Industry officials call for patience in slow-moving Niobrara Shale oil play Billings Gazette - Aug 13, 2011 While the Niobrara Shale play in southeast Wyoming has been slow to produce results, efforts in the Douglas area have shown promise. ConocoPhillips Acquires Niobrara Shale Acreage In ColoradoHOUSTON -(Dow Jones)- ConocoPhillips (COP) said Thursday it has agreed to buy 46000 acres in the Niobrara Shale from Lario Oil & Gas in Colorado. 2 Small-Cap Energy Stocks on My RadarWhat's more, this company has amassed more than 70000 net acres in the Niobrara shale. While this company's cash flows and reserves consist mainly of natural gas, Double Eagle may add a meaningful amount of oil to its production and reserve mix as it ... NOREEN: If angst was oil, we'd all be richIs there oil thousands of feet deep, beneath what is known as the Niobrara Shale Formation? The general public doesn't know and if anyone else does, the secret is being closely held. ENSERVCO Reports Revenue Growth of 34% and 49% in Second Quarter and Six-Month ... MarketWatch (press release) - Aug 15, 2011 "Much of our attention during the quarter was focused on launching our North Dakota and Wyoming operations centers, which will serve customers in the Bakken Shale and Niobrara Shale regions, respectively. The lengthy heating seasons in both of these ...  The two faces of ConocoPhillips Petroleum Economist - 2 hours ago The latest, its July purchase of up to 46000 acres in Colorado's Niobrara shale from Lario Oil & Gas. That's not to say it's retrenching to home territory. Recovery Energy Reports Second Quarter Financial Results and Provides ... MarketWatch (press release) - 17 hours ago In addition to being prospective for the Niobrara oil shale formation, the Company's asset base is comprised of current production and reserves from the "J" sand along with extensive leasehold prospective for other hydrocarbon-bearing formations such ... PDC Lifts 2011 Capital Budget, Production Forecast - Quick Facts RTT News - Aug 3, 2011 This production growth exceeds prior 2011 guidance of 44.9 Bcfe, and is expected to come from the Wattenberg Field including the horizontal Niobraradevelopment, Permian Basin and Marcellus Shale development, as well as from the partnership repurchase ... PDC Energy Increases 2011 Capital Budget and 2011 Production Guidance, Expands ... MarketWatch (press release) Three US oil and gas companies file for IPOs The company has exposure to the Bakken shale in North Dakota and Montana, the Denver-Julesburg Basin and the Niobrara shale in the Rocky Mountain region, and the Granite Wash and the Mississippian oil trend in the mid-continent region. Noble Energy's operations boosted by Niobrara Gas Business Briefing - Jul 29, 2011 Noble Energy Inc continues to expand its Niobrara Shale drilling program at Wattenberg, with plans to bring a fifth horizontal rig into the field in the middle of this quarter.  Emerging Shale Oil PlaysThis strategy that has paid off for EOG Resources (NYSE: EOG), the leading oil producer in North Dakota, the Eagle Ford Shale and theNiobrara Shale. Lower entry prices translate into more financial flexibility and superior margins for producers that ... Learn more about oil and gas drilling Two public meetings are scheduled this month to shed light on oil and gas drilling the Niobrara Shale formation which underlies El Paso County. Jason Wangler Thinks Williston Basin Stocks are Hot Oakshire Financial - 21 hours ago Gulfport is also drilling wells in south Louisiana and in the Permian Basin of Texas, and in the Niobrara in the Rockies. It also has some oil sands in Canada.  Carrizo Oil and Gas Q2 profit up on higher productionEagle Ford Shale is an oil-rich basin located in South Texas while Niobrara is in the Denver-Julesberg basin in Colorado. Carrizo Oil & Gas, Inc. Announces Second Quarter 2011 Financial Results and ... MarketWatch (press release) Ultra Petroleum makes bid on Colorado Springs acreageThe swath of 18000 acres known as the Banning Lewis Ranch and near the Niobrara shale was intended to be a master planned community including as many as 75000 homes. Bill Barrett Corporation Reports Second Quarter 2011 Results and Announces ... MarketWatch (press release) - Aug 4, 2011 The Company's DJ Basin exploration is targeting Niobrara oil. McRae Gap - The Company has identified approximately 103000 net undeveloped acres within its acreage position in the area that it considers