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Capital Spending Decreases, but Reserves Increase
A recent article in “Rigzone” cites a study by Ernst & Young which found that while capital expenditures (CAPEX) are falling, oil and gas reserves are rising. The study selected the 50 largest oil and gas companies, based on year-end 2013 reserves, and divided them into three categories: independent, large independent, and integrated. The decrease… Read More
Marcellus Drives Shale Gas Revolution
With production of 12 billion cubic feet per day (Bcf/d) the Marcellus shale is the premier shale gas play, not only in the U.S., but in the world, according to a recent article in “Rigzone”. Further, Wood MacKenzie, a consulting firm, predicts Marcellus production of more than 20 Bcf/d by 2018. These gains will be… Read More
Bakken’s Future
“Rigzone” reports that Harold Hamm, the Chairman of Continental Resources, told attendees at the Williston Basin Petroleum Conference that the Bakken shale could produce 2 million barrels of oil per day (bopd) by 2020. However, he also cautioned that safety concerns could jeopardize this promising potential. Hamm is considered by many the “godfather” of the… Read More
Shell Sells to Sanchez
Royal Dutch Shell announced the sale of its Eagle Ford shale acreage, reserves, facilities and infrastructure to Sanchez Energy Corp. according to a recent article in “Rigzone”. This includes 100% working interest in approximately 106,000 net acres in Dimmit, LaSalle and Webb counties in South Texas. The sale, which is effective the first of this… Read More
Produced Water Recycling Breakthrough?
“Rigzone” reports that California based research and development firm, OriginOil, appears to have developed a very promising technology. The new Electro Water Separation process will remove oil particles, suspended solids and bacteria from both frac blowback and produced (formation brine) water. This continuous, chemical free and low cost method of water treatment consists of two… Read More
