Chief Financial Officer, Simon Henry confirmed that the company is in “no hurry” to develop assets held in the Permian Basin. read more ..
The issue of shale extraction has entered the agenda of New York’s gubernatorial campaign. read more ..
London Local Energy has applied for licenses to begin fracking in three separate areas of London.
30 manufacturing companies today urged British politicians across parties and at “all levels” of government to support industrial growth by backing Lancashire shale extraction proposals.
Growth in the US shale market has led to plans for the Hovensa refinery on St Croix of the US Virgin Islands to be reopened.
Progress is being made towards opening the Karoo region of South Africa for initial explorations for shale gas reserves.
The US Energy Information Administration (EIA) has released figures suggesting a strong link between shale energy production and an increase in gross domestic product per capita across the United States.
Rising shale production, particularly in the US is significantly affecting global crude oil prices and has the potential to cause further price reductions as energy supplies of shale production outstrip the demand.
Harold G. Hamm, Continental's Chairman and Chief Executive Officer said: "We are excited to establish this joint venture with such an established and highly regarded major international energy company. We are proud SK has chosen to join with Continental in SK's initial investment in US shale natural gas."
Ambient Water has announced plans to target the water-intensive oil and gas sector for implementation of large systems including the 'Ambient Water 400' and 'Ambient Water 20K'.
Chief executive Andrew Mackenzie said in a statement: "As we look to improve the balance of liquids and gas across our petroleum portfolio we have initiated the marketing our Fayetteville acreage. However, we will only divest the field if it maximises value for shareholders."
The government has announced the start of a consultation on draft regulations to implement 100% local retention of business rates on shale oil and gas sites.
The Senate Environment and Public Works Committee Republicans released a report, which claims to "uncover the truth behind the science and economic benefits of hydraulic fracturing and exposes the depths of the Obama administration's war on oil and natural gas development."
“Since 2009, Public Service Electric and Gas's residential customers have benefitted from steady reductions in the cost of natural gas,” said a spokesperson. “We’re able to provide additional savings this winter given the continued availability of low-cost gas from the nearby Marcellus Shale Formation in Pennsylvania."
The rise of US oil production, as a result of shale plays, has moderated global oil prices and saved markets from price increases linked to Middle Eastern supply disruptions, according to a Fitch Ratings presentation.
Despite a federal ban on the use of diesel fuel in hydraulic fracturing without a permit, several oil and gas companies are exploiting a Safe Drinking Water Act loophole pushed through by Halliburton to frack with petroleum-based products containing even more dangerous toxic chemicals than diesel.
"Over the last seven years, the US has added 3 million barrels per day of tight oil and 27.5 billion cubic feet per day of shale gas to the global energy mix, a spectacular 42% increase in US oil and gas production, " explained James Brick, Senior Analyst