How long will the new natural gas shale plays be producing gas? 20 years? 40? More? This topic was discussed at IHS CERA conference last week in Houston. Some believe that they will be producing gas for a long time.

“The U.S. Department of Energy announces the release of Modern Shale Gas Development in the United States: A Primer. The Primer provides regulators, policy makers, and the public with an objective source of information on the technology advances and challenges that accompany deep shale gas development.” Quoted from fossil.energy.gov. Download the .pdf

Ziff Energy Group has a press release on their website predicting that unconventional gas plays now active across North America will account for 53% of the continent’s gas production by 2020.

Chesapeake Energy closed the deal on a sale of its Arkoma Basin Woodford Shale leases to British Petroleum America, Inc. for $1.7 billion in cash. Chesapeake’s goal is to monetize properties that they purchased early at low prices and spend that money acquiring acreage in plays such as the Haynesville, Marcellus and Barnett. More in a Chesapeake news release.

British Petroleum bought 90,000 acres of Woodford Shale gas leases from Chesapeake Energy for $1.75 billion. Most of the gas shale activity has been confined to smaller independent companies and BP is one of the first international oil companies to jump into the shales. More information at NewsOK.com.