Although keeping a lid on the details of the deal for now, Rex Energy Corp. said the Utica Shale joint venture it recently entered into with MFC Drilling Inc. and Abarta Oil & Gas Co. Inc. requires it to drill and complete one well and begin drilling two others by Nov. 15, and requires three additional wells each year until the company satisfies the carry obligation. The JV covers a three county region of eastern Ohio.
Articles from Find
What would you call a lot of natural gas, ready at a moment’s notice? Some might call it a storage facility. Others might call it the Marcellus Shale.
Some of the growing gas supply coming out of the Marcellus Shale could find a home in gas-fired power plants in Georgia, Alabama and Tennessee thanks to a proposal from Spectra Energy Corp. to move gas from the booming shale play to markets southward.
As several natural gas advocacy organizations urge the federal government to extend proposed economic incentives for electric vehicles (EV) to natural gas vehicles (NGV) and other alternative fuel transportation, one gas supporter believes the incentive disparity exists because the shale gas revolution came three years too late.
There’s enough water in the Carrizo Wilcox Aquifer in South Texas to support Eagle Ford Shale oil and gas drilling and hydraulic fracturing as well as other uses, such as irrigation, according to the Eagle Ford Task Force. This is in spite of a drought that has gripped most of Texas, according to experts.
A new company has leased about 1,500 acres in the Kanawha Valley of West Virginia and hopes to find investors to raise $2 billion to develop an ethane cracker and other downstream facilities.
Other than parts of the South, desert Southwest and California, it was rare to find any forecasts for Thursday lows that didn’t range from around freezing to a few degrees below zero. But that was able to keep only a little more than half of the cash market from seeing losses Wednesday. One source suggested that increasing use of storage in lieu of spot gas purchases may have been limiting the price-boosting impact of the cold weather.
In mid-October North Dakota likely exceeded last year’s record-setting oil and gas production, according to state and industry officials who were quoted in a pre-Thanksgiving report out of Bismarck, ND, by the Associated Press. Separately, other local news reports Sunday depicted state officials as worried about proposed federal rules for hydraulic fracturing (fracking), but they told NGI’s Shale Daily the reports were exaggerated.