prospective for Niobrara shale oil. Colorado property owners faced with possibility of being forced into drilling ...The horizontal wells the industry is drilling to capture oil from the Niobrara's shale can extend 5000 feet or more, requiring larger drilling areas that will affect more landowners, Astrella said. Summit aims to answer oil, gas exploration questions The Niobrara Shale formation, the latest fossil fuel find in the area, undercuts much of eastern Colorado and parts of Wyoming, Kansas and Nebraska. Delta Petroleum Corporation Reports Strong Initial Results From the 2C Well ... PR Newswire (press release) - Jul 25, 2011 We believe that this well's result combined with other Delta operated shale wells and similar wells from other operators in the Piceance Basin, validate the resource potential of the Niobrara and Mancos shales in the basin. It is important to note that ...  Marathon Oil Corporation Reports Second Quarter 2011 Results Citybizlist (press release) - Aug 2, 2011 During the second quarter of 2011, Marathon Oil assigned an undivided 30 percent working interest in 180000 acres in the Niobrara Shaleplay, located in southeast Wyoming and northern Colorado, to another company for $270 million, recording a gain of ... |
Wednesday, August 17, 2011
Niobrara Shale Basin News Briefs
Tuesday, August 9, 2011
Samson Drilling Preping for 4 wells in Niobrara B Goshen Co. Wyoming
Samson preparing for new campaign
Australia-listed Samson Oil & Gas is preparing to embark on a four well campaign in the North American states of Wyoming and Montana.
Samson said the rig up of the drilling rig Evergreen Rig-22 had commenced at the Defender US33-2-29H well location on its Hawk Springs project in Goshen County Wyoming.
The Defender US33-2-29H well will be drilled to a total depth of about 7450 feet and a conventional core will be taken from the Niobrara formation.
Samson said the vertical pilot borehole would be plugged back to a kick-off point above the Niobrara and drilled 4300 feet horizontally within the Niobrara B.
The rig will then be moved to drill the Spirit of America US34-1-29 well on the same project which will evaluate multiple conventional targets, including two closed structural traps in the Permian and Pennsylvanian sections.
After drilling operations are completed on the Hawk Spring project the rig will be relocated to Samson’s Roosevelt project in Montana to drill the Australia II KA6 -1-29H and Gretel 11 KA12 -1-30H wells.
Saturday, July 23, 2011
Drilling Regulators To Hold Contractors Liable For Environmental Infractions
For decades, the U.S. agency that polices offshore drilling has had a laser-like focus on the companies searching for oil and gas in federal waters.
But now, under the leadership of a former federal prosecutor, the agency is expanding its regulatory reach beyond oil and gas companies to the drilling rig owners, service firms and other contractors that work for operators.
“No one operating on the outer continental shelf should be immune,” argues Michael Bromwich, the head of the federal Bureau of Ocean Energy Management, Regulation and Enforcement.
And, Bromwich adds, it would be irresponsible for the government to turn its back on any “egregious” behavior offshore just because it’s by a rig owner, cement contractor or any other service firm.
Bromwich insists that a new legal interpretation of the ocean energy bureau’s authority confirms that the agency can pursue fines and other civil penalties against offshore contractors that behave badly – even though he stresses that the chief focus will remain on operators.
Last year’s Gulf oil spill put a new focus on the way the oil and gas industry is regulated, especially after a presidential commission said the disaster was evidence of systemic problems and poor communication among the broad cast of characters involved in the project.
Limited responsibility
At the top of the chain was BP, the primary offshore operator
that held the lease on which its failed Macondo well was drilled. Other companies also were involved – including Transocean, which owned the Deepwater Horizon rig working on the job, and Halliburton, which applied cement barriers at the well site.
that held the lease on which its failed Macondo well was drilled. Other companies also were involved – including Transocean, which owned the Deepwater Horizon rig working on the job, and Halliburton, which applied cement barriers at the well site.
