India’s Reliance Industries Ltd. has made multiple bets on U.S. shale gas and they’re paying off, the company said when it released its fiscal first quarter 2014 results last Friday, which included an 84% hike in U.S. shale-derived revenue from a year ago.
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Spectra Energy’s Texas Eastern Transmission LP is offering capacity on its Gulf Market Expansion Project, which would give Marcellus and Utica Shale gas access to growing Gulf Coast markets in Louisiana and Texas, including for future export of liquefied natural gas (LNG).
With a recently signed joint venture agreement targeting the Wolfcamp Shale in hand, Pioneer Natural Resources Co. this year plans to step up horizontal drilling there. In the Eagle Ford, longer laterals and more white sand proppant instead of ceramic are on the agenda.
Despite weak prices, there is “significant upside optionality” to natural gas, according to a Credit Suisse analyst.
ExxonMobil Corp.’s production in the Bakken Shale has reached about 32,000 boe/d, which is 60% higher than a year ago and double the amount the company was producing just three years ago, a top executive said Thursday. Two more oil-directed rigs have been added to the play in just the past three months.
While saying he is bullish on natural gas — given climate drivers, economic and ultimate global supply optionality for the fuel — a ConocoPhillips market research expert last Tuesday predicted continued vacillations between oversupply and undersupply in the nation’s natural gas markets for the foreseeable future.
Saying he is bullish on natural gas given climate drivers, economic and ultimate global supply optionality for the fuel, a ConocoPhillips market research expert Tuesday predicted continued vacillations between oversupply and undersupply in the nation’s natural gas markets for the foreseeable future.