Woodford shale, Houston-based Newfield Exploration and Oklahoma City-based Devon are the largest producers. Both companies have sold off much of their offshore assets in the Gulf of Mexico and elsewhere in order to focus their attention on unconventional resources such as the Woodford and other shale plays

Woodford Shale Map

Woodford Shale News

EIA: Five states, GOM produce over 80% of US crude oil

Mar 31, 2014

Five states and the Gulf of Mexico supplied more than 80%, or 6 million barrels per day, of the crude oil (including lease condensate) produced in the United States in 2013. Texas alone provided almost 35%, according to preliminary 2013 data released in EIA's March Petroleum Supply Monthly.

AEW raises $680M to acquire shale acreage

Feb 25, 2014

American Energy - Woodford LLC, an affiliate of American Energy Partners LP, has raised $500 million in equity commitments and secured $180 million in bank borrowings to pursue a business plan focused on the Woodford Shale/Mississippi Lime combination play.

BNK Petroleum sells Woodford assets to accelerate Caney formation drilling

Mar 18, 2013

BNK Petroleum Inc. has entered into a Purchase and Sale Agreement with XTO Energy Inc. for the sale by BNK US of its Tishomingo Field, Oklahoma assets other than the Caney and upper Sycamore formations, for US$147.5 million.

M&A Activity impacted by oil and gas price volatility

Jul 1, 2012

PLS Inc. reports that US deal activity slowed in late May and early June as WTI oil prices rapidly descended to the low $80s from the $100+/bbl range in place since mid-February.

Cardinal Midstream brings third plant online in Woodford shale

Apr 3, 2012

Cardinal Midstream, LLC has brought its third cryogenic processing plant online in the Arkoma Woodford shale.

Woodford Shale and Cana-Woodford: High bcfe wells with attractive economics

Jul 1, 2011 The first commercial oil well from the Woodford Shale in Oklahoma was drilled in 1939. Since then, more than four million barrels of oil have been extracted from the formation.

Antero Resources closes Oklahoma Midstream sale to Cardinal

Nov 8, 2010

Antero Resources has closed the sale of its midstream assets, located in the Woodford Shale area, to Cardinal Midstream LLC for $270 million.

Antero Resources to sell Woodford shale midstream assets for $268 million

Oct 1, 2010

Antero Resources has entered into definitive agreements to sell its midstream assets located in the Woodford Shale area of the Arkoma Basin of Oklahoma to affiliates of Cardinal Midstream LLC for $268 million in cash. 

Continental increases Woodford, Bakken drilling with 2010 CAPEX increase

Jul 9, 2010

Continental Resources Inc. has increased its capital expenditure budget to $1.3 billion from $850 million to accelerate its drilling program and to increase its acreage positions in the Bakken and Woodford shale plays.

Newfield to slow the pace of Woodford, Granite Wash development

Jul 9, 2010

Newfield Exploration Co. is reducing its planned gas development wells in the second half of 2010 to emphasize oil plays despite growth of 20% expected in its Granite Wash production this year.

SM Energy completing second Granite Wash well

Jun 17, 2010

SM Energy Co., formerly St. Mary Land and Exploration, recently started its Granite Wash drilling program with two wells.

Devon Energy Woodford shale update

May 30, 2010

When independent oil and gas exploration and production company Devon Energy Corp. presented at the UBS Global Oil and Gas Conference in May, the company briefed analysts and investors on its current 2010 capital expenditure budget that reinforced its position in the oil and gas shale plays.

ONEOK Partners to invest over $400M in Bakken, Woodford growth projects

Apr 22, 2010

Tulsa, OK-based ONEOK Partners LP, one of the largest publicly traded master limited partnerships, plans to invest nearly $405 million to $470 million between now and the end of 2011 for projects in two shale plays, the Bakken Shale in the Williston Basin in North Dakota, and the Woodford Shale in Oklahoma.

Continental Resources prices $200M senior notes offering

Mar 30, 2010

Continental Resources Inc. has priced its private placement of $200 million of 7 3/8% senior unsecured notes due 2020.

North American resource plays a big part of Marathon's 2010 drilling program

Feb 13, 2010

While Marathon Oil Corp.’s $5.1 billion 2010 CAPEX budget is 17% lower than last year, the company plans to advance its resource plays, including those in the Marcellus, Woodford, and Haynesville, and Bakken shales.

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