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Tag Archives: shale

ExxonMobil to Triple Permian Production by 2025

ExxonMobil announced that it plans to triple total daily production to more than 600,000 oil-equivalent barrels by 2025 from its operations in the Permian Basin in West Texas and New Mexico. Tight oil production from the Delaware and Midland basins will increase five-fold in the same period. Recent changes in the U.S. corporate tax rate create an environment for increased ...

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Colorado has 40 times more natural gas than thought

natural gas, Colorado, hydraulic fracturing

DENVER (AP) — Western Colorado has 40 times more natural gas than previously thought, but an immediate boom is unlikely because of low gas prices, government and industry experts said Wednesday. The U.S. Geological Survey said the Mancos Shale formation in Colorado’s Piceance (PEE’-yahns) Basin holds about 66.3 trillion cubic feet of gas, up from 1.6 trillion estimated in 2003. ...

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Chevron shifts focus to Texas shale

Chevron shifts focus to Texas shale

Chevron plans to focus on shorter-cycle investments in West Texas shale plays after its larger, long-term investments come into production this year. By the end of the decade, Chevron believes it can nearly triple its oil production in the Permian Basin by increasing its rig count from seven to 14. “Don’t be surprised if by the middle of the next ...

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Study: Fracking in Germany would not contaminate drinking water

Study: Fracking in Germany would not contaminate drinking water

A study by geologists at the Federal Institute for Geosciences and Natural Resources (BGR) found that developing Germany’s shale oil and gas with hydraulic fracturing would not contaminate drinking water resources. A Reuters report summarized its findings. Geologists used computer simulations to study what would happen to fracking fluids when injected into the bedrock of the North German Basin. “We ...

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Consol plans Utica gas well at Pittsburgh airport

Consol Energy Inc. will drill a test well into the deeper Utica shale from one of its Marcellus gas well pads on Pittsburgh International Airport property. The Cecil-based natural gas and coal producer said Tuesday it received approval from Findlay zoning officials to replace one of the 12 Marcellus wells it planned for Pad 4 at the airport with a ...

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Filings show pipeline company considered compressor station for Winchester

WINCHESTER — A recent federal filing by the developer of a controversial pipeline reveals the firm considered putting a vital piece of the project in Winchester, although it’s unclear whether that option’s still on the table. And as a federal commission considers the need for the Northeast Energy Direct pipeline, local residents say recent problems with the commission’s website have ...

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Consol cuts gas spending

oil field, Kuwait, oil spill

Consol Energy Inc. again cut its budget for spending on natural gas exploration and production because of continued low prices, though it won’t rule out drilling a few new wells in 2016. The Cecil-based gas and coal producer early Wednesday announced a new capital budget plan and annual production estimates ahead of a two-day financial conference in Miami. The budget ...

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In Texas, residents are riding out the latest oil bust

BIG LAKE — The week before Christmas, restaurant owner Terry Stevens warmly shook hands with oil workers and wished them a happy holiday as they walked out the door, some possibly for the last time. Stevens, a 52-year-old Michigan transplant, moved to this West Texas outpost five years ago, before the latest oil boom. Workers flocked to the Mexican restaurant ...

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Oil exports could bolster Eagle Ford – eventually

The first oil exports from the United States left the Port of Corpus Christi on Thursday afternoon aboard the “Theo T” tanker heading for Europe just weeks after Congress repealed the nearly 40-year-old export ban. The exports — using Eagle Ford oil pumped by ConocoPhillips and transported by NuStar Energy — mark a momentous change in the midst of one ...

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