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

AER sets new seismic monitoring rules for Duvernay in the Fox Creek area

Feb 23, 2015

The Alberta Energy Regulator (AER) announced seismic monitoring and reporting requirements for companies using hydraulic fracturing in the Duvernay zone of the Fox Creek area following some seismic events there in December 2014 and in January.

BHI: US rig count continues 11-week dive, loses 98 more units

Feb 13, 2015

The US drilling rig count plunged 98 units to settle at 1,358 rigs working during the week ended Feb. 13, Baker Hughes Inc. reported.

Apache’s 2015 capital budget less than half of last year’s $8.5 billion

Feb 12, 2015

Apache Corp., Houston, plans a capital budget of $3.6-4 billion in 2015, with $2.1-2.3 billion directed toward onshore North America and $1.5-1.7 billion for international and offshore.

TransCanada challenges EPA’s comments on Keystone XL SEIS

Feb 11, 2015

TransCanada Corp. responded to the Feb. 2 comment letter from the US Environmental Protection Agency on the US Department of State’s final supplemental environmental impact statement (SEIS) for the Keystone XL crude oil pipeline.

Oil-price collapse may aggravate producing nations’ other problems

Feb 5, 2015

The recent global crude-oil price plunge could be aggravating underlying problems in Mexico, Colombia, and other Western Hemisphere producing nations, speakers suggested during a Feb. 4 discussion at the Woodrow Wilson International Center for Scholars.

Alberta’s premier seeks more North American energy integration

Feb 5, 2015

Better policy integration and cooperation will be needed for Canada, Mexico, and the US to fully realize the North American energy renaissance’s potential, Alberta Premier Jim Prentice said. Unfortunately, trends are leading more toward fragmentation and confrontation, he warned.

Gazprom Neft starts shale oil production in western Siberian field

Feb 3, 2015

JSC Gazprom Neft reported start of shale oil production from the Bazhenov formation during tests of two wells in southern Priobskoye field in central western Siberia. Tests are planned for two other wells.

Syncrude sees additional $260-400 million in possible budget cuts

Feb 2, 2015

The estimate for capital expenditures has also been reduced to $451 million net to COS, which includes $104 million of remaining expenditures on major projects and incorporates $110 million in cost reductions.

BHI: Texas anchors 90-unit plunge in US rig count

Jan 30, 2015

The US drilling rig count plunged 90 units—a majority of which were in Texas—to settle at 1,543 rigs working during the week ended Jan. 30, Baker Hughes Inc. reported.

Victoria extends drilling, fracing ban

Jan 30, 2015

The new Victorian Labor government of premier Daniel Andrews has extended the coal seam gas (CSG) exploration and hydraulic fracturing ban in the state and launched another parliamentary inquiry.

Oxy cuts capital budget by a third

Jan 30, 2015

In the midst of falling oil prices, Occidental Petroleum Corp., Houston, expects to reduce its total capital spending for 2015 to $5.8 billion from $8.7 billion in 2014.

Cenovus trims additional $700 million from capital budget

Jan 28, 2015

Cenovus Energy Inc., Calgary, will defer $700 million in additional capital expenditures originally planned for 2015 until crude oil prices recover, targeting a revised budget of $1.8-2 billion, the company says.

OGUK: Push to ban fracing in UK ‘ill-informed’

Jan 26, 2015

The House of Commons Environmental Audit Committee’s proposed amendment to the infrastructure bill that would introduce a moratorium on hydraulic fracturing in the UK is “ill-informed” and would derail industry and cross-party efforts to maximize economic recovery of oil and gas from the North Sea, Oil & Gas UK said on Jan. 26.

Pengrowth cuts capital spending due to declining oil prices

Jan 23, 2015

The recent “rapid” decline in world oil prices is the main reason given by Pengrowth Energy Corp., Calgary, for setting its 2015 capital budget at $200 million, 74% below its $770 million budget for 2014.

Wintershall: Shale gas controversy blocking conventional production

Jan 20, 2015

Wintershall Holding GMBH says natural gas production in Germany fell by about 6% in the past year, and controversy over shale gas and hydraulic fracturing is blocking conventional gas production.

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