Denbury Resources Inc. said Monday that it has completed the first phase of its sale of 196,000 net acres in the Bakken Shale to ExxonMobil Corp. for $1.6 billion in cash and ExxonMobil’s operating interests in Webster Field in Texas, Hartzog Draw Field in Wyoming and an interest in the Carbon Dioxide (CO2) reserves in ExxonMobil’s LaBarge Field in Wyoming.
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An environmental group focused on recreation says industrial-scale development of oil shale is harmful to rivers and could require billions gallons of water annually, significantly more than what is needed for hydraulic fracturing (fracking) for shale oil.
An environmental group focused on recreation says industrial-scale development of oil shale is harmful to rivers and could require billions gallons of water annually, significantly more than what would be needed for hydraulic fracturing (fracking).
The Muskingum Watershed Conservancy District (MWCD) says it will consider short-term water sales from two lakes in eastern Ohio to oil and natural gas operators drilling in the Marcellus and Utica shales.
Although it recently dropped out of a Western Canada gas-to-liquids (GTL) project with Sasol Canada (see Shale Daily, June 29), Talisman Energy Inc. still foresees monetizing its Montney Shale reserves through “some form of conversion process,” CEO John Manzoni told financial analysts during an earnings conference call. Manzoni said the Montney resource is “big enough, it’s strategic enough, it’s material enough to be in some form of conversion process, which naturally now is more likely to be LNG [liquefied natural gas] then GTL, if that’s the case.” Multiple projects have been proposed to liquefy western Canadian gas and ship it to overseas markets (see Shale Daily, July 31). Manzoni alluded to the LNG projects and said, “…in the context of all of that, we are considering all options and continue to do so…for our Montney resource, how best to create the maximum value for Talisman at the right time for our Montney resource, which is very big and very strategic.”
“The truth is that Gasland is mostly hot air,” the narrator of Truthland says in the trailer for the new film.
Commissioner Scott O’Malia of the Commodity Futures Trading Commission (CFTC), a frequent critic of the agency’s Dodd-Frank actions, says many of the rules approved by the agency so far are “unnecessarily complicated, confusing and, in some cases, redundant.”
Cheap natural gas might be weighing on producers but it’s been a boon for consumers and economic development, according to a study by the American Gas Association (AGA) that says consumers have saved $250 billion over the last three years.