Post Tagged with: "shale gas"

Japan’s Osaka Gas to Acquire Haynesville Shale-Focused American E&P

Japan’s Osaka Gas to Acquire Haynesville Shale-Focused American E&P

By Tyler Losier, Energy Reporter, Oil & Gas 360 Japanese company Osaka Gas to acquire Texas-based Sabine Oil & Gas Corporation Osaka Gas, a vertically integrated Japanese energy company, has entered into a definitive agreement with Houston-based Sabine Oil & Gas Holdings to acquire 100% of the outstanding shares of its subsidiary, Sabine Oil & Gas Corporation. Should the deal close as expected, it would mark the first time in history that a Japanese company has purchased a U.S.-based shale gas developer. Source: Sabine Oil & Gas Since July of last year, Osaka has worked to acquire a 35% interest in the eastern half of Sabine’s asset base. With this latest agreement, however, the company will now own all … Login or click here to subscribe Username or E-mail Password Remember Me     Forgot Password

Argentina’s June Gas Production Hits Highest Level in 11 Years

Argentina’s June Gas Production Hits Highest Level in 11 Years

From Reuters Argentina’s gas production rose to 140 million cubic meters a day in June, the highest level in 11 years, the government said on Saturday. That amount represented growth of 5.8% compared with the same period last year. Argentina’s treasury ministry credited the growth to an increase in production at the Vaca Muerta shale play, which is about the size of Belgium and could house one of the biggest reserves of shale gas and oil in the world. Oil production also reached 497,000 barrels a day in June, up 2.5% from the same period a year earlier, marking 16 months of uninterrupted growth, the government said. The government said the growth in production enabled it to boost exports, including sending between 4.33 million cubic meters and 6.3 million cubic meters of gas daily to Chile in June.     Argentina’s energy trade deficit for the first half of the[Read More…]

Former EQT CEO: Shale Gas Revolution an ‘Unmitigated Disaster’ for Investors

Former EQT CEO: Shale Gas Revolution an ‘Unmitigated Disaster’ for Investors

Shale industry is self-desctucting: companies need to slash drilling, abandon production growth and deliver yield – Schlotterbeck From S&P Global The shale gas revolution is over and Appalachia’s top producers need to radically change their behavior if they want to survive, according to former EQT Corp. CEO Steve Schlotterbeck. “The biggest problem facing the upstream industry, frankly, is the industry itself,” said Schlotterbeck, who created the nation’s largest natural gas producer by volume with the merger of EQT and neighbor Rice Energy in November 2017. “The shale gas revolution has been an unmitigated disaster for any buy and hold investor.” Speaking at Petroleum Update’s 2019 Northeast Petrochemical Conference in Pittsburgh, Schlotterbeck said upstream producers must change their orientation away from production growth that has swamped the market to delivering yield for their investors. Slashing drilling efforts to the bare bones while paying a healthy dividend with free cash is the[Read More…]

July 1, 2019 - 5:08 am Closing Bell Story, Energy News, Fracing
Robust Ethane Supplies from U.S. Shale Boom Drive Chemical Plant Investment to $200 Billion

Robust Ethane Supplies from U.S. Shale Boom Drive Chemical Plant Investment to $200 Billion

U.S. chemical, plastics plant investment of $202 billion is direct result of shale gas growth: ACC The American Chemistry Council (ACC) released data today and the trade group has determined that U.S. chemical and plastics industry investment linked to plentiful and affordable domestic supplies of natural gas and natural gas liquids (NGLs) from shale has surpassed $200 billion. Summary: Since 2010, 333 chemical industry projects cumulatively valued at $202.4 billion have been announced 53 percent of the investment is completed or under construction 41 percent is in the planning phase Fully 68 percent of the total is foreign direct investment or includes a foreign partner Includes new facilities and capacity expansions ACC analysis shows that $202.4 billion in capital spending could lead to $292 billion per year in new chemical and plastics industry output Investment will support 786,000 jobs across the economy by 2025 79,000 chemical industry jobs 352,000 jobs in supplier industries 355,000 jobs in communities[Read More…]

September 11, 2018 - 3:41 pm Closing Bell Story, Downstream, Oil and Gas 360 Articles
U.S. Shale Gas Export Projects Face Much Longer FERC Permitting Delays