Bromwich said the spill revealed holes in the bureau’s traditional approach to enforcement because, no matter what or who caused last year’s disaster, the agency generally would be limited to holding the primary operator – BP – responsible.
Even so, the agency’s traditional focus on operators does not bar BP from suing its contractors independently. It also doesn’t block the Justice Department from pursuing criminal or civil claims against others involved in an offshore accident – just as is happening now in a federal district court in New Orleans.
Bromwich also was frustrated earlier this year after he unsuccessfully pressed Transocean to help ensure that two of its employees would testify before a federal probe of the spill. “This served to underscore the sense that Transocean – and other contractors and subcontractors – were acting as though they had no regulatory obligations,” he said.
‘Huge indigestion’
By upending a longstanding practice of making offshore operators solely responsible for accidents that happen under their watch, contractors say the change casts doubt on their legal liability and the risk their insurers take on.
“It’s not well defined, so insurance companies are unsure how to insure for it and what kind of premiums (to charge),” said Randall Luthi, head of the National Ocean Industries Association. “We in industry always feel that it’s important that you tell the regulated what you’re going to expect from them, and how you are going to regulate them. But those details apparently are lacking.”
Brian Petty, the executive vice president of government affairs for the International Association of Drilling Contractors, said Bromwich is overturning a system that has been “settled” for decades.
Any move to shuffle the system and create “an opening for government action without any parameters” is unsettling, Petty said. “This gives us huge indigestion.”
He added that the insurance calculations and threat of unlimited risk could discourage some rig owners from operating in U.S. waters.
“In this robust global drilling market, drilling contractors will have to assess whether they want to take on the possibility of that exposure,” Petty said.
Not a revolution
Facing a backlash from some Gulf Coast lawmakers on Capitol Hill, Bromwich has appeared to scale back plans that initially seemed much more ambitious.
When he first announced the plan at the Offshore Technology Conference in Houston this May, Bromwich stressed that the ocean energy bureau has “broad legal authority over all activities relating to offshore leases, whether it is engaged in by lessees, operators or contractors.”
“We can exercise such authority as we deem appropriate,” he added, in a room filled with representatives from the very contractors he was targeting.
But after testifying before the House Natural Resources Committee on July 15, Bromwich told reporters that the change wasn’t going to be “a revolution” or “the new dominant strain in our regulation.” And he made clear that his agency does not plan to issue new regulations targeting offshore operators.
Not everyone is assuaged. The House is set to debate a government spending bill next week that would bar the ocean energy bureau from using federal dollars to go after contractors unless it explained its authority to Congress. Although the provision stops short of an outright ban, it is a signal that lawmakers intend to keep a close watch on the issue.
Sunday, May 1, 2011
Top Energy Players in Shale Business
Anadarko Petroleum Corporation (APC)- Anadarko Petroleum Corporation (Anadarko) is an independent oil and gas exploration and production company, with 2.3 billion barrels of oil equivalent of proved reserves as of December 31, 2009. The Company operates in three operating segments: Oil and gas exploration and production, Midstream and Marketing.
Approach Resources, Inc. (AREX)- Approach Resources Inc. (Approach) is an independent energy company engaged in the exploration, development, production and acquisition of natural gas
and oil properties. The Company operates or have interests in West Texas, East Texas, Northern New Mexico and Southwest Kentucky.
Apache Corp. (APA)- Apache Corporation is an oil and gas exploration and production company with operations in the United States, Canada, Egypt, the United Kingdom North Sea, Australia and Argentina. Apache common stock is listed on the New York Stock Exchange and quoted on the NASDAQ National Market under the symbol APA.
Baker Hughes Incorporated (BHI)- Baker Hughes Incorporated (Baker Hughes) is engaged in the oilfield services industry. The Company is a supplier of wellbore related products and technology services and systems and provides products and services for drilling, formation evaluation, completion and production, and reservoir technology and consulting to the worldwide oil and natural gas industry.
