The Eagle Ford Shale of South Texas is likely the biggest potential driver of U.S. oil production growth for the next five to 10 years with production on track to pass 1 million b/d by the middle of next year and 1.7 million b/d by the end of 2015, analyst at Raymond James & Associates said in a note Monday.
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North American Unconventionals Shifting Global Energy Trade, Says IEA
The United States will become the top producer of oil globally within five years, a net exporter of natural gas by 2020 and an oil exporter by close to 2030, all thanks to its massive unconventional resources, the International Energy Agency (IEA) said Monday in its annual flagship publication, the World Energy Outlook (WEO).
Alberta’s Shale Natural Gas, Oil Potential Said to Be Colossal
Total volumes embedded in only the five Alberta shale deposits with “immediate potential” for development are colossal: 3,424 Tcf of natural gas, 58.6 billion bbl of gas liquids byproducts, and 423.6 billion bbl of oil, says a report by the resource appraisal group of Alberta’s Energy Resources Conservation Board (ERCB). Even the immense current estimates of the province’s total resource endowment could eventually turn out to be conservative, the board said.
Road Widens for Natural Gas as Transport Fuel
Shell Canada Products last week signed a five-year transactoin with Canada’s Bison Transport to provide liquefied natural gas (LNG) for 15 Bison tractors in Alberta. The agreement was billed as a first step in Shell’s effort to establish a natural gas transportation fueling network in the province.
Shell Canada, Trucking Firm Sign LNG Deal
Shell Canada Products has signed a five-year deal with Canada’s Bison Transport to provide liquefied natural gas (LNG) for 15 Bison tractors in Alberta. The agreement is a first step in Shell’s effort to establish a natural gas transportation fueling network in the province.
Comstock Keeping Haynesville Powder Dry
The dry gas Haynesville Shale will have its day again — when gas prices have a $5 handle — and Comstock Resources Inc. will be ready, management of the Frisco, TX-based producer told financial analysts Tuesday.
North Dakota Production Soars; Oil Prices Climb
North Dakota again set new all-time highs for oil and natural gas production, drilling permits issued and producing wells in August, according to the latest report from state Department of Mineral Resources (DMR) Director Lynn Helms. The average price for sweet crude was up, too.
Another Penn State Drilling Study Unnecessary, Says MSC
The industry-led Marcellus Shale Coalition (MSC) has canceled a study underway by Pennsylvania State University (Penn State) about natural gas drilling and hydraulic fracturing (fracking), following criticism that previous research had a pro-drilling slant.
More Coal-Fired Plants to Walk the Plank, Says Brattle
Between 59,000 and 77,000 megawatts (MW) of U.S. coal-fired power generating capacity will be retired over the next five years, according to economists at The Brattle Group. That’s an increase of 25,000 MW over their December 2010 estimate, in part due to low gas prices. Upcoming coal retirements could bring “modest increases in natural gas prices,” they said.
Dow Exec: Don’t Dull U.S. ‘Competitive Edge’
With shale gas the United States has an abundant natural resource that wasn’t on the industrial or economic development radar screen a mere five years ago. In other words, “a competitive edge is coming back to America,” Dow Chemical Co.’s Brian Ames told a Houston audience last week.