U.S. Shale Gas Export Projects Face Much Longer FERC Permitting Delays

From Bloomberg FERC backlog after a surge in plant applications: unexpected wait could affect commercial viability of projects The approval of U.S. shale-gas export projects could be delayed by as many as 18 months as the top energy regulator struggles with a backlog of permit requests, according to people familiar with the matter. The Federal Energy Regulatory Commission is preparing to notify some developers of liquefied natural gas plants of 12- to 18-month delays in reviews, the people said, asking not to be named because the information isn’t public. That could affect the commercial viability of several ventures vying for a spot in the rapidly growing global gas market. FERC, an independent agency under the U.S. Department of Energy, is already tapping outside help, with Chairman Kevin McIntyre saying last month that FERC is hiring private contractors for the first time to help work through LNG reviews. Tamara Young-Allen, a[Read More…]

July 13, 2018 - 9:09 am Closing Bell Story, LNG, Regulatory
Oil prices turned firmly lower during midday trading on Tuesday. Crude futures were little changed earlier in the session, depressed by a report of record Saudi production but supported by expectations that oil exporters would agree to cut output at an OPEC meeting next week. Oil & Gas 360

United Nations Seems a Bit Fearful that Shale Gas Will Be What Achieves Global Prosperity

New UN report warns members to approach hydraulic fracturing with caution; says don’t invest in shale at the expense of renewables The United Nations Conference on Trade and Development has published a new report looking at the global shale gas phenomenon. The report is called “Commodities at a Glance, Special Issue on Shale Gas.” In an accompanying press release, the UN Conference on Trade and Development, whose slogan is “Prosperity for All,” said that hydraulic fracturing “should be approached with caution by countries seeking ways to increase access to energy.” The UN lectures that “investments in the shale gas sector should not be made at the expense of the deployment of renewable energies and energy efficiency strategies.” In a familiar chorus, the press release quoted the UN secretary-general as saying, “Climate change means that all countries must, as a matter of strategic urgency, move away from burning fossil fuels, including[Read More…]

June 1, 2018 - 3:59 pm Closing Bell Story, Fracing, LNG, Oil and Gas 360 Articles
INEOS Will Provide U.S. Ethane to China

INEOS Will Provide U.S. Ethane to China

INEOS and China’s SP Chemicals sign long term supply agreement for U.S. ethane Agreement includes construction of the largest ethane carrier ship ever built The deal will involve the construction of a 95,000cbm capacity ship which is expected to be delivered in 2019. Known in the US as a ‘Very Large Ethane Carrier’ or VLEC it will be the largest ethane carrier in the world, and will ship US ethane from shale gas to SP Chemicals’ new gas cracker facility, currently under construction in Taixing China. As with the INEOS Dragon ships, this vessel will be operated by EVERGAS. It will be the first VLEC in their fleet of 23 gas ships. The ship will be built in China under the management of the JACCAR Group. Ethane is used to make ethylene – one of the world’s most important chemical building blocks. Ethylene is an important raw material used to[Read More…]

November 22, 2017 - 1:13 pm China, Closing Bell Story, LNG, Oil and Gas 360 Articles
Oil prices turned firmly lower during midday trading on Tuesday. Crude futures were little changed earlier in the session, depressed by a report of record Saudi production but supported by expectations that oil exporters would agree to cut output at an OPEC meeting next week. Oil & Gas 360

India’s ONGC to Drill 17 Shale Exploratory Wells

Going after India’s Estimated 63 Tcf of shale gas From the Business Standard India’s State-owned ONGC Limited is planning to explore as many as 17 shale gas and oil wells in both east and west coasts with an investment of around Rs 700 crore. According to the minutes of a recent meeting of the Expert Appraisal Committee (EAC) of Ministry of Environment and Forests, the PSU sought the ministry’s nod to prepare Terms of Reference for exploring the wells. A senior official of the PSU said this is the first time that the oil and gas company has taken up shale gas exploration in such a big scale. Also, it first time that it has taken up shale gas exploration in the Krishna-Godavari basin. According to the minutes, ONGC sought permission for drilling 11 exploratory wells for shale oil/shale gas in Cambay basin at Mehsana, Ahmedabad and Bharuch districts of[Read More…]

