Tag Archives: shale

More Infrastructure in China Cited as Top Natural Gas Trend

Researchers at Technavio have listed the top three emerging trends affecting the global water and gas valves market through 2020 as natural gas infrastructure in China, development of next-generation valves and increased demand for quarter-turn valves. Technavio defines an emerging trend as a factor with the potential to significantly affect the market and contribute to its growth or decline. “As a result of the burgeoning population and rapid urbanization, the water and wastewater industry in China and India will witness significant growth during the forecast period, resulting in massive growth opportunities for valve manufacturers,” said […]

Many Natural Gas-Fired Power Plants Being Built Near Shale Plays

May 2016, Vol. 243, No. 5

Natural gas-fired power generation increased 19% in 2015, because of low natural gas prices, increased gas-fired generation capacity, and coal power plant retirements. EIA’s May 2016 Short-Term Energy Outlook forecasts that this year, natural gas-fired generation will exceed coal generation in the United States on an annual basis. Growth in natural gas-fired generation capacity is expected to continue over the next several years, as 18.7 gigawatts (GW) of new capacity comes online between 2016 and 2018. Many of the new natural gas-fired capacity additions in development are near major shale gas plays. The Mid-Atlantic states […]

Study Finds Bakken Oil Field Leaks Less Methane than Reported

May 2016, Vol. 243, No. 5

BISMARCK, N.D. (AP) — A new study says the oil-producing region of North Dakota and Montana leaks 275,000 tons of methane annually, an amount that’s less than previously reported. Researchers say it’s the first field study of methane emissions from the Bakken shale formation. Methane is a greenhouse gas that contributes to global warming. It’s the primary component of natural gas. The study released Wednesday was based on air samples a National Oceanic and Atmospheric Administration airplane took from over the Bakken region in May 2014. The study says the methane emissions were less than […]

Bakken Formation the Source of Global Uptick in Air Pollution

May 2016, Vol. 243, No. 5

WASHINGTON (AP) — An oil and natural gas field in the western United States is largely responsible for a global uptick of the air pollutant ethane, according to a new study. The team led by researchers at the University of Michigan found that fossil fuel production at the Bakken Formation in North Dakota and Montana is emitting roughly 2 percent of the ethane detected in the Earth’s atmosphere. Along with its chemical cousin methane, ethane is a hydrocarbon that is a significant component of natural gas. Once in the atmosphere, ethane reacts with sunlight to […]

Adjusting to Life – and Leaner Wallets – after Gas Boom

April 2016, Vol. 243, No. 4

TOWANDA, Pa. (AP) — Jami Patel spends long hours behind the front desk of a nearly empty motel, desperate for someone, anyone, to check in. Hardly anyone ever does, not since the once-booming natural gas industry pulled up stakes amid a prolonged, severe slump in energy prices. “I don’t know how much longer I can hold on,” lamented Patel, 43. “If it continues like this, the business is going to be dead.” That’s the last outcome Patel would have envisioned after she and her husband spent more than $1 million on renovations a few years […]

Crestwood, Bluestone Enter into Barnett Shale Gathering Agreement

March 2016, Vol. 243, No. 3

Crestwood Equity Partners entered into long-term commercial agreements with BlueStone Natural Resources II to gather and process natural gas across its Alliance, Lake Arlington and Cowtown systems in the Barnett Shale. Crestwood will provide services to BlueStone for 10 years under a fixed-fee and percent of proceeds fee structure. As part of the agreement, BlueStone assured Crestwood all shut-in wells will return to production by July and remain that way until the end of 2018. “I am pleased to announce our new long-term relationship with BlueStone, which will bring an experienced and financially sound oil […]

BP Sets Up Shale Gas Operation in China

March 2016, Vol. 243, No. 3

UK-listed BP and China’s CNPC aren’t exactly strangers, already jointly developing Iraq’s Rumaila oilfield, but BP’s new shale gas deal with CNPC is the British company’s first foray into China – and it’s a major strategic move that gauges which way the winds are blowing in today’s energy sector. Last week, BP announced it had signed a production sharing agreement with China’s CNPC for the development of shale gas resources in the Neijiang-Dazu deposit in the Sichuan Basin. The agreement is the next step in a framework agreement reached by the two companies last year. […]

What Happens When Oil Hits $50?

March 2016, Vol. 243, No. 3

The major beneficiary of the 54 percent jump in oil prices from the lows of $26 per barrel is the U.S. shale oil industry, which will utilize this rise to ramp up production and repair balance sheets. But any move above $45 per barrel will likely reverse all this good luck: The drop in production will halt and more will be added to the supply glut. It’s a bit of a double-edged sword. Speculation of a production freeze/cut by the combined cartel of Russia and the Organization of the Petroleum Exporting Countries (OPEC) fuelled the […]

Texas to Share Shale Strategies With Mexico

March 2016, Vol. 243, No. 3

Texas Railroad Commissioner Christi Craddick has met representatives from the Mexican Energy and Finance Ministries to review best practices and regulations governing the state’s shale industry. Mexico is reviewing terms of an auction for shale reserves in the Burgos basin located near the Texas borders. “We have been a resource for Mexico since their energy reform process began, and as Mexico initiates shale exploration and production, we welcome greater cross-border cooperation, collaboration and regional success,” Craddick said in a statement. Mexican shale gas reserves are estimated at 545 Tcf, which is 10th worldwide in terms of technically […]

The Allure Of Shale Is Wearing Off

February 2016, Vol. 243, No. 2

Investment in U.S. shale continues to dwindle, with several large companies raising eyebrows with plans to slow drilling plans much further than expected. Continental Resources, an Oklahoma-based shale company, has announced that it is largely zeroing out all plans to drill in North Dakota’s Bakken this year. Announcing its first annual loss since its inception in 2007, Continental Resources said that it would defer completions on just about all of its wells drilled in the Bakken. Continental will hold onto four rigs in North Dakota, but has no plans to deploy any fracking teams. The company’s […]

Shale Primed to Decline Substantially this Year

February 2016, Vol. 243, No. 2

U.S. shale has weathered the oil crash better than many expected, but the stubborn persistence of low prices through 2016 could amount to the “straw breaking the camel’s back” for shale production. The International Energy Agency released its Medium Term Oil Market Report on Feb. 22 at the IHS CERA Week conference in Houston, an annual confab for the elite of the oil industry. In its report, the IEA sees U.S. shale finally capitulating this year, falling by 600,000 bpd, plus another contraction of 200,000 bpd in 2017. By then, oil prices should rebound as […]