South Africa starts processing Karoo shale gas exploration permits

South Africa has opened a new chapter in its shale gas aspirations for the Karoo saying it would process Challenger Energy’s exploration licence application – one of a batch to be granted for the ecologically sensitive region. Notice that the application would be processed had been communicated to Challenger’s local subsidiary, Bundu Gas & Oil…

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University of Calgary opens energy research institute in Beijing, focus on shale

Canada’s University of Calgary has opened a jointly-funded research centre in Beijing to collaborate with Chinese partners in the effort to unlock the country’s vast potential for unconventional natural gas development. In a ceremony in the capital Thursday, University of Calgary president Elizabeth Cannon signed a partnership deal with industrial giant, Kerui Group. The partners…

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Algeria hopes for shale bonanza but it won’t be soon

The slow decline of Algeria’s conventional oil and gas resources, together with a sudden slump in oil prices, has put Algiers under pressure to find an alternative revenue stream. The government is therefore keen to tap the country’s considerable potential for unconventional development. Talk among politicians has been predictably bullish. Algerian Energy Minister Youcef Yousfi…

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China’s CNPC pins hopes on Sichuan shale gas exploration

Despite reports on the possible withdrawal of Royal Dutch Shell, China National Petroleum Co (CNPC) has reiterated its commitment to the exploration of shale gas in Sichuan. It will sink 13 billion yuan ($2.1 billion) into the project in 2014 and 2015, thereby boosting the province’s shale gas output to 2 billion cubic meters next…

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Accenture survey of Eagle Ford shale plays finds cost savings of up to 40% available

Oil and gas operators can reduce the costs of constructing, drilling and completing unconventional wells, as well as the overall time it takes to complete them, by up to 40% through better planning and management of logistics, contractors and materials, according to a new report by global consultants Accenture. For the higher performers, this could…

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Estimates of breakeven for US shale projects show there’s life below $80/bbl

With the oil price down 25%, many are recalibrating theor forecasts and investment options. There has been a general assumption that $80 a barrel is the point at which the US shale boom comes under threat. The shale boom based on fracking and horizontal drilling technology has made America the world’s biggest oil and gas…

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The future of shale: capital challenges and opportunities

For US producers, shale success amid lower oil prices is increasingly dependent on the basin and operator, panellists explained during EY Oil & Gas Center’s Energy Executive Insight Session (EEIS) earlier this month in Houston. In the longer term, continued improvements in technology, cost efficiency and productivity will drive shale sustainability and economic returns. “The…

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Morgan Stanley Global Insight: Is the US shale revolution replicable?

The mega-rise in US shale production had far-reaching implications. However, even with $140 oil prices the chances of a rapid repeat elsewhere look slight, according to the latest Oil & Gas Global Insight from Morgan Stanley. In summary, the report states: Argentina’s improving regulatory framework and favourable below ground fundamentals make it the most promising…

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