Chevron and Texaco are working to develop the natural gas vehicle fuel market in Colombia. Chevron produces the gas and Texaco sells it to consumers at TEXGAS brand fueling stations. “In the last six years, NGV consumption has grown more than 800 percent and now represents nearly 10 percent of Colombia’s national gas usage.” Perhaps ExxonMobile will start selling gas at hundreds of fueling stations atop of the Marcellus Shale gas play? More at Chevron.com.
Major oil companies are rapidly buying the small players in the Marcellus Shale gas play. Exxon Mobil Corporation just spent $1.7 billion to purchase Phillips Resources, Inc. and TWP Inc. This follows Chevron’s recent acquisition of Atlas Energy and other transactions. More on the FuelFix.com blog.
An article in Yahoo! News reports that Chevron plans to test the gas shale deposits in northeastern Bulgaria.
Much of the discussion at ExxonMobil’s annual shareholder meeting was on the subject of hydraulic fracturing.
The topic was also on the agenda at Chevron’s annual shareholder meeting.
An article on Platts.com reports on shareholder resolutions at ExxonMobil, Chevron and Ultra Petroleum calling for those companies to disclose information about the environmental and financial risks of hydraulic fracturing in the production of natural gas.
Chevron continues the stream of large diversified oil and gas companies who are buying up smaller companies with a heavy focus on natural gas shales. Atlas had lots of assets in the Marcellus Shale in Pennsylvania and West Virginia. Many of those leases probably give access to the deeper Utica Shale which is attracting more interest. More at Bloomberg.
Chevron announced that it will purchase Atlas Energy, a company with extensive holdings in the Marcellus Shale gas play of Pennsylvania for $4.3 billion. More at CNN Money.
Atlas Energy’s Third Quarter Production Report shares information on a number of Marcellus Shale wells in Fayette, Greene, Westmoreland, Washington and Indiana Counties of southwestern Pennsylvania. The report has production statistics (averaged every 30 days to illustrate decline rates), lateral lengths and number of frac stages.
Chevron continues to find more natural gas off the northwest coast of Australia with two wells in the Carnarvon Basin. These fields are close to their Gogron LNG terminal. (See press releases from August 12 and 16.)
Chevron’s Clio-3 discovery well found 260 feet of net gas pay, making it the third consecutive deepwater discovery in the Carnarvon Basin offshore of Western Australia. These new wells are near Chevron’s Gorgon Project, the largest single resource natural gas project in Australia’s history. Full details at the Chevron press release.
Chevron has three natural gas fields in Bangladesh, the Moulvibazar, Bibiyana and Jalalabad, which produce about two billion cubic feet per day – from rocks other than shale. Studies on all three indicated that they have much larger reserves than their original estimates.
Reliance Industries, one of India’s largest companies hopes to enter a partnership with Atlas Energy for a stake in their Marcellus Shale natural gas operations. More in an article at Reuters.
