From the category archives:
Range Resources tested reduced cluster spacing on two wells in a producing unit in the Marcellus Shale. The results are intriguing to say the least. Production came online at roughly double rates of wells that didn’t receive the treatment. The Marcellus has already proven to be resilient to low natural gas prices and an uplift [...]
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Chesapeake and StatoilHydro’s landowner court case in New York is now going to both federal court and arbitration. The case is over whether or not a state moratorium on hydraulic fracturing is sufficient to declare “force majeure”. Chesapeake acquired leases covering thousands of acres in New York at low prices. Many leases signed before the [...]
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Shell finally announced the location of its highly anticipated cracker plant in the Appalachian region. Shell was courted by Ohio, Pennsylvania, and West Virginia, but eventually decided on locating the plant in Monaca, Pennsylvania. All three states were lobbying for the location of the multi-billion dollar facility because it will be the first plant of [...]
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Natural Gas prices hit 10-year prompt month lows of $2.30/mmbtu this week and there doesn’t look to be anything coming in the next several months that should change the current outlook. Oil & gas companies with significant exposure to natural gas prices have been lowering capital budgets for 2012 and shifting dollars from dry-gas targets [...]
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We can debate whether it should be called Fracking or Frac’ing for decades to come, but a new UT Study concludes that hydraulic fracturing does not in itself cause drinking water contamination. The University of Texas Energy Institute study was not funded by industry dollars. The study noted that contamination is usually related to above [...]
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Apache announced it is acquiring Cordillera Energy Partners III (the third built and sold Cordillera success story) for $2.85 billion. The acreage position covers 254,000 net acres in the panhandles of North Texas and Western Oklahoma. When backing out production, the deal equates to an acreage price between $7,000-9,000/acre. Cordillera has 18,000 boe/d of net [...]
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We don’t accept Bank Sight Drafts. I can’t say I never have, but I don’t make it a practice. If your land is highly prospective, you can bet they’ll do their research first and will have money in hand. When you sign a bank draft you are allowing a company that might or might not operate [...]
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Devon Energy and Sinopec (China) have inked a joint-venture (JV) deal worth $2.2 billion for a 1/3 interest in Devon’s acreage across five new venture plays. Devon is selling an interest in 1.2 million net acres for a little more than $5,000 per acre across several emerging plays: Tuscaloosa Marine Shale Niobrara Shale Mississippian Ohio’s [...]
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Thursday, May 17th, 2012
