International Unconventional

International Unconventional Description ImageThere has been substantial recent interest in shale gas potential in Eastern Europe. ExxonMobil has been working to identify shale gas resources in Germany and other large end-user markets. E&P companies have selected about a dozen basins in Europe for initial exploration, including the Cambrian Alum in southern Sweden, the Vienna Basin in Austria, multiple locations in Poland (especially the promising Gdansk Basin), the Weald Basin in England, the East Paris Basin in France (as well as two other locations in France), the Lower Saxony Basin in Germany and the very large Mako Trough in Hungary. China is another important area for shale gas, as is India. Chinese and American geologists have said that China’s shale gas potential is massive and could easily rival the largest basins in the US.

International Unconventional News

Apache to reorganize into three regions

Jun 1, 2015

Apache Corp. reported plans to restructure the company into three “super regions” following a series of acquisitions and divestitures over the last 5 years.

First assessment of NWT shales suggests multibillion barrel resource

May 27, 2015

An estimated 145 billion bbl of oil in place are in the Canol shale in Canada’s Northwest Territories, while the thinner Bluefish shale could contain 45 billion bbl in place, Canada’s National Energy Board and Northwest Territories jointly said on May 22 in the first government assessment of the formations’ resource potential.

La Jolla Conference: Regulations still constraining unconventional energy development

May 26, 2015

While unconventional oil and gas production in the US remains mostly resilient amid the industry downturn, energy policy under the Obama administration hasn’t made things easier on companies forced to cope with new market realities, panelists said on May 20 during the XXIV La Jolla Energy Conference in La Jolla, Calif.

Forest fire causes Cenovus to shutter Foster Creek facilities

May 26, 2015

Cenovus Energy Inc. halted production on May 23 from its Foster Creek oil sands and Athabasca natural gas operations as a precaution due to a forest fire about 25 km south on the Cold Lake Air Weapons Range (CLAWR) in northeastern Alberta.

Husky begins steam operations at Rush Lake heavy oil project

May 21, 2015

Husky Energy Inc. has started commercial steam operations at the 10,000-b/d Rush Lake heavy oil thermal project in Saskatchewan (OGJ Online, Dec. 12, 2014).

BHI: US rig count decline shrinks to 6 this week, settles at 888

May 15, 2015

The trend of shrinking declines in the US drilling rig count continued during the week ended May 15. Just 6 units were laid down to settle at a total of 888 rigs working, representing the smallest drop in the 23 consecutive weeks in which the count has dived, easily surpassing last week’s 11 that went offline, according to data from Baker Hughes Inc. Since Dec. 5, 1,032 units have now gone offline.

Encana records 1Q net loss of $1.7 billion

May 12, 2015

Encana Corp. posted a first-quarter net loss of $1.7 billion primarily due to a noncash, aftertax ceiling test impairment and a non-operating foreign exchange loss.

Cold Lake project expansion starts production

May 11, 2015

ExxonMobil Corp. has started bitumen production at the $2-billion Cold Lake Nabiye project expansion in northeastern Alberta.

BHI: US rig count posts smallest decline in 22 weeks

May 8, 2015

During a week in which much of the oil and gas industry was either preoccupied with the Offshore Technology Conference in Houston or company earnings reports, the US drilling rig count snuck down just 11 more units to settle at 894 rigs working, according to data from Baker Hughes Inc.

Apache reports 1Q net loss of $4.7 billion

May 7, 2015

Apache Corp. reported a first-quarter net loss of $4.7 billion, including an aftertax ceiling-test write down of $4.7 billion due to “substantially lower commodity prices.”

OTC: Many variables dictate N. America’s emergence as a global energy force

May 6, 2015

North American businesses and governments must work together toward the collective goal of advancing the continent’s energy aspirations. That was the message delivered by producers and government officials during a May 5 panel discussion at the Offshore Technology Conference in Houston.

Crude export ban could endanger US oil renaissance, Encana CEO warns

May 6, 2015

The plunge in crude oil prices since last summer is creating adverse impacts sooner than expected, and could endanger the economic renaissance the US has undergone from its dramatically increased production if crude exports are not authorized soon, Encana Corp. Chief Executive Officer Douglas J. Suttles warned.

Husky Energy reports net earnings of $191 million (Can.)

May 6, 2015

Husky Energy Inc. reported first-quarter net earnings of $191 million (Can.) compared with a loss of $603 million in the previous quarter and year-ago earnings of $662 million.

CERAWeek: Evolutions of Pemex, YPF running parallel

Apr 23, 2015

Chief executives of Mexico’s Petroleos Mexicanos (Pemex) and Argentina’s YPF SA are both seeing energy reforms within their respective countries, and both emphasize the need for investment from international oil and gas companies to achieve their new goals.

BHI: US rig count cut in more than half since Dec. 5

Apr 17, 2015

The US drilling rig count fell 34 units—all on land—to 954 rigs working during the week ended Apr. 17, according to data from Baker Hughes Inc.

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