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Argentina’s YPF, Malaysia’s Petronas ink fracking deal for Vaca Muerta shale

Argentina’s YPF and Malaysia’s Petronas have agreed to jointly develop shale oil in Argentina’s vast Vaca Muerta formation. YPF said Petronas would contribute $475 million to the initial investment in oil exploration in the southern Argentine province of Neuquen. “During the pilot stage, we will drill more than 30 wells,” YPF said, noting that depending…

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US Eastern Gas: Marcellus pipeline takeaway capacity additions to ease extreme price differentials: Morningstar Report

Executive Summary of Morningstar Senior Commodities Analyst Jordan Grimes recently published an in-depth research report about the effect of takeaway capacity additions in the Marcellus and Utica shale on basis prices for gas. In the report, he describes how pipeline expansion projects should alleviate the current extreme pricing differentials in gas basis prices and outlines…

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Australia’s Queensland to review fracking rules to boost shale gas and shale oil industry

Australia’s Queensland State Government will review its fracking conditions and regulations around groundwater as it paves the way for an emerging industry in shale gas, shale oil, tight gas and basin-centred gas. Resources Minister Andrew Cripps has released a plan to potentially piggy back off the coal seam gas industry through the development of an…

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Włodzimierz-Karpiński

Poland to spend $1.6 billion on shale gas exploration by 2016

Poland will invest about Zloty 5 billion ($1.57 billion) in shale gas exploration by 2016, the country’s treasury minister Wlodzimierz Karpinski said. “Polish energy security and independence is a government priority,” Karpinski told parliament as he outlined the government’s energy policy priorities until the end of its term next year, according to a treasury ministry…

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BHPrig

Total US shale oil, gas producers’ revenue to exceed capex for first time since 2008: FT

Cash earned from operations by 25 leading North American shale oil and gas exploration and production companies is expected in aggregate to exceed their capital spending next year for the first time since 2008, according to a Financial Times analysis. Shale companies’ finances have improved rapidly as a result of a shift by many away…

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Pakistan government says search for shale gas to start next year

Pakistan’s Federal Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi said the government is working on a shale gas policy framework and drilling for this yet-to-be-explored energy source will start next year. He was speaking at the signing of an exploration licence and petroleum concession agreement for the Karak North block with Tallahassee Resources…

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Wood Mackenzie’s shale energy perspective and outlook sees 3.0 era as likely route to global expansion

Houston-based energy analyst firm Wood Mackenzie has identified three distinct phases of the unconventional onshore revolution and has explored the future of the sector in North America and internationally. 1.0   Numerous mega gas plays This period was characterized by intense production growth, with operators amassing positions in dozens of mega gas plays. In 2005, the…

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HAL33557

Improved techniques open up prospects for re-fracking in major US shale plays

Tens of thousands of oil and gas wells have been drilled and hydraulically fractured in recent years as part of the shale boom that has spread across the US. Now improved techniques and with a few years of experience under their belts, the leading US oil field service companies are in the early stages of…

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Ineos buys shale gas licence stake in Scotland

UK Petrochemical company Ineos has bought a majority share in a licence for shale gas exploration and development in Scotland. The company said it had purchased a 51% share in an onshore oil and gas licence surrounding its refining and petrochemical complex at Grangemouth. The licence covers 329 square kilometres of the Midland Valley in…

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