Rig counts steady in major US shale plays; decline elsewhere

The recent sharp fall in oil prices has been causing a noticeable trend with the amount of rigs accounted for among various shale plays throughout the United States. In fact, over the past three weeks, rig counts have seen substantial declines with over 90 rigs being shut down, according to Baker Hughes. This raises the…


Sinopec’s Fuling shale gas report: carbon emissions cut by 12 million tonnes a year

Sinopec Group, Asia’s largest oil and gas refiner, has released an environmental, social and governance report on its shale gas development, the first of its kind in China. Jiao Fangzheng, Sinopec’s VP, said its shale gas exploration program is being developed based on three principles: operation security, water protection and community communication. “The shale gas…


BHP to stay the distance with shale oil despite oil price fall

BHP Billiton oil and gas chief Tim Cutt says productivity gains will keep margins strong, that he remains focused on shale oil growth and that non-core asset sales will still be pursued. The Australian-headquartered resources giant said it is studying development of two recent West Australian gas discoveries through existing infrastructure. Mr Cutt made the…


Shale gas protests hit southern Algeria

Protests in Algeria’s remote and sparsely populated south over efforts to exploit the country’s vast shale gas reserves spread to the regional capital on Tuesday, the state news agency reported. Algeria has the third-largest estimated shale gas reserves in the world, after China and Argentina. With the country’s once-rich oil and natural gas reserves declining,…


Gulfsands Petroleum Moroccan shale tests ‘better than expected’

Gulfsands Petroleum, a company exploring the emerging shale potential in Morocco, said Tuesday exploration results there were better than expected. The company said its drilling operations in a permit area in northern Morocco were completed two days ahead of schedule and yielded “significantly elevated gas readings.” CEO Mahdi Sajjad said in a statement the results…


Eagle Ford, Permian Basin push US proven reserves to a 40 year high

Proven reserves of crude oil and light condensate in United States are at a 40-year high with many thanks to the massive oil production coming from the Permian Basin and Eagle Ford shale plays. The US Energy Information Administration reported that US proven crude oil and lease condensate reserves increased 9.3% to 36.5 billion barrels…