Poland’s PKN Orlen to continue with shale gas projects despite writedowns

The CFO of Poland’s biggest oil company PKN Orlen, Slawomir Jedrzejczyk, said the company will continue with Polish shale gas exploration despite booking impairments on the projects in H1. A writedown on domestic shale gas activities reduced its second-quarter earnings by almost a quarter. State-controlled Orlen, following its bigger international competitors, is changing its view…

Details

Pennsylvania shale formations other than Marcellus drawing industry attention

The Marcellus Shale put Pennsylvania on the map as a gas-producing state, but other rock layers have the potential to keep it there far into the future. Drillers have sought unconventional well permits for 12 geological formations other than the Marcellus, according to state records compiled and organized by MarcellusGas.org. The state Department of Environmental…

Details
Pennrig

US shale drillers’ safety net is vanishing – analysts

The insurance protecting shale drillers against plummeting prices has become so crucial that for one company, SandRidge Energy, payments from the hedges accounted for a stunning 64% of first-quarter revenue, according to a report by Bloomberg. Now the safety net is going away, news agency says. The insurance that producers bought before the collapse in…

Details

Four reasons low oil prices help US shale producers – Boston CG

  The low-oil-price environment that has prevailed in recent months has presented significant short-term challenges, including squeezed margins and collapsing activity levels, to producers of U.S. shale oil. However, Iván Martén, a senior partner at the Boston Consulting Group, and the global leader of its energy practice, says his firm believes that an extended period…

Details