Explored

The hype about the under-explored Monterey Shale in California is worthy of most of the superlatives about unconventional oil and natural gas abundance, two of Wood Mackenzie’s Houston analysts said recently.

Shale plays globally are a very good long-term asset and the continuing hype about the under-explored Monterey Shale in California is worthy of most of the superlatives, according to two analysts at Wood Mackenzie’s Houston office.

The Houston-based arm of energy giant BP plc last week announced that it is leasing thousands of acres in a yet-to-be explored area of northeastern Ohio’s Utica/Point Pleasant Shale formation near the Pennsylvania border for future natural gas and oil production.

The Houston-based arm of energy giant BP plc Tuesday said it was leasing thousands of acres in a yet-to-be explored area of northeastern Ohio’s Utica/Point Pleasant Shale formation near the Pennsylvania border for future natural gas and oil production.

The upstream industry could see its drilling inventory grow if horizontal drilling opportunities being explored by several companies pan out, according to analysts at Raymond James & Associates Inc.

SandRidge Energy Inc., which up to now has explored almost exclusively for natural gas, last week agreed to acquire oil-weighted producer Arena Resources Inc. in a deal worth $1.6 billion.

SandRidge Energy Inc., which up to now has explored almost exclusively for natural gas, on Monday agreed to acquire oil-weighted producer Arena Resources Inc. in a deal worth $1.6 billion.

SandRidge Energy Inc., which up to now has explored almost exclusively for natural gas, on Monday agreed to acquire oil-weighted producer Arena Resources Inc. in a deal worth $1.6 billion.

The shallow waters of the Gulf of Mexico (GOM) up until last week had been considered by many to be thoroughly explored. However, the Davy Jones discovery by an unrelenting team of producers suggests that the story of this basin is “far from over,” energy analysts said.