Magnum Hunter Resources has announced it is to sell 5,210 acres of undeveloped Utica shale in a deal with a local rival competitor, worth $41 million. read more ..
The results from the region's first evaluation of shale resources show an estimated 145 billion barrels of oil in the Canol shale; whilst the Bluefish shale contains approximately 46 billion barrels. read more ..
"Should West Texas Intermediate prices remain near $60 a barrel, US producers will ramp up activity, given improved returns, with costs down by at least 20%," Goldman Sachs analysts said.
“The shale gas supply is too thin for us to find it relevant to investigate the area further. It has absolutely nothing to do with politics,” a Total spokesperson said.
Matthew Idiens, group chief executive, commented: "Following extensive analysis of these extremely encouraging core results we are feeling ever more confident of the prospectivity of the Mancos Shale."
Japan’s biggest gas utility, Tokyo Gas, is seeking to further invest in US shale gas production, to act as a hedge to liquefied natural gas imports from the US, according to a company executive.
Wake County Superior Court has “effectively reinstated” a state moratorium on fracking, after a law suit argued that fracking legislation was invalid due to a conflict of interest in regulatory appointments.
Pennsylvania's state governor, Tom Wolf, has urged railroad operators to adopt new voluntary health and safety initiatives, following a spate of derailments.
A sample of 1,567 UK adults were surveyed in a poll conducted by YouGov, which showed that public support for fracking has continued to ebb since the highs of 44% approval in December 2013.
The Tanzania Petroleum Development Corporation has indicated that there is a ‘very high’ possibility of discovering sizeable shale gas reserves in the Tanga region of the country.
Jorge Sapag, governor of the oil rich Neuquén region, explained, “I don’t think that prices will impact companies investing in Argentina, of course prices are important, but costs are much more important.”
Utah’s state governor has announced that the state will join Wyoming, North Dakota and Colorado in challenging new federal rules governing fracking, arguing that they duplicate existing state regulations.
The governor Greg Abbott signed the bill into law which stops cities and towns from banning fracking, after it was approved by both the House of Representatives and the Senate in the past few weeks.
An extra 141 billion barrels of oil could be unlocked if techniques currently used in shale plays are implemented in global low-producing conventional oil fields, according to research by IHS.
JKX said that whilst it was pleased to be given greater areas for its production activities, it intends to defer drilling activities until market conditions recover and government policy changes sufficiently.
Chris Faulkner, the chief executive of Breitling Energy, described the proposed alternative to OPEC as “not a cartel”, but instead a “coalition” of resources and technology between the US, Mexico and Canada.
Under the draft agreement, Questerre will conduct studies at two potential sites in the south of the country; the Jafr region holds an approximated two billion barrels of shale oil.