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BHP to Sell Fayetteville Shale Assets
BHP Billiton, the world’s largest mining enterprise, has announced its intention to sell their position in the Fayetteville Shale in Arkansas, according to a recent article in “Rigzone”. The company purchased these assets from Chesapeake and Petrohawk Energy in 2011 for almost $20 billion. However, when gas prices dropped, BHP had to write down the… Read More
American Energy Increases Presence in Permian Basin
In June, American Energy Partners LP announced its intention to invest $4.25 billion in shale oil and gas assets in the Permian Basin. “Rigzone” reports that they are well on their way to doing just that. Since the end of July the company has acquired 27,000 net acres and 1,400 barrels of oil equivalent per… Read More
Upstream Oil and Gas Major Stimulus for U. S. Economy
“Rigzone” reports that a study by The Perryman Group, a consulting firm, found that the economic impact of upstream oil and gas more than doubled in the last ten years. The industry has grown at a rate of $1.2 trillion per year and contributed approximately 30% of the job growth during the economic recovery. This… Read More
Service Companies Anticipate Sand Shortage
The shale revolution has increased the demand for hydraulic fracturing or fracking services. “Rigzone” reports that some wells can require a trainload of sand during a frack job. Even with oil prices dropping recently, the demand for fracking, and consequently sand, continues unabated. The three largest service companies, Halliburton, Schlumberger, and Baker Hughes, all realize… Read More
Progress in Reducing Flaring of Bakken Gas
Excessive flaring has been a persistent problem for the state of North Dakota and operators in the Bakken Shale. While everyone is working together toward a solution, success has seemed elusive. Lack of gas gathering, processing and transportation infrastructure has been a significant factor. Further, as gas processing capacity comes on line, so do additional… Read More
