Conventional

Chesapeake Energy Corp. is contemplating how to structure a possible partnership for its South Texas conventional natural gas leasehold, the company’s CFO said Friday. Instead of selling an outright stake in the assets, as has been Chesapeake’s recent modus operandi, it instead may use a volumetric production payment (VPP) transaction, which would give the buyer some oil and natural gas output in exchange for cash.

Democratic presidential candidate Sen. Barack Obama (D-IL) will be looking for a comprehensive, bipartisan approach on energy measures, encompassing development and drilling for conventional resources as well as energy efficiency, renewables and mitigating energy costs, a senior energy adviser told the Natural Gas Roundtable in Washington, DC, last Thursday.

Democratic presidential candidate Sen. Barack Obama (D-IL) will be looking for a comprehensive, bipartisan approach on energy measures, encompassing development and drilling for conventional resources as well as energy efficiency, renewables and mitigating energy costs, a campaign energy adviser told the Natural Gas Roundtable in Washington Thursday.

Petrohawk Energy Corp. will reduce its 2009 capital budget by 33% and is considering the divestiture of certain conventional assets in the Permian Basin region next year, the company said last Wednesday.

Petrohawk Energy Corp. will reduce its 2009 capital budget by 33% and is considering the divestiture of certain conventional assets in the Permian Basin region next year, the company said Wednesday.

Noting that the company has “a rich history” in technological research and development in the recovery of conventional resources, ConocoPhillips is dedicating $150 million in 2008 to the development of nonconventional oil and gas resources and the development of new energy sources, such as renewables, said CEO Jim Mulva.

Noting that the company has “a rich history” in technological research and development in the recovery of conventional resources, ConocoPhillips is dedicating $150 million in 2008 to the development of nonconventional oil and gas resources and the development of new energy sources, such as renewables, said CEO Jim Mulva.

With production from conventional gas fields declining across North America, gas shales are poised to increase their contribution to the nation’s gas supply. There are approximately 40,000 producing wells and fewer than two-dozen significant gas shale plays in the United States today, but the one that could potentially provide the biggest payoff –the Conasauga play — is still a largely unknown quantity.

With production from conventional gas fields declining across North America, gas shales are poised to increase their contribution to the nation’s gas supply. There are approximately 40,000 producing wells and fewer than two-dozen significant gas shale plays in the United States today, but the one that could potentially provide the biggest payoff –the Conasauga play — is still a largely unknown quantity.