Running counter to recent public and private sector analyses, mediocre results so far and complex geology have combined to cause an Alliance Bernstein (AB) analyst to question whether the Monterey Shale will live up to some of the hype surrounding its future prospects. Even with these reservations, high oil prices could push the play closer to its potential, the report conceded.
Cause
Articles from Cause
Dozens of Piceance Wells Threatened by Colorado Wildfire
As the Pine Ridge fire in Colorado expanded Friday, up to 50 natural gas wells were shut in by three operators along the Western Slope in the Piceance Basin. In one case, wells were shut before operators were asked to do so by the federal Bureau of Land Management (BLM), according to the Colorado Oil and Gas Association (COGA).
July 2, 2012
BP Investigating Compressor Station Blast
BP plc said Tuesday it was investigating the cause of an explosion Monday morning at its Pinon natural gas compressor station in western Colorado. One worker was killed and two others were injured.
June 27, 2012
Wyoming Regulators Blame Mechanical Failure in Well Blowout
Wyoming regulators said Thursday a mechanical failure was the root cause of a natural gas well blowout late in April at a Chesapeake Energy Corp. drilling site, but operating errors also were contributing factors. The incident, in which no one was injured, lasted about three days (see Daily GPI, April 30).
May 14, 2012
New York Landowners Group Presents ‘Declaration of Rights’
A coalition of New York landowners who support natural gas development came to the state capital on Wednesday to meet elected officials backing their cause and to deliver them a six-point landowners’ “declaration of rights.”
May 14, 2012
Wyoming Well Blowout Blamed on Mechanical Failure
Wyoming state investigators said Thursday a mechanical failure in the well was the main cause of a natural gas well blowout late in April at a Chesapeake Energy Corp. drilling site. However, operating errors also contributed. The incident lasted about three days; no one was injured (see Shale Daily, April 30).
May 14, 2012
Chesapeake Unit Working to Control Wyoming Gas Well
The cause of an apparent “well control incident” at a Chesapeake Energy Corp. natural gas drilling site in Wyoming was under investigation Wednesday, and the producer was preparing resources and equipment to get it under control. No injuries were reported.
April 26, 2012
Judge: ‘Below-Ground’ Equipment Exempt from Texas Tax
A district court judge in Texas has ruled that oil and natural gas production equipment used “below ground” is exempt from state sales taxes on extraction equipment.
April 23, 2012
Barring Appeal, Tax Exemption Ruling Could Cost Texas $4.4B
Texas could lose an estimated $4.4 billion in revenue from oil and gas sales taxes, depending on how a district court judge tailors his ruling on exempting oil and gas companies from paying the state sales taxes on extraction equipment.
April 18, 2012
Colorado Water Fracking Sensitivity Spills Over in Auction
Although some farming and environmental representatives have raised red flags, water used by the oil/gas industry in hydraulic fracturing (fracking) is not going to cause shortages for the agriculture and local municipalities in the state, a state water district official told NGI’s Shale Daily Monday.
April 10, 2012
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