Most U.S. land buyers today are foreign companies that want to snap up unconventional prospects, and most are oil-driven. However, with natural gas prices rising, merger and acquisition (M&A) deals are likely this year, especially for operators struggling with costs, according to a PwC energy expert.
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Magnum Hunter Drilling First Utica Target
Magnum Hunter Resources Corp. said Friday it has dropped a drillbit into its first Utica Shale horizontal target in Ohio’s northern Washington County.
Natural Gas Advantage Said Lost on Fugitive Emissions
The natural gas bonanza brought about by unconventional drilling may be displacing coal and diesel as a “cleaner” fuel, but methane leaks from the surge in drilling and processing destroy that advantage, according to the environmental think tank World Resources Institute (WRI).
Natural Gas Advantage Lost on Fugitive Emissions, Says Think Tank
The natural gas bonanza brought about by unconventional drilling may be displacing coal and diesel as a “cleaner” fuel, but methane leaks from the surge in drilling and processing destroy that advantage, according to the environmental think tank World Resources Institute (WRI).
BLM Sells Leases in Unconventional Nevada Play
A total of 29 parcels comprising 35,889 acres in a promising unconventional find in northeastern Nevada were sold to six companies for a total of $1.27 million by the Bureau of Land Management (BLM) during its quarterly oil and gas competitive lease sale held in Reno, NV, the agency said.
USGS: Shale Underlies Some of Susquehanna Valley’s Prime Aquifers
Portions of the Susquehanna River Valley aquifer in an area of New York that overlies the Marcellus and Utica shales are among the most favorable for potential large-scale groundwater supply, according to a U.S. Geological Survey (USGS) study.
New York Debate Enters New Stage as Fracking Rules Deadline Passes
As the state of New York missed Wednesday’s deadline to create regulations for high-volume hydraulic fracturing (HVHF), supporters and opponents of the practice took aim at Gov. Andrew Cuomo, anti-fracking lawmakers sought a one-year moratorium, and a landowners group said it would sue the state over the delay.
North Carolina Senate Passes Bill to Allow Fracking, Consider Offshore
The Domestic Energy Jobs Act (SB 76) was passed by the North Carolina Senate Wednesday, setting the stage for horizontal drilling and hydraulic fracturing (fracking) of oil and natural gas wells to begin in the state two years from now. It also encourages the governor to coordinate with South Carolina and Virginia for offshore drilling.
Canada’s Gas Shales Reportedly More Costly
A small handful of cold, hard numbers tells why Canadian unconventional natural gas is forced to rely on elusive Asian exports of liquefied natural gas (LNG) to thaw out drilling prospects.
Anadarko Onshore Experiments Drop Costs, Lift Output
Anadarko Petroleum Corp. is doing “a lot” of experimentation in the U.S. onshore to determine how best to drill unconventional wells to ensure optimized estimated ultimate recoveries (EUR). What the management knows for sure is that the bigger the hydraulic fractures (fracks) the more a well can recover, said CEO Al Walker.