Explorers

Independent explorers now drill close to 94% of U.S. oil and natural gas wells, a level of drilling that is forecast to remain steady over the coming decade, according to a study commissioned by the Independent Petroleum Association of America (IPAA).

Independent explorers now drill close to 94% of U.S. oil and natural gas wells, a level of drilling that is forecast to remain steady over the coming decade, according to a study commissioned by the Independent Petroleum Association of America (IPAA).

“Shaley” natural gas producers and Bakken oil explorers should be reporting “lots” of reserves additions as they roll out their year-end 2010 reports, the research team at Tudor, Pickering, Holt & Co. (TPH) said Friday.

Chevron Corp., which had eschewed domestic shale plays in favor of the deepwater, on Tuesday reversed course, agreeing to pay a total of $4.3 billion to acquire Atlas Energy Inc.’s million-acre-plus U.S. shale leasehold.

The move by U.S. explorers to oil plays, and by implication, the oilfield services business, will buoy Schlumberger Ltd. into 2011, but higher natural gas demand will be required to keep up the pace in North American natural gas drilling “beyond a certain point in time,” CEO Andrew Gould said Friday.

The move by U.S. explorers to oil plays, and by implication, the oilfield services business, will buoy Schlumberger Ltd. into 2011, but higher natural gas demand is required to keep up the pace in North American natural gas drilling “beyond a certain point in time,” CEO Andrew Gould said Friday.

Natural gas explorers that hope to tap into Quebec’s emerging Utica Shale and St. Lawrence River lowlands face more scrutiny going forward, Environment Minister Pierre Arcand said last week.

Natural gas explorers that hope to tap into Quebec’s emerging Utica Shale and St. Lawrence River lowlands face more scrutiny going forward, Environment Minister Pierre Arcand said Monday.

An auction of natural gas and oil leases on Michigan-owned parcels last Tuesday, with explorers mostly focused on portions of the Utica and Collingwood shales on the Lower Peninsula, netted the state $178 million in bonus payments, which exceeded projections and broke the record for previous auctions.