Technological

Noting that the company has “a rich history” in technological research and development in the recovery of conventional resources, ConocoPhillips is dedicating $150 million in 2008 to the development of nonconventional oil and gas resources and the development of new energy sources, such as renewables, said CEO Jim Mulva.

Noting that the company has “a rich history” in technological research and development in the recovery of conventional resources, ConocoPhillips is dedicating $150 million in 2008 to the development of nonconventional oil and gas resources and the development of new energy sources, such as renewables, said CEO Jim Mulva.

With production from conventional gas fields declining across North America, gas shales are poised to increase their contribution to the nation’s gas supply. There are approximately 40,000 producing wells and fewer than two-dozen significant gas shale plays in the United States today, but the one that could potentially provide the biggest payoff –the Conasauga play — is still a largely unknown quantity.

With more technological advances to unlock emerging natural gas plays in the U.S. onshore, gas reserve additions continued to surpass oil reserve growth last year, with the top 50 U.S. producers increasing total gas reserves by 11.8% to 127.8 Tcf, according to a survey by energy analyst John S. Herold.

Technological advances are critical to increase the deep-gas component of the domestic gas supply mix, and the Department of Energy (DOE) is touting four new technologies being developed by Honeywell as part of DOE’s Deep Trek research program. The new electronic drilling components are designed to enable effective finding and production of gas lying three to five miles below the earth’s surface.

Houston-based EnerSea Transport LLC, a player claiming a technological advantage in the budding compressed natural gas (CNG) oceanic transportation and storage business, announced Tuesday it was forming a strategic partnership with Tanker Pacific in the development of what EnerSea envisions as a portfolio of niche natural gas transportation and storage projects that can both complement and compete with liquefied natural gas (LNG).

North American natural gas drilling is up 30% from the beginning of the year and is on course to reach its 2001 peak by the fourth quarter, Merrill Lynch said in a new report on the oilfield service sector. Canadian drilling activity, which often is a good indicator of upstream spending going forward, is heading for a near record level this year.

North American natural gas drilling is up 30% from the beginning of the year and is on course to reach its 2001 peak by the fourth quarter, Merrill Lynch said in a new report on the oilfield service sector. Canadian drilling activity, which often is a good indicator of upstream spending going forward, is heading for a near record level this year.