Brigham Exploration Co. (BEXP)- Brigham Exploration Company is an independent exploration, development and production company that utilizes advanced exploration, drilling and completion technologies to systematically explore for, develop and produce domestic onshore oil and natural gas reserves.
Cabot Oil & Gas Corporation (COG)- Cabot Oil & Gas Corporation is an independent oil and gas company engaged in the development, exploitation and exploration of oil and gas properties located in North America. During the year ended December 31, 2009, the Company restructured its operations by combining its Rocky Mountain and Appalachian areas to form the North Region and combining the Anadarko Basin with its Texas and Louisiana areas to form the South Region.
Carrizo Oil & Gas Inc. (CRZO)- Carrizo Oil & Gas, Inc. (Carrizo) is an independent energy company, together with its subsidiaries is engaged in the exploration, development, production and transportation of natural gas and oil, principally in the United States. Its core area is the Barnett Shale area in North Texas (Barnett Shale or Fort Worth Barnett Shale), with a focus on Southeast Tarrant County, Texas.
Cimarex Energy Co. (XEC)- Cimarex Energy Co. is an independent oil and gas exploration and production company. The Company's operations are located in Texas, Oklahoma, New Mexico, Kansas and Wyoming. As of December 31, 2009, proved oil and gas reserves totaled 1.5 trillion cubic feet equivalent (Tcfe), consisting of 1.2 trillion cubic feet (Tcf) of gas and 58 million barrels of oil and natural gas liquids.
Continental Resources Inc. (CLR)- Continental Resources, Inc. is an independent crude oil and natural gas exploration and production company with operations in the North, South and East regions of the United States. As of December 31, 2009, approximately 76% of its estimated proved reserves were located in the North region.
Concho Resources, Inc. (CXO)- Concho Resources Inc. (Concho) is an independent oil and natural gas company engaged in the acquisition, development and exploration of oil and natural gas properties. The Company's principal operating areas are located in the Permian Basin region of Southeast New Mexico and West Texas, an onshore oil and natural gas basin in the United States.
ConocoPhillips (COP)- ConocoPhillips is an international, integrated energy company. It has six segments. Its E&P segment explores for, produces, transports and markets crude oil, natural gas, natural gas liquids and bitumen on a worldwide basis.
Crimson Exploration Inc. (CXPO)- Crimson Exploration Inc. is an independent energy company engaged in the acquisition, exploitation, exploration and development of oil and natural gas properties, primarily in the United States Gulf Coast and South Texas regions.
Denbury Resources Inc. (DNR)- Denbury Resources Inc. (Denbury) is engaged in the acquisition, development, operation and exploration of oil and natural gas properties in the Gulf Coast region of the United States, primarily in Mississippi, Louisiana, Texas and Alabama.
Devon Energy Corporation (DVN)- Devon Energy Corporation (Devon), together with its subsidiaries, is an independent energy company engaged primarily in exploration, development and production of natural gas and oil. The Company's oil and gas operations are concentrated in various North American onshore areas in the United States and Canada.
EXCO Resources Inc. (XCO)- EXCO Resources, Inc. (EXCO) is an independent oil and natural gas company engaged in the exploration, exploitation, development and production of onshore North American oil and natural gas properties.
Forest Oil Corp. (FST)- Forest Oil Corporation (Forest) is an independent oil and gas company engaged in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids primarily in North America. Forest's total estimated proved reserves as of December 31, 2009, were approximately 2,121 billion cubic feet equivalent.
GeoResources, Inc. (GEOI)- GeoResources, Inc. is an independent oil and gas company engaged in the acquisition and development of oil and gas reserves through an active and diversified program, which includes purchases of reserves, re-engineering, development and exploration activities focused in the Southwest, Gulf Coast and the Williston Basin areas of the United States.
GMX Resources Inc. (GMXR)- GMX Resources Inc. (GMX) is a pure play independent oil and natural gas exploration and production company. The Company is focused on the development of Haynesville/Bossier Shale and Cotton Valley Sands in the Sabine Uplift of the Carthage, North Field of Harrison and Panola counties of East Texas (its core area).
