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Encana to Buy Athalon
“Rigzone” reports that major Canadian natural gas producer, Encana Corp., will purchase Ft. Worth based Athlon Energy Inc. as part of a shift in focus from gas to oil. In the $7.1 billion deal Encana will acquire Athalon’s assets, primarily 140,000 net acres in the Permian Basin of West Texas. The Permian Basin, long a… Read More
Dominion’s Cove Point LNG Export Facility Approved
“Rigzone” reports that the Federal Energy Regulatory Commission (FERC) has approved Dominion Resources Inc.’s Cove Point, Maryland, Liquefied Natural Gas (LNG) export project. The proposed facility will cost between $3.4 and 3.8 billion dollars and will have a capacity of 5.75 million metric tons per year. Dominion has already secured markets for total output via… Read More
Total to Sell Interest in Utica Shale Gas Transport
“Rigzone” reports that French oil major, Total, will sell its 25% stake in Cardinal Gas Services, a pipeline transporting Utica shale gas in Ohio. A consortium of South Korean entities will pay $450 million for the interest, and Cardinal will continue to provide gas gathering and transportation services to Total. The French company will retain… Read More
Significant Upside Potential for Enhanced Oil Recovery
“Rigzone” reports that consulting group Wood Mackenzie predicts that enhanced oil recovery (EOR) advances could add an additional 1.5-3 million barrels per day by 2030, an increase of 25%, according to their latest analysis. While this technology is not commercially available today, it is currently being tested by operators like EOG in the Eagle Ford… Read More
Can the U. S. Shale Revolution be Replicated?
According to Morgan Stanley Research, the answer is “Possible, but not likely”. In their Commodities Fall Symposium, the investment firm concedes there are many shale deposits around the world, but a repeat of what we have seen in the U. S. is improbable, especially in this decade. Geology, human capital, infrastructure, drilling expertise and industry… Read More
