LNG Energy has an agreement to drill and test an exploratory well in the Middle Jurassic Etropole Shale of Northwestern Bulgaria. Gas sells for about $10/Mcf in Bulgaria.
More in the Oil and Gas Journal.
Drilling Activity
Ohio: The Lowest Number of New Wells Since 1887
An article in Cleveland.com reports that there were 651 new oil and gas wells drilled in Ohio during 2010 – the smallest number of wells drilled since 1887. Low natural gas prices are blamed.
More at Cleveland.com.
Oil Rig Count Exceeds Natural Gas Rig Count
The number of oil rigs drilling in the United States has surpassed the number of natural gas rigs for the first time in 18 years. Low natural gas prices discourage drilling and the discovery of oil in shale plays such as the Utica Shale, Bakken Shale and Eagle Ford Shale has attracted attention.
More in the Houston Chronicle.
Will Natural Gas Investments Drive Down Prices?
Major capital investments in the North American gas shales sector could accelerate rates of drilling and production to cause downward pressure on prices. An article on the Reuters.com website explores gas shale investments and their potential impact upon prices.
Tuscaloosa Marine Shale: Hydraulic Fracturing Hearings
Public hearings are being scheduled related to the use of hydraulic fracturing to tap natural gas in the Tuscaloosa Marine Shale near Baton Rouge, Louisiana. More in an article on TimesUnion.com.
Drilling for Shale Gas in Ohio State Parks?
The Marcellus Shale, Utica Shale and Upper Devonian Shales are beneath many of Ohio’s State Parks. Some members of Ohio State Government would like to obtain the lease and royalty monies from those lands while environmentalists oppose that drilling. More in the Columbus Dispatch.
17,000 Marcellus Shale Gas Wells?
Statoil ASA and Chesapeake Energy project that they could drill as many as 17,000 natural gas wells into the Marcellus Shale over the next twenty years. More in the West Virginia Gazette.
Shareholders Want Hydraulic Fracturing Risk Disclosure
A few oil and gas companies have received shareholder resolutions calling for disclosure of risks associated with hydraulic fracturing. Some resolutions even specify field operating methods for the fracking procedure. More in an article titled “Investors Seek Disclosure of Fracking Oil, Gas Risks” at BusinessInsurance.com.
Can the Nitrogen Content of Natural Gas Determine Its Source?
Natural gas has been found in two private water wells in Parker County, Texas. The nitrogen content of the gas may determine if Barnett Shale drilling activity by Range Resources is the source or if the source is shallower rock units. More in the Washington Examiner.
Mineral Rights – Basic Information
“If we go back in time to the days before drilling and mining, real estate transactions were fee simple transfers. However, once commercial mineral production became possible, the ways in which people own property became much more complex. Today, the leases, sales, gifts and bequests of the past have produced a landscape where multiple people or companies have a partial ownership of or rights to many real estate parcels.” Quoted from the Geology.com article.
Acceleration of Activity in the Eagle Ford Shale
The successes of 2010 in the Eagle Ford Shale will probably make it one of the fastest growing oil and gas targets of 2011. Shell, BP, Statoil and CNOOC have all made major acquisitions in the Eagle Ford. More at FuelFix.com.
Chesapeake Will Drill Over 300 Barnett Wells in 2011
Last year Chesapeake Energy paid out nearly $300 million in Barnett Shale royalties and this year plans to drill over 300 new wells.
Utica Shale: The Natural Gas Giant Beneath the Marcellus
A rock layer below the Marcellus Shale could prove to be another incredible source of natural gas. The Utica Shale is thicker, more geographically extensive and has already proven its ability to support commercial production.