Halliburton Company (HAL)- Halliburton Company provides a variety of services and products to customers in the energy industry related to the exploration, development, and production of oil and natural gas.
Hess Corporation (HES)- Hess Corporation (Hess) is a global integrated energy company that operates in two segments, Exploration and Production (E&P) and Marketing and Refining (M&R). The E&P segment explores for, develops, produces, purchases, transports and sells crude oil and natural gas.
Linn Energy, LLC (LINE)- Linn Energy, LLC (LINN Energy) is an independent oil and natural gas company. The Company’s properties are located in the United States, primarily in the Mid-Continent, California and the Permian Basin. During the year ended December 31, 2009, its proved reserves were 1,712 billions of cubic feet equivalent (Bcfe), of which approximately 36% were oil, 45% were natural gas and 19% were natural gas liquids (NGL).
Magnum Hunter Resources Corp. (MHR)- Magnum Hunter Resources Corporation (Magnum Hunter) is an independent oil and gas company engaged in the acquisition, development and production of oil and natural gas, primarily in West Virginia, North Dakota, Texas and Louisiana.
MDU Resources Group Inc. (MDU)- MDU Resources Group, Inc. is a diversified natural resource company. Montana-Dakota Utilities Co. (Montana-Dakota), a public utility division of the Company, through the electric and natural gas distribution segments, generates, transmits and distributes electricity and distributes natural gas .
Newfield Exploration Co. (NFX)- Newfield Exploration Company is an independent oil and gas company engaged in the exploration, development and acquisition of oil and gas properties. The Company's domestic areas of operation include the Anadarko and Arkoma Basins of the Mid-Continent, the Rocky Mountains, onshore Texas and the Gulf of Mexico..
Newfield Exploration Co. (NFX)- Newfield Exploration Company is an independent oil and gas company engaged in the exploration, development and acquisition of oil and gas properties. The Company's domestic areas of operation include the Anadarko and Arkoma Basins of the Mid-Continent, the Rocky Mountains, onshore Texas and the Gulf of Mexico..
Nexen Inc. (NXY)- Nexen Inc. (Nexen) is an independent, Canada-based global energy company. It operates in three segments: oil and gas, energy marketing, and chemicals. The oil and gas operations include the UK North Sea, Canada, Syncrude, US Gulf of Mexico, Yemen and Other International (Colombia, offshore West Africa and Norway).
Northern Oil and Gas, Inc. (NOG)- Northern Oil & Gas, Inc., is an independent energy company engaged in the acquisition, exploration, exploitation and development of oil and natural gas properties. It is focused on the activities primarily on projects based in the Rocky Mountain Region of the United States, specifically the Bakken and Three Forks/Sanish formations within the Williston Basin.
Newfield Exploration Co. (NFX)- Newfield Exploration Company is an independent oil and gas company engaged in the exploration, development and acquisition of oil and gas properties. The Company's domestic areas of operation include the Anadarko and Arkoma Basins of the Mid-Continent, the Rocky Mountains, onshore Texas and the Gulf of Mexico.
Oasis Petroleum Inc. (OAS)- Oasis Petroleum Inc. is an independent exploration and production company focused on the acquisition and development of unconventional oil and natural gas resources. It has accumulated approximately 292,000 net leasehold acres in the Williston Basin.
Oceaneering International, Inc. (OII)- Oceaneering International, Inc. is an oilfield provider of engineered services and products to the offshore oil and gas industry, with a focus on deepwater applications. Through the use of its applied technology, it also serves the defense and aerospace industries.
Petrohawk Energy Corporation (HK)- Petrohawk Energy Corporation is an independent oil and natural gas company engaged in the exploration, development and production of predominately natural gas properties located onshore in the United States.
Petroleum Development Corporation (PETD)- Petroleum Development Corporation (PDC), doing business as PDC Energy, is an independent energy company engaged in the exploration for and the acquisition, development, production and marketing of natural gas and oil.
