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.
Foreign Gas Shales
First Horizontal Shale Gas Well in South America
Halliburton recently completed a horizontal well with multistage hydraulic fracturing at a depth of 4400 meters in the Neuquén Basin of Argentina. According to their press release it was the first horizontal gas shale well and the deepest shale gas well in South America. The well was drilled for Apache Corporation.
More at the Halliburton.com website.
Shale Gas Development in the UK
Rejecting calls for a moratorium and supporting energy independence, lawmakers in the UK will allow the development of shale gas deposits. The British Geological Survey estimates that the resource could be as much as 150 billion cubic meters of gas on-shore with a much larger resource offshore. More at FuelFix.com.
Chevron: Bulgaria Gas Shales
An article in Yahoo! News reports that Chevron plans to test the gas shale deposits in northeastern Bulgaria.
The International Movement of Natural Gas
The Congressional Research Service has a new report that addresses the international movement of natural gas. About 70% of the natural gas produced is consumed in the same country. This leaves 30% of all gas production moving via international trade. This trade occurs through pipelines and LNG shipments. The map below shows the global pattern of the international natural gas trade.
Image by the Congressional Research Service
International Gas Shales are Currently Throttled but Ready to Expand
Baker Hughes CEO Chad Deaton says that oil and gas shales are a small part of their current international business because of specialized equipment capacity but that sector is expected to grow significantly over time. More at Platts.com.
China: The Shale Gas Resource Leader
The shale gas boom that started in the United States is spreading globally. A recent report from the Energy Information Administration indicated that China has the world’s largest technically recoverable shale gas resource. Beijing is now working to help their shale gas resource get off the ground quickly with research funding and other assistance. More at MSNBC.com.
Should France Ban Shale Gas Development?
People in France are concerned about the potential environmental and social impact of developing their natural gas shale but at the same time they are concerned about their energy security. More at WorldOil.com.
World Shale Gas Resources
The shale gas boom that started in the United States has spread to countries worldwide. The Energy Information Administration has released a report that summarizes the shale gas resource for 14 regions outside of the United States. Get the report.
Fracking Moratorium in France
Natural gas companies are interested in drilling for natural gas in the shale basins of France, however, the government has extended a moratorium until environmental and economic studies are done. More at BusinessWeek.com.
Foreign Ownership of United States Gas Shales
A letter published in The Ithaca Journal complains about the many foreign companies who have purchased major stakes in United States gas shale companies.
LNG Energy Acquires Baltic Shale Gas Properties in Poland
LNG Energy, a Canadian exploration and development company, announced that it has acquired a 50% interest in 360,000 acres of Baltic Shale in Poland, giving the company a gross acreage position in Poland of approximately 1.1 million acres of shale gas properties in 5 separate concessions. More at the LNG Energy website.
PetroChina Buying Canadian Shale for $5.4 Billion
PetroChina plans to purchase half of EnCana’s Montney Shale assets in Alberta and British Columbia for $5.4 billion (Canadian). In the past 14 months Chinese oil and gas companies have acquired $46 billion in foreign resources. More at RigZone.com.
Exxon to Sell 49% of its Polish Shale Gas Stake
Exxon announced that it plans to sell 49% of its interest in shale gas plays in the Podlasie Basin of Poland. More in an article at Reuters.
Shale Gas in the Karoo Basin, South Africa
Royal Dutch Shell has applied to receive exploration rights in the Karoo Basin of South Africa where they will assess the potential of organic black shales. More in a Reuters Africa article.
Large Gas Field May Make Israel an Exporter
A major gas field discovered in the Mediterranean off the coast of Israel may convert the country from a major importer of natural gas to a significant exporter. More in the Houston Chronicle.