Marcellus, Utica Driving 85% of Shale Gas Growth Since 2012

Marcellus, Utica Driving 85% of Shale Gas Growth Since 2012

Per well efficiencies up 2.6x in the Marcellus and 22.3x in the Utica since 2012 Increased productivity of natural gas wells in the Marcellus and Utica Shale basins is responsible for 85% of increased natural gas production in the United States since 2012, according to the Energy Information Administration (EIA). Natural gas from shale basins is now responsible for 56% of U.S. dry natural gas production. Collectively, shale production from the Marcellus and Utica regions increased by 12.6 Bcf/d from January 2012 to June 2015, making them the driving force behind overall growth. The EIA’s Drilling Productivity Report (DPR) tracks total production and rig productivity in major U.S. basins, illustrating how increased efficiencies have pushed production higher. In the Marcellus, new-well production per rig in January 2012 was 3.2 MMcf/d. By July 2015, that number increased 160% to 8.3 MMcf/d. The trend of new-well production per rig also follows the[Read More…]

Saudi’s Largest Petrochemical Company is Investing in U.S. Shale Gas

Saudi’s Largest Petrochemical Company is Investing in U.S. Shale Gas

Saudi investment in U.S. shale continues in the down market, not interested in acquiring U.S. companies at this point Saudi Basic Industries Corp. (ticker: TADAWUL:2010), or Sabic, plans to expand investment in U.S. shale gas projects through joint ventures, according to acting CEO Yousef al Benyan. Sabic has signed an agreement with Houston-based Enterprise Products Partners (ticker: EPD) to obtain U.S. shale gas, reports Bloomberg. The company may use the feedstock in the U.S. or export it to other countries such as the U.K., where the company has converted crackers to use shale gas as feedstock to produce olefins and their derivatives more competitively, al Benyan said in an interview in Riyadh. “The main areas in the U.S. we are looking to invest in are the northeast and the south as they fit our overall expectations including government support, labor laws and unions,” said al Benyan. “At this point we[Read More…]

July 27, 2015 - 6:47 pm Fracing, International, Oil and Gas 360 Articles, OPEC
Shale Gas Creating Renaissance in U.S. Plastics Manufacturing

Shale Gas Creating Renaissance in U.S. Plastics Manufacturing

Shale gas is making U.S. plastic manufacturing competitive globally The shale gas revolution is bringing plastic manufacturing back to the United States and making U.S. refiners more competitive globally, reports the American Chemistry Council (ACC). Due largely to plentiful and affordable natural gas and natural gas liquids from shale formations, U.S. jobs related to plastics manufacturing are expected to grow by 462,000 over the next decade – more than 20% – reaching more than 2.7 million. Cheap and abundant shale gas has breathed new life into the U.S. plastics manufacturing sector, based on a new study titled “The Rising Competitive Advantage of U.S. Plastics.” The study points out, since U.S. producers predominantly use natural gas-based feedstocks, and European and Asian producers generally use oil-based feedstocks, the spread between feedstock prices has made U.S. producers more competitive, even after the recent oil price decline. Increasing competitiveness is expected to bring more[Read More…]

May 14, 2015 - 12:46 pm Downstream, Oil and Gas 360 Articles
Increased Shale Gas Production Will Supply Bulk of U.S. LNG Export Demand, EIA Concludes

Increased Shale Gas Production Will Supply Bulk of U.S. LNG Export Demand, EIA Concludes

Increased natural gas production is projected to satisfy 60% to 80% of a potential increase in demand for added liquefied natural gas (LNG) exports from the Lower 48 states, according to recently released EIA report. The report, Effect of Increased Levels of Liquefied Natural Gas Exports on U.S. Energy Market, considered the long-term effects of several LNG export scenarios specified by the Department of Energy’s Office of Fossil Energy. In the export scenarios that EIA was asked to analyze, LNG exports from the Lower 48 states start in 2015 and increase at a rate of 2 billion cubic feet (Bcf) per day per year, ultimately reaching 12, 16 or 20 Bcf/d. EIA also included a 20-Bcf/d export scenario (Alt 20-Bcf/d) with a delayed ramp-up to identify the effect of higher LNG exports implemented at a more credible pace. LNG exports from the Lower 48 states in the baselines have projected 2040[Read More…]