Plays

The rapidly emerging shale gas plays across North America come at a higher cost than conventional resources, but this burgeoning supply could hold the line against the even higher prices of imported liquefied natural gas (LNG), a ConocoPhillips executive told the GasMart 2008 audience last week.

The rapidly emerging shale gas plays across North America come at a higher cost than conventional resources, but this burgeoning supply could hold the line against the even higher prices of imported liquefied natural gas (LNG), a ConocoPhillips executive told the GasMart 2008 audience last week.

Strengthened by a series of onshore purchases in key North American natural gas plays, XTO Energy Inc. Wednesday reported record quarterly production, with gas output up 35% from the same period a year ago. Oil and gas output this year now is forecast to jump 23%, and the CEO hinted that more acquisitions may be in the offing.

The commercial success of natural gas shale plays in the United States has producers large and small eyeing the potential of gas shale that covers the northeastern corner of British Columbia, which is estimated to hold 250-1,000 Tcf of gas in place.

The commercial success of natural gas shale plays in the United States has producers large and small eyeing the potential of gas shale that covers the northeastern corner of British Columbia, which may hold 250-1,000 Tcf of gas in place.

Quicksilver Resources Inc., which targets North American unconventional natural gas plays, reported Monday that 2007 reserve additions hit a record 608 Bcfe after replacing 780% of its total-year output of 78 Bcfe.

Targeting the expanding Barnett Shale and Bossier Sands plays, Dallas-based Energy Transfer Partners LP (ETP) will expand two of its major Texas intrastate gas pipeline systems, the company said last week.

Targeting the expanding Barnett Shale and Bossier Sands plays, Dallas-based Energy Transfer Partners LP (ETP) will expand two of its major Texas intrastate gas pipeline systems, the company said Tuesday.

It was almost a decade ago when the oil and gas industry saw the beginning of the mega-merger era with BP plc’s acquisition of Amoco (see NGI, Aug. 24, 1998). That deal and the other consolidation plays that followed were triggered by low oil prices as the majors were striving to lower their costs.