Australia’s Queensland government opens up potential shale rich frontier

The Australian northern state of Queensland’s next resources frontier is about to open after the State Government put 11,000sq km of western Queensland out to tender for exploration. Natural Resources Minister Anthony Lynham believes shale gas will be what explorers will look for in the sparsely populated southwest corner bounded by Windorah, Betoota, Eromanga and…

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Waterless fracking test well in US isn’t doing too well

While the oil and gas industry was excited about the idea of waterless fracking and the environmental and health benefits that it would bring, a test well in Ohio well has not yet demonstrated commercial potential. The $22 million test well operated by EV Energy Partners, along with eight other companies, in Tuscarawas County, Ohio,…

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EIA lowers 2015 US gas average price forecast to $2.93/MMBtu; Marcellus production still on upswing

Henry Hub spot prices are likely to average $2.93/MMBtu this year and $3.32/MMBtu next year, according to the Energy Information Administration (EIA), down 14 cents and 13 cents, respectively, from the agency’s previous month forecast. EIA’s price forecasts have been on a general downward trend for some time. In March, the agency said it expected…

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EIA says US shale production set to fall again in June

U.S. shale production growth will fall 86,000 barrels per day next month, the U.S. Energy Information Administration estimated in its monthly report, more evidence the nation’s oil boom is in decline. The EIA’s monthly forecast is the second in a row to project an overall decline in domestic production growth, as diminishing output from older…

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