Penn Virginia Corp. (PVA)- Penn Virginia Corporation is an independent oil and gas company primarily engaged in the development, exploration and production of natural gas and oil in various domestic onshore regions including East Texas, the Mid-Continent, Appalachia, Mississippi and the Gulf Coast.
Pioneer Drilling Co. (PDC)- Pioneer Drilling Company provides drilling and production services to oil and gas exploration and production companies throughout the United States and internationally in Colombia. The Company operates in two segments: Drilling Services Division and Production Services Division.
Pioneer Natural Resources Co. (PXD)- Pioneer Natural Resources Company (Pioneer) is an independent oil and gas exploration and production company with operations in the United States, South Africa and Tunisia. The Company explores, develops and produces oil and gas reserves.
Plains Exploration & Production Company (PXP)- Plains Exploration & Production Company (PXP) is an independent oil and gas company engaged in the activities of acquiring, developing, exploring and producing oil and gas properties primarily in the United States.
Range Resources Corporation (RRC)- Range Resources Corporation is an independent natural gas company, engaged in the exploration, development and acquisition of primarily natural gas properties, mostly in the Southwestern and Appalachian regions of the United States.
Rex Energy Corporation (REXX)- Rex Energy Corporation (Rex) is an independent oil and gas company operating in the Appalachian Basin and the Illinois Basin. In the Appalachian Basin, the Company is focused on the Marcellus Shale drilling projects.
Rosetta Resources, Inc. (ROSE)- Rosetta Resources Inc. (Rosetta) is an independent oil and gas company engaged in the exploration, development, acquisition and production of oil and gas properties. The Company's operations are concentrated in the areas of the Sacramento Basin of California, the Rockies, and South Texas.
SandRidge Energy, Inc. (SD)- SandRidge Energy, Inc (SandRidge) is a natural gas and oil company. The Company is engaged in the exploration, development and production activities related to the exploitation of its holdings in West Texas. Its areas of focus are the West Texas Overthrust (the WTO) and the Permian Basin.
Schlumberger Limited (SLB)- Schlumberger Limited (Schlumberger) is a supplier of technology, integrated project management and information solutions to customers working in the oil and gas industry.
Southwestern Energy Co. (SWN)- Southwestern Energy Company (Southwestern Energy) is an independent energy company engaged in natural gas and crude oil exploration, development and production (E&P). The Company also focuses on creating and capturing additional value through its natural gas gathering and marketing businesses, which it refers to as Midstream Services.
Stone Energy Corp. (SGY)- Stone Energy Corporation (Stone Energy) is an independent oil and natural gas company engaged in the acquisition, exploration, exploitation, development and operation of oil and gas properties located primarily in the Gulf of Mexico (GOM).
Swift Energy Co. (SFY)- Swift Energy Company is engaged in developing, exploring, acquiring, and operating oil and natural gas properties, with a focus on oil and natural gas reserves onshore and in the inland waters of Louisiana and Texas.
Venoco, Inc. (VQ)- Venoco, Inc. is an independent energy company primarily engaged in the acquisition, exploration, exploitation and development of oil and natural gas properties. The Company's principal properties are located both onshore and offshore Southern California, onshore in California's Sacramento Basin and onshore along the Gulf Coast of Texas.
Whiting Petroleum Corp. (WLL)- Whiting Petroleum Corporation is an independent oil and gas company. The Company is engaged in acquisition, development, exploitation, production and exploration activities primarily in the Permian Basin, Rocky Mountains, Mid-Continent, Gulf Coast and Michigan regions of the United States.
Williams Companies, Inc. (WMB)- The Williams Companies, Inc. (Williams) is a natural gas company. The Company primarily finds, produces, gathers, processes and transports natural gas. Its operations are concentrated in the Pacific Northwest, Rocky Mountains, Gulf Coast, Eastern Seaboard, and the province of Alberta in Canada.
Read more: http://www.benzinga.com/11/04/1032700/ceoworld-magazine-list-of-top-us-shale-gas-stocks-2011#ixzz1L9p9PrBH
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