Reserves

The untold Rocky Mountains oil and natural gas reserves continue to beckon exploration and production (E&P) companies and a growing group of private entities, but a big question remains: where among these 9.2 million acres is the next Bakken shale, Jonah-Pinedale, Big George coals or Covenant field?

The vast Rocky Mountains oil and natural gas reserves continue to beckon exploration and production (E&P) companies and a growing group of private entities, but Wood Mackenzie energy analysts said a big question remains: where among these 9.2 million acres is the next Bakken shale, Jonah-Pinedale, Big George coals or Covenant field?

ExxonMobil Corp. expects to ramp up more than 20 new global oil and natural gas projects in the next three years that at their peak will add 1 MMboe/d to the producer’s base volumes. Scheduled U.S. start-ups between 2008 and 2009 are the Piceance Tight Gas Phase 1 project in the Rocky Mountains, the deepwater Thunder Horse platform in the Gulf of Mexico and the Golden Pass LNG [liquefied natural gas] import terminal near Sabine Pass, TX.

A substantial amount of unconventional natural gas reserves await discovery in North America, both in existing basins and new areas, and likely will account for 42% of U.S. gas supply by 2010, according to a report by UK-based energy consulting firm Wood Mackenzie. Unconventional gas, which includes coalbed methane, tight gas sands and shale gas, accounted for 27% of U.S. supply in 2005.

A substantial amount of unconventional natural gas reserves await discovery in North America, both in existing basins and new areas, and likely will account for 42% of U.S. gas supply by 2010, according to a report by UK-based energy consulting firm Wood Mackenzie. Unconventional gas, which includes coalbed methane, tight gas sands and shale gas, accounted for 27% of U.S. supply in 2005.

A half-decade of litigation over reserves revisions, allegations of wash trading and charges of market manipulation against El Paso Corp. drew closer to closure Tuesday when a federal judge in Houston gave preliminary approval to a proposed settlement and set a final hearing date in the class action suit against the company.

A half-decade of litigation over reserves revisions, allegations of wash trading and charges of market manipulation against El Paso Corp. drew closer to closure Tuesday when a federal judge in Houston gave preliminary approval to a proposed settlement and set a final hearing date in the class action suit against the company.

Plenty of political wrangling remains before an agreement is struck to commercialize Alaska’s North Slope gas reserves with transport to the Lower 48 (see NGI, Sept. 11). However, getting Alaska gas to Canada and then the United States is something TransCanada Corp. has been thinking about for a long time. And the company has some definite ideas about what it would like its role to be in the effort.

Plenty of political wrangling remains before an agreement is struck to commercialize Alaska’s North Slope gas reserves with transport to the Lower 48 (see Daily GPI, Sept. 8). However, getting Alaska gas to Canada and then the United States is something TransCanada Corp. has been thinking about for a long time. And the company has some definite ideas about what it would like its role to be in the effort.