Rystad Energy is forecasting oil and gas drillers to reach for the moon and beyond in the next five years, at least in terms of drilling depths, with North America’s shale and tight resources propelling it into a “league of its own.”
Articles from Drilled
Cimarex Energy Co.’s first test of the Rogersville Shale appears to be a disappointment, a review of data released on Thursday by the Kentucky Division of Oil and Gas (KDOG) shows.
Demand between now and 2015 will prop up natural gas prices, even with a backlog of drilled wells awaiting connection, and from 2016 to 2018 a “dramatic structural increase” in demand could outpace supply additions and send gas prices to as high as $6.00/MMBtu, BNP Paribas’ Teri Viswanath, director of commodity strategy, said Friday.
Permian Basin-focused Energen Resources Corp., said Wednesday its first well to test the upper Wolfcamp Shale in the Midland Basin and three upper Wolfcamp wells in the Delaware Basin have shown “excellent results.”
Exco Resources Inc. is paying Chesapeake Energy Corp. $1 billion for something wet and something dry: about 55,000 acres in the liquids-rich Eagle Ford Shale of Texas and about 9,600 acres in the drier Haynesville Shale in North Louisiana.
The Kentucky Oil and Gas Association’s (KOGA) first comprehensive research of the economic impact of the oil and gas industry found that the state had 14,632 producing natural gas wells in 2011 and produced more than 3 million bbl of oil in 2012, but the number of horizontal well permits issued has declined each year since 2009.
New Brunswick could see C$13 million in development for every shale gas well drilled in the province, opening up opportunities for the province to prosper, according to an analysis by Deloitte. However, a recent poll found that critics of development are gaining support.
The Pennsylvania Public Utility Commission (PUC) said Thursday that localities affected by oil and gas drilling in 2012 will collectively receive $102.7 million from impact fee revenue generated by Act 13, the state’s omnibus Marcellus Shale law.