Although many of its nations have so far spurned their own shale development, European chemical and energy service companies are benefiting from the U.S. shale gas development and the resulting low natural gas prices on this side of the Pond, according to an American Chemistry Council (ACC) economist.
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CF Industries Holdings Inc., an agricultural fertilizer manufacturer and distributor, reported record third quarter earnings on Tuesday and said low natural gas costs were part of a favorable outlook for 2013.
Statoil plans to boost its North American production from less than 100,000 boe/d in 2011 to more than 500,000 boe/d in 2020. In the Bakken and Three Forks shale plays of North Dakota, the company said it will get its oil to market through greatly expanded use of rail transport beginning in September.
Chesapeake Energy Corp., which has spent the last decade creating one of the largest natural gas drilling machines in the United States, quickly is becoming an onshore liquids dynamo, CEO Aubrey McClendon told financial analysts Tuesday.
While oil production in North Dakota could more than quadruple by 2025 to more than 2 million b/d, natural gas could do even better, gaining by nearly six times over current production to 3.1 Bcf/d, according to an analysis commissioned by the state’s Pipeline Authority and performed by Bentek Energy LLC.
North Dakota’s Bakken Shale-driven oil and gas production continued to rise in May from April, according to the state’s Department of Mineral Resources. Preliminary results indicated growth in nearly all of 17 counties — particularly Dunn, McKenzie, Mountrail and Williams, where most of the drilling to date has occurred.
A legislative panel in Ohio has cleared four rules proposed by the Ohio Department of Natural Resources (ODNR), which include new requirements for the permitting and construction of oil and natural gas wells and rules governing hydraulic fracturing (fracking).
During the first quarter Pioneer Natural Resources Co. grew production by 10,000 boe/d to 147,000 boe/d, a 7% increase from the year-ago period, thanks to growth in its three core liquids-rich assets in Texas: the Spraberry field, the Eagle Ford Shale and the Barnett Shale Combo play.
A man who worked briefly for a company that built a natural gas pipeline in Lycoming County, PA, for Chief Oil and Gas LLC has pleaded guilty to damaging the pipeline after the construction company fired him, according to the U.S. Attorney’s Office for the Middle District of Pennsylvania.