Warren Resources Inc., which said in September that it would close its offices in New York City and Roswell, NM, to cut costs amid the commodities downturn, said three of its top executives would leave the company as a result of those closures (see Shale Daily,Oct. 1). General CounselSaema Somalya, Vice President of Corporate DevelopmentJeffrey Keeler and Chief Accounting Officer Brian Gelman have chosen to leave the company as it shifts its headquarters from New York City to Denver. The New Mexico office, the company said, was closed Dec. 1, and the New York closure is on track for March 2016. Warren has appointed John R. Powers, formerly of Dune Energy Inc., to serve as its vice president of accounting. The company also recently hired James Watt as its CEO and Frank T. Smith Jr. as its CFO, both of whom had previously worked for Dune. Powers’ appointment completes the company’s finance management team (see Shale Daily,Nov. 30).
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Unconventional Gas Lifts BC Reserves to Historic Numbers
Tight natural gas and shale gas boosted British Columbia’s (BC) reserves numbers to record levels from 2009 to 2010, and more gains are expected as development continues, according to the province’s energy regulator.
Survey: Shale Development Gaining Popularity
Tapping shale natural gas reserves — even when accounting for the challenges of hydraulic fracturing — is worth the risk, a majority of those polled told a recent survey. And eight out of 10 respondents said they link natural gas development with job creation and economic revival.
Survey: Shale Familiarity Breeds Acceptance
Tapping shale natural gas reserves — even when accounting for the challenges of hydraulic fracturing — is worth the risk, a majority of those polled told a recent survey. And eight out of 10 respondents said they link natural gas development with job creation and economic revival.
EIA: Processing Plants Responding to Shale Boom
As natural gas produced from shale plays gains a larger slice of the gas market pie and production from the Gulf of Mexico continues to diminish, gas processing infrastructure is increasingly being added in non-Gulf Coast areas, according to the Energy Information Administration (EIA).
EIA Report Pegs Recoverable Shale Resources at 750 Tcf
A report commissioned by the Energy Information Administration (EIA) estimates that technically recoverable shale natural gas resources in the United States are as much as 750 Tcf.
CenterPoint Sees Growth in Shale Reserves
CenterPoint Energy Inc. said Thursday its natural gas gathering volumes rose significantly during the first quarter, with shale gas accounting for most of the total as traditional basins fell. The company also continued to make progress on gathering systems in the Haynesville Shale.
Onshore Independents Seen Fueling U.S. Economy
Onshore independent natural gas and oil producers supported almost 400,000 direct workers and generated $263 billion in gross economic output in 2010, the Independent Petroleum Association of America (IPAA) said Monday.
Chesapeake to Shed Fayetteville, Other Assets
Chesapeake Energy Corp. said Monday it plans to sell all of its Fayetteville Shale assets, as well as its equity investments in Frac Tech Holdings LLC and privately held Chaparral Energy Inc. Pre-tax proceeds could exceed $5 billion, the Oklahoma City-based company said.
Shale Players Dominated 2009 Reserves List
There were more than 14,000 oil and gas field operators in the United States last year, but the largest 100 of them as determined by total operated reserves accounted for nearly 90% of proved oil and gas reserves and included shale giant Chesapeake Energy Corp. and other companies active in the nation’s shale plays, according to a U.S. Energy Information Administration (EIA) report.
